A few months ago, I wrote about how, after a year of earning cash back at The Rewards, I decided to stop taking the cash back and start taking a regular reward card instead.
It worked out great for me for a few months, but I got bored.
Plus, I was getting a few other benefits in return.
But I’ve heard from a few readers who still haven’t made the switch.
So I decided it was time to make the switch for the benefit of all of us.
Here’s why you should too.
Why you should quit taking cash back now When I started taking cashback last year, I figured it would be a nice way to earn some extra cash back.
After all, I’d been earning at least $200 a month at TheRewards, and I could afford a few more.
That’s what I would have gotten from taking cash and giving it away, right?
Now, the cashback I’m earning has gone up more than $800 in just the last two months.
So the money I was earning is now going to my bank account rather than being sent to my credit card.
And that’s a big problem.
It means I’m now paying back a ton of cash back to myself.
That cashback money I earned last year is now gone forever.
Now I have to pay it back to TheRewords credit card every month instead of earning it in the first place.
It’s not a great deal.
So what do you do?
I’m sure there are many people out there who take cash back for good reasons.
I just want to make a few recommendations to make it worth your while.
The first one is this: If you’re willing to take the time to put in the effort, make the effort.
If you can’t, you’re probably not going to make much money out of it.
So take the money and give it away.
It won’t be a big deal, and it won’t hurt you in any way.
But if you’re going to do this, then it’s worth doing it right.
The rewards I earn now are only half of what I earned a few years ago.
And they’re not just because I’m doing something right now.
If I stopped taking the money in the bank and gave it away instead, I would still earn $1,400 a month.
I’m just not getting a lot out of my extra cash, and that’s what makes it worth it.
Take the money now and give yourself a real return on your investment, so you can reap the rewards you’ve earned.
So, before you quit taking the rewards, read on to see if this is the way to go.
How to quit taking a cash back reward Now that I’ve taken my money out, I’ve noticed a few things: It’s been getting harder and harder to earn more cash back every month.
Even with the same rewards I’m getting now, I’m seeing more and more rewards I can’t justify taking.
And now, my money is going to go into my bank accounts instead of my credit cards.
This means that the reward money I get now will never be spent.
And it means I have less money for other expenses.
Here are some other things to consider: I’m not getting the same reward that I used to.
The Cash Back Bonus is now much more than it used to be.
That means that if I’m making a $1k per month, the Cash back Bonus is going up to $1.7k per year.
But it’s only half that of my previous $1K.
Now that my cashback bonus is so much higher, I might be able to earn a few hundred more cashbacks each month, but they’re just not going anywhere.
And I’m only getting a fraction of the rewards I was before.
That might make me want to reconsider the rewards that I earned.
I was a little more willing to spend on things that I’m going to want, and now that I can no longer afford to spend those things, I may not want to spend that cashback either.
If your rewards aren’t enough to justify the reward you’re getting, then consider how much you can spend on your expenses instead.
I’ve seen people put $30,000 into a home remodeling project because they wanted to save money.
If they’re able to spend a little on that project, then that’s great, but it’s not enough.
Instead, they could spend that money on a vacation or a new car.
Or maybe they could save it for a down payment on a house.
So instead of getting $30k from TheRewounds rewards, they’d get $2k instead.
That can make a big difference in your finances, and you’ll still be able have some extra money to spend when you get home.
And you’ll save on mortgage payments, rent, insurance, and car payments. So now