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Home > Cashback rewards... what do you designate it for?

Cashback rewards... what do you designate it for?

July 29th, 2011 at 04:15 pm

I am almost up to $300 in rewards on my Discover (and I already cashed in like $200 in gift cards this year) and close to $300 on my visa. I wonder what this "special" money that don't come from regular income should be earmarked for.

What do you guys do with your rewards money?

Posted in Uncategorized | 6 Comments »

6 Responses to “Cashback rewards... what do you designate it for?”

  1. MonkeyMama Says:
    July 29th, 2011 at 04:18 pm 1311956309
    1311956309

    Me personally? Savings/investing/mortgage

  2. crazyliblady Says:
    July 29th, 2011 at 04:54 pm 1311958442
    1311958442

    I have not gotten any cash back from my credit card in awhile, but I use survey money to make snowflake payments to the credit card. In the future, I hope to use it to build up savings, investments, and pay extra on the mortgage. Since you don't have a specific idea of what to do with it right now, ask yourself what is your worst problem right now. For example, do you have a good size emergency fund set up? Do you have a lot of credit card debt or a mortgage? Or maybe you have an IRA that you would like to contribute a little extra to without pinching your budget. Good luck and keep us posted on what you do with it. I like to hear about other peoples' wins.

  3. ceejay74 Says:
    July 29th, 2011 at 04:59 pm 1311958762
    1311958762

    It depends on whether we have any out-of-the-ordinary needs or wants, but usually I try to put more than half of all extra money toward debt repayment, then some toward the kid's savings, and some for treats for us (clothes shopping or eating out, for example).

  4. Ima saver Says:
    July 29th, 2011 at 06:01 pm 1311962462
    1311962462

    I put all of my extra money from the chase rewards plan, into my $20 savings challenge.

  5. retire@50 Says:
    July 29th, 2011 at 06:35 pm 1311964558
    1311964558

    It all goes for fun stuff - usually books. I have no debt and am living off my savings so don't need to save for anything specific anymore.

  6. LuckyRobin Says:
    July 29th, 2011 at 10:41 pm 1311979304
    1311979304

    If I get it as cash it goes to either debt repayment or my emergency fund. My Costco cash back coupon can only be spent at Costco so I use it for groceries and toiletries.

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