January 2020 was pretty mild as I did not make any major purchases, hence earning reward points was limited. However I did manage to score a couple of small but good ones.
Get rewarded for Insurance purchases
I did!!! American Express is running a campaign for Insurance payments where you get 10 points per Rs.100 spent on Insurance payments. I did not have any insurances to pay for the month. Know what I did?
Checked with my friends and relatives if anyone had to pay theirs? I found someone who needed to. I ended up making 500 points off it.
Small savings make a big difference
Here is a screenshot from my Amazon account. Small cashbacks and rewards you collect for your day-to-day expenses, grocery purchases, mobile top-ups will at the end of the year make a big difference.
In 2019 alone, I made over Rs.26,000 from Amazon as cashbacks and rewards. Rs.22,000 in my account, another Rs.4,000 in my wife’s.
My Overall Points, Cashbacks and Rewards
My Cashbacks and Rewards as of January’20:
All of these are in Rupees. I have used the most conservative (well below market) values to convert points and miles to Rupees.
Available Balance – Points, Rewards and cashbacks
Redeemed Cashbacks and Rewards as of January’20:
This is as much a Passive Income as any other area. Think about it, if not for the cashbacks and points I used up, I would have spent actual cash. Thanks to the rewards and cashbacks, I could save actual cash and still buy day to day products.
All updates for the month of December’19:
- My Investment Updates for January’20 – Tax Season
- Stock Investment Updates Jan’20 – The Bloodbath continues
- Mutual Fund Investments Update – January’20 – Mutual Funds on FIRE!
- My Alternate Investments Update – January’20
- Earning Reward Points & Cashbacks update – January’20 <–You are here
- P2P lending updates – January’20 Cautious when lending