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13 results found.
Compound cash rewards are an important part of Mastering The System of Extreme Credit Card Benefits. To begin with, the largest perks I have gotten are from the credit card sign up promotional bonuses. They start at $100 each with specific qualifications. Once they are met, not only can a customer receive this bonus in a variety of forms but it is also possible to get the regular cash rewards along with it. Here is the reason.
Increments of $20, $25 or even $50 are the minimum distribution levels applied to most credit card cash rewards. Those are the amounts when regular cash rewards are involved. But when someone receives their promotional bonus, the regular cash reward levels are automatically met. As a result, the initial bonus will include both the sign up promotional bonus and the regular cash rewards bonus.
Credit cards require that the purchasing threshold be paid in 90 days to 3 months. I like to complete the process in much less time than that because I often count on receiving these funds to help pay my bills. One way I accumulate purchases while keeping within my budget is to pay all my bills for the month on the new card. Occasionally bills must be paid directly by my bank account. More times than not, I can charge the payment to the credit card I have signed up for to receive a promotional bonus. Between my cable, cell phone, contents insurance, gas, food, prescriptions and even medical bills, I can meet the needed spending threshold within a month. In other words, a card that requires $500 in charges to pay oui a sign up bonus of $100-$150 will net me about 20-30%. Not bad for a month’s work.
One time I signed up for a card without knowing that it did not pay the bonus when the spending threshold was met. When I called the bank to claim my promotional bonus, I was told I had to wait. Their terms are different from any other bank I have gotten a sign up promotional bonus from. Usually I get it immediately. With this bank, I had to wait for the full 90 days. I was not happy about that because it sure put a squeeze on my budget for the month. That was money I had expected to help pay my bills. Fortunately, I would get it next month so it was not a substantial delay. But it was an inconvenience. So be sure to read the fine print or inquire when signing up for a credit card promotion when the bonus is paid out.
In my experience, compounding cash rewards is not for the meek. Some of the perks I have gotten have required being rather brazen.
For example, one card had a promotional bonus of $150. I met the terms and got my bonus. Almost immediately after that, a new promotional bonus appeared online for $200. As soon as I saw it, I called the credit card company and asked for the additional $50. They gave it to me! You never know what you can get unless you ask. I like to make a habit of asking as often as possible. Being part of The Former Middle Class living rather frugally is an incentive to explore every possibility to get additional perks.
Occasionally someone comes up with a passive, brilliant technique. For example, using something called ‘card linked offers’, Jim Wang of Wallet Hacks has come up with an impressive, passive (nothing to do after it is set up) triple whammie for cashback dining. Read Triple Your Cashback Dining Out at Restaurants for all the details.
Whenever you can, compound your sign up promotional bonuses and cash rewards. With the knowledge of the proper tools and how they can work together, this is possible. Behind every benefit there can be another bonus and even another cash reward. See how many you can collect. In future posts, I will be discussing compounding travel points card benefits and online coupon compounding.
Triple Your Cashback Dining Out at Restaurants
MASTERING THE SYSTEM of Extreme Credit Card Benefits
Using Credit Cards for Survival and Profit
The Poor Middle Class Crisis eBook
The Former Middle Class
The Cash Rewards Credit Cards Research Booklet is a collections of recommendation posts on this topic. Much of the information is directly quoted from the primary documentation sources.
I’ve talked a lot about using cash reward credit cards, lately. It actually feels like I am living in a credit card world. In fact, this for two reasons. One is because I have wanted to learn everything I could about cash reward credit cards, credit scores and credit reports, too. The other reason, probably the most important one, is that cash reward credit cards have become one of my most essential survival tools.
As a result of my intense interest and need to know everything I can about credit cards, I’ve even created a Facebook page called The Credit Card Maven. This is where I post information as I have researched and sourced it. I have found a number of websites, blog posts, Facebook pages (listed here) and groups that are extremely helpful resources in my quest for knowledge as The Credit Card Maven in my credit card world. Included are:
• Credit Card Mastery
• Credit Karma
• Wallet Hacks
• Wise Bread
As I mentioned at the start of this post, credit cards have become a survival tool in my credit cards world. It was not by design that this came to be.
It was more a matter of circumstances. Once I got a feel for how useful and profitable using credit cards could be, my desire to use them and master it increased. Let me give you an example.
I have had cash reward credit cards for a number of years. I can accumulate up to about $40. in a two month period from one of them. That was a good beginning. Then I decided to get a travel rewards card in anticipation of someday going to visit my family in Colorado. I used it and kept on accumulating points.
When I went to check on the conversion to paying for an airplane ticket, the results were not impressive. I had to find something better. This time by design, I set out to find the best deal I could for air travel benefits using a credit card. I found one that I ultimately used for my flight. It rewarded me with 30,000 points and a $100. discount on my airplane ticket. This was such a great deal that I have enough points to return to Colorado for free, right now.
Now that’s what I call using credit cards as currency. If I could do that with a travel rewards credit card, I wondered what other benefits and rewards I could manifest in my credit cards world. I familiarized myself with a few other travel rewards cards as part of getting a second ticket for my husband and having funds for other things related to our vacation. All in all, my activities resulted in a savings of between $400 and $500 for our trip.
Let me present one more situation where the skilled use of a credit card became very profitable. I found an offer for a cash rewards credit card that would refund $100 on spending $500 within 90 days of acquiring the card. That would be a 20% profit. I had never accomplished that in the stock market. It seemed like a very good investment to me. I wasn’t sure if I would be granted another card as I had accumulated quite a few by this point. But it came through. I fulfilled the requirements. Now I am just waiting for my investment to pay off.
I made another discovery. It may seem a bit confusing. In fact, I am kind of surprised that I am even able to do this. I am calling it credit card monthly rotation. It is based upon a combination of the nature of credit cards themselves and good credit card hygiene.
Each credit card has a closing date and a payment due date. Since I have several cash reward credit cards and they have different closing and payment dates, I can stagger them and not have to pay them at the same time. If I make my purchases and schedule my payments using my monthly rotation system, I have a revolving credit situation. In other words, if my budget in a particular month needs to be exceeded, I can use a card that has a closing date that will allow payment the following month. I just have to make sure the funds will be available then. I also have to have a very good bookkeeping system to keep track of every detail of every card.
What is credit card mastery? Have I achieved it? It turns out that this term exists. I did not invent it as I thought I had. There is actually a course called Credit Card Mastery that costs $97. Much of it seems similar to my own system. Although I have not taken that course, it looks very comprehensive. This is an introduction to the course and an explanation of it by founder, Brian Cain.
Based upon my understanding and goals to achieve Credit Card Mastery, I believe that I am on my way but I have not achieved mastery yet. When will I achieve it? There are several requirements that I have established for myself:
• My credit scores average will be over 800 again. It is only about 10-20 points from that now.
• My monthly rotation system will have proven itself to work and I will have a sense of mastery in my credit card world
• My Credit Card Management Chart will be complete and committed to memory. As a result, I will have a firm grasp on all my cards and a natural flow for their use in rotation as needed.
To many people, understanding credit scores and reading credit reports are overwhelming and confusing. There is no need to not have transparency and clarity about your credit cards world. Credit cards are an important tool and can even be crucial for personal survival and business development. Study the resources provided. Take the Credit Card Mastery Course if you can. Having one’s finances in order and being able to live solvently in a credit card world are not luxuries. They are necessities and everyone deserves to have them.
CreditCardMastery.com, a course developed by Brian Cain
CreditCards.com, find a credit card that’s right for you
CreditKarma.com, free credit scores and more
NerdWallet.com, Best Credit Cards of 2017
NextAdvisor.com, all about finances
WalletHacks.com, founded by Jim Wang
WiseBread.com, great blog post advice about credit cards and everyday frugal living
According to Jim Wang of Wallet Hacks, millionaires tend to have 7 streams of income. To quote him, “Have you ever heard the statistic that millionaires have an average of seven streams of income? I tried to find the survey, report, or some official repeating that statistic but was unsuccessful. That said, seven sounds good to me.” His list consists of the following sources of passive income:
• “Interest – from a variety of loans, either to individuals (peer to peer lending or private notes) or companies (bonds, notes)
• Dividends – from investments, partnerships
• Capital gains – from the sale of investments
• Royalties – from products you sell or license
• Rental income – from real estate
• Business income – which may or may not be passive but the idea is you build something that generates income without active work,
like a website or the sale of information products”
Even though we are part of The Former Middle Class and were One Day From Homeless, we have 7 streams of passive income. Does this mean we are traditional millionaires? Let’s look at our sources of passive income:
• Social security retirement benefits
• credit card sign up promotional rewards
• credit card cash rewards
• Assistance with housing and medical expenses
• Medicare and Medicaid
• Food stamps
• OTC card for over-the-counter medically related expenses up to $100
We actually have 7 streams of passive income. By definition then, we could be millionaires. But in the real monetary world, we are far from traditional millionaires. In spite of that, let’s say there is another world and another currency. It is a frugal world where large amounts of money do not define us. Our frugal living world involves:
• living on a very tight budget
• buying what we must
• acquiring what we can without having to purchase it
• being creative in making or scavenging for what we need
• limiting frivolous purchases as much as possible
• experiencing joy and meaning in life through activities other than consumerism and spending money as an addiction
You could say that we live in a world that is a microcosm of the mainstream financial world. Our world offers much more but in comparison to the mainstream, we do qualify to be micro millionaires. The reason we do is because we have succeeded in surviving in the miniature financial version of the middle class world we used to inhabit.
Survival comes first and we have not only managed to survive. We have become members of the group, Savvy Saving Survivalism.
It allows for most of the things that our middle class necessities allowed for but in much simpler terms and smaller quantities. In order to fit in to this new life while being comfortable in this smaller financial box, we have had to downsize our world to a minimum of material wants. We focus realistically on our material needs and away from consumerism as a lifestyle.
Nourishing Minimalism has helped a great deal. Because of these internal and external space shifts, we are finding that we now have room for many new interests and goals. Because we are not consumed by wanting lots of dollars to spend, the currency of our current lives is focusing on our dreams. We dream about the avenues we want to explore, the subjects we want to study and where serendipity might lead us going forward in our lives.
I don’t know how or where we will go. But one thing I know for sure is this. We have managed to have fruitful and peaceful lives in our frugal world as micro millionaires. We have challenges even fears, at times. But they are less than when we had lots more money. We have learned that it does not take lots of money to make dreams come true. So I am sure we will accomplish what we am meant to do. It does take some money. But more importantly, it takes faith, hope and being tenacious about our dreams.
Nowhere in Maslow’s Hierarchy of Human Needs does it indicate that one must be a traditional millionaire. It seems to me that being a micro millionaire fits very well with his philosophy. Maybe that is why we feel fulfilled without having lots of money but lots of what money can’t buy.
7 streams of income of millionaires, by Jim Wang
The Former Middle Class
One Day From Homeless, Our Story
Survival Comes First
Savvy Saving Survivalism
The No Spenders! Facebook Group
Healthy Frugal Food Resources and Recipes
Maslow’s Hierarchy of Needs vs. The Max Neef Model of Human Scale development Maslow’s Hierarchy of Needs
Before extreme credit card benefits can become a consideration for someone in The Former Middle Class, two things need to be explained. The first is that one must be thoroughly versed in The Principles of Good Credit Card Hygiene. Even if someone has a history of medicore credit, the credit score must become very good to excellent. ‘One Must Learn to Walk Before One Can Run’.
In contrast, there are people who can achieve even more extraordinary benefits than those of us who are part of The Former Middle Class can. That is because they have the funds to spend from the start. For example, one of the super benefits credit cards requires an expense of thousands of dollars to receive a heftier signup bonus. But in my case, I had started using credit cards with monthly bonuses to add a small amounts of cash to my retired, minimal fixed income.
During the time I was getting this kind of ordinary cash bonus of between 1% and 3%, I developed the need to acquire a travel point credit card offering both a cash rewards bonus and travel miles. That was when I became aware of the extreme benefits I could receive separate and apart from using credit cards the way I had been. The fact that both my husband and I had credit scores hovering around 800 helped tremendously to move into this new level credit card benefits, the sign up promotion.
As explained in the last blog post, a very good to excellent credit score is one of the most important aspects of qualifying for extreme credit card benefits. But let’s go back a step to when credit cards had cash rewards that paid out in increments of a minimum of $25. It was not difficult to earn about $40 over a two month period. But that is not extreme credit card benefits and I needed extreme benefits.
Extreme credit card benefits involve more than just getting monthly cash rewards or travel points. They require additional incentives from the credit card company to get someone to apply for a particular credit card. So that is exactly what the credit card companies started doing. They began to offer either large sign up cash or travel points promotions or both when a certain amount of money was charged by the customer in a given amount of time. The cash usually ranges between $100 and $200. Payment occurs after $500 or $1000 in charges. The period of time to make the charges is usually 3 months.
People who are solidly middle class can make a lot more cash back. But if one compares the percent of return rather than the cash itself, someone in The Former Middle Class can match and even outrank the returns that the Middle Class and above can. In one situation, I got a 40% sign up promotion cash bonus! I only had to spend $500 over a three month period. So $200 cash back from $500 spent is a 40% return. This is definitely Mastering The System of Extreme Credit Card Benefits.
We know that the first and most important thing is to achieve and maintain very good to excellent credit. The next thing is to apply for such a card after you have paid your balance in full and have zero debt. Lastly, it is important not to apply for too many credit cards in a short amount of time. Straight forward? So it would seem. But it can get complicated and time consuming requiring a actual bookkeeping system to stay on top of things. This will be discussed in a future post. This is the system of tools that I use to keep track of my extreme credit cards benefits card accounts.
It can become very enticing to continue to apply for and collect extreme credit card benefits cards. They offer a one time promotion that is a lot more than regular cash rewards or travel points. But one must proceed with caution by keeping diligent track of all of one’s accounts as the number of the hot credit cards in one’s possession increases. If a person accumulates a large number of these cards, it can become a job just keeping track of everything. Obtaining these cards can be a way to earn some extra non taxable income for The Former Middle Class person. But at the same time, unless it is a real necessity, it is easier to have a few top notch cards that offer cash back and are “tied to a travel program like an airline or a hotel”. According to Jim Wang of WalletHacks, they offer the best bonuses.
The Former Middle Class
Wallet Hacks, Best Credit Card Promotions
Using Credit Cards for Survival and Profit
The Principles of Good Credit Card Hygiene
Mastering The System of Extreme Credit Card Benefits
The Credit Card Maven
Savvy Saving Survivalism
Credit cards took on a whole new purpose after our finances took a nose dive in the not-so-great depression of 2008. Using credit cards became a necessity. Over the years, mastering the system has allowed us to develop extreme credit card benefits.
By 2009, we went from being Middle Class to becoming part of The Former Middle Class as well as One Day From Homeless. The Introduction to my first eBook, The Poor Middle Class Crisis, details what happened to us. As a result we had to find new ways to survive, new ways to make ends meet. We created a financial survival toolkit. One of our most essential money making tools became credit cards,the cash rewards and travel points cards we already had in addition to the numerous new ones we have gotten since then.
Mastering the system of extreme credit card benefits can go beyond achieving necessary income for survival. Mastery can provide extreme credit card benefits. Over almost the last decade, we have worked on fine tuning our use of credit cards to achieve mastery of this invaluable financial survival tool. It has allowed us to rise from survival to live a frugal way of life. It even includes what might be viewed as a bit of frivolity.
Mastery starts out as a science. It develops into an art. This became the situation when the need to visit family in Colorado arose. The art of creating extreme travel rewards credit cards benefits came into play. Before that, our focus had been primarily on cash rewards credit card. Needing to find a way to afford our trip, we had to learn to master travel rewards cards.
The first step in mastering credit cards is learning about them. So that is exactly what I did. I did research locating the best sites and blogs about mastering credit cards. Then I practiced and learned how to do it myself. As part of the process, I created a ‘cheat sheet’ that I could easily refer to. It is called, ‘Tips for Mastering Credit Cards’.
Even though I continue to gather more helpful tips, I think that the ones on this list give me and anyone who reads them a pretty good start. What I would like to do for the rest of this post is go over them and explain any that are not completely transparent already. The details will cover several blog posts because there is so much information to share.
The companies that you have credit card and other ‘debt’ with report the amount of that debt to the credit report agencies on a monthly basis. To have them report a $0 debt, pay your balance in full before the reporting date. Your credit card companies are supposed to provide you with that date if you request it. Find out what that date is and keep track of that date as well as the due date and the closing date.
There are many resources for learning to build your credit. They are listed at the end of this post. Notice the colored sections in the image below. They indicated credit levels. Excellent credit is the bright green bar.
Many credit card offers include a promotion of either cash or travel points in addition to the regular cash back % and points that they acru. Be sure to get one with both. In addition, compare offers for the best deal. There are several variables. This includes the promotion, the amount that must be spent to get it, and the regular benefits. The best ‘investment’ I have ever made was a $200 bonus on a $500 required expense. That’s a 40% return. Where else can one get that kind of a deal? This is where mastering skills come into play and why you want to learn mastery.
This card also is one of the best cash back credit card. Note the cashback percentages on this card: 3% restaurants, 3% gas, 1% on the rest. (You can see it on the image about the AARP card info above). Other cards with similar cash back bonuses may offer 3% on some items, 2% on some items and 1% on the rest. I suggest using such a card for the items that only get 1%. What is an alternative? This brings up the tool of credit card pairing.
There are two formulas offered on cash rewards cards. There are 3%/2%/1% cards. There are straight 1.5% cards. Both have their place. The 3/2/1 cards give 3% cash back for either gas, groceries or restaurants. Then they give 2% for the alternative of restaurants, groceries or food. For example, if gas is the priority, you can use a card that offers 3% for gas and 2% for groceries, like the BankAmericard and the Amex Everyday Blue Cash Rewards cards. If you like to eat out, you can use the AARP card that offers 3% for restaurants as shown in the image below.
Therefore, if you pair cards, you can get 3% or at least 2% for groceries, restaurants and gas. You can avoids using the 1% feature altogether. That is because cards like the Capital One Quicksilver Card pays 1.5% across the board for other expenses. Since pairing requires carrying more than one card at a time, you will needs a tool to remember which card pays what percent of cash back.
I had thought of this tool but did not start using it until I read about it in a blog post by Jim Wang of Wallet Hacks. He actually mentioned writing the cash reward percentages directly on the credit cards in something like waterproof magic markers. It works great.
As I think of them, I will write about more extreme cash rewards benefits. Be on the lookout for future posts on this topic. There is also an (upcoming) Amazon eBook entitled, Mastering the System of Extreme Credit card benefits. As mentioned at the beginning of this blog post, two other Amazon eBooks on this topic are currently available. They are:
The third will be available on Amazon shortly:
Mastering the System of Extreme Credit Card Benefits
The responsible and potentially profitable use of credit cards requires one fundamental rule. All credit card statements must be paid in full and on time. There are no shortcuts, no magic tricks or hidden agendas. All of the suggestions, tips and tools mentioned in these posts are totally above board and follow standard credit card use guidelines even when creative techniques or combinations are applied. Study these tools, practice these tips, learn these applications so that you can have the opportunity to experience extreme credit card benefits, too.
Survival Comes First
A Savvy Saving Survivalist
Savvy Saving Survivalism
Credit Card Swag
The Credit Card Maven
The Poor Middle Class Crisis eBook
Using Credit Cards for Survival & Profit
Mastering The System of Extreme Credit Card Benefits
Please note that I have not received any compensation for mentioning or promoting specific credit cards.
My second eBook, USING CREDIT CARDS for Survival & Profit is now available on Amazon along with my first, The Poor Middle Class Crisis. The second eBook temporarily is available in the older version entitled, Mastering Credit Cards for Survival & Profit.
I am The Credit Card Maven. I have learned ways to use credit cards for survival and profit. This post is designed to share these techniques with my friends and followers.
I started using charge cards many years ago. I never abused them. The bills were always paid on time. But they were not credit cards. They were charge cards for department stores. At one point, I decided to eliminate most of them.
My FICO score has always been in the excellent range. In spite of that, I had no idea how FICO scores worked. It was just one of those mysteries of life. I continued to carry a limited number of cards as well as having a credit score of over 800. When our financial situation changed in 2008, credit cards took on a totally new meaning for us.
Due to circumstances which I detail in my first eBook, The Poor Middle Class Crisis Introduction, our financial profile changed drastically. Our equity was gone as well as our income. We no longer had savings. Suddenly credit cards became a way to earn money and derive other benefits from them, as well.
The biggest incentive to use credit cards as currency was our need to take a trip to Colorado to visit our families. Because of that, I signed up for a total of four travel rewards cards. One of them was the airline travel rewards card. I signed up during a promotion. If I spent $1,000 in three months using this card, I would get 30,000 bonus points and $100. off the airfare. I have earned enough points for a free trip to Colorado and back, again. Hopefully it won’t take six years to see our families again.
As you can imagine, using so many cards can become very confusing. I am still perfecting my system. But I can tell you what I have learned so far. We are fortunate enough to have excellent credit. So we were easily able to secure all the cards we wanted. If you don’t have great credit, do everything you can to improve it. There is a link to an article from NextAdvisor.com in the Sources and Resources section about paying down if not getting out of debt. Do read it.
For the person with excellent credit, you want to keep it. Great credit is precious. Here are some golden rules on how to train yourself to use your credit cards wisely.
• Sign up for cards that best meet you needs and spending habits. There are websites that show you which to use.
• Always pay bills in full and on time.
• Make a chart of closing and payment due dates for all your cards.
• Keep an accounting of how much you spend each month so that you do not exceed your budget.
• Use no more than 30% of the credit limit you have on each card.
• It is better to charge larger amounts on a few cards than to charge small amounts on many cards.
• For cash rewards cards, write on the card itself the cash back % you get on each category of purchases.
• Do not close old credit card accounts. It is best to have as long a credit history as possible.
• Avoid fee based cards unless the benefits greatly outweigh the out-of-pocket expense.
Myths about credit cards abound. So here are some tips to dispel them.
• A credit score will not necessarily be lowered by having numerous cards. But don’t sign up for too many too close together. That can appear to the credit card score companies like you are in crisis.
• Almost every credit card company has a ‘Check Your FICO score’ feature. You can use it without negatively impacting your score. This is a ‘soft’ check.
• A ‘hard’ check can negatively impact your score. That could be checking by a loan company, a future employer,etc.
There is so much more that can and will be said about credit cards, their use and mastery in future posts. Credit cards can be like a loaded gun. They can be dangerous, even deadly if you do not know how to use it. On the other hand, they can be a lifesaver when properly trained.
Savvy Shopper Savings is essential to living a consciously frugal life as a member of The Former Middle Class, the Facebook page. For me, one of the most valuable tools in my financial survival toolkit, introduced in the Financial Survival Toolkit blog post, has been the responsible use of credit cards and as a result, the invaluable benefits that I have derived from them.
Credit cards can be both a blessing and a curse. The suggestions given here about them apply only to people who use the responsibly and have excellent credit scores. I have used credit cards for as far back as I can remember. I have always paid them on time. My credit score is excellent, as a result. I have written previous blog posts about credit cards. But very recently, I realized recently that there was much more to be gained from having credit cards than just having an excellent credit score. They can be an essential tool of savvy shopper savings.
When I realized their invaluable potential, I began an in-depth research project into their use. There are two types of credit cards that fit into this category, cash rewards cards and travel rewards cards. My study has included both. Many websites and blogs specialize in savvy shopper savings with the use of credit cards. Here are two PDF booklets I compiled for the abundance of information available from research on the Internet.
The responsible use of credit cards for cash and travel rewards is just one of countless ways to live a consciously frugal life. Future blog posts will reveal more about the use of credit cards as one-time high yield instruments as part of our savvy shopper savings strategies.
Savvy Shopper Savings, the Facebook group
The Former Middle Class, the Facebook page
The Viper Tool Storage Company, the website
Wise Bread, the website
WalletHacks, the website
NerdWallet, the blog
previous blog posts about credit cards
the Financial Survival Toolkit blog post
This fact is in spite of what Erika Rawes wrote in The Cheat Sheet entitled, ’10 Things the Middle Class Can’t Afford Anymore’. At the very top of her list was the word, VACATION.
This blog post will disprove her statement. In addition to disproving her, I also pronounce that the Middle Class she referred to is disappearing and becoming The Former Middle Class. Even with that added financial burden, it is possible to take a frugal vacation.
It is different from a Middle Class or Upper Middle Class vacation. I will not dispute that. Actually, it involves actions that a middle class person would not take or need to take. Nonetheless, it is still a vacation. I have proof. That proof is what this post is all about.
I had not seen most of my family for six years. They live in Colorado. In fact, the last time I had been to Colorado was for my nieces weddings. Their four children were not yet a gleam in anyone’s eyes. We were long overdue to visit now that I had become a great-aunt. Since we had become member of The Former Middle Class, I did not know how that was going to be possible. As it was, we were barely making ends meet.
But as my husband and I told ourselves, life is short. We are both hovering about our seventh decade and live a day at a time. So one never knows how many days, weeks, months or years that might be. Time was of the essence even if the funds were not apparent. I was determined to make this the year we would return to Colorado, it’s beautiful mountains, past great fly fishing experience and now three great nephews as well as a great niece.
Pay close attention to this part because this is how to create the opportunity to take a frugal vacation. There are essential ingredients to this alchemical formula. They include and are primarily:
• Travel Rewards Credit Cards
• Help from family
• Help from friends
I then took advantage of another promotion towards realizing our frugal vacation. It was a Travel Rewards Card from Capital One, Venture One.
By the time I had paid for the airline tickets, I did not need to use the equivalent in travel points of $200.plus. I called Capital One and they were able to upgrade me to the Quicksilver Cash Rewards Card. This became the equivalent of cash I could use anywhere for anything. It actually paid for our out of pocket expenses on our trip.
In continuing my Travel Rewards Credit Card research, I came upon a number of articles about what were considered the best cards for travel rewards. One in particular recommended the Delta SkyMiles Credit Card. It just so happens that Delta Airlines flies to Denver. Also, the promotion for this card included $100 off the first trip and 30,000 additional points if a certain amount of money was charged within a certain amount of time. From past experience, I knew this would be manageable. Due to some confusion with signing up, I ended up with two accounts, saved $200 on our flights and am now working on the 30,000 travel rewards points.
In arranging for our $38. Super Shuttle ride to the airport, there was a prompt on the phone that gave us the opportunity to receive two $20. refund coupons. I usually ignore these kinds of offers. But as a Former Middle Class, I felt it was my duty to investigate. We signed up for $1 to try the greatfun.com website. If we didn’t like it, we could cancel within thirty days and we would receive no other charges. I have to make sure I contact them before June 23. If not, the fee goes up to $16.99 per month.
We already miss the mountain view outside our hotel window. With all the travel points we are now accumulating who know how soon we will have a snow capped view when we look outside. We hope and plan that it will be soon.
In addition to the inequity of money is the fact that many of us no longer have enough income or savings to live the traditional life we grew up with or used to have. In other words, we are no longer Middle Class Americans. We are part of the Poor Middle Class Crisis. Many of us are in debt. Many of us baby boomers are now seniors and beyond significant employability.
The most devastating causes of the loss of one’s money can be a serious illness, a death, the termination of a good job, as well as storms and earthquakes. A significant economic downturn can scoop up more of the Middle Class and deposit us, like yesterday’s trash, into the heap of The Poor Middle Class. Some people ended up in the depths of poverty and homelessness from the horrific hurricanes of 2005 and 2012 and the stock market crash of 2008.
Learn more about The Poor Middle Class Crisis and our story in the Poor Middle Class Crisis eBook available on Amazon.com, the introductory facebook page of the same name and the companion facebook resource, support group, Financial Survival Resources for The Poor Middle Class.
It is time for a change, a paradigm shift to a new kind of economy. We need an economy that offers alternatives to money as its foundation. We no longer have a large Middle Class or the ease to be part of it. Our government’s focus has shifted. We have a growing Poor Middle Class and increasingly fewer people in possession of the government produced money.
If the economic paradigm does not shift, this is the direction we are headed in. Many people will have to live like slaves. They will continue to have to work two and even three minimum wage jobs. Even then, they may barely make enough money to survive. Also, they may still need government assistance, like food stamps to make ends meet and health insurance to survive.
If people are not fortunate enough to find work, are not able to work, can’t support themselves or their families and cannot get enough government assistance, they may also become homeless. The number of homeless people in this country is also increasing. One of the changes that needs to take place does not involve going backwards.
The problem will not be solved by increasing jobs in outmoded technologies that will be short lived and not provide health insurance. It will also not be solved by the government’s shifting money around where even less goes to the needy and more goes to national defense. As we know, the haves will rarely give enough to help the have-nots unless they are forced to. It does not look like the current administration is of the mind to force the very wealth to do so. This would require a substantial tax restructuring. This is not going to happen, either. Therefore, what is required is a completely new kind of economy.
The ultra-wealthy 1% and other very wealthy people might be exempt from needing to be part of this paradigm shift. They could keep their money. In fact, they would continue to monopolize this government commodity. But for those of us who suffer from the lack of money and the results of the unwillingness of the wealthy to share theirs with us, we need a system for The Middle Class, The Poor Middle Class and The Poor to rely as little as possible on government controlled money. As the saying goes, ‘the solution is not in the problem’.
I believe that we are in the beginning of this paradigm shift. Money is becoming harder to come by for too many of us. Therefore, we need to be less dependent on it. As a matter of fact, cash produced by our government is much less involved in our daily goods and services transactions. Here are some of the ways this has already changed:
• Paying with credit cards and being rewarded for it with cash or travel points. See posts about Cash Rewards Credit Cards and Travel Rewards Credit Cards.
• Community currency or local currency is defined by Wikipedia as “In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations”.
• Bartering all kinds of food and products (on an individual or community cooperative basis) The Barter Network
• Acquisition without money such as foraging for food, using natural sources of energy, street find, reuse of existing found materials, scavenging for food and other usable items
• Homesteading and off grid living as close to what nature can provide with a bare minimum of cash to live such as Off Grid with Doug and Stacy
• Bitcoin is a digital, international coin system not produced by the US government
This is just the beginning of opening the doors and windows of the proverbial ‘thinking outside the box’. Paradigm shifts do not take place overnight. They only appear to in an historical perspective. We do not have that perspective, yet. This movement is much too new. But the good news for many of us is that is it a is happening and it is in its beginning.