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MYTH: It’s always cheaper to pay with cash.
Most people say that you’ll always spend less with cash and I say that’s just not true for everyone. If you do pay with cash, always ask if there’s a cash discount. My nail salon gives 10% off for paying with cash.
If there’s no discount, it’s always better to use a high rewards credit card. There are so many out there, check out the benefits and figure out what’s best for you. My card gives me 2.05% back to go toward travel, I like to say I pay 97.95% for everything. So if I put $25,000 a year on a credit card, that’s over $500 back that I wouldn’t have if I used cash. $25000 a year seems like a lot to put on a credit card, but if you use it at the grocery store, use it to pay your internet bill, use it on any bills that don’t charge fees, you’ll really see the bonuses add up. Just make sure you pay the bill in full each and every month. We should NEVER pay even one cent in credit card interest.
I like paying with credit cards better than debit cards because you get the added benefits and you get better protection in most cases than you do with a debit card. If someone steals your information with a credit card they won’t have the ability to empty your bank account like they do with a debit card. Just make sure you’re not spending money you wouldn’t have spent with cash. Fiscal responsibility is key.
MYTH: It’s usually more expensive to buy online than to shop in store.
Get in the habit of using FREE money saving programs. If you shop online a lot, make sure you’re signed up for programs like Ebates and Top Cash Back. They give you a percentage back of whatever you buy. Search for promo codes wherever you’re shopping, online it’s really easy to combine promo codes to save the most money possible. At Kohl’s you can combine up to four codes on the same item! If you use Ebates, you’ll save even more on top of that.
MYTH: Costco is always a good deal
Costco does have some great prices, but they have some really high prices on items too. You can often find the same items for a lot less when they’re on sale at the grocery stores, do your research. If you won’t go through the items before they expire, it’s definitely not a good deal to shop there. The one item I love at Costco is the $4.99 rotisserie chicken. It’s consistently good and huge.
MYTH: If an Item You Already Bought Goes on Sale, Too Bad
Most stores will credit you the difference within a certain period of time, it’s always worth a phone call or e-mail. You’ll be amazed what stores will do to keep you from taking something back.
