Taking Advantage of Reward Programs

Take Advantage of Reward Programs! The 2 we use on a regular basis are Shoppers Optimum Points and Airmiles. Airmiles being our favorite. We have our HBC points automatically set up to convert to Airmiles and we have an Airmiles American Express and an Airmiles Master Card. We are able to accumulate many airmiles each month. We try to put as much as we can on these 2 credit cards, including such things things as pre-authorized payments of our cell phone, satellite, internet, etc and we put our groceries and anything else possible on them as well. We pay off our credit card balances each month, so we never incur any late fees and interest charges.

By accumulating and redeeming our Airmiles we have been able to fund approximately 70% of our backyard retaining wall renovation (by redeeming the airmiles for Rona gift certicates) and gas for both our vehicles is paid for, in large part, by redeeming the airmiles for Shell fuel gift certficates. The money we save for not having to pay for gas, goes into Savings accounts, or goes towards making an extra payment towards the principal on our mortgage.

Living on a budget

In these economic times, a budget is more necessary now than ever. As a couple, we make a reasonable combined household income, but we strictly adhere to a monthly budget. This means itemizing everything we spend (down to the penny) on a spread sheet. Even though it is a bit of work, you would be surprised at how beneficial it can be. We have set goals, that we diligently budget for each month. This usually means we are the couple that stays home every weekend and that hasn't gone to an actual movie - in who knows how long - but we are happy and when we can experience our goals (which we will elaborate on, at a later date) we realize it was worth the scrimping, saving and discipline.