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Monday, September 05, 2011

American Express Prepaid Card

Budgeting. I know the importance of having a budget; it helps you to see where your money is going and to not overspend. It helps you to set aside money for bills, other monthly expenses, charities, tithes, savings etc. I've never actually sat down and made a hard and concrete household budget though. I've just paid myself first, paid the bills, and tended to not spend on many unnecessary things.

To be honest, living in base housing most of my life I've been lax with feeling the need to do a budget. We didn't have mortgage, or rent, utilities, gas, water or any of those expenses that typically come along with owning a home.

Now that we own a home I'm seeing the value in sitting down to do the not-so-fun task of creating a budget. We need to budget for the mortgage, electric, water, home security, warranty, insurance and it seems on and on and on.

Living on base I also used to only shop at the commissary; not so much anymore. In most areas I do find the commissary to have cheaper prices, however they don't double coupons and I have to consider the mileage and cost of gas to get to the base as opposed to the grocery store around the corner.

My next goal is to come up with a grocery budget and try to stick to that set amount every month. To help me out with this I'll be trying out the American Express Prepaid Card. Every month I'll load the amount I've chosen for a grocery budget and take only that card with me when I go grocery shopping. When I've used it up I'll know that I'm done for that month and will have to make do with whatever is left in the house!

The are no fees for ordering an American Express Prepaid Card, monthly maintenance, activation, balance inquiries, alerts, card replacement, or loading via bank account. These are all big pluses for me; otherwise I wouldn't consider using it - it would defeat the purpose of trying to save money wherever I can!

There is no credit check to order a card, so there it won't impact your credit history. The money on the card doesn't expire and if lost the card can easily be replaced. Users have full control via an online account where you can load money, view transaction history, and set up alerts. You also get some of the same benefits that you get with an American Express card like Roadside Assistance, Purchase Protection and 24/7 customer service.

It was very easy to order the card and add the amount of funds I wanted through my bank account. There is no charge for standard shipping of the card either. Hopefully this little change will get me well on my way to creating, and sticking to, a household budget!

“I wrote this review while participating in a blog tour by Mom Central Consulting on behalf of American Express and received a promotional item to thank me for taking the time to participate.”

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1 comment:

Mom24 said...

Good luck! I spend a ridiculous amount of money at the grocery store each month. I wish I could cut back, but it just doesn't seem to happen. Can't wait to hear how you do.