Every one (but me) who talks about FIRE, Financial Independence and Retire Early, miss this one stream of income! It is a very important one and it is always raining cash in cashback land. It is so important, that I made over 1.3 lakhs from this in 2019 alone!
Why I say it’s raining cash – Dec’19 updates
It is only after I started tracking to write and report to you my passive income, I realized how much I made in 2019. It took me a couple of hours to manually collate the respective programs, cashbacks and miles which I have spent in the past in 2019. But it was an eye opener.
I have earned and spent a total of Rs.98,155 in 2019 in the form of rewards, cashbacks and points! 🤑 Now, that is 1 full month’s salary for me. Think about it, by planning and timing my purchases, keeping an eye out for deals, I was able to get one full month’s salary more than you!
In the coming weeks, I shall write about the different programs and how you could also benefit from them and follow me in adding cashbacks and rewards as a serious stream of passive income to retire early. If you are smart, this can be a really great way to continue with your current lifestyle, and save up hard earned money for your retirement.
This is my second month tracking these and there are still a few loopholes to iron out. I have made one major change in the way I am going to report my cashbacks and rewards to you.
Earlier, I only showed how much I had in hand. So when I earned a cashback of Rs.300, and used up Rs.100, I could only show you I had Rs.200. My hard earned cashback never got reported correctly. So going forward, I will be showing this in two sections. 1.) Cashbacks and rewards in hand 2.) Cashbacks and rewards that I have used up.
Now for tracking purposes and towards my 5-to-5-in-12 goal, I will only consider the cashbacks and rewards in hand in my portfolio. However it is interesting to see the amount of money I have made which has offset my expenses and allowed me to live a more luxurious life on a lesser cost.
My Cashbacks and Rewards as of December’19:
All of these are in Rupees. I have used the most conservative (well below market) values to convert points and miles to Rupees.
|American Express Points||3879.54||4824.54||6491.52|
|Flipkart Supercoins & Vouchers||1250||1270||2764|
|Hotels & Stay points||2593||2593||2593|
|Other points programs||700||700||700|
|Paytm Cashbacks & Balance||0||205||3745.12|
|Amazon Pay Card+Cashbacks||2870||3912||2113|
All updates for the month of December’19:
- My Investment Updates for December’19 – Year of Passive Income
- Blood bath on Dalal Street👺- My Stock Investment for December’19
- A ‘Meh’ month for Funds – My Investment in Mutual Funds for December’19
- My Alternate Investments Update – December’19
- It’s raining cash! My Cashbacks and Rewards update – December’19 <–You are here
- Make money by lending – My P2P Lending Update – December’19