Do you have a credit card? Do you use it often, or generally look for other ways to pay your expenses?
If you’re confident in your ability to responsibly use your credit card, it’s a good idea to consider the many monthly expenses to pay with it. Not only can this bring convenience and organization to your life, but it can also make you money by way of rewards or cash back.
Here are five monthly expenses to pay for with a credit card.
1. Utility Bills
Most people don’t enjoy paying their utility bills. It’s time consuming and expensive. While there’s only so much you can do about the cost, using a credit card brings convenience to the process while allowing you to collect reward points or cash back.
It doesn’t matter if you’re single or buying food for a family (big or small), you know that this expense can quickly add up. From groceries to eating out to morning coffee runs, your food expense could be one of your highest.
From a convenience point of view, a credit card will change your life for the better.
Do you really want to pay with cash at a gas station? You have to go inside, wait in line for the cashier, and then pre-pay. And if you don’t get enough gas, you have to go back inside for your change.
With a credit card, you can quickly pay at the pump. To take the benefits to the next level, opt for a gas credit card that provides a higher rate of cash back or points when for every gas station purchase you make.
Cutting back on entertainment expenses is a great way to save money, but eliminating this entirely from your budget is next to impossible. Maybe you like to go to the movies once a week. Or maybe you like to get drinks with your co-workers after a long day on the job. You get the point. There’s a lot that fits into this category.
Use a credit card to not only pay for entertainment expenses, but to also track your spending.
There’s a good chance you pay for many types of insurance coverage, ranging from auto to home to life to disability (and that’s just the start).
If you pay these premiums once a month or every six months, consider doing so with a credit card. You can even setup automatic payments to remove yourself from the process and ensure that your coverage never lapses.
So, there you have it. As you can see, there is no shortage of expenses to pay for with a credit card.
Review your budget, make note of how to use your credit card, and formulate a strategy for moving forward. You may soon fall in love with the benefits it brings to your life.