With the 4th edition of Dungeons and Dragons around the corner many of us gamers will be purchasing this new edition when it comes out. I know I will and I am glad I have a Paypal account that is set up as a money market also.
I came up with this plan because I will be spending my money on the new products. Only I want to do it in a cost effective way and I would like to earn some money along the way.
Paypals money market account is easy to set up just say yes to that option as a member of Paypal. PayPal Money Market; 30 day yield 4.70%; Min Invest None; Web address paypal.com; Phone number 402-935-7733. The 30 day yield means you will get paid this interest every 30 days.
I have decide to put $35 dollars in my Paypal money market every time I get paid because that is the estimated price of new books. After 30 days I earn $1.65 ( 35 X 4.70% = 1.645 + 35 = 36.65). Now I get paid bi-weekly so $70 dollars a month x 4.70% = 3.29 + 70 = 73.29. The other great thing, is compounded interest so $70 + $73.29 = $143.29 x 4.70% = $6.73 + 143.29 = $150.02. By May you should have earned $57.54 in interest that equals about 1 1/2 books.
Imagine what you could do if you just kept on going build it up to $900 x 4.70% = 42.30 thats a book a month basically for free.
You could do this with new video game releases or systems you could keep on growing that money market and pay for just about anything with the interest earned.
The downside is that you do have to pay taxes because on the interest you earn because it is consider income.
Give it a try and let me know what you thing.