In this episode of PennyWise, host Nat Cardona joins a financial expert from NerdWallet to discuss five ways credit cards can ease the burden of back-to-school spending. With the school year approaching, families often face significant costs for clothing, school supplies, and electronics. This episode offers practical tips to make these purchases more manageable.
The conversation begins with the benefits of credit card rewards. Whether it’s cash back, points or miles, redeeming these rewards can help offset the cost of back-to-school shopping. Listeners are encouraged to review their current credit cards to make sure they meet their spending needs and explore new cards that offer valuable sign-up bonuses.
Next, they discuss the benefit of 0% offers. These interest-free windows can be especially useful for spreading the cost of school supplies without incurring additional fees. However, it’s important to understand the terms and make sure the balance is paid off before the promotional period ends to avoid retroactive interest.
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The episode also highlights the value of online shopping portals and card-linked offers. By shopping through a credit card’s rewards mall or taking advantage of linked offers, consumers can earn additional rewards or discounts, further preserving their back-to-school budget.
Another tip is to take advantage of credits associated with certain credit cards. These can include discounts on meal delivery services, streaming subscriptions, and more. Such perks can provide convenience and savings during the busy back-to-school season.
Finally, the importance of budgeting and responsible credit card use is emphasized. Only paying what you can repay and spreading purchases throughout the year can help manage spending effectively. Listeners are reminded that it is crucial to pay off the card balance in full each month to avoid interest charges that can wipe out the value of rewards.
In this episode of PennyWise, you’ll learn expert advice on how to make the most of your credit cards during the back-to-school season. Implement these strategies to reduce financial stress and make your money work for you.
