Let me clarify that this task of cash generation takes about 15 minutes of your time, but aside from that, you do nothing.
Do you come across these Chase deals? They come in the mail. I see them online. They’re advertised in the newspaper. I made $275 from Chase this fiscal year and $150 in 2011. I am aiming for $350 in 2013!
They’re all variations on an account theme: open a new checking account and get $150, open a new savings account and get $125. It’s insane. You don’t even have to do anything but write the check and sign the paperwork. Some banker at Chase did everything while I sat there reading work stuff.
Just make sure to read the fine print (this is why these deals are good for someone anal like me), know exactly when you can pull your money out so that you can start earning more interest elsewhere, and make sure there aren’t any hidden fees. In other words ask point-blank, “So if I keep $10,000 in the account for 6 months, there are no monthly fees?”
It’s essentially 125 basis points. No bank is doling out 125 basis points these days!
Sign yourself up. Sign your spouse up. Sign your best friend up. Easiest way to make money right now.