I’ll take issue with one thing, about credit cards. You said, “Don’t settle for anything less than 1% back (or 1 point or mile per dollar).”

It sounds like you’re saying that $0.01 = 1 point = 1 mile. Alas, it ain’t so. Usually, points and miles are worth less than a cent each — sometimes a lot less. To equate points and miles with any consistent equivalent of money is, I think, misleading and unhelpful.

There’s another reason for us to avoid points and miles as much as we can. When we have rewards in point or miles, we’re agreeing to hold part of our wealth in a currency controlled by a private company, right? It’s play money. Worse yet, that company has the incentive to devalue that currency (by, say, doubling the amount of miles that a domestic flight costs) when times get tough. It happens pretty often.

If you currently have a points/miles card and you’re close to a reward, sure, go for it. But as soon as your balance is low, switch all your spending to a cash-back card.

Mint has impressed me with its consumer-first advice and software. So may I recommend that you steer people far, far away from credit cards that earn rewards in anything but actual, U.S.-backed cash?

Whether it falls in the ‘making money work’ or the ‘protect yourself’ section, the author should point out unambiguously the cornerstone of risk management – diversification.

Freedom pays you 3% cash back in the top 5 categories that you spend money in up to $600 per month in purchases and at least 1% on everything else. There is no annual fee and they give you $50 in rewards after your first purchase!

The Freedom Plus has a $30 annual fee (waived the first year) but no cap on the 3% reward in the top 6 categories and you still get at least 1% cash back on all your other purchases. Chase still gives you $50 after your first purchase and with both cards you receive a $50 bonus in rewards if you wait until you have $200 in rewards sending you a check for $250.

I love this card!