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I’ve previously written about creating a real emergency fund with real cash before you use your credit card for emergencies. It so happens that I’ve had to plan for a personal trip towards the end of the year and which will require me to use my credit card (for accommodation, air tickets, etc.). The earlier strategy can be reused — create a real trip fund with real cash before using my credit card during the trip.
I think this strategy can be generalized for any credit card usage.
Create a real “purpose” fund with real cash before using the credit card for that “purpose.”
Peace of mind guaranteed. That’s what is missing in today’s world right? What do you think?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.