About Finance Punk Blog
This blog is about maximizing financial position and finding creative ways to reach any financial and lifestyle goals. From saving money for retirement, to financing a house, to traveling the world, all the way to achieving financial independence and retiring early, our daily posts will give you the insight into how to make all of that possible.
There were two main events that spurred my interest in financial optimization.
As is offered to every student before entering their freshman year, I was offered federal financial aid. Fortunately, my parents were very supportive of education and paying for college didn’t require me to take out these loans. So, I took out some loans. Why in the world would I put myself into debt when I didn’t have to? An opportunity to make money. Subsidized loans do not accrue any interest until 6 months after graduation. This means four years of interest free money! I proceeded to take that money and invest it each semester. I only qualified for a couple thousand dollars in these loans a year but that still added up to a nice $2k profit for leaving some money sitting in an account for four years.
Junior year of college I came across an article about someone who had accumulated so many credit card rewards, their family is able to travel for free, for life. These millions of rewards points were accumulated from buying novelty coins from the U.S. Mint with a credit card. This guy was buying cash equivalents with a credit card, receiving some percentage in rewards, and then paying that credit card off with the same cash equivalent (this is referred to as manufactured spend in this community). These type of loopholes always interested me. Particularly interesting to me, as a college student with limited income, meeting thousands of dollars a month in spend was now possible. In other words, unlimited credit card signup bonuses.
About Me, 3ish Years Later:
Along with my day job, I open dozens of credit cards a year and maximize interest free/low interest debt by investing it… and I travel all over the world for next to nothing and collect tens of thousands of dollars in rewards and investment income from large banks.
I hope you get great ideas and information from this website and are inspired and enabled to reach your financial goals.
I hope you will ask questions about responsible investments, financing, and credit card use.
I hope you will take the more risky ventures outlined with a grain of salt.
About Where to Start
Start with these posts:
- Basic Knowledge – Credit Score
- For every $10 you spend, I spend less than $9 – Here’s how
- This post outlines the main strategies I use for maximizing rewards and cash back
- Bank specific information posts:
Start with these forums and blogs that I read daily:
- Reddit/r/Churning – Churning refers to applying for, getting the bonus, cancelling, reapplying for, getting the bonus, canceling a credit card, rinse and repeat. /r/churning encompasses much more than that though and is a great place to ask questions and learn from other’s data relating to maximizing credit card and bank awards. I regularly contribute as /u/financepunkblog and /u/financepunk and /u/jsgibson
- Reddit/r/Personalfinance – This is one of reddit.com’s more popular forums and is amazing for learning about savings, emergency funds, retirement accounts, and etc. I occasionally contribute under the user names above.
- Doctor of Credit – DOC and his contributors are the best at informing the world of credit card, bank, and related bonuses as they happen