This guest post is from Jennifer Scott, the Digital Communications Manager for PerkStreet Financial. She used her debit rewards card to buy personal training sessions recently and can’t stop patting herself on the back for making such a smart decision.
You work hard for your money. Sometimes you work too hard for too little money. You select your purchases carefully (well, most of them) and you really like the idea of earning a reward every time you buy something. And why not? You have the thing you bought and you get something else. Everyone loves a little something else.
What everyone does not love are fees. And debt. And the slippery slope of spending beyond your means that can sometimes happen with credit.
Enter: the debit rewards card.
You know that spending with debit is a good way to keep your finances in check and spend only what you have. There’s a lot to be said for the amazing feeling you can get from seeing a checking account in the black, and knowing your bills are all caught up, but there’s even more to be said for experiencing that feeling while enjoying a cup of coffee you got for free because you were spending with debit.
Unlike checking accounts that earn interest, you have more control over how you’re rewarded. Unlike credit cards with rewards, you won’t put yourself in a bad financial spot just to earn cool stuff. Debit rewards are a whole new medium for responsible spending.
When I got engaged, I knew I wanted to pay for the entire thing using my debit rewards card. Because I’m using only money I actually have, not money I owe, I’ve had to make careful decisions about my event. That alone was helpful; there’s so much information and inspiration out there that planning can get very overwhelming. Dress options alone are absolutely staggering. Sticking to what I could afford ruled out a lot of the white noise (no pun intended).
Using debit instead of credit means the first thing I do with my new husband can be making dinner instead of paying bills. Using a debit rewards card rather than just a regular debit card means that not only will my wedding be paid in full by the time we hit the honeymoon, it also means I’ll get to enjoy my cash back perks while we’re there. I think I’ll use them to buy a bottle of champagne and toast our smart spending.