Families - What's your total annual credit card spend?

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DaftInvestor
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Re: Families - What's your total annual credit card spend?

Post by DaftInvestor » Tue Jul 17, 2018 4:20 pm

HenrysCreek wrote:
Tue Jul 17, 2018 7:47 am
Crazyhats5 wrote:
Tue Jul 17, 2018 12:02 am
So I gather you guys are doing this for the rewards? Do you pay the balance in full each month?
Yes.
I use credit cards for everything and not just for the rewards. There is also the protection, extended warranties, and most importantly - the convenience. Paying one bill monthly is far easier than paying dozens (and/or having to pull cash out of some machine somewhere or manage an old fashioned check register).
Of course the balance is always paid off in full.

LiterallyIronic
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Re: Families - What's your total annual credit card spend?

Post by LiterallyIronic » Tue Jul 17, 2018 5:21 pm

Family of three. I'd say around $300/month goes on credit cards. Groceries, household products, and gasoline purchased by my wife. She pretty much uses her credit card for every expense. I always use debit (almost everything), money orders (utility bills), or cash (when card isn't accepted). I will use a credit card if an individual item is more than about $200 or so. Otherwise it's too much hassle for the 1% cash back. Having to remember that I swiped a credit card for a gallon of milk and then go online a few days later when it posts to transfer the money in order to get two cents? Or set up auto-billing? No thanks. Keep in mind, though, that I'm crazy.

mptfan
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Re: Families - What's your total annual credit card spend?

Post by mptfan » Tue Jul 17, 2018 5:35 pm

Grt2bOutdoors wrote:
Mon Jul 16, 2018 8:24 pm
livesoft wrote:
Mon Jul 16, 2018 6:48 pm
We pay almost everything with a credit card: phone bills, other utilities, insurance, college tuition, plus all the usual stuff. We try to never ever use cash for anything. So about $17 a year.
Seventeen dollars!?? Sign me up! I can retire in 5 years at that rate of spending.
LOL.

blastoff
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Re: Families - What's your total annual credit card spend?

Post by blastoff » Tue Jul 17, 2018 6:17 pm

Just me. 8-10k. Most all expenses less housing.

Momus
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Re: Families - What's your total annual credit card spend?

Post by Momus » Tue Jul 17, 2018 6:19 pm

About 6k/yr. I guess I am the poorest in the forum.

Grt2bOutdoors
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Re: Families - What's your total annual credit card spend?

Post by Grt2bOutdoors » Tue Jul 17, 2018 6:46 pm

SQRT wrote:
Tue Jul 17, 2018 3:57 pm
Meg77 wrote:
Tue Jul 17, 2018 11:20 am
Grt2bOutdoors wrote:
Mon Jul 16, 2018 8:23 pm
Meg77 wrote:
Mon Jul 16, 2018 4:15 pm
About $110k (no kids though). Like you, pretty much all expenses go on credit cards except our mortgage and property taxes. I think it's pretty common for annual credit card spend to be fairly synonymous with annual spending - and therefore bound to be high in many cases.
You spend $110k a year?!! Wow!
We spend $164K per year in total if you count the mortgage, prop taxes, car note and a few other items that can't go on cc's. But we save $215K a year so I don't feel too bad about it. :wink:
Really surprised you would disclose these numbers here. I wouldnt feel comfortable doing so.
She’s a banker, those numbers are nothing. It’s when your talking about 9 digits that things get interesting. :wink:
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Grt2bOutdoors
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Re: Families - What's your total annual credit card spend?

Post by Grt2bOutdoors » Tue Jul 17, 2018 6:49 pm

Momus wrote:
Tue Jul 17, 2018 6:19 pm
About 6k/yr. I guess I am the poorest in the forum.
Nope, you might just be a “cash on the barrel head” person. I know someone who only uses cash, doesn’t want to be bothered with using a card, collecting points, rewards. Nope, no nonsense pay it off at point of purchase using cash, direct debit or a paper check.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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GoldStar
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Re: Families - What's your total annual credit card spend?

Post by GoldStar » Tue Jul 17, 2018 9:04 pm

LiterallyIronic wrote:
Tue Jul 17, 2018 5:21 pm
Family of three. I'd say around $300/month goes on credit cards. Groceries, household products, and gasoline purchased by my wife. She pretty much uses her credit card for every expense. I always use debit (almost everything), money orders (utility bills), or cash (when card isn't accepted). I will use a credit card if an individual item is more than about $200 or so. Otherwise it's too much hassle for the 1% cash back. Having to remember that I swiped a credit card for a gallon of milk and then go online a few days later when it posts to transfer the money in order to get two cents? Or set up auto-billing? No thanks. Keep in mind, though, that I'm crazy.
$300/month on groceries for a family of 3 seems incredible to me. Great job.
Regarding the "hassle" of using your credit card for smaller purchases - once you start doing it you will realize how much of a hassle dealing with cash and change is. Also - I don't follow your logic - if you are already paying monthly for the $300 in groceries on your bill what addition hassle is the of having the $2 milk purchase on it as well. You still have to make a payment.
Also - these days you can get a 2% cashback card (versus the old 1% cards).

Erwin007
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Re: Families - What's your total annual credit card spend?

Post by Erwin007 » Tue Jul 17, 2018 10:46 pm

Mjar wrote:
Tue Jul 17, 2018 2:01 pm
Erwin007 wrote:
Mon Jul 16, 2018 11:25 pm
$73k last year. Everything possible goes on the card due to generous credit card rewards. Family of 5. Kids aged 11, 9, and 7.
what is generous and which card?
Costco Visa card. And we are executive members. 4% back on gas, 3% on travel and restaurants, 2% on everything at Costco (> 90% of our grocery shopping is done at Costco), and 1% back on everything else. I know there are cards with better rotating categories, but it isn’t worth the hassle to me to keep track of all that.

jjface
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Re: Families - What's your total annual credit card spend?

Post by jjface » Wed Jul 18, 2018 2:49 am

delamer wrote:
Tue Jul 17, 2018 3:45 pm
jjface wrote:
Tue Jul 17, 2018 3:08 pm
About 15k-20k. Can't believe some of the figures on here. Not sure how much % goes on there but a lot of it. Not mortgage or taxes but a good proportion of everything else. Family of 3.
Why can’t you believe them?
Lol maybe because what some charge to credit cards each year could almost buy my house.

But yes I do recognize people live in hcol areas and have different priorities.

lazydavid
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Re: Families - What's your total annual credit card spend?

Post by lazydavid » Wed Jul 18, 2018 5:41 am

$126k on the primary Citi card in 2017, and another $41k on my corporate AmEx, so $167k total. A minority chunk of the former and 100% of the latter is reimbursed expenses. Everything that can be charged is, always paid off every month of course.

Family of 3 plus a live-in FIL, MCOL area.
Last edited by lazydavid on Wed Jul 18, 2018 7:56 am, edited 2 times in total.

SQRT
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Re: Families - What's your total annual credit card spend?

Post by SQRT » Wed Jul 18, 2018 6:37 am

Meg77 wrote:
Tue Jul 17, 2018 4:18 pm
SQRT wrote:
Tue Jul 17, 2018 3:57 pm
Meg77 wrote:
Tue Jul 17, 2018 11:20 am
Grt2bOutdoors wrote:
Mon Jul 16, 2018 8:23 pm
Meg77 wrote:
Mon Jul 16, 2018 4:15 pm
About $110k (no kids though). Like you, pretty much all expenses go on credit cards except our mortgage and property taxes. I think it's pretty common for annual credit card spend to be fairly synonymous with annual spending - and therefore bound to be high in many cases.
You spend $110k a year?!! Wow!
We spend $164K per year in total if you count the mortgage, prop taxes, car note and a few other items that can't go on cc's. But we save $215K a year so I don't feel too bad about it. :wink:
Really surprised you would disclose these numbers here. I wouldnt feel comfortable doing so.
Well this forum is anonymous, so I'm not sure why you wouldn't feel comfortable. People share much more detailed income and expense info than this every day when asking for help (which I've done before as well).

But even if people know who I am in real life, I don't really consider these figures taboo. People can guess at what my husband and I make, or check salary websites that will give them a clue. My home value and property tax rate are public record. My friends and family wouldn't be surprised to know we spend 6 figures a year based on the amount we travel, the places we shop, and other commonly observed behaviors. Now people would be surprised to know how much we save I'm sure; I'm not as comfortable disclosing that amount as all the others (which is odd if you think about it), but I'm also a bit proud of it and think it's good context to have and possibly even motivational.
Yes. I understand but these forums may not be as anonymous as you think. The more details you disclose the more likely somebody can figure it out. I was warned once, on another forum that I was disclosing things that would enable someone to figure out who I was. If that wouldn’t be a concern for you coupled with disclosing high net worth/income info, then I demure. It was a concern for me.

Another issue might be that disclosing “big numbers” may tend to make some posters feel a little uncomfortable. I know it shouldn’t but again, in my experience, it sometimes does. Discretion may be “the better part of valour”? But I applaud you for being candid. Perhaps this forum is different.

In any event, disclosing absolute dollars didn’t really seem necessary. Surely it’s the relationship between total spend and CC spend that might be interesting? I felt the OP was a little “off” in requesting dollars. But looks like I’m in the “vast minority” on this one. So carry on.

Mjar
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Re: Families - What's your total annual credit card spend?

Post by Mjar » Wed Jul 18, 2018 9:26 am

Erwin007 wrote:
Tue Jul 17, 2018 10:46 pm
Mjar wrote:
Tue Jul 17, 2018 2:01 pm
Erwin007 wrote:
Mon Jul 16, 2018 11:25 pm
$73k last year. Everything possible goes on the card due to generous credit card rewards. Family of 5. Kids aged 11, 9, and 7.
what is generous and which card?
Costco Visa card. And we are executive members. 4% back on gas, 3% on travel and restaurants, 2% on everything at Costco (> 90% of our grocery shopping is done at Costco), and 1% back on everything else. I know there are cards with better rotating categories, but it isn’t worth the hassle to me to keep track of all that.
Erwin,
Thanks. I will have to look into that. we are Executive members as well but we use CapitalOne and get a flat 1.5% on everything. I will have to do the math on the Costco Card.

delamer
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Re: Families - What's your total annual credit card spend?

Post by delamer » Wed Jul 18, 2018 12:02 pm

jjface wrote:
Wed Jul 18, 2018 2:49 am
delamer wrote:
Tue Jul 17, 2018 3:45 pm
jjface wrote:
Tue Jul 17, 2018 3:08 pm
About 15k-20k. Can't believe some of the figures on here. Not sure how much % goes on there but a lot of it. Not mortgage or taxes but a good proportion of everything else. Family of 3.
Why can’t you believe them?
Lol maybe because what some charge to credit cards each year could almost buy my house.

But yes I do recognize people live in hcol areas and have different priorities.

And very different incomes, even within the same geographic area. Which is why knowing expenses without income is of limited value.

il0kin
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Re: Families - What's your total annual credit card spend?

Post by il0kin » Wed Jul 18, 2018 12:13 pm

It floats between 35-42k per year, depending on if we are doing any home renovations or major projects or vacations. Family of 3 in a MCOL. Same deal as most, everything that can route through it does. I estimate our full annual spend to be about 62-68k.

I feel like we don't want for much and aren't all that restricted on spending. We don't have a budget other than make sure more comes in than goes out and save save save for retirement. I mean, sure I would love to spend money on luxurious items for my hobbies or some extra services around the house, but I can't even fathom the 100k+ yearly spends. What do you guys spend it on?

NextMil
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Re: Families - What's your total annual credit card spend?

Post by NextMil » Wed Jul 18, 2018 12:29 pm

UpsetRaptor wrote:
Mon Jul 16, 2018 4:12 pm
Just for reference, I'm curious what you married-with-kids bogleheads are spending on your combined total credit card expenses each year? The last couple years DW + I have been in the $40-$45K range. Seems high to me when I look at it, though we do have 3 kids and put everything we can on CCs, including all shopping, food, gas, auto/life/umbrella insurance, some bills, and a couple vacations per year. The only expenses that really don't go on there are mortgage and a couple other bills for which we can't use CC or the "convenience" fee equates to >2%.
If you think its high, why are you comparing to others? The best thing to do would be to go through all the expenses and see if you are being unreasonable on any of them or if any of them are truly frivolous and are not worth the ROI.

Even with people adding in their salaries it still does not give you an apples to apples comparison. Some people could be living on dividends and banking their salaries.

Mjar
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Re: Families - What's your total annual credit card spend?

Post by Mjar » Wed Jul 18, 2018 1:59 pm

Mjar wrote:
Wed Jul 18, 2018 9:26 am
Erwin007 wrote:
Tue Jul 17, 2018 10:46 pm
Mjar wrote:
Tue Jul 17, 2018 2:01 pm
Erwin007 wrote:
Mon Jul 16, 2018 11:25 pm
$73k last year. Everything possible goes on the card due to generous credit card rewards. Family of 5. Kids aged 11, 9, and 7.
what is generous and which card?
Costco Visa card. And we are executive members. 4% back on gas, 3% on travel and restaurants, 2% on everything at Costco (> 90% of our grocery shopping is done at Costco), and 1% back on everything else. I know there are cards with better rotating categories, but it isn’t worth the hassle to me to keep track of all that.
Erwin,
Thanks. I will have to look into that. we are Executive members as well but we use CapitalOne and get a flat 1.5% on everything. I will have to do the math on the Costco Card.
Erwin,
I did the math, I pulled all of mine and my wife's transactions for 18 months and classified them into the 4 buckets that Costco Card offers that you listed, If I replace my CapitalOne card that offers a flat 1.5% on everything with the Costco card on the same transaction I would net out 1.33%. Our Mix of transactions are surely different and your transactions probably make sense for you, but for mine it didn't (I know this thread wasn't about switching or finding the best card). Thanks for letting me know it forced me to do the math :D :sharebeer I could shift this closer to the 1.5% if I did all my grocery shopping at Costco it probably isn't worth the hassle of making changes of all the automatic payments that hit my credit card along with having other CapitalONe accounts that tie together very nicely. Costco card is still better than the airline cards IMHO, this will definitely be a card to consider if I ever look to make a switch.

SQRT
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Re: Families - What's your total annual credit card spend?

Post by SQRT » Wed Jul 18, 2018 2:42 pm

delamer wrote:
Wed Jul 18, 2018 12:02 pm
jjface wrote:
Wed Jul 18, 2018 2:49 am
delamer wrote:
Tue Jul 17, 2018 3:45 pm
jjface wrote:
Tue Jul 17, 2018 3:08 pm
About 15k-20k. Can't believe some of the figures on here. Not sure how much % goes on there but a lot of it. Not mortgage or taxes but a good proportion of everything else. Family of 3.
Why can’t you believe them?
Lol maybe because what some charge to credit cards each year could almost buy my house.

But yes I do recognize people live in hcol areas and have different priorities.

And very different incomes, even within the same geographic area. Which is why knowing expenses without income is of limited value.
In fact I would say that even knowing both is of limited value. Especially once retired when the goal isn’t usually to save as much more as you can. What could you possibly learn if I told you I spent only my pension and my divs in retirement and this was $50k or $500k or $5million? Other than how wealthy I was? Everybody spends their money differently. Everbody has different means. Some have very high means.

There is tremendous wealth in the US. I’m continually surprised that so many people are apparently so surprised when they learn that others spend so much more than they do and they couldn’t possibly figure out how they could?

Erwin007
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Re: Families - What's your total annual credit card spend?

Post by Erwin007 » Wed Jul 18, 2018 3:23 pm

Mjar wrote:
Wed Jul 18, 2018 9:26 am
Erwin007 wrote:
Tue Jul 17, 2018 10:46 pm
Mjar wrote:
Tue Jul 17, 2018 2:01 pm
Erwin007 wrote:
Mon Jul 16, 2018 11:25 pm
$73k last year. Everything possible goes on the card due to generous credit card rewards. Family of 5. Kids aged 11, 9, and 7.
what is generous and which card?
Costco Visa card. And we are executive members. 4% back on gas, 3% on travel and restaurants, 2% on everything at Costco (> 90% of our grocery shopping is done at Costco), and 1% back on everything else. I know there are cards with better rotating categories, but it isn’t worth the hassle to me to keep track of all that.
Erwin,
Thanks. I will have to look into that. we are Executive members as well but we use CapitalOne and get a flat 1.5% on everything. I will have to do the math on the Costco Card.
We spent just over $28,000 on travel and restaurants last year (2 trips through Costco travel, plus a few other trips with airfare, hotels, etc.) so at 3% that is a fairly healthy number. Plus with over 90% of our grocery purchases being done at Costco it makes sense for us. This is why personal finance is personal.

Momus
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Re: Families - What's your total annual credit card spend?

Post by Momus » Wed Jul 18, 2018 9:28 pm

Grt2bOutdoors wrote:
Tue Jul 17, 2018 6:49 pm
Momus wrote:
Tue Jul 17, 2018 6:19 pm
About 6k/yr. I guess I am the poorest in the forum.
Nope, you might just be a “cash on the barrel head” person. I know someone who only uses cash, doesn’t want to be bothered with using a card, collecting points, rewards. Nope, no nonsense pay it off at point of purchase using cash, direct debit or a paper check.
HA! I wish, I can't remember when the last time I used cash... avg total credit card bill $400/mo =(

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Sheepdog
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Re: Families - What's your total annual credit card spend?

Post by Sheepdog » Wed Jul 18, 2018 9:44 pm

HenrysCreek wrote:
Tue Jul 17, 2018 7:47 am
Crazyhats5 wrote:
Tue Jul 17, 2018 12:02 am
So I gather you guys are doing this for the rewards? Do you pay the balance in full each month?
Yes.
Me too. I pay everything I can with a credit card. I have never paid any credit card interest, plus I receive rewards in using them (2017 $1,592 cc rebate which, in effect, paid for my wife and my Indy Colts season tickets and some more last year.) What's there not to like?
It's not what you gather, but what you scatter which tells what kind of life you have lived---Helen Walton

Machine99
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Re: Families - What's your total annual credit card spend?

Post by Machine99 » Thu Jul 19, 2018 10:19 am

$0....

I can't remember the last time I used a credit card.... Probably been couple years at least. I guess I'm missing out on the perks...But we spend very little. We are in the hard core saving as much as we can phase right now.

Glockenspiel
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Re: Families - What's your total annual credit card spend?

Post by Glockenspiel » Thu Jul 19, 2018 10:22 am

Maybe $28,000-$34,000/year. Family of 4, but 2 small kids in MCOL midwestern city.

Glockenspiel
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Re: Families - What's your total annual credit card spend?

Post by Glockenspiel » Thu Jul 19, 2018 10:24 am

Crazyhats5 wrote:
Tue Jul 17, 2018 12:02 am
So I gather you guys are doing this for the rewards? Do you pay the balance in full each month?
Yes and Yes. I can't even remember a time that I've paid any interest on a credit card. Rewards, consumer protection, warranties, car rental insurance, trip insurance protection, are all benefits to using the card.

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Abe
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Re: Families - What's your total annual credit card spend?

Post by Abe » Thu Jul 19, 2018 11:23 am

I didn't even have a credit card for most of my life. After I sold my business, I decided to take a trip. Someone told me I needed a credit card because motels wouldn't take cash. My wife and I have one credit card now and we probably put around $7k a year on it, mostly gas and groceries. I know... I'm weird. :happy
Slow and steady wins the race.

Mjar
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Re: Families - What's your total annual credit card spend?

Post by Mjar » Thu Jul 19, 2018 2:07 pm

Erwin007 wrote:
Wed Jul 18, 2018 3:23 pm
Mjar wrote:
Wed Jul 18, 2018 9:26 am
Erwin007 wrote:
Tue Jul 17, 2018 10:46 pm
Mjar wrote:
Tue Jul 17, 2018 2:01 pm
Erwin007 wrote:
Mon Jul 16, 2018 11:25 pm
$73k last year. Everything possible goes on the card due to generous credit card rewards. Family of 5. Kids aged 11, 9, and 7.
what is generous and which card?
Costco Visa card. And we are executive members. 4% back on gas, 3% on travel and restaurants, 2% on everything at Costco (> 90% of our grocery shopping is done at Costco), and 1% back on everything else. I know there are cards with better rotating categories, but it isn’t worth the hassle to me to keep track of all that.
Erwin,
Thanks. I will have to look into that. we are Executive members as well but we use CapitalOne and get a flat 1.5% on everything. I will have to do the math on the Costco Card.
We spent just over $28,000 on travel and restaurants last year (2 trips through Costco travel, plus a few other trips with airfare, hotels, etc.) so at 3% that is a fairly healthy number. Plus with over 90% of our grocery purchases being done at Costco it makes sense for us. This is why personal finance is personal.
Agreed.

Jackson12
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Re: Families - What's your total annual credit card spen

Post by Jackson12 » Thu Jul 19, 2018 3:48 pm

Glockenspiel wrote:
Thu Jul 19, 2018 10:24 am
Crazyhats5 wrote:
Tue Jul 17, 2018 12:02 am
So I gather you guys are doing this for the rewards? Do you pay the balance in full each month?
Yes and Yes. I can't even remember a time that I've paid any interest on a credit card. Rewards, consumer protection, warranties, car rental insurance, trip insurance protection, are all benefits to using the card.
Yes and yes....pay it all every month. Wouldn’t attempt it , though, without an emergency fund to withstand a job loss or other large financial hit and to avoid those interest charges.

clutchied
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Re: Families - What's your total annual credit card spend?

Post by clutchied » Fri Jul 20, 2018 8:33 am

UpsetRaptor wrote:
Mon Jul 16, 2018 4:12 pm
Just for reference, I'm curious what you married-with-kids bogleheads are spending on your combined total credit card expenses each year? The last couple years DW + I have been in the $40-$45K range. Seems high to me when I look at it, though we do have 3 kids and put everything we can on CCs, including all shopping, food, gas, auto/life/umbrella insurance, some bills, and a couple vacations per year. The only expenses that really don't go on there are mortgage and a couple other bills for which we can't use CC or the "convenience" fee equates to >2%.
Fam of 4 but grandma lives with us so 5. 2 young kids.

2017 spend was $102k
2016 spend was $51k


major diff in 2017 was we prepaid our prop taxes ($11k) and bought a timeshare ($16k) DUMB.

jrbdmb
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Re: Families - What's your total annual credit card spend?

Post by jrbdmb » Fri Jul 20, 2018 8:40 am

naclt wrote:
Mon Jul 16, 2018 4:38 pm
We average around $3,500 a month so $42k a year. That excludes property taxes, insurance, and basic utilities (water, power, gas).

That’s for a family of 5.
Just FYI, the US Bank Cash+ credit card recently added a 5% category for utilities, so you can make some money on this too even if there is a small fee to pay these bills with a credit card. (I pay gas / electric with this card; the water bill is usually too low to make this worthwhile).

jrbdmb
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Re: Families - What's your total annual credit card spend?

Post by jrbdmb » Fri Jul 20, 2018 8:50 am

HIinvestor wrote:
Tue Jul 17, 2018 2:41 am
When we had kids in college, we put their tuitions, expenses and student housing. When we had 2 kids in college, it was VERY high. Honestly, haven’t totaled it then or now. I’m guessing it’s now probably about $100K or so for 2 adults, very high COL area. We also write checks, which aren’t included in this total.

Yes, we always pay balance in full and no interest or late fees. We like the 2% cash back. We also like getting points that become airline miles, which have purchased many plane tickets.
Any cards in particular to use for college tuition / other expenses? My son's school charges 1.5% to use a credit card, plus $45 per semester if I want to break the total bill into three payments. This makes using a CC close to a wash for me.

BTW to everyone - Dave Ramsey would *not* approve of this thread. :happy

MnD
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Re: Families - What's your total annual credit card spend?

Post by MnD » Fri Jul 20, 2018 9:03 am

Crazyhats5 wrote:
Tue Jul 17, 2018 12:02 am
So I gather you guys are doing this for the rewards? Do you pay the balance in full each month?
Around $100K. We do it for it for rewards and financial simplification/management. Yes, everything is "pay statement balance in full" via autopay on the due date.

Charge everything except the gas/electric utility, her haircuts/color, cash gifts and a relatively small amounts of walking around money.
I value our spend at a minimum of 3% in rewards so we do pay a 2.X% fee to charge our property tax and vehicle registrations, neither of which is a big dollar amount item in our state relative to overall spending on cards. We have low property taxes here and our cars are not very valuable or costly to register.

All of our cards statement dates close and are paid in full on the same day of the month and since non-card spending is trivial, we get a nice financial spending "close" monthly and around 28 days in advance of when that spending is due to be paid. I can see a month out the (typical) underspend relative to take-home income and move that to savings/investment accounts, or the occasional overspend and move what's needed to checking. That underspend/overspend is versus just in the amount of income we put in the spend (checking) account. All our "regular" retirement and other planned savings is done automatically and up front, before anything is moved to checking.

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Cycle
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Re: Families - What's your total annual credit card spend?

Post by Cycle » Fri Jul 20, 2018 10:01 am

jrbdmb wrote:
Fri Jul 20, 2018 8:50 am
BTW to everyone - Dave Ramsey would *not* approve of this thread. :happy
He'd say I should buy my vacations with cash instead of cc points/ airline miles. We are 75% net savers and couldn't travel as often as we do (3-4 international vacations per year) if it weren't for miles / points. Well we could... But we wouldn't be saving 75% net.

naclt
Posts: 22
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Re: Families - What's your total annual credit card spend?

Post by naclt » Fri Jul 20, 2018 11:26 am

Just FYI, the US Bank Cash+ credit card recently added a 5% category for utilities, so you can make some money on this too even if there is a small fee to pay these bills with a credit card. (I pay gas / electric with this card; the water bill is usually too low to make this worthwhile).
[/quote]

Thanks. Is that a set category for the card or does it rotate categories?

I think paying utilities by bill pay is one of my last remaining “old school” habits.

mptfan
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Re: Families - What's your total annual credit card spend?

Post by mptfan » Fri Jul 20, 2018 11:32 am

naclt wrote:
Fri Jul 20, 2018 11:26 am
I think paying utilities by bill pay is one of my last remaining “old school” habits.
I do the same and I don't think it's old school, bill pay has only been around for less than 15 years or so.

an_asker
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Re: Families - What's your total annual credit card spend?

Post by an_asker » Fri Jul 20, 2018 11:36 am

Grt2bOutdoors wrote:
Mon Jul 16, 2018 8:24 pm
livesoft wrote:
Mon Jul 16, 2018 6:48 pm
We pay almost everything with a credit card: phone bills, other utilities, insurance, college tuition, plus all the usual stuff. We try to never ever use cash for anything. So about $17 a year.
Seventeen dollars!?? Sign me up! I can retire in 5 years at that rate of spending.
Meg77 - with one year's worth of expenses - can sponsor over 6,500 years' worth of livesoft expenses ;-)

jrbdmb
Posts: 277
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Re: Families - What's your total annual credit card spend?

Post by jrbdmb » Fri Jul 20, 2018 12:43 pm

naclt wrote:
Fri Jul 20, 2018 11:26 am
Just FYI, the US Bank Cash+ credit card recently added a 5% category for utilities, so you can make some money on this too even if there is a small fee to pay these bills with a credit card. (I pay gas / electric with this card; the water bill is usually too low to make this worthwhile).
Thanks. Is that a set category for the card or does it rotate categories?

I think paying utilities by bill pay is one of my last remaining “old school” habits.
US Bank Cash+ has a few 2% categories (gas, groceries, restaurants) - select one each quarter. The they have about a dozen 5% categories - select two each quarter. Categories don't "rotate" but you must reselect them every quarter.

Categories do change on occasion; Utilities were added as a 5% category earlier this year (replacing Charity), and apparently restaurants were a 5% category before I got my card.

https://cashplus.usbank.com/categories/ ... arterId=47

Sportswhiz00
Posts: 149
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Re: Families - What's your total annual credit card spend?

Post by Sportswhiz00 » Fri Jul 20, 2018 12:56 pm

80k. Married with two young kids.

basspond
Posts: 1072
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Re: Families - What's your total annual credit card spend?

Post by basspond » Fri Jul 20, 2018 3:18 pm

About $50k. Taxes, charity, college tuition and rent, insurance, graduation monetary gifts, some utilities, and feeding the slots are about the only things that don't go on it.

MikeG62
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Location: New Jersey

Re: Families - What's your total annual credit card spend?

Post by MikeG62 » Sat Jul 21, 2018 7:02 am

jrbdmb wrote:
Fri Jul 20, 2018 12:43 pm
naclt wrote:
Fri Jul 20, 2018 11:26 am
Just FYI, the US Bank Cash+ credit card recently added a 5% category for utilities, so you can make some money on this too even if there is a small fee to pay these bills with a credit card. (I pay gas / electric with this card; the water bill is usually too low to make this worthwhile).
Thanks. Is that a set category for the card or does it rotate categories?

I think paying utilities by bill pay is one of my last remaining “old school” habits.
US Bank Cash+ has a few 2% categories (gas, groceries, restaurants) - select one each quarter. The they have about a dozen 5% categories - select two each quarter. Categories don't "rotate" but you must reselect them every quarter.

Categories do change on occasion; Utilities were added as a 5% category earlier this year (replacing Charity), and apparently restaurants were a 5% category before I got my card.

https://cashplus.usbank.com/categories/ ... arterId=47
Not to hijack this thread, but do you need to be a US Bank banking customer to get this card? I saw a reference on their website to it being a great option for US Bank customers. Not exactly sure how to interpret that.
Real Knowledge Comes Only From Experience

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White Coat Investor
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Location: Greatest Snow On Earth

Re: Families - What's your total annual credit card spend?

Post by White Coat Investor » Mon Jul 23, 2018 7:39 am

qwertyjazz wrote:
Tue Jul 17, 2018 9:42 am
White Coat Investor wrote:
Tue Jul 17, 2018 12:16 am
UpsetRaptor wrote:
Mon Jul 16, 2018 4:12 pm
Just for reference, I'm curious what you married-with-kids bogleheads are spending on your combined total credit card expenses each year? The last couple years DW + I have been in the $40-$45K range. Seems high to me when I look at it, though we do have 3 kids and put everything we can on CCs, including all shopping, food, gas, auto/life/umbrella insurance, some bills, and a couple vacations per year. The only expenses that really don't go on there are mortgage and a couple other bills for which we can't use CC or the "convenience" fee equates to >2%.
About $500-600K.

We're counting taxes, right?

Seriously though, if it can go on a credit card, it does around here.

Rewards and convenience.
For taxes, which credit card do you use and which IRS processing company do you use? The potentially smal yield differential has worried me about doing that in the past.
Thank you
QJ
Fidelity Visa (2% back) and pay1040.com (1.87%).

That's a little bit of gain for me given the size of my tax bill, the float helps a little too, you save a few stamps/envelopes/printer paper but mostly I just do it for the convenience.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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jharkin
Posts: 1798
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Location: Boston suburbs

Re: Families - What's your total annual credit card spend?

Post by jharkin » Mon Jul 23, 2018 8:04 am

WOW some of you spend a Lot of money.

Family of 4 here .. moderate HCOL (Boston suburbs). I work in high tech, wife works in public schools.

We put probably 30-40k (edit:the more I think about it, closer to 40+) a year on CCs:
All entertainment and travel
All retail
Gas
Groceries
All Insurance
Cell phone, landline, tv, internet

That’s it. Can’t pay the physical utilities, mortgage, property taxes, etc by card.

qwertyjazz
Posts: 1077
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Re: Families - What's your total annual credit card spend?

Post by qwertyjazz » Tue Jul 24, 2018 3:35 am

White Coat Investor wrote:
Mon Jul 23, 2018 7:39 am
qwertyjazz wrote:
Tue Jul 17, 2018 9:42 am
White Coat Investor wrote:
Tue Jul 17, 2018 12:16 am
UpsetRaptor wrote:
Mon Jul 16, 2018 4:12 pm
Just for reference, I'm curious what you married-with-kids bogleheads are spending on your combined total credit card expenses each year? The last couple years DW + I have been in the $40-$45K range. Seems high to me when I look at it, though we do have 3 kids and put everything we can on CCs, including all shopping, food, gas, auto/life/umbrella insurance, some bills, and a couple vacations per year. The only expenses that really don't go on there are mortgage and a couple other bills for which we can't use CC or the "convenience" fee equates to >2%.
About $500-600K.

We're counting taxes, right?

Seriously though, if it can go on a credit card, it does around here.

Rewards and convenience.
For taxes, which credit card do you use and which IRS processing company do you use? The potentially smal yield differential has worried me about doing that in the past.
Thank you
QJ
Fidelity Visa (2% back) and pay1040.com (1.87%).

That's a little bit of gain for me given the size of my tax bill, the float helps a little too, you save a few stamps/envelopes/printer paper but mostly I just do it for the convenience.
Thank you
G.E. Box "All models are wrong, but some are useful."

FootballFan5548
Posts: 159
Joined: Mon May 01, 2017 2:20 pm

Re: Families - What's your total annual credit card spend?

Post by FootballFan5548 » Tue Jul 24, 2018 9:20 am

Mid 30's, Family of 4, 2 young kids. HCOL area, NJ/ NYC Suburbs.

Our total spend is roughly $140k, which includes $60k for mortgage/prop taxes.

We spend the rest, or roughly $80k on credit cards.

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