Wednesday, November 23, 2016

100,000 Membership Rewards points from the AMEX Platinum card - It's back!

EDIT: Offer is dead, lasted 6 hours 
My friend just let me know that the American Express Platinum card is now offering a huge sign up bonus of 100,000 Membership Rewards points after spending $3,000 in 3 months.  The normal sign up bonus is only 40,000 points so this bonus is huge.  

While this card has a hefty $450 annual fee not waived the first year, there are a few nice benefits that help to offset the annual fee.  With the Platinum card you get free lounge access, Hilton Gold status, Starwood Preferred Guest Gold status, $200 yearly airline fee credit, and extra benefits such as Global Entry or TSA Precheck credit.     

If you select United Airlines for your Airline Fee Credit, then download the United MPX app for your phone, you can purchase a $200 gift card and then get a $200 statement credit on your account.  The Airline Fee Credit gets renewed each calendar year.  If you keep this card for one year, then the $450 annual fee can be offset with $400 worth of gift cards airline fee credits.  Edit: Amazon gift cards via the United MPX app NO longer trigger the statement credit.  AMEX stopped this.

American Express has upgraded the card benefits by adding 5x points on flights booked directly with airlines or with AMEX Travel, 2x points on trips booked through AMEX, and 1 point per dollar spent on everything else.  

You can apply for the AMEX Platinum card here.  Note: the link works if you open "incognito" mode on your web browser.  This offer comes around once in a while and it doesn't usually last long!  Read more discussion about this card in the Reddit thread here.  

Note #2: Do NOT under any circumstances do any manufactured spending such as buying gift cards with your new Platinum card. American Express may and can freeze your points balance.  See this Flyertalk discussion for more details.

Thursday, November 17, 2016

Your lifestyle has already been designed, but it doesn’t need to be permanent

I recently read an old blog post on, a great blog I recently discovered that focuses on life hacking.  It’s a great post that has resonated with me titled: “Your Lifestyle Has Already Been Designed.”  The author David Cain writes about how corporations have helped to sustain a culture of consumerism, aided largely in part because of the 40-hour workweek. 

For as long as people have been employed in modern jobs, it has always been accepted that 40 hours a week is the standard.  Even with all the advances in modern science, technology, robotics, and software, the corporations still demand that employees put in 40 hours of work each week.  This leads to having less time to do the things we really want to do, and less time to spend with the people that we love.  David Cain at writes: “under these working conditions people have to build a life in the evenings and on weekends.  This arrangement makes us naturally more inclined to spend heavily on entertainment and conveniences because our free time is so scarce.”

Think about it.  For those working 40+ hours a week, what do they often do in their free time?   If your commute to work is over 30 minutes each way, how do you have time to cook food, exercise, entertain yourself and spend quality time with your family / friends when you get off work?  With free time being so limited, many people end up spending money to make themselves feel better and to make their lives easier.  People eat out instead of cooking healthy food at home.  People buy expensive cars to show off how successful they are.  People buy things to make themselves feel better, then let all this extra junk accumulate in their basement, garage, or public storage locker.  I’ve written before about how 75-80% of our neighbors have so much junk in their garage that they have to park their cars on the driveway or street. 

David writes that the 8-hour workday is too profitable for big business, not because of the amount of work people get done in eight hours but because it makes for such a purchase-happy public.  Keeping free time scarce means people pay a lot more for convenience, gratification, and any other relief they can buy.  It keeps them watching television, and its commercials.  It keeps them unambitious outside of work.  We’ve been led into a culture that has been engineered to leave us tired, hungry for indulgence willing to pay a lot for convenience and entertainment, and most importantly, vaguely dissatisfied with our lives so that we continue wanting things we don’t have.  We buy so much because it always seems like something is still missing.”  Such a true statement; and I see it everyday with my colleagues and friends.  Almost every one of my coworkers eats out for lunch daily – spending money on food and adding extra miles to their vehicles and extra weight to their bodies.  Eating out daily is unhealthy both for your physical self and also for your bank account balance.  Doctors at my hospital complain about not getting paid enough when many of them are making over 300K a year.  The doctors-only parking lot is filled with Teslas, Maseratis, Porsches, BMWs, Mercedes Benz, Audis and other luxury cars.

The 40-hour workweek is almost unavoidable in many careers.  For many employed jobs, either you work 40 hours a week or you don’t work at all.  If you don’t work a minimum amount of hours, you may lose access to company-sponsored health care, retirement plans (401K, 403B), paid time off, and more.  Most people have the same routine: wake up, get ready for work, commute to work, spend 8-9 hours in the office, commute from work, get home, eat, relax for a few hours, and then get ready for bed.  Repeat every weekday for 30+ years and then hope to have enough to retire someday.      

The 40-hour workweek is exhausting.  But it is the lifestyle that has been designed for many of us.  While conveniences and money spent towards travel and experiences can definitely be fulfilling, there needs to be a balance between saving and spending.  Saving aggressively towards financial freedom is best way to get out of the 40-hour workweek.  Otherwise you will be trapped in this vicious cycle of living life only in the evenings, weekends, and the occasional vacation – until you can no longer physically work.      

We are both working hard towards financial freedom right now.  We are saving and investing at least 50% of our income, and trying to have fun along the way.  We’ve made big advancements in our careers, yet we still have a long way to go.  A few years ago I made partner in my group, which has given me a few freedom benefits such as a 35-hour workweek and 7 weeks paid time off.  I’m looking to reduce my workweek to 4 days within the next 5 years.  My wife is hoping for an opportunity to work remotely from home.  While we both have a commute less than 15 minutes, we still feel like there isn’t enough time in each day. 

While we are stuck in this designed workweek and workday, I’m thankful that we have both found careers that are valuable and fulfilling.  Has your lifestyle been designed already?

Tuesday, November 1, 2016

October side hustles 2016

The great thing about doing side hustles to generate extra income is that you can hustle on your own terms.  The more hard work, time, and creative effort you put in, the more extra money you can make.  You can hustle as little or as much as you want, whenever you want.  It’s your extra money, and you can choose how you want to spend it.  Instead of focusing on what ideas don’t apply to you, try focusing on different side hustle ideas that you can implement to work for your situation.

Welcome to November, a brand new month.  I love this time of the year.  The weather starts getting much cooler.  Thanksgiving and Christmas always brings our friends and family together.  Paid time off for the holidays is much appreciated too.

Did everyone have a good October and Halloween?  We stayed in this Halloween since our son has been sick and not feeling well.  Also the costume we got for our son ended up being too big.  October has been a big month for our son since he’s finally getting good at walking and is now trying to talk more.  Our son has also been sleeping very well lately and my wife and I have been able to get a lot more restful sleep.  It’s great. 

Here’s our monthly summary of side income that we have generated in the previous month of October.
Award Travel
On 10.17, I transferred 36,000 Chase Ultimate Rewards points into my Southwest Rapid Rewards program to book 2 free round trip flights to Portland for Christmas.  This saved us $597.92 in flight costs.

Cash back
On 10.1, I received a PayPal deposit of $104.93 from Mr. Rebates, my favorite cash back site.

Paid surveys
On 10.11, I received a $15 check from E Rewards Medical for a survey I completed.
On 10.12, I received $3 PayPal deposit from Pinecone Research
On 10.20, I received $3 PayPal deposit from Pinecone Research

Side Job
On 10.30, I received a check for $137.50 for teaching at the local university
On 10.3, I received a check for $137.50 for teaching at the local university.  I really enjoy teaching and working with the students.

Rental Income
On 10.1, I received a check for $700 from our temporary housemate.  With utility costs going up, it was time to increase the rent by $100.
On 10.4, we received a net profit of $430 from our rental property.

Miscellaneous Income
On 10.3, I received a check for $5.56 from AT&T Wireless for a settlement from a class action lawsuit.
On 10.6, my wife received a direct deposit of $11.75 from Amazon Marketplace for selling some items.
On 10.16, I received $20 statement credit from AT&T Wireless for getting a new phone activation fee waived. 

Monthly Totals:
We saved $597.92 towards award travel
We earned $104.93 cash back
I earned $21 from paid surveys
I earned $275 for teaching at the local university
We earned $1,130 from rental income
We earned $37.31 miscellaneous income

All of this totals $2,166.16 from our side hustles for the month of October.   Not a bad haul for the month!  Are you doing any hustling?
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