I am a member of the Collective Bias Social Fabric community. Although I have been compensated to share my experience with you by Collective Bias and their client, Mastercard all experiences share are my own.
Who says that having a MasterCard can’t actually help your budget? Let me explain how I use a Prepaid MasterCard credit card to stay in control of my finances.
My Mother was a very frugal person. As a stay-at-home Mother of five, she knew just how important it was to be budgeted and stretch every dollar. I learned early to follow in her footsteps. Before Bryan and I married we discussed our budget as we wanted to stay in control of our finances. With both having good jobs back then, we had more freedom.
Over ten years later we have expanded our family to include three young children. With my strong desire to be a stay-at-home Mother, we started making many changes to our finances. We made many cutbacks and adjustments in our spending habits so I could start working from home to be with our children. While it wasn’t always easy, we learned that staying on top of our budget was the key to success!
We found that using a cash system was the easiest way to make our finances work. It is actually really quite simple. You have an envelope for each bill you have: mortgage, electric, utilities, cell phones, insurance, doctor bills, gas, groceries, mad money, etc. When you are paid, rather than deposit the money into your checking account you simply cash it. Then you divide the money between the envelopes according to your budget. When the time comes to pay your bill you have the cash set aside for it. This ensures that you do not overspend with the ease of sliding your card; when the money in the envelope is gone, it is gone.
When I saw a display that contained a prepaid credit card and a prepaid debit card I really didn’t see the need for them myself. I had a system that worked great for us. Then I started looking into the features of a prepaid credit card and the more I read about them, the more I saw the need for getting one myself.
Benefits of using a prepaid MasterCard
- Using a prepaid MasterCard is SAFER than using cash. I was most excited to learn that I can actually register my card. If, let me say when my card is lost, I can actually recover my money. If I were to lose an envelope of cash, it would be gone.
- They have greater CONVENIENCE than cash. I am that Mom at the checkout with one crying child, one that wants to touch everything and has a newborn. Whatever makes my purchases go quickly is a huge plus! Having to dig out a cash envelope isn’t always the quickest thing to do. Simply sliding a card is something even my five-year old can handle.
- You can use them ONLINE! Once you start paying your bills online you never go back! With three children it is awesome to not have to load and unload each time I need to make a payment. I can pay my bills or shop online from the comforts of my own home.
- Add money ANYTIME. You can load money onto your card, just as you would add money into your envelope at a local store, online or even by direct deposit!
With our newest addition to our family added in August, now more than ever it is vital for my family to stay in control of our budget. Why not try for yourself to see how easy it is to control your spending with a prepaid MasterCard? It is so easy to get a prepaid card, there is no credit card or bank account required.