How we are still earning 10% Back on every card swipe...
Maximizing the earnings on our spending for future vacations!
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Hello and welcome to our new subscribers, thank you for being here and thanks to those who continue to share this newsletter with their friends and family <3
It’s been a while since we last wrote due to the birth of our daughter a few months back. While I’m sorry to leave you all hanging, we’ve been very happy to take on the most important job of parenthood but are also excited to get back into the swing of things with All Ways Away.
As we start preparing for our first flights with baby, we’ll be sure to share our learnings along the way. In the meantime, we’ve been working to replenish our points stash knowing that Business Class seats will be that much more appreciated with a lap infant in tow.
Today I wanted to revisit my most popular post to date. It’s been over a year since publishing and while the advice in the original holds true, I wanted to cover some additional strategies today. Before we jump in, I highly recommend reviewing the original here:
Now that you’ve reviewed that, welcome back. The strategy more simply put is as follows:
Open a high yield checking account like Wealthfront Cash
(We are not sponsored by Wealthfront, we’re just HUGE fans!)Make that account your central hub for direct deposit (income) and monthly credit card full balance payments (expenses)
Open a credit card with 0% introductory APR (usually 12-18 months) and use that card for all expenses, especially if you have a large purchase coming up (renovation, special event or party, etc)
While the route I recommend to open a business credit card makes this much more streamlined, there are learnings from this approach you can garner:
0% APR Offers — while most of us are chasing sign up bonuses and other premium card perks like lounge access, the most rewarding offer can be a simple as an 0% APR offer. If you currently have credit card debt, most of my content isn’t applicable since I wouldn’t recommend a lot of what we do, but I would recommend trying to work with a bank like Chase or Wells Fargo that offers various 0% APR cards to see if you qualify for a 0% APR balance transfer. An hour or so making calls might save you hundred or thousands of dollars and give you a reprieve from high interest rates so you can hone in and get rid of that debt owed.
If you don’t carry a balance on your cards (congratulations!), 0% APR offers are still valuable assuming you can earn interest on those funds while you wait to pay off the card balance. Again Wealthfront and other high yield checking accounts are still offering 5%, our referral will get you a bonus 0.5% for the first 90 days on up to $250k with full FDIC insurance.Tracking & Staying Organized — Last, but not least is ensuring you’re keeping track of what’s already in your wallet and whether you’ve reached bonus point maximums, are current on your payments, etc. We have historically tracked our expenses on Mint, then moved over to a custom spreadsheet when Mint shut down, and recently treated ourselves to a paid subscription with Copilot, and it’s been a game-changer.
Copilot is the best budgeting and financial management app I’ve ever used. While I was hesitant to pay the $95/year, I now think it’s the best $95 I’ve spent this year. Whether we want to admit it or not, we all need a budget and if you can afford the $95, it’s worth paying for a service that will keep your data private and not constantly try to upsell you with various financial products (like Mint was doing towards the latter half of their service). Use our referral code 48839W to get 2 months free https://copilot.money/link/5YBC4nkg8UmZYVrf7
Ok, this is already a dense issue so next week we’ll discuss current travel deals, as well as a few destinations we’re eyeing for the rest of this year and beginning of next. Until then, be sure to reply with any questions or if you need help choosing your next card.
❤️AAa
Thanks for reading, please share this with someone who needs a points primer. If you’re just getting started, check out the mini-course at allwaysaway.com
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