The Mind section of The Handbook for Catholic Moms has a chapter on financial stewardship, since many moms are the “family bankers” of their families. I especially like Catholic financial guru Phil Lenehan’s sidebar advice for moms to be good financial stewards for their families.
I thought it would be neat to explore here some good financial advice you practice or received as advice that you like, even if you aren’t able to put it into practice. What’s a good way to save or spend money wisely?
Your advice can be serious or light.
The one I’d like to share is quite light and fun. We have a Discover Card in our family, and part of the rewards of this is a “Cashback Bonus.” You can the “Cashback” for cash, a reduction in your credit card bill, or in the form of gift cards with a higher value, say a $45 card for $40 of your “Cashback” money. Since we don’t carry a balance on our credit cards, we don’t use the bonus for the credit card bills themselves. So as a treat, I use our Cashback Bonus to get gift cards for my favorite coffee shop so when I buy coffee “out” when I’m on the run all day or when we are traveling, and it is “free.” I know that it actually isn’t free, but there’s something nice about having a gift card for something that is a treat.
What’s some good and/or fun financial advice from your family?