I have the Chase Sapphire and AmEx SPG card. Agree with above re: the Sapphire with the following added benefits: you also get 3x points on travel if you book through their website, and get an extra 25% when you use your points towards travel through their website (so if you have 10,000 points you'd get $100 back but if you book travel through their website you get a credit for $125).
The SPG card isn't that great but DH and his family all have them and so we can theoretically get points from his family members if they wanted to gift them. But SPG is potentially being bought out so we will probably get rid of the cards once it is time for the annual fee.
BTW, both of these cards are free for a year but then have an annual fee.
@dmontgo I have a First National Bank of Omaha (Midwest) card. I have this because it is where I bank. If your bank offers a good rewards card, I would get one there. My payment every month is literally a click of a button to pay which is lazy of me, but is just so much less hassle. Also, if I have any issues I'm dealing with the same people I bank with.. 2 birds 1 stone kinda thing.
That being said, I personally prefer a Visa. They typically have a set rewards program unlike Discover etc who will go through promotional periods where certain expenses (ie. gas, groceries) have higher points offered. I think it's too hard to track. Just make sure you're not paying an annual fee and are earning at least 1%.
ETA- Once you pick one, it's a great idea to stick with it. Your credit score sways significantly in regards to the length of relationship you've had with credit. If you've had the same card for 10 years vs 6 months, you're credit will go up and getting any other loans down the road will be more simple.
@dmontgo We have 3. Amex Blue something or other. Chase freedom. Chase sapphire.
Amex is 6% back on groceries and 3% (I think) on gas. 1% on everything else. It was by far the best grocery card we found. And groceries is one of our highest spending categories closely followed by gas.
Chase freedom. 5% in different categories every quarter. Things like gas, groceries, Costco, Amazon, etc. 1% everything else. Sometimes hard to remember what categories are 5% at any given time. This is card I default to if it's not something in another card's special categories
Chase saphire. Mostly got this for when we took a big international trip. Good sign up rewards, no foreign transaction fees, and bonus points on travel. Now we only use it for the 2% back at restaurants. First year was no annual fee, but we'll probably cancel when that year is up unless we can see we make more than the fee in rewards. We don't book travel through the chase site so I transfer these point to our freedoms card and just get cash from there.
@dmontgo Also, if you use Mint (which I totally recommend) it'll give you some pretty good card recommendations based on what categories you spend the most in.
@dmontgo Sorry I'm late on this but...am I wrong in thinking your husband is in the military? If that's the case, AmEx doesn't advertise it, but all the fees are totally waived. We have the Platinum card because we got something like 40,000 points after spending a certain attainable amount in the first several months. (Can't remember. $4,000? $5,000?) As soon as my H is back in country, we're also going to get the AmEx blue card with the aforementioned grocery store rewards. Apparently people will buy gift cards at grocery stores to hack that extra.
And if you (or anyone else!) do end up going with AmEx send me a PM and I'll give you my info. Because I am a sucker and need those referral points!!
Me: 31 | DH: 31
Together since 2003 | Married 2010 TTC #1 January 2016 BFP April 18 2016 | EDD December 29, 2016 Welcome baby A! January 9, 2017
TTC#2 March 2018 BFP March 30, 2018 | EDD December 12, 2018
So since we're speaking about budgets, we accidentally paid a bill we didn't have to pay this week and essentially destroyed our grocery budget (my deductible payment for my OB is just due before we go back in September and DH mailed it the same day the car payment auto-paid itself this week. Whoops).
I did so well at the grocery store(s) today making our money stretch that it kind of made me mad at myself. I could save us a ton of money if I could take my random grocery budgeting talent and do that whether we need to or not. Guess this was a sign I need to try harder all the time. Typically, I just make a list and toss it all in the buggy without thinking about it carefully and using a calculator. Toots my own horn that I brought us in under the modified budget with plenty of food to eat, but it does annoy and convict me that I could probably do that all of the time if I applied myself better.
I like this thread, it's interesting to see everyone's method. I just wanted to throw out a tip I learned from dealing with ongoing credit analysis while building our first home.
Like some of you, our family pays for everything on our credit card and we pay it off every month to a zero balance. We live in Alaska so we travel out of state at least twice a year. We almost always use miles to pay for flights so we save hundreds if not thousands of dollars per year with our credit card miles.
However when building our house I quickly learned that your credit score gets hit every time your credit card company sends their monthly reports to the credit Bureau and you have spent over 30% of your limit, even if you're paying it off monthly.
To avoid this, and improve your credit score, all you have to do is call your credit card company and ask when they send their reports. Then simply change your payment day to a few days before the information is issued to the CB.
It it was easy but no one ever told me about it so I thought I'd share:)
However when building our house I quickly learned that your credit score gets hit every time your credit card company sends their monthly reports to the credit Bureau and you have spent over 30% of your limit, even if you're paying it off monthly.
for realz?! Credit is just the wonkiest thing!!! Thanks for the heads up
H and I have been talking about finances recently, probably because of this thread. I was wondering how you're all thinking about how a baby fits into all of this. Are you thinking about baby stuff as an added monthly cost? Or an amount that you want to spend for the year? I'm having trouble thinking through all the major purchases that have to be made in the next couple months vs. the smaller month by month needs once the baby is born.
Sorry, that seems confusing. Hope someone can make sense of that question!
@Srey Saw I have $200/mo budgeted for the babies. That's both prior to their birth - most stuff is already purchased from that money we started saving in early pregnancy, and will stay the same after birth for diapers, clothes, etc. I'm having twins though, so take that into consideration.
We started saving before we were pregnant, but we're using that money for the hospital bill, photographer, and doula.
Every paycheck we've set aside an amount to spend on things we need. In the beginning it was $100 a paycheck (FTM so we had nothing baby related), but now that we're closer with more stuff, it's $50 a paycheck, and some of it goes towards postpartum supplies. We're only having one baby right now, so I feel comfortable with where we are. We have one more baby shower I'm October, so after that we shouldn't need anything else for baby until he's older. Edited to mention we've been getting wipes and diapers--we will probably keep the budget at $100/mo for him for a while even after he's born.
H and I have been talking about finances recently, probably because of this thread. I was wondering how you're all thinking about how a baby fits into all of this. Are you thinking about baby stuff as an added monthly cost? Or an amount that you want to spend for the year? I'm having trouble thinking through all the major purchases that have to be made in the next couple months vs. the smaller month by month needs once the baby is born.
Sorry, that seems confusing. Hope someone can make sense of that question!
I have L, so I have some recent experience. Up until he needed formula/purees I only had diapers and wipes budgeted. It was about $40 a month, but daycare provided diapers when he was there. After we switched to FF he needed about 9 12.4 oz cans of Similac which was about $120 a month. Purees we got a Walmart and it was 2 4oz containers for $.80. So he went up to about $160 a month for 3-4 months. Now he eats what we eat, has 1 4 oz bottle a day at bedtime, and diapers&wipes. so he is back to about $50-60 a month.
That doesn't count all the cloth diapers we have that we use for really long car rides (L pees too much to make the ok full time with what we have). I also bought all but like 5 onesies at yard sales - excluding gifts that we received.
Also when L goes back to DC they will provide all his adult food in the fee. We live in a fairly rural area, and pay $20 a day for his DC. So he has averaged put to ~$500 a month for everything at 1 year old.
Formerly known as Kate08young August '18 Siggy April Showers:
Me: 28 H: 24 Married: 7/22/14 Baby L: 8/4/2015 August 2015 Moms Baby E: 11/18/2016 December 2016 Moms TTC #3 08/2017 BFP 11/27/2017. Twin B lost 11/22/2017, Twin A doing well.
We saved a lot before getting pregnant for the big things (furniture mainly) and to start the kids 529 account. Our goal was the same amount as my first kiddo. Once baby is born, it just gets factored into the monthly budget. We budget for:
Diapers/wipes (50/month once stockpile runs out) Formula (100-120/month for a year) Daycare (ours is 600ish/month) Baby supplies/clothes (40/month) this I had with dd1 but noticed I didn't use it much until we had to switch her bath stuff and lotion due to skin issues. It was initially about 10/month and includes diaper cream. Doctor and meds (copay for 1 visit plus 1 prescription) some months this was used, some months we had 3 visits, and other times we had none but over the first year, it averaged out to about 1 visit/med a month but she was on a long term medicine too. 529 savings. Xmas/b-day gifts (save a little each month for it)
That's what I did and it was pretty accurate across the first year. We will see how dd2 compares. Things will be a bit tighter with 2 in daycare so we may need to adjust some things.
I also stockpile diapers when they are on sale. This could be risky if your kid is allergic to a type or they leak. Dd1 could wear anything. We did swaddlers, target brand, huggies (hated snugglers but liked movers when she was bigger). All worked fine so we were lucky with the stockpile and it saved a lot because I got a bunch of target ones for 50% off when they changed their packaging.
Thanks for all the input! That makes a lot of sense. We've been saving but my H doesn't really do hard and fast budgets. They make sense for me so I think I might have to ask for a compromise with this baby so that I can buy things that we need guilt-free. If we budget for it, I can spend it.
You guys are so much more prepared than I am lol. We don't have any money saved, but we do have 80% of what we need for the babies already. I guess I budgeted out childcare, and the rest of daily needs will just come out of what we now consider "spending money".
@caseyewhitaker I do this, all the time lol. It's a habit from being super broke and living on food stamps. I've just never stopped. I can't imagine going to the store without my calculator. I make a "dinner list" with usually 10-12 dinners for the 2 weeks I'm shopping for. I know some nights will be leftovers, or eating out. Then from that I make the grocery list of all the usual stuff we have around for breakfasts, lunches, snacks, pantry stock, and things we'll need for the dinners on the list. I've been shopping at the same store for nearly 10 years, so I generall know how much the things I purchase cost. I always have a rough estimate of how much the list will cost when I go. Granted I do usually go over, but that's when I get stuff not on the list, and I know that we can afford to go over a little. My mom tells me she's amazed at my grocery buying skills lol.
Re: UO- 8.25
The SPG card isn't that great but DH and his family all have them and so we can theoretically get points from his family members if they wanted to gift them. But SPG is potentially being bought out so we will probably get rid of the cards once it is time for the annual fee.
BTW, both of these cards are free for a year but then have an annual fee.
@dmontgo I have a First National Bank of Omaha (Midwest) card. I have this because it is where I bank. If your bank offers a good rewards card, I would get one there. My payment every month is literally a click of a button to pay which is lazy of me, but is just so much less hassle. Also, if I have any issues I'm dealing with the same people I bank with.. 2 birds 1 stone kinda thing.
That being said, I personally prefer a Visa. They typically have a set rewards program unlike Discover etc who will go through promotional periods where certain expenses (ie. gas, groceries) have higher points offered. I think it's too hard to track. Just make sure you're not paying an annual fee and are earning at least 1%.
ETA- Once you pick one, it's a great idea to stick with it. Your credit score sways significantly in regards to the length of relationship you've had with credit. If you've had the same card for 10 years vs 6 months, you're credit will go up and getting any other loans down the road will be more simple.
DS: 12/20/16
EDD: 11/29/18
Amex is 6% back on groceries and 3% (I think) on gas. 1% on everything else. It was by far the best grocery card we found. And groceries is one of our highest spending categories closely followed by gas.
Chase freedom. 5% in different categories every quarter. Things like gas, groceries, Costco, Amazon, etc. 1% everything else. Sometimes hard to remember what categories are 5% at any given time. This is card I default to if it's not something in another card's special categories
Chase saphire. Mostly got this for when we took a big international trip. Good sign up rewards, no foreign transaction fees, and bonus points on travel. Now we only use it for the 2% back at restaurants. First year was no annual fee, but we'll probably cancel when that year is up unless we can see we make more than the fee in rewards. We don't book travel through the chase site so I transfer these point to our freedoms card and just get cash from there.
And if you (or anyone else!) do end up going with AmEx send me a PM and I'll give you my info. Because I am a sucker and need those referral points!!
TTC #1 January 2016
BFP April 18 2016 | EDD December 29, 2016
Welcome baby A! January 9, 2017
TTC#2 March 2018
BFP March 30, 2018 | EDD December 12, 2018
I did so well at the grocery store(s) today making our money stretch that it kind of made me mad at myself. I could save us a ton of money if I could take my random grocery budgeting talent and do that whether we need to or not. Guess this was a sign I need to try harder all the time. Typically, I just make a list and toss it all in the buggy without thinking about it carefully and using a calculator. Toots my own horn that I brought us in under the modified budget with plenty of food to eat, but it does annoy and convict me that I could probably do that all of the time if I applied myself better.
Like some of you, our family pays for everything on our credit card and we pay it off every month to a zero balance. We live in Alaska so we travel out of state at least twice a year. We almost always use miles to pay for flights so we save hundreds if not thousands of dollars per year with our credit card miles.
However when building our house I quickly learned that your credit score gets hit every time your credit card company sends their monthly reports to the credit Bureau and you have spent over 30% of your limit, even if you're paying it off monthly.
To avoid this, and improve your credit score, all you have to do is call your credit card company and ask when they send their reports. Then simply change your payment day to a few days before the information is issued to the CB.
It it was easy but no one ever told me about it so I thought I'd share:)
Sorry, that seems confusing. Hope someone can make sense of that question!
We started saving before we were pregnant, but we're using that money for the hospital bill, photographer, and doula.
Every paycheck we've set aside an amount to spend on things we need. In the beginning it was $100 a paycheck (FTM so we had nothing baby related), but now that we're closer with more stuff, it's $50 a paycheck, and some of it goes towards postpartum supplies. We're only having one baby right now, so I feel comfortable with where we are. We have one more baby shower I'm October, so after that we shouldn't need anything else for baby until he's older.
Edited to mention we've been getting wipes and diapers--we will probably keep the budget at $100/mo for him for a while even after he's born.
I hope this helps!
That doesn't count all the cloth diapers we have that we use for really long car rides (L pees too much to make the ok full time with what we have). I also bought all but like 5 onesies at yard sales - excluding gifts that we received.
Also when L goes back to DC they will provide all his adult food in the fee. We live in a fairly rural area, and pay $20 a day for his DC. So he has averaged put to ~$500 a month for everything at 1 year old.
Formerly known as Kate08young
August '18 Siggy April Showers:
Married: 7/22/14
Baby L: 8/4/2015 August 2015 Moms
Baby E: 11/18/2016 December 2016 Moms
TTC #3 08/2017 BFP 11/27/2017.
Twin B lost 11/22/2017, Twin A doing well.
Diapers/wipes (50/month once stockpile runs out)
Formula (100-120/month for a year)
Daycare (ours is 600ish/month)
Baby supplies/clothes (40/month) this I had with dd1 but noticed I didn't use it much until we had to switch her bath stuff and lotion due to skin issues. It was initially about 10/month and includes diaper cream.
Doctor and meds (copay for 1 visit plus 1 prescription) some months this was used, some months we had 3 visits, and other times we had none but over the first year, it averaged out to about 1 visit/med a month but she was on a long term medicine too.
529 savings.
Xmas/b-day gifts (save a little each month for it)
That's what I did and it was pretty accurate across the first year. We will see how dd2 compares. Things will be a bit tighter with 2 in daycare so we may need to adjust some things.
I also stockpile diapers when they are on sale. This could be risky if your kid is allergic to a type or they leak. Dd1 could wear anything. We did swaddlers, target brand, huggies (hated snugglers but liked movers when she was bigger). All worked fine so we were lucky with the stockpile and it saved a lot because I got a bunch of target ones for 50% off when they changed their packaging.
@caseyewhitaker I do this, all the time lol. It's a habit from being super broke and living on food stamps. I've just never stopped. I can't imagine going to the store without my calculator. I make a "dinner list" with usually 10-12 dinners for the 2 weeks I'm shopping for. I know some nights will be leftovers, or eating out. Then from that I make the grocery list of all the usual stuff we have around for breakfasts, lunches, snacks, pantry stock, and things we'll need for the dinners on the list. I've been shopping at the same store for nearly 10 years, so I generall know how much the things I purchase cost. I always have a rough estimate of how much the list will cost when I go. Granted I do usually go over, but that's when I get stuff not on the list, and I know that we can afford to go over a little. My mom tells me she's amazed at my grocery buying skills lol.