September 2021 Free Cash Earnings Report £47 Free Money
Bank Rewards & Interests: £7
• Co-op: £1
• Natwest My Rewards: £3
• Santander Lite Bank Account: £3
Interests over Savings: -£31
• Moneybox General Investment Account £2,000 Emergency Fund: -£31
• Casual purchases: £2
• Free Bet: £4
eBay Sales: £65
• Pair of shirts: £2
• XBOX 360: £44
• Magazine: £2
• Tennis Balls: £17
September Total: £47 (-£37 below monthly target);
£1,452 above year target.
|Bank Rewards||Interest on Savings||Cashback||Freebies||Sales||Total|
|£7||9%||-£31||£2||3%||£4||5%||£65||83%||£78 – £23 = £47|
|Month||Free Cash Earnings||+/- to Monthly Target (£84)||Accumulative||to Year End Objective (£1,000)|
September brought a mere £47 in earnings. Lowest contribution to the Free Money Pot for the year. Appearances are deceiving though for two reasons: a) I experienced negative growth in my interest over savings, and b) I have been really active as regards to sowing the seeds for scaling up the fund as well as earning activities I will be collecting money from in the short term such as cashback, bank switching promotions and credit card offers. I will explain and document my progress in future posts.
I was rubbing my eyes and had to double check a £45 earning in interests from savings last month. The flip side came this month as I experienced a correction pushing me down £31 into the red. It did not come as a surprise in all fairness. Ups and downs are to be expected. In the medium term, it is a strong plus mark since I have accrued £92 in interest earnings from the beginning of the year. If I was to exclude interest, I managed to collect £78 in hard cold cash. Just £6 shy from my monthly target. Not my biggest feat but something I am happy enough with. In any event, I have a feeling that I am not going to lose any sleep over this.
Moving on into the bank rewards and interest department, I have to state that the direct debit reshuffling has left me slightly frustrated. This is the third month on the bounce that I am missing on rewards through no fault of my own. I will be missing £11 in ‘passive income’, £8 from Barclays and £3 from RBS. I believed that my set up was bullet proof but I was obviously wrong. Contrary to my expectations, two direct debits did not come through (again). Just not good enough. I still collected £7. I have swallowed bitter pills than this one.
I collected £2.30 cashback from a casual purchase. It was paid within a week of the transaction being tracked which to me, has been the fastest on record. I wish all of them were that quick to mature.
In the freebies department, I was awarded a Free Bet from Betfair. Now let me point out the fact that I am not a gambler, I do not gamble and I have nothing against or in favour of gambling. I think that I need to clarify that these freebies are the remnants of my Matched Betting days. To cut it short, let’s just say that I have a number of dormant gambling accounts and every so often, I receive the odd email offering a Free Bet to ‘hook’ me back in. Needless to say that I use the free bet and I do not risk a penny of my own money. If I am in luck and win using free bet, that qualifies as free money which will get transferred straight into the Pot. If I don’t, well, I will not pull my hair over it. In summary, my £5 bet in a tennis match market produced a winner and a ‘massive’ £4 profit. Happy with that I guess.
Healthy decluttering sales. I am just surprised at the time it took for the XBOX 360 to sell. I honestly thought that it was a good bundle and that it was priced competitively. Nevertheless, it was listed on eBay for four months before it finally shifted leaving a £44 profit behind. A couple of small sales added £2 each, and a bundle of worn-out tennis balls I gather every so often piggy banked another £17. A total of £65 is not bad but I am sure I can do better.
Three quarters of the year are gone and I am £2,452 Free Money better-off. Reaching £3,000 by 2022 seems like a high mountain to climb at this moment. Mind due I am the kind of person who is not afraid of a challenge. I am going to try my hardest. You just need to stay with me to find out.