Rewards

Everyone gets goosebumps for reward cards. EVERYONE. Even pets! says Gerri Willis Last year over 6 billion credit card solicitations were sent out. You alone probably received about 72 offers. According to Gerri, When it comes to reward cards, there are generally three types of programs: point-based programs, like the one from American Express, cash-back programs, and, of course, frequent flier reward cards.

I have often wondered about this reward cards, yet I have a few of them. So I did some reading.

(a) Point-based programs, let you accumulate points with your purchases and then you get to choose your reward.

(b) With cash-back cards, you may have to spend a certain amount annually before you get the advertised rebate.

(c) As for frequent flier reward cards, to get a free airline ticket - in most cases, you'll have to spend $25,000 a year to earn a domestic flight.

All these entices sound good but are they worth it? Yes, it's all in the details. With today's high gas prices, gas-rebate credit cards are becoming increasingly popular. And chances are, you've been tempted just as I was. Right before Thanksgiving last year, I signed up for a Best Buy rewards zone Mastercard. With this card I would earn 4% on Best Buy purchases and up to 3% elsewhere. Between then and last week I had earned some 3500 points which are equivalent to $65.00. And because my 4 year 2.4Ghz phone was kinda outdated, I decided to upgrade. So off I went to Best Buy and found this Uniden - DECT 6.0 Expandable Cordless Phone. With the $65.00 coupons and an additional 10% I ended up paying $7.00.

With the price of gas hitting the roof, it makes sense to enroll in a gas-rebate credit card. After all, whether you like it or not you'll pay for gas (unless you ride a bicycle). I found one in early February (Chase Perfectcard). With the Chase PerfectCard, you earn a 3% rebate on all eligible gas purchases at any gas station and a 1% rebate on all other purchases. Your rebate is automatically credited to your monthly statement - no forms to fill out, no keeping track of points. I am curious to find out how much money I'll have earned by the end of the year. Keep in mind though that you have to be very disciplined in paying off (in full) your purchases when you get your statement.

I hope to revisit this post at the end of the year and share my rebates!!!

Parallel of great principle: "The LORD rewards every man for his righteousness and faithfulness." 1 Sam 26:23

Football & Finances

I feel compelled to re-post this advice courtesy of SavingAdvice.com.

What Football Can Teach Us About Finances
March 5, 2008
By Cortni Marrazzo

The football season is over now, and while that makes my husband very sad, it actually makes me pretty happy since I don’t particularly enjoy football. While I can’t get too interested in watching the game itself, I know there are some things to learn from the game. For instance, it’s better to be on offense and trying to score a touchdown than being on the defense and only trying to keep the other team from scoring a touchdown. For the most part, a team is at a better advantage when they are on offense since they are actually (hopefully) executing plays that will bring them closer to the end zone. They are more likely to score a touchdown when on offense than we they are on defense.

The same goes for our finances. When we are on offense, we are in essence executing decisions that will bring us closer to financial success in life. When we are on defense, we are simply trying to stay ahead and not let things fall behind. By taking control of your finances and doing things that will bring you closer to financial success, you are not having to react to circumstances and take drastic measures to keep you out of the red. Here are some ways you can be on offense instead of defense in your finances. It may seem like you’re only gaining 1 or 2 yards per play, but eventually you’ll get to the end zone and make a touchdown.

Offense: Cutting back on spending in some areas so you can stock your emergency savings

Defense: Cutting back on spending in all areas so you can pay all your bills and minimum payments

If you take the lead on cutting certain expenses in order to stock your savings, you’ll be more equipped to handle unexpected expenses that come up and you won’t be forced to eat Top Ramen and abstain from all extra spending (or worse, end up in credit card debt)

Offense: Funding your retirement plan and saving for the future when you are young

Defense: Having to continue working at age 75 to be able to pay all your bills

You will end up paying for your later years at one time or another — either when you’re young or when you’re old. It’s best to stock up for it now so that you can relax and enjoy life in your old age and not have to worry about working full time.

Offense: Setting up automatic payments on your bills

Defense: Trying to scrounge up money to pay for late fees

A few simple moves to set up automatic payments for your bills will keep you from unnecessary late fees that can incur if you forget to make a payment on time. This can also help your credit score.

Offense: Waiting to make a purchase until the item goes on sale

Defense: Regretting that you bought an item a few weeks ago that now costs considerably less

Pretty much all things go on sale at one time or another. You can either buy it the second you want it and pay a lot more, or you can be patient and wait until it goes on sale. That way you are paying a lot less for the same exact item.

Offense:: Buying an older used car until you can afford to buy a new (or newer) one

Defense: Having to buy an older used car and having to sell you new car because you can’t afford the payments

I personally like to move up and not down. It’s nicer to start with an older car and move up to nicer cars knowing that you will be able to keep them. It’s not as bad going without the extra features when you’ve never had them before, but it’s not fun getting used to having them and then having to downsize.

Offense: Buying a smaller house and fixing it up in order to sell it for a profit to put that money towards a bigger house later

Defense: Having to move into an apartment or move in with family members because you bought too expensive of a house and can no longer afford it

Same with the car one above — you don’t know what you’re missing if you start without it and only upgrade when you can truly afford to do so.

Offense: Going on a vacation and being able to relax knowing that it has already been paid for by money you’ve been saving up

Defense: Going on a vacation and stressing the whole time about the fact that you still have to pay for it once you get home

How relaxing can a vacation be if you know you’ll still be paying for it in a year — or worse, that you don’t know how you’ll be paying for. Peace of mind is just as important on a vacation as where you go.

Offense: Working through college and taking classes as you can afford to pay for them so you can actually keep the money you make in that career field

Defense: Taking out student loans and spending the majority of your career paying back those loans with a large portion of your salary

If you take on a large amount of debt to get a degree, what difference does a bigger salary make if you’re putting most of that money towards paying off your huge student loan debt?

If you choose to take proactive steps in your finances, you can keep yourself from a lot of trouble spots in life. You choose whether you take the steps toward your financial success or if you simply try to fight off things as they come to you. Choose the offensive and head down the field towards your financial end zone.

Do you not know that in a race all the runners run, but only one gets the prize? Run in such a way as to get the prize - 1 Cor 9:24

Asante

We know, we know (you really don't have to tell us) that it's been quite a while since we blogged. First things first:

Thank you so much for all your help and support for families affected in the Kenyan Crisis. Now I hear they are called IDPs; my brother refused being labeled and is exploring new frontiers in Central. I am sure he shares this sentiment with thousands of others. Asanteni Sana.

I don't have to tell you anything new about what you already know regarding skirmishes aka clashes aka post-election violence. In fact I got an email from Otis about New Born's in Nyanza (Looting Apiyo, Skirmishes Achieng, Anti riot Police Auma, Rubber Bullet Oloo, Shoot Me Onyango) - That tells us much.

So looks like the Obusuma is cooked and everyone has sat down to enjoy the dish.
We'll now get back to blogging.

"When evening came, Jesus was reclining at the table with the Twelve. And while they were eating, he said, "I tell you the truth, one of you will betray me." - Matthew 26:20,21