American Express Platinum Cashback Credit Card

By: Mr Credit Card

04/22/2010

Summary: The UK American Express Platinum Cashback credit card includes a wide range of benefits that American Express offers cardmembers as well as a program with opportunities for significant rewards, including the highest introductory cashback rate on the market.

Features and Benefits: The American Express Platinum Cashback includes free supplementary cards for friends or family which will earn cashback even faster and 24 hour customer service. Cardmembers will also receive purchase protection for replacement purchases if an item is stolen or damaged in 90 days, refund protection if you cannot get a refund from a retailer within 90 days, online fraud guarantee and travel accident benefits which cover up to £150,000 in the event of loss of life, sight or limb when public transport travel tickets are charged to the credit card.

American Express also offers access to American Express Selects, which provides exclusive offers to top brands from around the world as well as the Preferred Seating program which gives listings of events and the best seats before anyone else.

Fees: There is no annual fee for the credit card and an APR as low as 19.9%.

Rewards Program: For the first three months of cardmembership, you will receive 5% cashback up to £100^.After that, you receive up to 1.25% cashback with no limits on the amount that can be earned. Each time you use the credit card, you will be rewarded with cashback to spend as you like. If you spend under £3,500 in a year, you will earn 0.5% cashback, £3,501 and £7,500 to earn 1% cashback and over £7,501 in the year, you will earn 1.25% cashback.

Conclusion: The American Express Platinum Cashback credit card is one of the best UK rewards credit cards for earning cashback, boasting the highest introductory cashback rate of 5%. Cardholders not only earn the most rewards but are able to take advantage of the additional benefits that American Express is known for providing its members.

Some Pretty Strange Reasoning On Credit Cards

By: Jason Steele

04/21/2010

I am one of the rare individuals who enjoyed studying economics in college. I loved microeconomics and was fascinated by macroeconomics. As I listened to the lectures and read the texts, I had so many “ah ha” moments in which I felt like I finally understood why so many things were the way they were. The downside was that I was destined to spend the rest of my life rolling my eyes when I read editorials that mess up basic economic principles in order to prove some point.

Case In Point

Today’s New York Times features an Op-Ed by Albert A. Foer of the American Anti-Trust Institute in which he argues that we are all being gouged by credit card companies in fees to the tune of 48 billion dollars a year. As I will explain, you pretty much have to throw out some of the basic laws of economics to sustain his argument. Foer argues that Congress should set the fees that credit card companies are allowed to charge merchants. The foundation for his argument is that these fees are being passed directly to consumers:

Card companies generate those returns by charging an “interchange fee” for every credit or debit transaction they run — when a merchant accepts your card for a $100 item, it gets approximately $98 in payment. These costs are passed on to all consumers — even those who pay by cash — in the form of higher retail prices. None of this is new or controversial information.

Foer omits the simple economic fact that prices are set by the market. This principle invalidates his argument that merchant fees should be regulated, and that the cost is passed on to consumers. Merchant fees vary based on the card accepted. American Express has higher fees, and fewer merchants choose to accept it. Here, the market sorts this out. Some companies choose not to accept any credit cards at all.

When it comes to the prices that merchant charge, supply and demand will again set the price. Merchants will charge the highest price the market can bear, regardless of what their costs are. The idea that the interchange fees are passed directly on to consumers is a fallacy. Companies have all sorts of expenses as well as the need to generate a profit. You can take any line item from a company’s balance sheet, from worker’s health care to executive’s private jets, to the profit itself, and exclaim that these costs are passed directly on to consumers. Merchants pay the costs of doing business out of their own expenses on the belief that the expense is justified. A company pays part of its employee’s health care in order to attract top talent. They may purchase corporate jet to minimize the amount of time an executive wastes in airports. Profits are taken in order to justify keeping the business open. Likewise, merchants may pay interchange fees to credit card companies in order to reduce the costs and risks of accepting, counting, storing, and transporting cash, as well as to provide a convenient method of payment and financing to its customers to encourage sales. None of these expenses are passed on directly in the price paid by consumers. Prices are set by the market and non-tax expenses only exist because their value can be justified.

None of the benefits a merchant receives from accepting credit cards are addressed in Foer’s Op-Ed. Neither does Foer mention the market forces at work that determine the interchange rates.

The Worst Deception

The part I despise the most about his method of reasoning is where he tries to solidify his specious argument with the statement: “None of this is new or controversial information.” This line is a staple in the propaganda of charlatans around the world; “Well everyone knows (insert unsupported idea)”.

Where Is This Is Going?

Foer then argues that the government should step in and abolish merchant’s debit card fees and set a limit on credit card fees. He reasons that debit cards are the same as checks. Tell that to a merchant who takes a loss because he or she accepted a bad check. As for the government setting an arbitrary limit on merchant fees for credit cards, that does not really sound like a very free market approach. Even if the problem is that the market for interchange fees is not working, as I suspect it may not be, I have a hard time believing the only solution is government mandated price fixing. I only hope the credit card companies have less influence in Congress than the merchants, or they might convince lawmakers to just double these fees! A merchant’s version of the CARD Act would be a better solution. Like the consumer version, a merchant CARD Act should not fix rates.

Foer rests his argument on the idea that fixed fees would be more fair and would “save” $36 billion dollars a year resulting in “significant economic stimulus”. If merchants “save” these billions, than it is just the credit card companies who are loosing these billions. Frankly, as a consumer, I really don’t care how much money is saved or lost between my credit card processor and the various merchants I spend my money with, but I know it is a zero sum gain to the economy as a whole rather than a stimulus.

What I do care about is that a huge portion of these interchange fees are refunded to cardholders in cash back and other loyalty programs. If his idea were to be implemented, we can be sure most of these rewards would go away. Prices will not change, they will continue to be set by the market, but savvy credit card holders will loose out on much of their valuable rewards.

Wisdom Financial Services Rewards Visa Credit Card

By: Mr Credit Card

The Wisdom Financial Services Rewards Visa credit card by PartnersFirst is the official card for Wisdom Financial Services, Inc. which specializes in home loans and provides consultations and mortgage and loan information. This credit card is especially appealing if you shop frequently at home improvement stores.

Who is Wisdom Financial Services, Inc.?

Wisdom Financial Services, Inc. is a mortgage broker in Fullerton, California which is licensed by the California Department of Real Estate and California Department of Corporations. They provide a number of loan programs that include fixed rate mortgages, adjustable rate mortgages, hybrid ARMs, FHA loans and reverse mortgages. They also provide mortgage calculators and free consultations as well as a ton of information on mortgages to help decide which one may be the best for you.

Features of the Wisdom Financial Services Rewards Visa

There is no annual fee for this card and an introductory APR of 0% on balance transfers for the first 6 monthly billing cycles. The interest rate may be as low as 12.24%. Cardholders also receive total fraud protection, 24/7 customer service and 24/7 online account access.

Rewards Program

Card members earn 1% cash back on all purchases and double points on every purchase made with the card at “Big Box” home improvement stores. Points can be redeemed for airline travel with no blackout dates, hotel stays, merchandise, gift cards for stores and restaurants and even cash or a statement credit.

Home Depot Card Comparison

We’ve compared the Wisdom Financial Services card to the Home Depot card because of the ability to earn points for home improvement purchases. The Home Depot store card is currently offering an interest rate as low as 17.99% and no interest on purchases of $299 or more that are paid in full within 6 months. The Home Depot Rewards MasterCard is no longer available. Because of the 0% introductory APR on balance transfers with the Wisdom Financial Services Rewards card and the ability to earn double points on home improvement purchases, this card may be better for you than the Home Depot Card.

Conclusion

If you are looking for a credit card that allows you to earn rewards on purchases at home improvement stores you may be interested in the Wisdom Financial Services Rewards Visa card. Cardholders receive can receive cash back and benefits for everyday purchases as well as double points on home improvement purchases. Check out this credit card especially if you are planning a large home improvement project, and earn rewards from your purchases. You may also want to consider Wisdom Financial Services, Inc. if you are shopping for a mortgage.

It is also a good card to check out if you’re looking for an introductory rate of 0% on balance transfers.

Saving Money Eating Out

By: Jason Steele

04/20/2010

Eating out is serious fun, and can be seriously expensive. For a few years now, I have been saving some major dough with Restaurant.com certificates.

Some people think that it is just a scam. I don’t blame them because it has all the indications of being too good to be true. This deal is NOT too good to be true, it actually is a fairly efficient way to save money eating out. The key is to understand the way the system works.

For example, I went to a nice dinner for for two at a great restaurant this Saturday night and bill came out to $12 before tip. We had two 12-14$ entrees and two $5 appetizers. They correctly only charged us tax only on what we paid, and the tip was not included.

Some Restaurant.com Tips

1. Subscribe to their email list and get discount codes. Every few weeks you will receive a code for 80% off that allows you to the $25 certificates (that normally cost $10) for only $2. The $10 price for $25 certificates doesn’t seem like such a good deal once you realize that they can almost always be purchased for $2.

2. Read the restrictions! Don’t expect to use these certificates with other coupons and promotions, but happy hour is sometimes Ok, and some restaurants even allow takeout. If the restrictions are not clear, ask the restaurant about them when making a reservation. If you want to use it for lunch/brunch/fixe prix or whatever, just ask before you go. The worst think that they can say is no. If they say yes, write down the name of the person you spoke to just in case.

3. Restaurant.com customer service is great. If you a certificate and can’t use it for any reason, call them. They will gladly refund the credit to your acct so you can use elsewhere. On rare occasions where I had a problem, they have always given me a free $25 cert.

4. I personally don’t show the cert before the meal, even though they all say “present before dining”. My thought is that I might get poor service if they know how little we will be paying or because they know that they are getting a guaranteed tip of 18-20% as many certificates do. Only once did they call me out, and then it was only because they didn’t want to recalculate the bill by hand.

5. When a good restaurant appears, purchase a few certificates quickly. Often, really sought after restaurants will sell out early in the month as well. Participating restaurants tend to be a little naive the first month, not expecting people like me to order $35 worth of food and no drinks (I tip generously on the full amount, but I otherwise don’t want to blow the bank eating out.) Typically, a restaurant will offer certificates the first month with very few restrictions, and then latter start raising the minimum spending requirements and adding more restrictions. Besides, if you can’t use the certificate, you can always return it for a credit (see number 3).

6. Use Restaurant.com certificates when traveling. It is easy to forget that there are thousands of participating restaurants across the country. Their web site is also a great way to find new places when you are visiting a new city. Remember, a dollar saved on the road is as valuable as one saved at home.

7. Lower your expectations, slightly. Many people walk into a restaurant with a $25 certificate, order $35 in food and expect a bill of $10, but some restaurants inexplicably tax the entire amount before the discount, and then add the mandatory 20% tip to the whole thing including tax. This practice, while technically wrong, can have the effect of doubling your final bill from $10 to $20. I have yet to instigate an argument with the management as I am still getting a good deal. The key is to think of the certificates more like $15-$20 off instead of a true $25 discount.

8. Participating restaurants are representative of your area. Restaurants that take these certs are, on average, no better or worse than other restaurants in your city. Some are great, but some stink. Yelp is a fantastic resource scouting a restaurant. I use it just like I use Tripadvisor before choosing a hotel.

Sam's Warehouse Club Membership: How to Make Sure It's Worth It?

By: Mr Credit Card

In this post, we are going to take a look and review the benefits of having a Sam’s Club Membership. First, let’s take a look at much it cost to be a member.

Let’s look at the Sam’s Club Membership Tier Levels

You can enroll in Sam’s club as an individual or a business. There are two levels of memberships. The basic personal membership has a $40 annual membership fee and the “Advantage Plus Membership” has a $100 annual fee. Aside from being a warehouse club, using the Sam’s Club Discover Card can earn you “up to 1% rebates” for a basic Advantage member and “up to 2% rebates” if you are a Advantage Plus Member.

To entice folks to enroll, Sam’s Club has teamed up with various merchant partners to offer some of their services. For example, they have teamed up with Expedia.com for their travel portal (which is essentially an expedia.com disguised as Sam’s Club travel website). They also have an insurance portal where you can check rates and quotes. They have also partnered with First Data Corp to provide merchant processing services. My take on all this is to ignore them. If you are looking for a merchant processor for your business, you want to shop around for an ISO that provides the best cost and service level for your business.

How to Save and What is Cheaper At Sam’s Club

There are people on both sides of the fence concerning whether bulk and warehouse shopping like Sam’s Club, is actually worth the prices of the membership. Times are difficult for most people, regardless of the financial status, so finding ways to save any amount of money can make a big difference.

As with any kind of shopping, warehouse or not, you will need to keep a few things in mind in order to get the most “bang” for your buck. There are two requirements especially to making bulk shopping work for you.

Research
Discipline

Research Prices

When preparing to shop anywhere one should be aware of what the standing cost for the same product is elsewhere and compare. Otherwise, there is no way to know whether you’re saving any money and can also make a difference in which brands of products you purchase.

My family shops often at Sam’s Club, which is a discount bulk type store. Most of us can save by shopping there, but we must know our facts before going. Typically, most of the canned veggies and soups are cheaper there. The savings of ing them by the cases add up over time, and can be kept virtually forever in the pantry. Instead of ing canned beans every week when shopping, you can most likely purchase the case and only spend the money once or twice a month for a family of 4. Ramen noodle soups are a cheap staple for many families, and at Sam’s Club, they offer a box of 36 packages for around $6.00, which is around 17 cents per pack.

Another area of savings is the frozen veggie section. Huge bags of veggies for a fraction of the price you would pay elsewhere. Chicken and fish in bulk can also be a savings especially when none of the local grocers are offering a sale. True, you may need to separate and split up larger portions of frozen meat, but they end up being many meals over the long run.

Bulk paper products like toilet tissue and paper plates can be purchased for significantly less and are also a good at Sam’s Club as they are purchases you can always keep on hand. It’s also nice to not have to run to the store as frequently for these things, which saves money on extra store trips where you’ll inevitably find other things to purchase that you may not necessarily need.

The dry goods area can be a little spendy, so use caution when shopping for those items. Know your prices.

Discipline When Shopping

At Sam’s Club, there are taste test samples at the end of nearly every aisle. which can send a person to the closest cooler to get that great tasting tidbit and throw the budget way off. These are not usual great deals, especially if you end up ing something you don’t need or is not in your budget. At the same time though, the samples can be helpful if you are considering purchasing something and aren’t sure of the taste. Eventually, Sam’s Club will probably have a sample available for you to try out and make your final decision on the purchase.

The electronics can be great deals also, but if you don’t really need a new plasma television, you may want to pass on it. There are ongoing sales and specials on these items, so you’ll be able to pick one up when it fits better in the budget.

If you don’t research the prices beforehand or at least have a ballpark number, you may also encounter a product that is available in a mammoth size that looks great, like a jumbo cherry cheesecake or 4 dozen cinnamon rolls but is not beneficial to your budget. This is where it’s important to go into warehouse shopping with a little bit of discipline as well. If you stick to the necessities and the things that you know you can get a number of different meals out of, you’ll end up saving quite a bit more money than if you just walk in and grab everything that looks good.

You also have to keep in mind that large quantities of food need to either be able to be kept for long periods of time (like canned goods) or consumed before they go bad and are a waste of money. So, will you be able to eat the 10 lb Cherry Cheesecake before it spoils?

If you keep these two requirements in mind when shopping at Sam’s Club, research and discipline, you will be more likely to save money and make the membership worth its weight.

Credit Cards – One thing you have to note about Sam’s Club is that they only accept certain credit cards. For example, they accept Discover Card and MasterCard. They do not accept Visa or American Express though they do take Visa Debit Cards (just like Costco only accepts American Express!). Sam’s Club has an affinity card with Discover but frankly speaking, you can get the same rebate benefits with a regular Discover Card.

University of Nevada Las Vegas Rewards Visa Card

By: Mr Credit Card

Fans and Alumni of the University of Nevada Las Vegas can carry the official credit card by PartnersFirst. Purchases made with the Visa not only support the University of Nevada Las Vegas with but also earn cardholders exclusive rewards and benefits. We’ll take a look at some fun facts about UNLV as well as the Visa card offered by PartnersFirst.

About UNLV

The University of Nevada Las Vegas is located in Paradise, a suburb of Las Vegas. UNLV was founded as the Southern Division of the University of Nevada in 1957. In 1964, Twenty nine students were included in the first commencement ceremonies. In 1965 the school was named Nevada Southern University and in 1969 was changed to the current name of University of Nevada Las Vegas.

Celebrity Facts

In 1964, the dance between Elvis Presley and Ann-Margret was filmed in the Nevada Southern gym in Viva Las Vegas.
Frank Sinatra organized two benefit shows in 1970 for UNLV and was also a foundation board member.
The opening for the Thomas & Mack Center which is home to the Runnin’ Rebels basketball team was kicked off with a fundraiser by Frank Sinatra, Dean Martin, and Diana Ross in 1983.
Celebrity alumni of the University Nevada Las Vegas include Guy Fieri, Jimmy Kimmel, Suge Knight, Kenny Mayne and Anthony E. Zuiker.

Features and Benefits of the University Nevada Las Vegas Rewards Visa

There is no annual fee and an introductory APR of 0% on balance transfers for the first 6 months. The APR can be as low as 12.24%. There are two credit card designs to choose from. 24/7 customer service and total fraud protection are also included with card membership.

Rewards Program

Card members receive 1% cash back on every purchase. Points can also be redeemed for unique UNLV rewards and Rebel gear, valuable merchandise, gift cards from name brand retailers and opportunities for exclusive experiences. Cardholders can also redeem points for airline travel with no blackout dates and opportunities for travel excursions and exclusive sporting events.

Conclusion

Alumni, faculty, staff, friends and supports of University Nevada Las Vegas have an opportunity with this credit card to earn a wide variety of world-class rewards while supporting their alma mater just by making purchases with the credit card. You may also want to check this card out if you’re interested in transferring a balance from a high interest card to receive the introductory APR of 0% for 6 months.

Exclusive Connections Rewards Visa Card

By: Mr Credit Card

04/19/2010

Exclusive Connections is a company in Lena, Illinois which specializes in fuel rewards programs. Exclusive Connections has partnered with PartnersFirst to develop the Exclusive Connections Rewards Visa credit card to enable rewards and benefits for its customers.

Who Is Exclusive Connections?

Exclusive Connections has over 30 years experience providing companies with sales and marketing strategies that involve third party loyalty programs for convenience and grocery channel retailers and community partners. Exclusive Connections provides a variety of services which include creative card design to training programs as well as fuel based and point based programs. Products that are available include the following:

GasBuddy Retail Solutions

Exclusive Connections provide convenience stores a marketing program to gain customer loyalty. This program includes internet social networks and mobile devices for the world of new communications. GasBuddy OpenStore includes branded listings with all Gas Buddy affiliated websites and custom OpenStore Mobile Applications for iPhones, Blackberrys and other mobile devices. GasBuddy websites are the largest nationwide community for comparing convenience store offers. “OpenStore™ is licensed at a fraction of high advertising agency or internal development costs.”

Loyalty Programs

Exclusive Connections also provides retailers with loyalty programs that include loyalty cards for giving customers discounts or points on future purchases. Other loyalty programs available are fuel-based and points based programs and coupon or item based programs.

Features and Benefits of Exclusive Connects Rewards Visa Card

There is no annual fee and an introductory APR for balance transfers for 6 months of 0%. The APR on purchases can be as low as 12.24%. Cardholders receive total fraud protection as well as customer service 24/7.

Rewards Program

The Exclusive Connections Rewards Visa program includes 1% cash back on every purchase. . Points can also be redeemed for exclusive sporting events and experiences, adventure, airline travel with no blackout dates, high-end merchandise and gift cards.

Conclusion

Exclusive Connections offers a wide range of services to consumers and businesses which include fuel rewards programs and merchant services. Cardholders of the Exclusive Connections Reward Visa credit card will be able to take advantage of these benefits and services while carrying a credit card that provides additional benefits and rewards for events, experiences and merchandise as well as cash back.

Some Good Journalism and A Note Worthy Post.

By: Mr Credit Card

04/18/2010

During my reading this week, I came across a couple of post that I think should be read by everybody. The first post is from Craig Money Help For Christians. He examines a good old debate about whether credit cards make you spend more than if you only used cash. Rather than going through a rant like most folks, he actually examined his credit card spending and savings from cash rebates in a most methodical fashion. After his most thorough investigation, he came to the conclusion that he actually does save money using credit cards. Obviously this is not the case for everyone. Whether you are a pro or anti credit card person, this post is worthy for the sheer thoroughness in its investigation of facts. It is quality journalism of the highest order, which is sadly lacking in many blogs and mainstream media.

Another blog post that really caught my eye was from Jersey Mom. In an ealier post, she was asking her readers whether she should pay off your mortgage or a home she bought in 2008! Yep, you’ve read correctly, paying off your home after 2 years! I was so impressed with it that I asked her to write a guest post for me telling us how she managed to be in a position to pay off her mortgage just after 2 years. She finally decided to pay it off. I think everybody should read about this because we have seemed to be conditioned that a “mortgage is good debt”. Well, tell that to folks who are walking away from their upside down mortgage. If everyone who to follow her example, the economy and the nation would not be in this situation that we find ourselves in.

Credit Cards For Young Adults

By: Mr Credit Card

We all know that credit card issuers segment the market and create products for different folks. For example, there are frequent flier credit cards for the jet setter. There are credit cards for college students, and even those with bad credit. But there aren’t many cards that are specifically targeted towards “young adults”. Well recently, that has changed for a couple of issuers who are looking to target young working adults. I think part of the reason for these two companies to target this segment is because most young folks are not frequent travelers and hence the traditional reward cards do not make sense. Unlike the frequent flier, a typical person is more likely to use their cards at

restaurants

Gym Memberships

Cell phone and internet bills

books, movies, music

Citi Forward® Card Citicards have come up with a credit card that targets young adults – called the Citi Forward&#174 Card. Unlike their regular rewards card, this card pays you extra points when you use the cards on things like restaurants and entertainment. This card will appeal to younger folks who are looking for a reward card but do not travel a lot.

American Express has had long success with their charge cards. And because they have such a stronghold in the corporate card segment, many executives and folks who work for fortune 500 companies end up having Amex charge cards as their personal card as well. But with the proliferation of credit cards with no annual fee (including some of their own cards), American Express is trying to get target charge cards to young adults. And hence, they came up with a charge card called the Zync.

How I Am On The Verge of Paying Off My Home Bought Just 2 Years Ago

By: Mr Credit Card

04/17/2010

Today, I have the wonderful privilege to have Jerysey Mom write this guest post for me. I would say that most folks who think that having a mortgage is “good debt”. Well, this financial crisis has taught us that it is not always the case. The conventional wisdom is that you have to save up 20% for a house downpayment. Why 20%? Cos I guess you avoid PMI. But why not pay your house in cash? Impossible you say? Not really, and Jersey Mom is proof that you do not have to go into too deep of a mortgage just to your home. I would urge you to consider check out her blog and subscribe to her alerts (on her home page)

Hello Mr. Credit Card readers! This is Jersey Mom. Mr. Credit Card has generously invited me to write about how my husband and I were able to put $300k down payment on our $430k house and are nearly mortgage free.

To begin my story, we have to go back to my college years. While strolling through the bookstore one day, I came across a book titled “The Millionaire Next Door” written by Thomas Stanley. It was a catchy title (who wouldn’t want to be a millionaire?) so I bought it. To be honest, what I read in that book surprised me. I had no idea that most millionaires are so frugal that they used cars, wear $10 watches, and aren’t into fashion.

When you think of millionaires, what do you think of? Most people think of Mercedes, BMW, Rolex, LV, Prada, million dollar homes, yachts, planes, etc. If your answers match what I wrote, you’d be partly correct. In fact, I thought so as well because my parents happen to be multimillionaires and have BMW’s, Rolexes, yachts, several houses, and housekeepers. The book Stanley wrote allowed me peer into behaviors of many other millionaires’ lifestyles.

After college, upon realization that I’m not really cut out to be entrepreneurs like my parents, and not likely to make millions of dollars each year, I began following what I learned in Stanley’s book. I made a decent salary but I “down graded” many things including: clothes (Banana Republic to Old Navy), skin care (Estee Lauder to Olay), and other every day items. Thus, began the learning process of leading a more frugal lifestyle and living below my means.

I learned that in order for me to become a millionaire one day, I needed to MAKE and STICK to a BUDGET. A budget is basically a financial plan. Most people what they need and want, then save the rest. I however, have the opposite system. In other words, instead of spend first, save later, I save first, then allocate the rest for specific expense categories.

Here is the general idea regarding how my husband and I allocate our household income (simple version):

Annual Gross Income: $200,000

Tax, SS, Medicare, etc: $71,144

Net Income: $128,856

Saving: $60,000 (30% of gross income; transferred automatically into our retirement accounts, savings accounts, and investment accounts; it’s gone before we can use it)

Expenses: $68,856 (Which means our annual total expenditures cannot exceed $68,856. This includes mortgage, insurance, property tax, food, gas, utilities, supplies, pet supplies, gifts, entertainment/recreation, vacation/staycation, etc.)

Now that you know how we’re able to put $300k down payment on a house, I want to share a few thoughts on ing a house. The house we live in is well maintained, one of the least expensive in town, and quite small by normal standards (1500 square feet). We didn’t our house for other people. It is enough for a family of 4 + a cat + a dog. Don’t a house to impress others or keep up with your friends. Buy a house (or townhouse or condo) you can easily afford else you’d be stressed about paying the mortgage instead of enjoying life, being with your family, and saving for retirement.

Mr Credit Card’s Note: – Just as I was about to publish this post, Jersey Mom appears to have made her decision to pay off her mortgage.

One thing you will realize from reading her blog is that Jersey Mom lives life at her own terms. That is something we all can learn.