January Budget Report and Credit Card Tips

Hello everyone, Deena here, and I’m happy to report that we had a good January with our average daily spend of $114—not quite as low as I would have liked, but there it is nonetheless.  We had our most expensive day of the trip in early January, our day in Petra, and it skewed our numbers a bit for the month.  Most of our month was spent in Thailand, which is considerably less expensive than countries we've visited previously.  We loved the food and culture of Thailand and can’t wait to get back soon.  We spent three weeks in the central and northern part of the country, and we'll return in April to see the southern part of Thailand, particularly the beaches.

Currently we are in Vietnam as part of a three-month stay in Southeast Asia.  Our hope is that the lower cost of living in these countries will help us gain some ground in the budget in preparation for the more expensive countries of Australia and New Zealand coming toward the end of the trip.  Lest you think we have it all figured out down to the last dollar, I have to confess that I accidentally spent twelve bucks on a quart of Haagen Dazs tonight.  I’ve been fuming about it all evening, so not a good night to write about the budget, but the ice cream was pretty good.

I have shared earlier that we have been able to fly free for most of our trip due to credit card signup bonuses achieved by meeting what’s called a minimum spend.  This term refers to an amount of money, typically three-to-five thousand dollars, that must be spent on the card over a three month period.   Some of you may look at the offers and think that the minimum spend is tough to reach without going out and running up a large balance on a card on unnecessary items just to get the points bonus.  This is not the case as there are many daily and monthly expenses that can be paid for with a credit card.  Mortgages, utilities, taxes, tuition, even a tithe to the church can all be put on a card.  We were able to pay our mortgage through ChargeSmart, which charges a small fee for the service.  I would not recommend doing it every month as it would get too expensive, but if  you are trying to meet a minimum spend that nets you several thousands in sign-up bonuses, it can be a good deal.  Some cards offer double and more points for gasoline, office supplies, and cell phone bills.  There are many ways to reach minimum spends without going out and buying more than you can afford.  It is also imperative that you pay off the card every month to avoid interest charges that would be counterproductive to earning a free flight.  Annual fees can be avoided by cancelling the card before the year is up as long as you have redeemed the miles.

Tune in next month to see how we did in Vietnam.