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Danny's Corner

Money talk - a little money from nothing

Money typically doesn't come free. Usually, you gotta work for it. So if I can find a little edge to exploit, I'm going to give it a go. My "beer money" strategy of late is pretty simple.

1) Make sure the bulk of my money is in a "high" interest savings account.  Ally @ 1.2% is where my money is current parked.

2) Funnel as many purchases as I can into credit cards, use certain credit cards for certain purchases, and take advantage of as many rotating 5% cash back offerings and shop online specials that I can. Discover, Chase Freedom, and Amazon Prime are my go to cards for this.

3) Pay off all credit cards at the end of the month.

Not rocket science stuff here. But it does presume that I trade on my credit rating as well as keep up to date on what credit cards I should be using. I keep a small crib sheet in my wallet to remind me when and where I should use a credit card. All told, if I stick to my crib sheet ruthlessly, I do get a nice chunk of change back in these cash back offerings. So far for 2017, I've managed to scrounge up a bit over $500. It seems I'm on track to get a combined total of about $1200 from simple savings account interest + credit card rebates.

Not bad! Who wouldn't want that? The realities of living it though, are a bit different. The money comes in small chunks of $20 here, $40 there. Its easy to think that the effort isn't worth it. You also need to realize that you're spending money. The first rule of saving money is don't spend money. 5% is awfully attractive if you're building that into your purchase price.

And there you have it. How to squeeze a bit of cash money from nothing. It does require that you have the means to exploit them. But if you do, and an extra $500-750 is appealing, it's very doable.

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