CNBC: “These 4 unconventional money tips from Reddit actually work, say personal finance experts”
CNBC, March 6, 2023 — Marguerita Cheng, CFP® Pro is featured in today’s article by Elizabeth Gravier, who writes, “Social media is flooded with money-making tips, wealth-building advice and all sorts of hot takes to help the average user finesse their finances — most of which should be taken with a shaker’s worth of salt. But after combing through a Reddit thread on “unconventional personal finance tips,” CNBC Select ran some ideas by certified financial planners and other experts to hear their take.”
Elizabeth shared four personal finance tips, including this one from Marguerita:
Apply credit card rewards toward your long-term goals: Credit card rewards can do more than help make that next vacation a bit more affordable. Indeed, you can maximize rewards by using them for purchases you already know you’ll make (rather than using them as an excuse for additional spending). If you plan on carrying a balance (which is almost never a good idea), any rewards you earn will be negated by interest fees.
“Treating my kids is an important goal for me,” shares Marguerita. “I cash in rewards for gift cards so my younger kids can purchase something for themselves. Last year, my son and daughter were happy to be able to spend $200 each on Nike gear.”