It takes money to make money, right? Well, I considered giving myself a little bit of "seed money" to start this experiment, but that would take some of the challenge out of it. If you know me, you know I love the challenge, so, there it is. No seed money.
So, how will I get my first bit of free money? Let's try ING Direct! I already have a savings account and checking account with them and they offer $10 for new referrals, up to $250! So, I'll be barraging my acquaintances until I get 25 people to sign up. Wish me luck!
If you want me to send you one of those emails to open up an ING Direct account, email me at thefreemoneyexperiment@gmail.com Not only will you be helping my experiment, but you will get a great account (4.5% interest) and a $25 bonus for yourself if you make an opening deposit of at least $250. Get some free money for yourself!
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There's no such thing as a free lunch, but there may be such a thing as free money. This blog will document my 365 day experiment to generate as much "Free Money" as possible. Check in often to see how I'm doing!
In "Real Life" I'm a data analyst. Pretty boring stuff to most people. However, I have a passion for learning about personal finance. I read financial self help books as fast as I can get my grubby little hands on them. I also enjoy reading financial blogs.
During one of my recent blog reading sessions, I read about a technique called Credit Arbitrage. It wasn't a new concept to me, but, for some reason, this time it caught my attention. I started thinking about the various ways I could glom onto some "Free" money. Thus the Free Money Experiment was born. This should be a fun journey for me and anyone who wants to follow along. Hopefully it will be profitable, too!
SCOREBOARD:
Free Money so far...
$129.14
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1 comments:
I love ING. I've had an account with them for over a year, and I love the automatic savings feature they have. Every week, a predetermined amount is deposited into my ING savings account. I never think about it, and keep increasing the amount until I feel it. I'm amazed at how much accumulates over time.
I also love how easy they make it to open new accounts. About a month ago I opened a Travel account. I'm putting a smaller amount in that one, but as soon as that account has reached our goal, my wife and I are taking a trip.
I've only just recently delved into their other products, like mutual funds. Things have been going ok, but I learned today that I needed to get a mutual fund with dividends that way my money would grow compounded.
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