using paypal to earn some interest on $ instead of spending it all (I hope)
Posted 01-15-2008 at 12:02:40 AM by nmeadows0101
we have a few debts that need to be taken care of and the easiest is when we get out taxes back.
However, I am planning on putting over 50% in money market and let it draw at 4.64% . I am hope to earn some $ instead of spending it all on debts which is so easy to do but t.d.jakes was talking about this and he is right-
we get a big lump sum of money and we pay bills or something and bam! there they are again and we are right back at square one again.
So I am going to put some back and use it as I need to while it is making money for us. I am hoping this works because I am sick or being sick and tried.
However, I am planning on putting over 50% in money market and let it draw at 4.64% . I am hope to earn some $ instead of spending it all on debts which is so easy to do but t.d.jakes was talking about this and he is right-
we get a big lump sum of money and we pay bills or something and bam! there they are again and we are right back at square one again.
So I am going to put some back and use it as I need to while it is making money for us. I am hoping this works because I am sick or being sick and tried.
Total Comments 7
Comments
 |  just for a example -- lets say we put in 700.00 at 4.64% that is $32.48 a mo. interest ! I want to try to look at it like using coupons if I can but it is saving money too. that mo. total would be 732.48! then if you don't add anything just do 4.64% of 732.48 and you have more $. If you add $ before the end of the next mo then it will be more or if you take it away it would be less. |
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| |  that is exactly what I do...I use my paypal as part of my annual budget...but on the plus side, I have it set up as a money market account so I am earning interest on it as well.!!! |
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| | Do you guys sell on ebay at all? I use the money I make on ebay to coupon with. |
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| | I have not sold on ebay in yrs! I don't have time for it any more with me going to school full-time and 2 kids, hb and working p/t ( 10 hrs or so wk) there is no way I could do that. |
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| | How do you use paypal as a savings account to earn interest? Is there a fee? I have an account for ebay is it the same? |
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| | you use the same paypal account, you just need to set it up as a money market account. I am just starting to sell on ebay in the past month...but have already made money and all that just goes back into my budget |
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| | do you put in there a certain amount to spend ? (that is exactly what I do...I use my paypal as part of my annual budget) I've been just putting in the amount saved. I had stopped but now I am doing again and this time I am planning on sticking to it. I am shocked at the amount of $ we can save. and it drawls some interest , which is always helpful. |
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