Now usually I will tell you not to use credit cards, but instead pay cash or don't get it.
But I want to share a little tip on how you can utilize your credit card so that you can make more interest on your money.
If you are going to buy a large ticket item, still save up until you can pay for it in full.
Instead of going to pay cash for it, put it on your credit card.
But here's the trick: charge it the day after your billing cycle ends.
Why? Because this will give you at least 30 (and in some cases) up to 60 days before you have to pay for it.
During this time, your cash can be earning YOU more interest in a savings account, money market, or CD.
And though it might not be millions, it's better than nothing.
Take my case for example: the one credit card I use has a billing cycle which ends on the 17th of the month.
Say I purchase an item on June 15th.
I'll receive my bill probably by the 24th with a due date of July 10th.
Not bad.
But let's say I wait until the 18th to purchase said item.
Because it's after the cycle date, I won't have to pay for the item until August 10th.
Thus 53 more days that I get to keep my money working for me (12 remaining days in June + all 31 days in July + 1st 10 days of August).
Use this strategy to your advantage and keep your money working for you!