Could you use a $100 bonus? I know we could!
Our monetary situation and financial goals have been subjects in our household recently. Better employment opportunities for my husband was one of the reasons for our move to Tallahassee, with the goal of seriously augmenting savings and retirement funds. Our eldest child has been trying to sell her house for many months and we all know how painful the housing market is right now. Our middle child is a full-time college student (living at home) who, whenever gas prices go above $3.00 per gallon, has been required by mom and dad to use the city bus system rather than the family van to get to class. (Gas prices here in Tallahassee jumped from $2.89/gal. last Friday to $3.17/gal. yesterday!) And our youngest child is job hunting and discovering just how difficult it is to get that first job.
I am always looking for ways to save money or earn more money. I cut costs where I can and can hold my own amongst the best of penny pinchers. The last three months I have been on a “turn off that electricity consuming device when not in use” campaign and lowered our monthly electric bill by close to $100. So when I saw an opportunity to make an extra $100 while at the same time accomplishing one of our long-term goals, augmenting savings, how could I pass it by?
My Money Blog gives the details of Suze Orman’s SaveYourself promotion. Open a TD Ameritrade account by March 31, 2008 and set up an automatic deposit of at least $50 per month for 12 consecutive months. At the end of that 12 months you will receive a $100 bonus, as long as you have not withdrawn any money from the account in that time.
Since one of our goals is to save more money, I set up a TD Ameritrade account yesterday. I choose the money market fund option rather than a trading fund and have until the end of March to fund it. I can wait until the next payday (which only comes around once a month here) and then set up the automatic deposits. My thought is that I won’t be tempted to dip into a savings account that is not connected with our regular checking account at our regular bank. Out of sight, out of mind, right? And at the end of the first year we will have at least $700 tucked away, $600 of our own and $100 bonus (plus whatever interest accrues between now and then). Cool!