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What do you do with your Rewards?

January 21st, 2012 at 11:49 am

I've taken advantage of some credit card Rewards bonuses lately. In the past I would just cash it out, but then the checks never really "did" anything. It would come in handy for a car repair, or a night out. I would have "found" money in my budget for those things even without the rewards cash, though.

I want the rewards money to go towards something, I think it would be more motivating for me. I debating should my rewards cash go towards our vacation in the fall or Christmas. If it goes to the vacation, well, that's great, it will really boost the fund, but when that is paid in full in August I'll have to start from scratch for Christmas. That doesn't give me much time to save.

I don't have to do anything with them right now, they will just continue to grow online. It is for my own piece of mind, to know where my money will be going!

How does everyone here organize their Rewards loot?

Posted in Uncategorized | 4 Comments »

4 Responses to “What do you do with your Rewards?”

  1. Mary Ann Says:
    January 21st, 2012 at 01:58 pm 1327154309
    1327154309

    I know exactly what you mean...so this year I started my $20. challenge and all rewards or otherwise unexpected money is going into my $20 challenge savings account. Haven't decided what I will do with the money yet! LOL

  2. MonkeyMama Says:
    January 21st, 2012 at 02:08 pm 1327154909
    1327154909

    We put ours to our mortgage and give it to charity. Some of our rewards get redeemed directly into our retirement fund. I don't tend to use extra money for anything but savings though would maybe use for a big splurge I couldn't afford otherwise. I just don't like to use non-regular sources of income to pay for any regular bills - just a bad habit I don't need to get into, so why I really separate it out.

  3. Looking Forward Says:
    January 21st, 2012 at 09:13 pm 1327180427
    1327180427

    The cash I use to help paydown cc balances.
    Gift cards I use for gifts or special purchases.

  4. frugaltexan75 Says:
    January 22nd, 2012 at 05:33 am 1327210415
    1327210415

    I use the cash rewards (like cash back on credit cards) and other cash rewards to bulk up my EF. (At least this is what I am doing now - previously they got lost in everyday spending or used to buy books for the library.)

    Gift cards - I generally go for Amazon gift cards, and use those to purchase books for the library.

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