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Old 09-06-2006, 02:46 PM
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b4freedom b4freedom is offline
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Default Re: Do you chase bonuses from online savings accounts?

The best rate I could find without a million strings attached was 5.05%. The difference in earnings between 5.05% and 4.25% over 3 months is $10.08. So, the $50 bonus makes it worth it because my earnings is roughly $40.


What is the smallest amount I would be willing to earn to move the $5000 around from acct to acct
to gain bonuses?

I figure out what is worth it based on the time it'll require. It takes 15 minutes to setup an online account. Maybe another 15 minutes to manage it over the next couple of months. So, for maybe ½ hour of work, I'll make an extra ~$40. That's worth it. If I figured that it was going to take hours and pay $10, I wouldn't do it. I generally aim for at least making $20/hour for my work. Ideally I'd like to make around $85/hour.
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