This is the first in a series of posts on how you can use your credit card to make money.
Remember, saving money is also making money, and this first piece of advice on using your credit card will save you some money.
Here is something I do that maybe EVERYBODY does, but I find it EXTREMELY helpful to save some money. To do this, all you need is a Credit Card like the “Discovery Credit Card“, a bank account with a fixed monthly fee (i.e. a certain number of free transactions a month) and free Internet Banking.
If you get a few free transactions with your bank account, at the beginning of EVERY month, log into your bank account with Internet Banking, transfer whatever amount you think you can afford to spend (and what you THINK you will spend in cash) onto your credit card. In South Africa, the “Discovery Card” does not charge you per transaction (except for Petrol charges). This means that, instead of drawing money at the ATM every time you need money, you can use the available credit on your credit card as cash by paying with the credit card instead.
Not only will this save you money and TIME by you not having to use the ATM, you will also be able to monitor where you are spending your “cash”.