Making Money Spending Money
By Jim Bauer
@porwest (78761)
United States
December 21, 2022 5:11pm CST
Maybe it is not really making money, but more appropriately would be classified as offsetting spending.
Either way, I always understand that even being the frugal guy I am, I, like everyone else still have to spend money.
After all, the truck and my wife's car need gas. We have to eat. We need toilet paper to wipe our butts and other stuff to keep the household running in tip top shape.
If I can find ways to make money, or offset the spending, depending on how you want to look at it, that is something I always strive to do.
As such, I made a recent purchase at our local grocery store, Schnuck's, and spent $70. I use an app called Upside which gives you cash back on groceries, restaurants, and gas stations that are in the app, and Schnuck's happens to be one of them.
They offered 6% cash back.
So, I spent the $70 (and shopped frugally of course), and used the Upside app, and got $4.19 back. On top of that, I used my Discover card to pay for it, and that gave me another 1% back.
So, my total earned (or offset)? $4.89.
And of course, where will the "earnings" or "offsets" go? Into investments naturally. If I put it into QYLD which pays me 12%, that $4.89 will then be worth $5.48.
Just one of the ways I make money spending money I have to spend anyway.
13 people like this
9 responses
@FourWalls (62181)
• United States
22 Dec 22
I’ve mentioned before that my cash-back credit card pays more than my savings account, so I buy everything with the credit card, pay it off every month, and get 1% cash back (as opposed to .25% a year). Of course, I do have my savings, but it’s something when the credit card pays more than the savings account does.
3 people like this
@porwest (78761)
• United States
5 Jan 23
You need to get yourself an Ally account. They are paying 3.3% these days. Still not beating inflation, but it sure beats .25% and even 1%.
But that all aside, I do the same. It's ALMOST like free money. Or at least a discount. However one prefers to look at it.
1 person likes this
@LindaOHio (156271)
• United States
22 Dec 22
Always thinking! I hope you and wifey stay safe and sound during this storm!
2 people like this
@LindaOHio (156271)
• United States
23 Dec 22
@porwest Yup. It's so windy that there is a definite breeze inside. We need a couple of windows replaced.
1 person likes this
@porwest (78761)
• United States
22 Dec 22
I always figure it this way. The more ways I can find to make my money work for me, the less I have to find ways for me to make it working. lol
We are doing our best. But it's REALLY cold outside. Even with the heat running, there is still a chill in the house.
1 person likes this
@porwest (78761)
• United States
24 Dec 22
@LindaOHio That can be expensive. But so can having to jack the heat up.
1 person likes this
@RebeccasFarm (86764)
• United States
22 Dec 22
Thats very good Jim..I often do this what you are doing.
I make quite a bit each week, I mean not a fortune but between the money off and the percent offered I do okay.
1 person likes this
@RebeccasFarm (86764)
• United States
23 Dec 22
@porwest It does especially when money won't be worth anything soon. You can melt it down to make ornaments.
@MarieCoyle (28607)
•
22 Dec 22
I like Schnuck's because they have the Schnuck's card thing...my bill was $30.12 the other day, I then got to deduct my earnings on the card of over $5, so that's nice. Plus, like many other people I only go there for what's on sale.
1 person likes this
@moffittjc (118459)
• Gainesville, Florida
23 Dec 22
I agree. I use the Checkout51 app when getting gas. The local station I fill up at every week is one of the few that are on the app. The amount I get back through the app changes weekly, but it’s usually between 7-11 cents per gallon. It doesn’t sound like much, but it adds up quickly, especially since I have a truck with a 30 gallon tank.
@VictorFrankenstein (200)
• United Kingdom
21 Dec 22
I do the same sort of thing. There's a cashback website I use - among other things, there's a section on the website that allows me to buy pre-paid gift cards for various shops, including three supermarkets that I use. So for instance I've just now bought two £10 Morrisons vouchers from this website. The cashback rate is 2.5%, so that's 25p cashback for each card. Not a lot, but I do this every week, so it adds up over time. I used one of my cashback credit cards to pay for them, so that's also a bit extra. When I go shopping after work tomorrow, I'll be using my supermarket loyalty card (which gets discounts on some items), and one or both of the vouchers I bought tonight. Plus my cashback credit card for whatever sum's not covered by the gift cards. It all helps. And that's just one supermarket, I shop in several different supermarkets depending on what I'm shopping for. Due to a previous job that I finished a couple of months ago, I'm also enrolled in a couple of services that get me discounts on supermarket shopping. There's one where I can get a 10% discount on groceries by showing a card. When it comes to finances, you've got to play every angle you can.
1 person likes this
@wnninatt (4)
•
23 Dec 22
between income and expenses must be balanced, even better, more and more stable income, must be wiser in managing finances
