Finding an extra $25.00 in your wallet

Free money is like a birthday present
As the $25.00 Investor I have budgeted some from each paycheck to invest.  This way it happens regularly allowing me to take advantage of dollar cost averaging.

One thing I really like to do is when I have some extra $25.00 is to invest it as well.

What if you found an extra $25.00 in your wallet that you hadn't expected to be there?  Using the Chime prepaid Visa card, this can happen to you.  By using the Chime card, I get free money in my wallet.

How to get started


First, get a  Chime prepaid Visa card using this referral link (so we both get some free money).

Second, setup direct deposit onto the card.  This will avoid any monthly fees.

Third, make sure the round up savings is set up.

Finally, spend.

How it works

Each time you make a purchase, Chime rounds the purchase up to the nearest dollar and puts the extra into the savings account.  For example, if you make a purchase for $2.30, the charge will be for $3.00 with $2.30 going to the store and the 70 cents going into your savings.  It is like spending with cash and putting the coins into a jar at the end of the day.

Then, once a week, they add 10% to the weeks round ups.  In the previous example this means they will put 7 cents into your savings account.  This only happens once per purchase.  This does not sound like much, but it adds up over time.  If you average 50 cents round up per purchase,  then after 50 purchases you would have $25.00 in round up with an additional $2.50 of round up bonus.  That is enough to do an extra investment.

A couple of other things I like

Chime has a nice app that lets you know your spending and savings balances at a glance.  This is very nice to keep my on track budget-wise.

It is very fast and easy to transfer the savings to the spending when you want to invest.

Since it is a prepaid Visa debit card, you can never go over your budget.

As a Visa debit card, it can be used just like a credit card at a retailer or online.

We have been using a cash budget but that is hard for on-line purchases.  This card is a nice balance between a cash budget and a credit card that allows us to budget spending and be able to take advantage of on-line deals.

Conclusion

The Chime prepaid Visa card can be a nice way to find some free money in your wallet as well as keeping you on your budget.


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