Credit card or debit card?

I recently wrote about how to save money using a credit card a few days back but not all Filipino consumers own one. For some, they simply don’t want to have a credit card because it’s just a temptation for them to spend more than they can actually afford. If a credit card is not appropriate, then a debit card is the right tool. A debit card is a prepaid card in which you only get to spend the amount loaded on your debit card. Use it in the grocery, gas stations, paying bills and wherever establishment the card is accepted, it works just like a credit card, only better. It is impossible to overspend so you can control your expenses and you won’t go into horrifying credit card debts. Another advantage is because it’s also a savings account, you get to earn interest from your money, not the other way around with a credit card.

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How to save money using your credit card

Yes, you can save money using your credit card. You might think that having a credit card is just a temptation waiting to explode, huh? Well, for the wise-spenders, you can actually make use of your credit card to earn perks, freebies and benefits. But first, you should scout for the best credit card out there that suits your preference or needs. For example, if you’re a jetsetter, you might want to consider a credit card that ties up with an airline company that lets you earn travel points like a BPI Worldperks. If you often gas up at Petron, then you might want to get the BPI-Petron credit card to earn rebates. Other credit card companies like Metrobank has an M card that specifically targets their female clients.

Obviously, I’m using BPI credit card for 5 years now, a loyal and very happy client. And throughout those 5 years, I learned some credit card smarts that I want to share to let you save money by using your credit card:

BPI credit card Jollibee promo
BPI credit card Jollibee promo

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Scouting for good investment rates

For the past month, I’ve been checking out online websites of different banks to compare which bank gives the highest interest rates. When I was still single, I started out with BPI and when Jeff and I got married, we opened another account with BDO. Although we’re happy with both banks, it won’t hurt to look for other options that can give higher rates especially for a time deposit account. I’m eyeing the Perk Dollar Time Deposit of Asiatrust Bank which states that money can earn as much as 4.75% p.a. This is only a modest way to grow our money but at least, we get to save for our retirement early on. It may not be as high yielding as having a gold IRA, but as long as the money is safe, we’re gonna let it stay there for the meantime.

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Win Entrecard credits for quoting posts from Happy Family Matters

Wanna get 100 Entrecard credits? Happy Family Matters is giving away 100 Entrecard credits for quoting posts from the site. Just choose from the tips in the All-Time Favorite Tips and Categories located in the sidebar and make the best post out of it. The best post will also win 1,000 ec on April 23, 2008.

I am married for 1 year and 3 months to be exact. Everything is peachy and no major arguments weren’t solved at the end of the day. The usual give-and-take relationship must always prevail and patience is imperative. Unfortunately, failed marriages are rampant nowadays. Incompatibilities, wrong decisions, falling out of love, third parties and money matters are some of the causes. One useful tip I’ve found “How to avoid money from destroying your marriage” will surely help couples in their relationships. I particularly applaud the author on stressing out the importance of saving for the future. Allotting a percentage of your salaries no matter how small will do wonders in the future, not only for the couple but for their future children as well.

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