Step one: Make sure your credit cards earn you points & pay them off as best you can
Step two: Create a list of all your monthly expenses and figure out what can be paid by credit card or PayPal (using a credit card)
Step three: Use your credit card to pay for EVERYTHING
Step Four: Make sure to pay off the purchases ASAP to avoid being charged any interest. I suggest making the payment for the transaction(s) immediately
*Note: You will not be charged interest if you pay off your transaction within a certain period of time. Most banks allow 21 days to pay off the transaction before interest is charged
Here are list of items that can be paid by credit card:
• Rent: Once and a while, landlords have the capacity to accept rent by credit card payment for automated payments.
• Gas: Business and personal
• Car insurance: Monthly payments are not permitted on credit card, only the annual payment is payable by credit card
· Cell phone
· Hydro (electricity and gas)
• Company expenses (if self employed):
· Staff (if they accept Paypal)
· Office rent (depends pn landlord set up)
· Marketing costs (this can be HUGE points)
· Royalty payments (franchises)
• Strata costs (if you own)
• Property taxes
• Food and alcohol
• Gym and recreational activities
• The list goes on…
Most of these bills will now be automated so you don’t have to worry about paying them. Just make sure to always review your bills for accuracy. Take these actions and call your credit card company before your next trip, will be shocked at how many points you will have.
Mortgage broker Jessi Johnson specializes in educating his clients in phases; starting with buying your first home, debt consolidation & refinancing, how to pay the mortgage down faster, then applying various investment strategies to grow wealth from real estate. After beginning his entrepreneurial career at the age of six…
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