My saving idea: Pay utility bills with credit card points

Every week, ET Wealth brings you news and ideas about how to save and invest. But individuals have their own saving hacks as well. In this new section, we invite you to share saving ideas that have worked for you. Mind you, we are not asking you to suggest stocks, mutual funds or other instruments. We just want you to share the saving hack that helped you cut expenses or allowed you to put away more every month. The best ideas will be published every week.

Samir Purohit from Pune has an idea that can turn your loyalty points into regular savings. While most of us use reward points for shopping, or simply let them go to waste for lack of use, Purohit uses credit card reward points to pay utility bills. Find out which bills you can pay with your points, and time it so that your point redemption cycle coincides with your bill payment, then bank the savings.

(Do you have a saving idea? Send your tip to Rs 2.09 lakh etwealth@timesgroup.com with “Saving Idea” as the subject line. The best ideas will be published and the contributor will get a copy of You Can Be Rich, the PF guide from ET Wealth.)