Make $120 A Year the Easy Way

"There may be no such thing as a free meal, but we can still eat cheap"

Aug 8, 2016
Financial Safety

For my first actual post about generating money, I will reveal something to you that I have done for the last few months. I wanted to make sure this technique works before recommending it to others and so far it has been successful. This technique generates up to $120 a year,
which is not huge, but it is great in terms of ROTI (see previous post on ROTI).

I am a fan of the benefits you can get from credit cards.One of my favorites is the from Bank of America, the Better Balance Rewards Card. The Better Balance Rewards Card gives you a $25 credit for every quarter if you pay off your balance at the end of each month. This card is great for everyone who does not currently carry a balance. It gives you an additional $5 if you have a Bank of America Checking account for the funds to be deposited into, netting you a grand total of $10 a month or $30 a quarter or $120 a year. You get the reward even if you spend less than $30 a quarter using the card, so this is what I do to maximize the returns while minimizing the work.

1. Open up a Bank of America checking account
2. Open up a Bank of America Better Balance Rewards Card
3. Sign up to have your rewards deposited into you checking account
4. Make a small purchase each month using the credit card or get an automatic monthly subscription such a Netflix.
5. Pay off the card in full by the end of each period
6. Receive your bonus at the end of each quarter

Netflix costs $8.99 a month but you get $10 a month in benefits which nets $1.01 a month. At this point you can forget about the accounts as the account literally pays for itself. Do not use the card for any other purchase since $30 back is most you can get. Before I had Netflix I would buy 1 soda or 1 bag of chips with the card each month, which would net me about $9 a month. Having a subscription nets a lower return but requires less monitoring, and therefore is better in terms of your Return on Time Invested.