Welcome to my blog about earning and saving more money toward my goal of financial independence. I’m almost halfway there! Instead of the traditional “About This Blog” story, I figured why not share some of the ways I make some easy extra cash?
1) Earn the most interest possible on your idle cash.
Interest rates are at historic lows right now, but my cash still earns 10x more than the average. Check out how I allocate my cash to maximize interest. From using the rewards checking programs of small local banks to using flexible 5-year bank CDS to buying almost-forgotten U.S. savings bonds to the best online savings accounts, you can also do much better. Earning 2% more on $5,000 is a hundred bucks.
2) Earn some quick bucks for signing up for accounts.
Do you take care of your credit score? You can get over $500 in incentives upfront just for signing up and trying out credit card. That’s per person, per card! Just put them away afterward or cancel them, there’s no need to pay a penny of interest. I’ve made thousands of dollars, flown first class to Europe, and stayed in 4-star hotels this way.
3) Get cash back whenever you make a purchase.
If you are responsible with credit cards, you should really use a credit card that gives you cash back or other perks when buying everyday purchases like groceries, gas, and even 5% back at Amazon.com! Here’s a list of the best cash back credit cards. You can easily get back $100 a year without changing any of your current spending patterns.
4) Save on monthly expenses
- Haggle your current cable or satellite TV bill down by over $100 a year by simply asking with this pre-made script. The worst they can say is no. Hundreds of people have saved over $120 a year with a single phone call.
- Save up to 30% off on your cell phone bill with an employee or student discount without changing plans. Qualify by just using your e-mail address. Want an iPhone? Check out the cheapest iPhone 4 plan available to the public.
5) Save on credit card interest!
If you are carrying balances, check out my list of 0% APR no-interest balance transfer offers and chop your interest payments by over $100 a year. Get over a year without interest! This way your payments go towards paying down the actual principal and not the credit card company’s profits, and watch your debt shrink.
6) Lower your stock trade commissions to Zero
How much do you spend on commissions every year? Wells Fargo offers 100 free trades a year, if you sign up for WellsTrade and also have a PMA Checking account package with a total of $25,000 in assets.
If you like to trade index funds using ETFs, you can get free ETF trades at many brokerage firms. I’ve dug through all the details on the free trade offers at Vanguard, Fidelity, Schwab, TD Ameritrade, and Scottrade.
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