In this episode of the Mind + Money podcast, hosts Val and Sherry discuss the intricacies of cash back and reward programs and high-interest savings accounts.

They share personal experiences and insights on effectively utilizing these financial tools while avoiding common pitfalls.

The conversation emphasizes the importance of understanding the terms of reward programs and the actual interest rates of savings accounts, encouraging listeners to be mindful of their spending habits and financial decisions.

Key Takeaways:

• The effectiveness of cash back programs depends on how well you utilize them.
• Many cash-back credit cards have restrictions on when you receive rewards.
• High-interest savings accounts often have promotional rates that expire quickly.
• It's crucial to check the actual interest rate of savings accounts regularly.
• Using credit cards responsibly can lead to significant cash back rewards.
• Understanding the terms of reward programs is essential to avoid debt.
• It's important to pay off credit card balances in full to benefit from cash back.

• Using apps like Rakuten can maximize cash back opportunities.
• Focus on building a solid financial foundation before diving into rewards programs.

Connect with us: 

Book a free call with Val (financial planner): https://calendly.com/valerie-stratford

Book a free call with Sherry (financial coach): https://app.acuityscheduling.com/schedule.php?owner=17480698&appointmentType=25737393

Val’s Instagram: http://www.instagram.com/you.me.and.money

Sherry’s Instagram: http://www.instagram.com/moneymindsetfc

Podcast Instagram: http://www.instagram.com/mind.money.adhd.podcast

Sherry’s TikTok: https://www.tiktok.com/@moneymindsetcoaching