Comments on: Spend Cash to Make Money – The Gist of ROI for the Average Joe http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Sat, 13 Mar 2010 15:12:38 -0800 http://wordpress.org/?v=2.9.2 hourly 1 By: Lee http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-19409 Lee Fri, 11 Sep 2009 01:26:22 +0000 http://moneyning.com/?p=3612#comment-19409 Here in the UK we have a site called QuidCo. The idea is you get cashback on things you'd normally buy anyway (car insurance, credit scores, gadgets... that sort of thing). The cashback is usually either a fixed amount, "We'll give you £5 if you sign up for a £6.99 membership", or "We'll pay you back 10% of your order total". If you're having to spend out on these things anyway, then you're a fool not to do it via QuidCo. But, the law of unintended consequences occurs occasionally and helps to make true Return on Investments. Here's my most recent example: A payday loan company was offering £65 cashback to get a loan from them. Ordinarily, they'd expect you to take out £500 or an amount along those lines... but the minimum amount they'd lend was £80. With their horrific interest rate, paying back this loan 30 days later resulted in me being charged £100. But, it actually resulted in £45 profit (after taking out the £20 'fee')! It's not often you'll get paid for borrowing money and I just love searching for little loopholes like that! Is there a 'QuidCo' for the USA? Here in the UK we have a site called QuidCo. The idea is you get cashback on things you’d normally buy anyway (car insurance, credit scores, gadgets… that sort of thing).

The cashback is usually either a fixed amount, “We’ll give you £5 if you sign up for a £6.99 membership”, or “We’ll pay you back 10% of your order total”. If you’re having to spend out on these things anyway, then you’re a fool not to do it via QuidCo.

But, the law of unintended consequences occurs occasionally and helps to make true Return on Investments. Here’s my most recent example:

A payday loan company was offering £65 cashback to get a loan from them. Ordinarily, they’d expect you to take out £500 or an amount along those lines… but the minimum amount they’d lend was £80. With their horrific interest rate, paying back this loan 30 days later resulted in me being charged £100. But, it actually resulted in £45 profit (after taking out the £20 ‘fee’)!

It’s not often you’ll get paid for borrowing money and I just love searching for little loopholes like that!

Is there a ‘QuidCo’ for the USA?

]]> By: DDFD @ DivorcedDadFrugalDad http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18953 DDFD @ DivorcedDadFrugalDad Tue, 01 Sep 2009 16:11:11 +0000 http://moneyning.com/?p=3612#comment-18953 Great post! Self improvement is a great investment . . . Great post!

Self improvement is a great investment . . .

]]> By: Wilson Pon http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18831 Wilson Pon Sun, 30 Aug 2009 04:11:47 +0000 http://moneyning.com/?p=3612#comment-18831 Ning, I truly agreed with your thoughts, especially the first and the last parts. Honestly, I found most of my inspiration from reading. Once the concept had been carried out, it's time for practicing, as practice makes perfect! Ning, I truly agreed with your thoughts, especially the first and the last parts. Honestly, I found most of my inspiration from reading. Once the concept had been carried out, it’s time for practicing, as practice makes perfect!

]]> By: Jessica Griffin http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18682 Jessica Griffin Thu, 27 Aug 2009 10:01:15 +0000 http://moneyning.com/?p=3612#comment-18682 While blogging is a pleasurable hobby, I am apprehensive about making it my only source of bread and butter. What is the guarantee that i will make money off of it? I prefer to write for pleasure, rather than for an income. While blogging is a pleasurable hobby, I am apprehensive about making it my only source of bread and butter. What is the guarantee that i will make money off of it? I prefer to write for pleasure, rather than for an income.

]]> By: MoneyNing http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18679 MoneyNing Thu, 27 Aug 2009 04:30:08 +0000 http://moneyning.com/?p=3612#comment-18679 Good luck with your pursuit for your $3M goal. It's a lofty target but already aim high to strike big! Thank you for adding me to your blogroll. I will for sure check out your site. Good luck with your pursuit for your $3M goal. It’s a lofty target but already aim high to strike big!

Thank you for adding me to your blogroll. I will for sure check out your site.

]]> By: RB @ Financial Samurai http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18675 RB @ Financial Samurai Thu, 27 Aug 2009 02:57:17 +0000 http://moneyning.com/?p=3612#comment-18675 Hey David - Wow, I didn't realize you blog full time. That's fantastic! I understand what you are saying regarding transitioning from hobby to your sole source of income. I have to imagine if Financial Samurai was the only thing that fed my family, I'd probably obsess over it immensely. It may not be healthy for someone like me, b/c once I sink my teeth into something, I go 20 hours a day for months. My goal is very simple, but a little daunting. Save up $3 million cash by age 42, and live off the $120-140,000/yr in interest income. And then, maybe, I'll be like you but blog off my private deck on a cruise somewhere in the Mediterranean! :) I've happily put MoneyNing.com on my blog roll. Hope to hear some of your thoughts in the commentary section of Financial Samurai sometime! Best, RB Hey David – Wow, I didn’t realize you blog full time. That’s fantastic! I understand what you are saying regarding transitioning from hobby to your sole source of income.

I have to imagine if Financial Samurai was the only thing that fed my family, I’d probably obsess over it immensely. It may not be healthy for someone like me, b/c once I sink my teeth into something, I go 20 hours a day for months.

My goal is very simple, but a little daunting. Save up $3 million cash by age 42, and live off the $120-140,000/yr in interest income. And then, maybe, I’ll be like you but blog off my private deck on a cruise somewhere in the Mediterranean! :)

I’ve happily put MoneyNing.com on my blog roll. Hope to hear some of your thoughts in the commentary section of Financial Samurai sometime!

Best,

RB

]]> By: Save Money Hound http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18668 Save Money Hound Wed, 26 Aug 2009 23:54:13 +0000 http://moneyning.com/?p=3612#comment-18668 Reading and continual education are important. Luckily, these days there are some great resources out there, some for free for those who can't outlay a lot. It's certainly worthwhile in the long run to invest some money in your own education. MoneyNing - What are your favourite all time recommended resources that have really influenced you? Reading and continual education are important. Luckily, these days there are some great resources out there, some for free for those who can’t outlay a lot. It’s certainly worthwhile in the long run to invest some money in your own education. MoneyNing – What are your favourite all time recommended resources that have really influenced you?

]]> By: Lenny http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18663 Lenny Wed, 26 Aug 2009 23:09:44 +0000 http://moneyning.com/?p=3612#comment-18663 It's funny how I just came back from a meeting where the boss gave a 30 minute lecture on ROI. I literally wanted to tell him that what he's doing is definitely not worth the investment of his money (our time at work) and that if these useless lecture kept up, we would definitely be thinking about our ROI of working at the firm! It’s funny how I just came back from a meeting where the boss gave a 30 minute lecture on ROI. I literally wanted to tell him that what he’s doing is definitely not worth the investment of his money (our time at work) and that if these useless lecture kept up, we would definitely be thinking about our ROI of working at the firm!

]]> By: marci http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18656 marci Wed, 26 Aug 2009 21:21:29 +0000 http://moneyning.com/?p=3612#comment-18656 Reading and researching also allows you to learn from other people's experiences, and from their mistakes, without having to make the same mistakes yourself. It can give you a 'feel' for the opportunity, a chance to size up the situation before hand, and see if it is something you can deal with or if it is something that might have pitfalls that might make it worth avoiding. Learning - have to say that Freshman English in college was THE most valuable course I ever took. Layout, logic, follow thru, persuasion. Great stuff :) Highly recommend it. Skills - any do-it-yourself skill that you can use to save money is a wonderful skill! And most learning (books/videos) is free :) (from the library) Practice - it builds confidence, and that enables you to do it naturally and without having to spend much time thinking about it. Saves time in the long run. As an example, my goal this year was to improve my canning skills and can meats. The first couple times were 'watch' and soak-it-in (a friend was teaching me). The next time I stepped up to bat and did the work under supervision. Then last Sunday, on my own, I just tackled the whole project all alone. GREAT feeling of satisfaction over having accomplished something that a month ago I didn't know how to do... and increasing Confidence with each run thru the process :) I can Can :) (Yes, I can Can-can, too) :) Reading and researching also allows you to learn from other people’s experiences, and from their mistakes, without having to make the same mistakes yourself. It can give you a ‘feel’ for the opportunity, a chance to size up the situation before hand, and see if it is something you can deal with or if it is something that might have pitfalls that might make it worth avoiding.

Learning – have to say that Freshman English in college was THE most valuable course I ever took. Layout, logic, follow thru, persuasion. Great stuff :) Highly recommend it.

Skills – any do-it-yourself skill that you can use to save money is a wonderful skill! And most learning (books/videos) is free :) (from the library)

Practice – it builds confidence, and that enables you to do it naturally and without having to spend much time thinking about it. Saves time in the long run. As an example, my goal this year was to improve my canning skills and can meats. The first couple times were ‘watch’ and soak-it-in (a friend was teaching me). The next time I stepped up to bat and did the work under supervision. Then last Sunday, on my own, I just tackled the whole project all alone. GREAT feeling of satisfaction over having accomplished something that a month ago I didn’t know how to do… and increasing Confidence with each run thru the process :) I can Can :) (Yes, I can Can-can, too) :)

]]> By: MoneyNing http://moneyning.com/better-yourself/spend-cash-to-make-money-the-gist-of-roi-for-the-average-joe/comment-page-1/#comment-18653 MoneyNing Wed, 26 Aug 2009 19:53:30 +0000 http://moneyning.com/?p=3612#comment-18653 I look forward to seeing more of your insights! I blog full time for a living and it's literally like a dream come true. However, I must warn you that once you rely on your blog as your way of living, the pressure for you to perform will change your attitude about it. Don't get me wrong, I love what I'm doing but the blog is no longer a hobby when it's the very thing that feeds your family. I look forward to seeing more of your insights!

I blog full time for a living and it’s literally like a dream come true. However, I must warn you that once you rely on your blog as your way of living, the pressure for you to perform will change your attitude about it. Don’t get me wrong, I love what I’m doing but the blog is no longer a hobby when it’s the very thing that feeds your family.

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