I found a cheat code in savings accounts.
I put 0.2 USD in a 5% savings account. That’s 1 cent a year, just a fraction of a cent each month. But the system has to pay every month, and it can’t handle fractions, so it gifts you a whole cent. Every month.
I put in 20 cents and I make 12 cents a year. That’s 60% annually.
While other investors struggle with a 4% savings rate or a 10% return from an index fund, I get 60%.
So I don’t save. I multiply. One account, 0.2 USD. Then another. Then another. A hundred tiny accounts, each drip-feeding me a cent a month.
Thanks to the banks’ broken math, they are a tool for me to get to the tippity top.
I probably made 20 USD over the last 3 years in passive income.
I found a way to make 60% return on investment
byu/AndrewUnicorn inFrugal
Posted by AndrewUnicorn
16 Comments
> I probably made 20 USD over the last 3 years in passive income.
That’s like a quality hamburger
Wow, twenty bucks.
Edited: 60% ROI sounds great, catchy headline, but means a lot less when the buy in is capped at $0.02
I was waiting for a “Bazinga” at the end
Lol
The amount of effort to make $20.
Is there a jerk sub? If not, there should be
It is the frugal sub. 20 dollars is 20 dollars
my favorite type of shitpost
I’d honestly do this just for fun if it wouldn’t tank my credit score
Haha, this is pure genius-level petty finance. Microbanking hustle. Sure, the returns are tiny in absolute terms, but 60% sounds way sexier than it actually is. Next step: automate 1,000 accounts and become a micro-millionaire… eventually.
Why stop at investing only 20 cents? A 12 cent investment would get you 100% returns. At 1 cent you’re at a whopping 1200% But I guess it’s best not to get greedy.
😂 before anyone decides they are going to go open thousands of accounts at their bank. I assure you that you will not succeed and you will likely be added to some bank fraud watch list.
That is funny.
Totally unrelated but my husband rode the Building Society carpet bagging train in the UK decades ago. Someone from the UK might understand what that means. He made quite a tidy little sum. He also purchased a bunch of domain names back in the day then sold them for a reasonable sum when companies came calling. He was never unreasonable so nothing ever reached court etc. He also played the credit card points, cash bonus game pretty well back when that was a thing. Stuff like that adds up.
OPs thing is funny though
“Hi, yeah I’d like to open 200,000 accounts please”.
Isn’t this the plot to Superman 3 and office space?
I am suddenly very interested in marrying you
Don’t sign up for paperless billing and have endless paper to burn to heat your house this winter. L