<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Cooking and 5% Interest! (1 of 2)

Cooking and 5% Interest! (1 of 2)

January 6th, 2016 at 12:56 am

Tonight I was in the cooking mood for whatever reason. Smile I made a corn casserole, a big pot of quinoa, and am still working on roasting the butternut squash.

It's amazing I have any energy right now, seeing as though I woke up about 3:30 a.m. and couldn't go back to sleep ...

---
Work was so so today. Pretty busy at times, and had a meeting to discuss how we handle getting out route detour information to the public, as well as an issue related to the big route changes coming in August.

--
Speaking of work ...

Remember quite a while ago I mentioned that there was a librarian position open at the local community college? I kind of bailed out on actually applying for it - just couldn't do it to my boss.

Well ... the person they hired for that job didn't work out. The position is available again. Taking applications til the 18th.

A part of me is wondering if this is God nudging me to where I need to go. I didn't listen the first time, so He's giving me a second chance.

The job description DOES state clearly that they want someone with at least 1 year of *college* level library experience. If that is truly a big factor, then I won't have a chance anyway.

But I'll never know if I don't try. I am going to try. Gulp.

As much as I love my boss, I don't know if I can really take 15 years of giving directions over the phone ... and dealing with some of the people I deal with on a daily basis.

---
So ... on to the other topic. What am I talking about? 5% interest? Unheard of!

Well this is something I saw I the MMM forums a few weeks ago and decided to test it out for myself. I wanted to see how easy it would be.

Here's what I did - I signed up for a Brink's Mastercard PrePaid Card. Once I got it, I activated it and started the process of adding it as an external account to my checking account. Then I had to verify the transactions.

Next, I set up a money transfer from checking to my card. That went through today.

Finally, I moved the money from the card and set up a savings account.

The savings account pays 5% interest up to $5,000. If you ever want to get money back into your checking, all you have to do is move the money back onto the card, and then do an ETF/ACH transfer.

To avoid the inactivity fee, I also set up a recurring transfer of $2 to my card from checking once a month.

That's it. All there is to it. Smile

A more detailed guide: http://thefinancebuff.com/netspend-5-percent-savings-account.html

Now, I also earned an extra $20 right up front - by using a referral code. That person (from the MMM forum) also received $20 after I funded $40+ on my card.

This is a great way to put away up to $15k per person (see detailed link) that you are saving for an EF or a house downpayment, etc.

If you are interested, and would also like to help me out Big Grin My referral link is: http://www.brinksprepaidmastercard.com/prepaid-debit-card/applyNow.m?ctxName=b_raf&uref=3469171546

Mango is another card which pays 6%, but requires a lot more work. This card (Brink's) is paying you $270 (in a year) for less than an hour's work.

Posted in Work Related, Financial, Accountability, Extra Money Tracking | 10 Comments »

10 Responses to “Cooking and 5% Interest! (1 of 2)”

  1. Petunia 100 Says:
    January 6th, 2016 at 01:28 am 1452043685
    1452043685

    Laura, your first priority is to YOU, not to your boss. Of course she would hate to lose you, but a good boss does not begrudge a subordinate trying to better him/herself. Definitely you should apply for any librarian job which pops up. You earned that masters in order to be a librarian. You really seemed to love your librarian job in New Mexico. Do not give up on your dream.

    That Brinks account sounds lucrative. Is the account FDIC insured?

  2. FrugalTexan75 Says:
    January 6th, 2016 at 01:34 am 1452044088
    1452044088

    Thanks Petunia Smile
    Yes, it is FDIC insured. Smile

  3. Dido Says:
    January 6th, 2016 at 08:09 am 1452067799
    1452067799

    The job sounds like a real opportunity. Go for it! How will you feel in 10 days, 10 months, and 10 years if you are still at your current job?

  4. VS_ozgirl Says:
    January 6th, 2016 at 10:59 am 1452077948
    1452077948

    A good boss is a valuable thing, and certainly something to be appreciated, but in the end you need to remember that business is business. If you were working and really hard times fell on your work, your boss would probably try to keep you, but they would in the end realise that business is business and they would regret letting you go, but they would do it if needed. If where you are is not necessarily where you want to be in 5 years time, then you need to look at your career in the same way. If you need to go, to grow in the area you think you should be in, then you need to go.

  5. MonkeyMama Says:
    January 6th, 2016 at 04:17 pm 1452097058
    1452097058

    Interesting on the 5%. I wonder how long they have offered 5%. I've got too much tied up in CDs right now but will maybe consider it in a few months since it's not a CD. Could be a place to put new savings. Of course, gives me some time to sit back and see if they keep it at 5% after word spreads. I imagine most people wouldn't deal with the hassle though.

  6. Joan.of.the.Arch Says:
    January 6th, 2016 at 05:10 pm 1452100219
    1452100219

    Oh, thanks. I'm talking the 5-6% over with my mate.
    I say apply for the library job.

  7. Frugaltexan75 Says:
    January 6th, 2016 at 05:13 pm 1452100424
    1452100424

    Thanks Dido / VS. I'm planning on going for it. Smile
    MM - you're probably right - that not many would want to put in the effort- but for me, spending about 40 minutes altogether to earn several hundred dollars... Definitely worth it. Smile

  8. Frugaltexan75 Says:
    January 6th, 2016 at 05:16 pm 1452100578
    1452100578

    Joan -Sounds good Smile

  9. creditcardfree Says:
    January 6th, 2016 at 09:34 pm 1452116067
    1452116067

    So why does one link reference net spend prepaid card and another Brinks? Is there a particular reason you went with Brinks? It also mentioned in the first article that each person could have three cards with three savings accounts, thus invest $15K at 5%...so if you have a spouse you could invest up to $30K.

    Thanks for the heads up...may look into this further. Would be much, much better than 1%!

  10. FrugalTexan75 Says:
    January 6th, 2016 at 11:18 pm 1452122328
    1452122328

    CCF - The Netspend card is the same idea as the Brinks, just a different company. I just decided to start with Brinks - Netspend will be next. It's suggested to do only one at a time (finished to being funded.)

    Yes, you can have up to three accounts per person (using different email addresses/logins.) So a couple could have up to $30k at 5%.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]