A friend says " I don't know why my brothers are bad at money. It's only grade 8 math"
I said "Not true. You learn adding and subtracting long before grade 8"
Ever watch "Til debt do us part"? Yes it's reality tv so of course it's not all real but enough is to see how stupid some people can be with money.
I have the momentum cash back black but am looking as well something with more rewards would be good the doubling of warranty has been handy for appliances. Used it once to get a new dryer.
I wanted to shop cards but the Squeeze pays most things online and didn't want the hassle of updating those accounts.
If she's willing to handle all the bills, I'm willing to keep my hole shut.
A friend says " I don't know why my brothers are bad at money. It's only grade 8 math"
I said "Not true. You learn adding and subtracting long before grade 8"
Ever watch "Til debt do us part"? Yes it's reality tv so of course it's not all real but enough is to see how stupid some people can be with money.
I wanted to shop cards but the Squeeze pays most things online and didn't want the hassle of updating those accounts.
If she's willing to handle all the bills, I'm willing to keep my hole shut.
I have a love / hate relationship with TD , liking them more these days . Scotia was a bit odd on a couple things , but that could have been me.
We use a cash back Visa with our world elite Mastercard, we pay for things depending on where the value is. Wife has a PC Mastercard just for groceries.
I have people ask , why have three or four charge cards ? Go on holiday and have an issue , like a fraudulent charge , spend your holiday figuring out how to get a replacement card and cancel your s out , or just cancel it and carry on with life on the other card .
And upbringing. If you're taught concepts of saving and delayed gratification it'll come more naturally. Especially in this day and age of non stop dopamine at the end of your fingers.
If you get an allowance and are guided and encouraged to set goals and save up for them, etc. from a young age, it becomes a lifestyle as well.
It's easier than ever to save, tool-wise, but the social settings (social media and its unrealistic portrait of what life should be) play mind games with people. Obviously the cost of living being what it is doesn't help but that's just another factor in the equation
I have a love / hate relationship with TD , liking them more these days . Scotia was a bit odd on a couple things , but that could have been me.
We use a cash back Visa with our world elite Mastercard, we pay for things depending on where the value is. Wife has a PC Mastercard just for groceries.
I have people ask , why have three or four charge cards ? Go on holiday and have an issue , like a fraudulent charge , spend your holiday figuring out how to get a replacement card and cancel your s out , or just cancel it and carry on with life on the other card .
Most people will benefit from having 2-3 cards
1) A card that collects benefits for day-to-day purchases, bill payments etc.
2) A low credit limit card used for online shopping. Get it from the same bank as card 1 and use it as your backup when travelling.
3) A USD card if you travel abroad or purchase US dollar items. While these don't have cashback or points, the FX savings is usually greater than the points or cashback.
And upbringing. If you're taught concepts of saving and delayed gratification it'll come more naturally. Especially in this day and age of non stop dopamine at the end of your fingers.
If you get an allowance and are guided and encouraged to set goals and save up for them, etc. from a young age, it becomes a lifestyle as well.
It's easier than ever to save, tool-wise, but the social settings (social media and its unrealistic portrait of what life should be) play mind games with people. Obviously the cost of living being what it is doesn't help but that's just another factor in the equation
One of my kids wanted a Switch when they were seven. I wasn't going to buy it so I told them to save up money and buy it themselves if they wanted it. I was hoping that would teach them restraint and the joy that comes with delayed gratification. Between christmas, their birthday and generous grandparents it was months. Boo. I was hoping for a year. Lesson failed. Things come easy. Oh well. I'll try again in the future.
In credit card parlance, you're what's known as a "deadbeat" customer - someone who pays off their balance each month, thus making it difficult for credit card companies to make money off of you.
Don't worry, they're making money every time you swipe that card.
Maybe not interest from YOU, but... Merchant fees.
That's why I'll often offer to pay cash on something if the price is over say.. $500..
More often than not the merchant will knock off the 3-5% they'd be losing to the credit card fees...
there is some fine print on a vendor agreement with the charge card companies that they "arent supposed" to offer any discount to make any payment beyond the card discountable , but i have no idea who would police that . The card companies also make a lot of money selling your data , buying habits and purchases . In the information age that stuff is gold.
there is some fine print on a vendor agreement with the charge card companies that they "arent supposed" to offer any discount to make any payment beyond the card discountable , but i have no idea who would police that . The card companies also make a lot of money selling your data , buying habits and purchases . In the information age that stuff is gold.
For a while, they couldn't charge a premium for cards but they could offer a cash discount. I think something changed a few years ago that removed that restriction.
there is some fine print on a vendor agreement with the charge card companies that they "arent supposed" to offer any discount to make any payment beyond the card discountable , but i have no idea who would police that . The card companies also make a lot of money selling your data , buying habits and purchases . In the information age that stuff is gold.
Way back retail vendors could posting 2 prices, they were never prohibited from giving discounts for cash or debit. Those days are gone, vendors can post both prices as long as the 'with credit card' price is noted as a surcharge, and not greater than what they are charged to process the transaction.
Credit card companies do not sell your data. They can sell & share aggregated data like average spend by locale, seasonal transaction trends, credit utilization averages, average price for online flight purchase vs in-store etc. It's not a money maker for them, they do it mostly as a value-added service for their large customers. For example, VISA might give or sell General Motors the average spend data for each postal code in the GTA to help them target promotions -- but they won't provide GM a mailing list or any personally identifiable data.
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