Ask HTM - Cashback vs Travel Points, Letting a Brokerage Cook, and the Right Way to buy a First Home #952
whatshot 9 snips
Mar 3, 2025
Listeners dive into the debate of cashback versus travel points, exploring which rewards suit different lifestyles. They tackle whether to let investments grow in a brokerage account or pay down a mortgage. Homebuyers receive guidance on key factors like size and location for their first apartment. A discussion about the practicality of credit locks with major bureaus provides valuable financial insights. Plus, there’s a fun hack involving Costco and Instacart, ensuring listeners leave with more than just numbers!
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question_answer ANECDOTE
Out-of-State Car Savings
Joel's friend Scott saved thousands on a car by buying it out-of-state after hearing advice on the podcast.
This strategy involves researching prices nationally and traveling to purchase.
volunteer_activism ADVICE
Cashback Baseline
Get a 2% cashback credit card as a baseline, even if you use travel cards.
Consider cards like Fidelity or Citi Double Cash.
insights INSIGHT
Travel Points vs. Cashback
Travel card points aren't always equal to cashback; their value depends on usage.
Optimizing points through partners yields better value than converting them to cash.
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Let’s dive into the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!
1 - Cash back or travel points credit card… aren’t the rewards basically the same?
2 - Should I continue to let my investments in my taxable brokerage account continue to grow or should I focus on my mortgage?
3 - What factors like size and location should we consider when buying our first apartment?
4 - Does it make sense to pay for a credit lock with the 3 major credit bureaus?
5 - Can you help me understand Joel’s Costco Instacart hack?
Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.
Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Find the best credit card for you with our new credit card tool!
Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.
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