Beginner points cards, avoiding laundry day, and more reader questions answered!
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This week I’m answering mailbag questions from readers. Have a burning question about points, life planning, or anything else that feels grown-up? Leave a comment here, send an email to readysetgrowup@gmail.com, or hit me up on Twitter @RaeVotta.
Q: I’m just getting started with points and want a credit card, but I don’t know which one to apply for first. What do you recommend for a total beginner?
A: Unless you know you’re loyal to a specific points program above all else, it’s not great to go with a card that only rewards you in one form of points currency, so that knocks out all the Delta, United, etc., cards in the market. While many sing the praises of the American Express Platinum card, it does come with a hefty fee ($550 as of the writing of this newsletter). Also, not all merchants accept Amex. If you’re a true beginner, I suggest starting with Chase points and opting for the Chase Sapphire Preferred card ($95 annual fee). Plus, once you’re ready for a high-fee card for maximum points earning, you can move on to the swankier Reserve ($550 annual fee) and pool all those points together into one program.
Q: I hate doing laundry. Am I not an adult if I can’t deal with washing, drying, and god-forbid ironing? There has to be an easier way.
A: There is, but it will cost you. When I moved to NYC, I knew how to do laundry, but I didn’t have a machine in my building. That’s when I discovered the wonder of the wash and fold, a drop-off service that you can find all over the city at most laundromats. Instead of spending my time there, I could pay a premium and pick up my clothes on the way home from work. You pay per pound for your laundry and don’t need to supply soap suds or anything. While I used to lug the clothes myself, with the advent of the app economy, there are options in most major cities, including Rinse, SudShare, and Hampr.
Q: Every single one of my friends is getting married this year (thanks a lot, covid delays). How do I survive this on a budget?
A: First, I’ll assume you're not in any of the weddings as that adds an extra layer of required spending that it’s hard to avoid. My first recommendation is to buy a very nice but plain outfit (a solid color dress or a good suit). This is your wedding uniform. To avoid looking identical in every picture, you’ll spice it up with accessories each time. If you’ve got a glut of weddings, go for two outfits max. This works exceptionally well if you have weddings that don’t have many repeat guests between them, of course. Another option for those who wear dresses if the weddings are within a month or two of each other is to sign up for Rent The Runway briefly and rent a ton of dress options. Have more than enough in case something doesn’t look right. This is especially helpful for super formal weddings where the simple dress won’t do, and it will only cost you around $150 a month for multiple looks.
As for gifts, jump on that registry fast. You can have your pick of presents and get something small but impactful. Or align with a few friends and pick up a more expensive item together before a rich aunt or uncle claims it and leave you with bath towels. Not that there’s anything wrong with gifting the bath towels if that’s what your budget allows. Stick to the registry, though. There’s no reason to go wild and buy something that’s not required when you’re on a budget.
Finally, an important reminder: you can say no. If you really can’t afford it, you can always skip out on the wedding and send a small gift. Remember that skipping out (with ample warning via RSVPs) saves the couple on the cost of their wedding too, or frees up that spot for someone else, so everyone wins!
Disclaimer: I am not paid directly to promote any services or products. All advice provided in this newsletter is general advice and does not consider your financial situation. I am not a tax professional.