Using Other Peoples Money

I did a Google Search for other peoples money since this is the title of my blog and all I found were websites talking about using OPM to open a business, invest in the stock market or to buy a house.

I'm referring to using OPM (other peoples money) by using a credit card for all your purchases...... Not just any credit card but one that gives you a cash back reward at the end of the year. When credit card balances are paid in full each month, not only have you used other peoples money, you have avoided paying those hateful finance charges and are truly earning money for just making a purchase with your cash back rewards credit card. Receiving a cash back reward check at the end of the year for purchasing what you would have normally purchased anyway is a no brainer in my opinion.

This method of purchasing everything on a credit card won't work for the carefree, impulsive spender but it does work for the responsible individual that has the will power and self-discipline to purchase only what he/she can afford and also pay the credit card in full each month to avoid any finance charges.

Am I the only one doing this, I don't think so! Let's hear it from all those who have earned money using their credit cards wisely for the everyday purchases we all make. Your comments are greatly appreciated and could be the encouragement others need to get out of that credit card debt slump of paying finance charges and penalties if their payment is late.