Several months ago I put myself on the waiting list for a new app called Bumped that paid its shopping bonuses in the form of stock of the company you were shopping with. To me, it seemed like the ultimate customer retention play and I gladly waiting for my invite to join. It came last week and I was asked to chose places I like to shop by category and to pick one in each.
The categories are listed below and if I’ve chosen, the company I’m now earning stock in:
- Warehouse Club = Sam’s at 1%
- Coffee = Starbucks at 2%
- Convenience Stores/Gas = .5% at BP, Chevron, Exxon or Shell?
- Entertainment = 2% at AMC, Cinemark, Fandango, Netflix or Spotify?
- Family Dining= 2% at Chilis, Olive Garden, Outback, or Red Robin?
- Grocery = 0.5% at Kroger. My $487 gift card earned me $2.44 in Kroger stock.
- Quick Eats =3% at Burger King, Chipotle, Jamba, McDonalds, or Subway.
- Ride Share=1% at Uber or Lyft
- Vineyards=1% at Willamette Valley.
To me, this seems like a no-brainer app to link your cards to. We all need Coffee, gas, dining, quick dining and rideshare on our way to Kroger family stores to buy gift cards. I attempting humor here, but if these companies are going to give us stock for buying their products that we use by habit on a day to day basis, why would we not take advantage of the opportunity?
My earnings
So I earned $2.44 extra on my gift card purchase. Big deal!!! One-time purchase I agree, but we shop every week of the year. Sometimes just groceries, sometimes a gift card falls in the cart. Same with gas and dining and rideshare and coffee.
As I watched the SoFi accounts play out and get signed up for, I was shocked that very very few people took advantage of the SoFi Invest account. Everybody loved the Money they can spend today, but very few looked to the future growth of stocks and getting started for free?
Think ahead
I have a rather large stock portfolio after some lucky events and frugality in my lifetime. I picked up the Vanguard ETF VOO for free. It pays dividends, increases in value and allows for dividend reinvestment. One of my grandkids someday is gonna own VOO and, if I regularly contribute a few bucks to the account, it will have a meaningful balance down the road.
VOO is up from $198 per share in 2017 to $283 per share now. It follows the S&P 500 and sure beats that 2% savings account we’ve got.
Final thoughts
OK. Off my soapbox, but think about the small incremental improvements you can make in your life with some of the deals being placed in front of us.
Do I care about $2.44 here and $0.08 cents a day from Starbucks and .15 cents of BP stock with every fill-up or $0.24 cents every time at Mickey D’s?
If I’m almost 70 and thinking about it for my grandkids, maybe you younger guys and gals should think about it for yourselves or your children.
Here’s a Bumped referral to move you up the waiting list quicker: (no referral) See if it works for you long term.
And look again for your long term future at SoFi Invest now offering $100 in FREE STOCK when you open an account with $1000. That’s a 10% return your first year. Nice Start. (I get a referral here)
Same old salesman Rick, yawn.
What gift card have you bought at Kroger?
If the companies in bold are the ones you’ve chosen to receive stock in, good luck with Sam’s. They are a division of WMT. You can’t buy stock in Sam’s.
But maybe I’m reading it wrong?
The stock issued will be in WMT. Just like my numerous purchases at Harris Teeter are in Kroger stock
Visa $20-$500
You up for the job?
Ricki, you need to take a closer look at the questions for an invest account;
“I’d like to add a trusted contact to this account. (This is recommended to protect senior citizens and vulnerable adults, and shouldn’t be confused with opening a joint account.)”
If you are nearing 70 you are a senior citizen and they might think you are an old fool. Some of these young jelly beans wouldn’t accept Warren Buffet. He is uncool.
Also, if you need the money from money quick for a good deal in your main stock account, their daily withdrawal limits range from $150 to maybe $3000.
Sofi isn’t a good deal at all except for a quick in and out to get the bonus.
Thanks Jean Paul. I’m just using SoFi as a secondary account
I was in Georgia this week and stopped at a Kroger for the first time. Wish I had one here in my area of Fl. Able to buy $1500 at the checkout counter with no supervisor override. So much faster than Winn Dixie without the scrutiny.
A few weeks ago I had it out with a WD supervisor who said cash only for the gc. In the past I just politely declined and walked. This time I confronted her and called her a rogue. I said that is not WD policy and asked for the manager. He sided with me and I bought gc and left. Good feeling!
I think Ariana is rubbing off on me.
Best thing you can do for your grandkids is not give them anything. Our 8 figure portfolio will all go to charity and everyone is aware of it. Make the kids learn it’s talent and effort that gets them ahead, not just because they are related to wealth (or else you’ll end up with a world full of scumbags like the Trump family)
Thanks Ron, My Dad was the first to have any financial legacy in our history and he gave always to charity. When my mom passed, I gave most to my kids to pay off student loans and try to buy a home in Australia. I appreciate your advice. My kids have seen the silver spoons, but don’t have one themselves.
Do purchases at PnS or Copps count as Kroger purchases?
Hello Rick I,
We haven’t heard from you in a while! Thought maybe you got slaughtered on the AA mailers? I think I may have dodged a bullet as I was unable to get any mailers.
Has anyone heard from rick??
He is doing limited posting back at frugaltravelguyDOTcom
Hoping to bring him back soon!