We are 199 days down and only 2801 days to go on our 3000 day journey to financial independence....
Today, we would like to show you how easy it is to make some serious money for doing very little work. With a few small life optimization techniques, you can make a dramatic impact on your budget.
This month we made some decisions that earned us $1200 in tax free dollars which equates to $1,714.00 in before tax dollars using a 30% tax rate. That is 1 - 2 weeks pay for some hard working employees. Best of all we did this in just 15 minutes!!
Here is how we did it in 4 easy steps.....
Step 1: Cash Rewards (time taken - 1 minute, saving $520+):
We signed up with Cash Rewards, all you need to do is enter your name and email address and you are on your way to making money.
We were instantly drawn to the Woolworths gift cards as every time you buy one, you get an instant 5% off, so our $200 shop just became $190....easy as that.
I plan on doing this every week, so our total saving is $10 per week x 52 weeks = $520.00 plus any cash backs we receive.
There are many more ways to save at Cash Rewards. We will do a more detailed post about it in the future once we have had a good chance to explore the benefits.
Step 2: Credit Card Hacking (time taken - 8 minutes, saving $340+):
Now, Mrs 3000 and I are not too fond of credit cards. We hate the fact you are always paying for things 30 - 40 days after you purchase something, rather than paying for them at the time as with debit cards. It can be a dangerous cycle unless managed carefully, so just make sure you stay in control. However with this in mind, there is so much talk in the FI community (especially in the US) about credit card hacking, so we just had to try it.
We signed up for an ANZ Rewards Platinum card which offered 65,000 bonus points after spending $2,500 and no annual fee for the first year, so we plan to cancel the card soon. We have had the card for about 4 months and accumulated around 74,500 points and just yesterday we converted our points to $340 in Woolworths gift cards.
I don't know about you, but I love money for nothing....it feels oh so sweet. We will most likely do this again once we cancel the ANZ card.
Step 3: Insurance Renewal (time taken - 3 minutes, saving $194):
We received our contents insurance renewal via email and surprise....a 40% increase in premium with no explanation and no increase in cover. Now most people would just pay this without blinking, as it pays to be loyal right? WRONG!! In our experience insurance companies are notorious for offering low introductory rates in the first year and then jacking up the premiums in the following years.
Never pay your policy renewal automatically, always do a quick google search to see what else is on the market. We went to Australia Post Insurance, with exactly the same cover and saved $194. All sorted in 3 minutes flat.
Step 4: CTP Green Slip Renewal (time taken - 3 minutes, saving $146):
We received our CTP green slip for our super frugal Suzuki Celerio (4.8Ltr per 100kms). With a quick cost comparison using www.greenslips.nsw.gov.au we found NRMA was the cheapest, and having the option to bundle this with our other car insurances/membership we saved even more money.....a total of $146 saved.
Again, the moral of the story is never just auto-renew an insurance policy, always compare the market.
So, there you have it, 4 easy steps to make a cool $1,200 tax free. No tricks, no scams and best of all it only took 15 minutes to earn!
Do you have any money saving tips? If so, share these in the comments section below.
All the best, Mr 3000
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