Money Blue Book

For those of you who are fortunate to have a stable job and blessed with being gainfully employed, congratulations and more power to you. For those of you who are currently unemployed or out of a job, I feel your frustration. I’ve been there before and know how scary and uncertain the experience can be.

In this fluctuating and unpredictable economy, you never quite know what is lurking around the corner. Life comes at us fast and sometimes job stability, occupational predictability, and all positive aspects of full time employment can disappear in a flash. Sometimes it can be due to our own fallibility and less than perfect work performance, and sometimes it can be due to slowdowns in the economy at large. Life is unpredictable and it’s hard to be certain whether there is such a field that’s a sure thing anymore. During the past few years, jobs and careers related to the real estate and housing market were hot and in great demand. However, years later, with the collapse of the housing bubble, many of the jobs previously fueled by the burgeoning real estate market have mostly disappeared. Even upper echelon MBA-type financial positions at top firms like Merrill Lynch have been down sized and trimmed back, resulting in many educated employees suddenly out of work.

If you find yourself one of many who have been laid off, I feel for you. I’ve been through a sudden job lay off before and it’s not an easy feeling or experience to go through. Not only does it put you in a sudden cash flow crunch, but it forces you to scramble around in desperation to find employment quickly. For those who have a wife, husband, or children depending on that income, the extra financial and familial pressures make the process even more urgent. However, it doesn’t have to be the end of the world. There are systems and governmental assistance programs in place to help guide and cushion you during those periodic times of unemployment - namely in the form of unemployment insurance benefits. Don’t let those invaluable financial benefits and entitlements pass you by during times of need - seize them immediately.

Do Not Let Petty Shame Or Guilt Prevent You From Filing For Unemployment Insurance Benefits - It’s Your Money and You Are Entitled To It

I’ve filed for unemployment benefits several times throughout my working career thus far. I will admit, the first time I filed, I felt a tinge of shame and guilt. I felt like it was a hit on my aura of financial independence and a stain on my own sense of masculine pride. As someone who was raised to believe that an important aspect of a man’s duty and responsibility was to provide for himself and his family, it was difficult for me to depend on governmental handouts for the first time. To me, receiving unemployment benefits meant I was now on welfare, and no better than some unmotivated or lazy 40 year old bum who lived in his parent’s basement like some financial leach on society.

However, now that I’ve had experience with being the recipient of unemployment benefits, I now understand what it truly is. To receive unemployment insurance benefits is by no means the same as receiving public welfare. It’s a genuine financial safety net that is subsidized by employers in a socialized manner to help decent working people get back on their feet quickly with as little financial destruction or burden as possible. While unemployment benefits provide free money for times when you’re not working, a fundamental and required tenant is that the recipient actively pursue employment leads while drawing on the temporary financial perks. Being a recipient has no effect on your existing credit score and the mere act of filing has no effect on your future employment prospects. The small amount of compensation provided isn’t sufficient to save or grow rich on, but is just enough to give one a semblance of financial continuity and feeling of self reliance until the person can get back on his or her feet. It helps those who want to help themselves.

Who Pays For The Funds Dispersed For Unemployment Benefits?

Unemployment benefits are provided by a special jointly run fund provided by federal and state payroll taxes called the Unemployment Insurance program. No part of an employee’s actual paycheck goes directly into this unemployment fund (unlike social security) but is instead indirectly funded by employers through a special unemployment insurance tax that they pay. Almost all employers are required to pay unemployment insurance tax to help fund this public service. Unlike worker’s compensation, the employer does not pay unemployment benefits to laid off employees directly, but payments are instead issued by the responsible state agency as needed. Even if an employer goes out of business, unemployment benefits can still be distributed out to the company’s now unemployed workers because funds are socially subsidized by other active employers who pay into this pool of shared funds. When you are out of work for whatever reason, it’s in your own interest to file for unemployment benefits as soon as possible. Even if you refuse to file for it, you should know that you are still indirectly paying for this socialized governmental service.

Remember, there is no shame in taking on this temporary financial safety net as a short term stop gap measure - it was designed for you when you need it the most. The money is rightfully yours because your employer pays into the fund on a mandatory basis. Without its existence, you theoretically would have been given higher pay. If because of pride, you refuse to take this temporary governmental handout, ask yourself this question - will pride put food on the table for your family in the meantime until you can find your next job? Will pride pay for necessary groceries or pay for a roof over your held until you can secure that next job interview? Think about it. Desperate times require desperate measures. I personally view unemployment benefits as part of my emergency fund measures.

As Soon As You Become Unemployed, File For Unemployment Benefits Immediately

The most important thing to know about seeking unemployment benefit compensation is to file as soon as you become either partially or fully unemployed. Even if you suspect you will be able to file a new job relatively soon, it’s still in your best interest to still file for it sooner than later. There is almost always a 1-2 week lag time between filing and when you receive benefits. Frequently, there is also a mandatory one week waiting period during which the first week will not be compensated for. The benefit clock starts when you file so if you wait around to see if a new job is forthcoming, you may miss out on much deserved unemployment entitlements. If you wait several months after becoming unemployed to file, you won’t be able to claim for the non-working months that have already passed. You can only claim for the time that comes after the moment you file, so don’t delay - get credit for every single moment you remain unemployed.

Even if you are confident that you have sufficient pre-existing emergency funds to live off of, it’s better to file and not risk the chance that your emergency funds ultimately run out. You don’t want to look back later down the road only after draining your bank account completely and racking up unpaid credit card bills, and realized that you ought to have filed for unemployment benefits earlier.

Where Do You File For Unemployment Benefits?

Unemployment benefit applications should be filed in the state where the work was performed. Check out this official U.S. Department of Labor List Of State Unemployment Agencies to determine the correct filing location. Most states today allow unemployment benefit applications to be filed via telephone, in person, or through the Internet. If you want to avoid the stigma or emotional embarrassment of filing for this entitlement in person, filing via phone or through the Internet is a great way to circumvent this problem. Not only that, those methods are also quicker ways get your money more expeditiously.

As mentioned, unemployment filings are made with the state unemployment agency in the state jurisdiction where the work was performed. If you lived in New York and worked in New York, you need to file your claim with the state of New York. What about those who lived in one state, but worked in another? In my case when I filed way back when, I lived in the state of Maryland, but worked in Washington D.C. Since I performed my employment in D.C., my place of unemployment benefit filing would be in D.C. since that’s where my employers actively paid their unemployment taxes to. I could still file with the state of Maryland, but would ultimately be referred by the unemployment hotline and managing system to seek benefits from Washington D.C.

Who Is Entitled To File For Unemployment Benefits and How Much Money Can You Expect?

Generally (individual state laws vary), to qualify for unemployment benefits, an applicant must (1) meet state eligibility requirements regarding how long the employee has previously been working and how much money the employee has earned, (2) make continuing and regular application updates to the managing state agency, (3) be continuously available for work and actively seeking work, and (4) not be subject to any disqualifying employment factor.

To be entitled for unemployment benefits, employees must have become unemployed through no fault of their own (although definitions on fault vary by state). Generally those who voluntarily quit their jobs or were discharged from their positions due to willful misconduct can’t qualify. However, if you were laid off due to downsizing or were discharged due to simple lack of work, you will probably be entitled to benefits. Once approved, to continue to draw on your weekly unemployment checks or direct deposits, you will required to submit weekly updates of your employment and income status either by phone or over the Internet. During that time, you are expected to actively look for work. Obviously the benefits will stop as soon as you become gainfully employed again. While it’s somewhat unlikely the state agency will know if you go on vacation during that period of time instead of looking for work, you should also know that by doing so, you are committing fraud and may be required to pay the benefits back along with penalty fees if discovered. I know some people who did decide to take a brief vacation while still drawing on unemployment benefits, managing to stay under the radar, but not everyone will be that fortunate. Big brother government has sneaky ways to track you down.

To file for unemployment benefits with your state agency, you will need to provide your name, mailing address, phone number, social security number, working phone number, and may sometimes be asked to provide recent pay stubs. However, with computerized filings, oftentimes you will only need to provide your former employer’s name and address, without having to provide wage or salary paperwork. Your most recent employer will be automatically contacted by the state unemployment agency to verify the circumstances and reasons of your work discharge or layoff. Their response will help determine whether you exhibit any of the disqualifying factors to receiving unemployment benefits such as you quitting on your own, or getting fired because you were stealing from them.

The amount of your weekly unemployment benefit checks will vary depending on your past income and the maximum limits of your filing jurisdiction. For those who are higher income earners, your weekly checks will be worth more. The maximum payout amount also differs from state to state. Just to give you a very rough ballpark figure of how much you can expect, the maximum payout for the District of Columbia is currently $359 a week, before tax. At about $1,436 a month, this definitely goes a long way to help pay for basic living expenses like rent until you can get back on your employment feet.

Usually there is a total amount of benefits that each specific applicant can draw upon before the entire fund for that benefit year is tapped out. But until that happens, applicants can usually receive benefits for 6 months straight (26 weeks) before depleting their entire emergency unemployment benefit reserves. Keep in mind as well, all unemployment payouts are considered taxable income. There is usually no tax withholding associated with unemployment benefits so you may be required to pay estimated taxes to meet your tax obligations.

Updated List Of The Top 10 Best Work From Home Paid Survey Offers Below

Ever since college, I’ve continuously exposed myself to a wide array of get rich quick schemes and online money making gimmicks. The majority of my hobby-esque efforts have primarily been for entertainment and informational purposes. While many of the online offers that I pursued and researched back then ultimately turned out to be fraudulent scams or fruitless endeavors, a handful of them have proved to be reliable and consistent money making methods over the years. One of the ways I used to make some extra money on the side and still work from home was by getting paid to fill out online surveys. Back when I was a college student, online surveys were an easy way to generate a few dollars here and there for extra cash and gift card rewards. Today, I still get paid to take online surveys but I’ve learned to manage them more efficiently and learned to fill them out substantially quicker than I used to. Nowadays, a 30 minute online paid survey usually only takes me a matter of 5 minutes to scan and rapidly click through.

While I work full time now, I still enjoy the little bits of part time income I generate with these paid online surveys. These survey money making offers are best suited for certain work at home types such as: stay at home moms, college students looking for extra spending cash, or working professionals like myself looking to kill some time and make money doing it. I complete most of my occasional paid online surveys quickly at work between lunch breaks or I knock out a few qualifying offers on my laptop when I’m lounging around at home like a couch potato, watching a football game or during television commercials. Most of the time I redeem the survey completion reward points for either cash or I exchange them for gift cards to frequently visited places like Starbucks or Amazon.com. While taking surveys isn’t exactly the most productive way to spend my time, I liken the practice to the same way that some people might choose to spend their spare time playing video games or enjoying a TV show. None of these habits are particularly productive in the business or financial sense, and they are all performed for purely entertainment purposes. But rather than sitting there passively watching television shows or playing computer games, I prefer to spend my bored time by engaging in hobby type activities that generate a little side income.

What Are Paid Online Surveys, And Why Are The Marketing Research Companies Willing To Pay Consumers Money To Fill Out Survey Questionnaires?

The business aspect of surveys has always been around, but the Internet has revolutionized the way they are now being conducted. It used to be that surveys had to be performed in person through a live focus group exchange or had to be transmitted through the postal service using snail mail means. However, the Internet has changed all that and improved upon the speed and the way market research may now be performed and compiled. While many of the big companies and retailers in the world still perform their own in-house research into the consumption and usage habits of consumers to build and brand their products and services, oftentimes, these companies must solicit the aggregate views of larger sample sizes to better hone their research results and improve upon their brand’s appeal to whatever population demographic they are trying to target. This usually requires that they outsource some research work to third party market research companies that are better equipped to handle mass survey research projects. This is where you and I come in - as ordinary consumers and potential opt-in survey participants.

As ordinary members of the population, we all have different likes and dislikes when it comes to certain products, brands, companies, and services. The online survey companies are out to inquire and gather all this public opinion information to better assess the views and preferences of the American and world population when it comes to such consumerism matters. The product development and service promotion choices and strategies of these billionaire dollar mega corporations depend on the views and whims of their target customers - you and I. Because of this need for public opinion information, market research firms are willing to pay consumers like us a reasonable amount of money to answer some of their market research related questions on a regular basis. It’s not a job interview and it’s most certainly not something anyone has to worry about getting trapped into participating. Even after registering and agreement to be a willing online survey panel participant, you are always free to back out. You can always subsequently ignore the paid survey offers you receive for whatever reason. If you refuse to later take part, the company will just turn to another voluntary opt-in participant in the target sample. Of course, you also won’t get paid for any online surveys you don’t adequately complete.

What Type Of Payment Incentives Do Free Paid Survey Sites Offer, and Is It Possible To Get Rich Filling Out These Internet Surveys?

Usually the paid survey research sites pay you after each completed survey offer. Some firms will issue you a check or PayPal cash deposit for the qualified amount immediately, while others will offer you survey reward points that can be accrued in your accessible online account and later redeemed for cash rewards, gift card prizes, or free merchandise. The gift card and product rewards can be anything from popular Amazon gift cards to various electronic gadgets. Obviously the bigger the merchandise, the more survey points you’ll need to redeem. When a survey offer is proposed to you, sometimes the offer will expressly indicate the proposed payment amount, say $5.00 upon completion, while other times it may indicate that completion will only result in an entry into some prize drawing in the future. Personally, my advice is to avoid all paid survey links that want to reward you with useless sweepstakes drawings. The chances of willing one of those prizes are slim and you are much better off focusing on surveys that reward you with cold hard cash or redeemable reward points upon completion.

One thing to make clear is that no one should expect to make a lot of money or get rich quickly by filling out online surveys. Remember, you’re just taking online surveys - not performing expensive open heart surgery for someone. No one is going to retire from the income they earn or be able to make a full time living from taking online surveys. The survey money you get paid for is meant to be a part time supplement to your existing day job salary. However, if you’re determined to make a lot of money from paid online surveys, it is theoretically possible to make $2,000 or even upwards of $3,000 a year if you register with multiple online survey sites and actively engage in all survey offers that are sent to you. If you are a member of a demographic that is actively targeted by survey companies, you may luck out with more paid survey chances - it all depends what demographic types businesses are interested in knowing more about during their Internet marketing research trials. However, you’ll also have to be a pretty prolific and fast survey census taker to hit the money jackpot. For most people (99.9% of everyone else there), it’s best not to see this as some career, but rather as a way to generate some stress free profits by working from home. Your online paid survey income may help pay for a few expensive family restaurant dinner outings or help subsidize the cost of gifts at Christmas time - but that’s pretty much all you should really expect from doing them.

The payout amount that is offered differs among online survey sites and also differs depending on the difficulty and length of time it takes to complete an individual survey. The most lucrative online surveys can pay as much as $20-50 each, but these usually require a substantial amount of time and effort to complete - be prepared to spend upwards of 1-3 hours for these high payout offers. Oftentimes the highest pay out surveys will require the participant to appear at least once for a live online discussion format where the survey taker will be required to log into an online site and actually engage in a moderated Internet chat discussion with other panel members. Through these online discussion and chat formats, the survey researchers will usually probe and ask direct questions about the opinions and viewpoints of participants in regards to whatever consumer product or service they are researching for.

But in the vast majority of paid online survey cases, payouts will likely be less than a $1 for each completed survey. The lower payout offers usually only take a few minutes to complete but if you are able to fill them out quickly and efficiently, the monetary amounts do add up quickly. Keep in mind that many paid survey companies issue payment in the form of reward points. Your final cash payment or merchandise redemption value will depend on how many high value surveys you ultimately complete.

How Do I Participate and Get Paid Cash For Online Paid Surveys, and What Type Of Questions Do The Paid Survey Sites Ask?

To start receiving free survey opportunities, you’ll need to register yourself with some of the more reputable paid online survey sites. While there are literally thousands of survey companies on the world wide web, I’ve listed the links of the ones I’ve had the best and most reliable experience with below. Remember to examine their individual terms and conditions before registering. Most of the survey site links will require that you submit your name, and basic contact info such as your address, phone number, and email information. Usually they will also request for additional demographic data such as your age, gender, and race. The site registration process will usually also go through a brief introductory questionnaire to figure out what you like, dislike, or have experience with in regards to all aspects of ordinary consumer life. This information is important because it helps the researchers build your survey profile, which is used to determine whether you qualify for particular survey offers or not. Your qualification for certain surveys will always depend on what the Internet marketing research company is looking for at that particular time.

The email address you provide during the application process is particularly important because your provided email address will be the survey sites’ primary method of contacting you about paid survey offers. Be sure to provide an email address that you intend to check regularly and don’t mind receiving extra mail messages on. While most of the legit online opt-in survey sites will never send you unsolicited spam or messages without your authorization, to make money with paid surveys, you’ll inevitably need to agree to receive an influx of regular email offers. Particularly if you register with multiple survey companies, expect to receive more email traffic than you’re used to receiving. Each survey notification email will usually provide a clickable link to the online survey questionnaire, embedded with tracking information to make sure you are ultimately paid for upon completion.

The type of paid survey questions asked will always depend on what the requesting company is looking for, but just about everything under the sun relating to commerce, business, and consumer spending habits will be fair game. You may be asked about your dining habits, culinary preferences, what type of soap you’re using, whether you’re looking to buy a new car, or whether you are currently suffering from any physical medical conditions that necessitate the use of certain prescription medications. I’ve noticed that one particularly high paying survey subject matter is the health related niche. If you have high blood pressure, diabetes, or any other health condition, you will likely be sought after by prescription drug companies looking to get your online survey opinion about various treatment solutions. The frequency and demand of your survey services will really depend on your age group, profession, hobbies, interests, and the particulars of your personal demographics. Usually the surveys are comprised of basic text based online questionnaires, but sometimes you may be asked to watch a new product commercial or a movie trailer, or you may be asked to look at a new restaurant menu plan or magazine print advertisement, and then later instructed to fill out a questionnaire about what you liked or didn’t like. Most of the time it’s just a matter of clicking a quick yes or no, or stating your opinion using a sliding scale.

While not as frequent as email surveys, sometimes you may also be sent free household products and electronic merchandise in the mail for your review and opinion. I’ve been sent everything from shampoo bottles, to snack crackers, to razors, shaving cream, to iPod ear buds, to even a pack of experimental condoms for my use and review. The products are almost always new beta trial products not currently yet in the market place that some company is still working on perfecting or figuring out how to properly advertise. Most of them don’t even have proper product labels on them yet, usually with only a serial number sticker affixed. Receiving product review surveys in the mail is probably my favorite paid survey opportunity. The best part is that you get to keep the products after you fill out and return the survey questionnaires that accompany them. Even if you get lazy and don’t respond by filling out the accompanying product surveys, you still get to keep the free products sent to you. For me, there’s always something terribly exciting about trying out a new retail product that no one has yet seen or used in the marketplace. It’s nice to know that my survey opinion may actually make a difference in shaping how these brands and companies ultimately market and perfect their products.

My advice on improving your paid survey taking strategy is to say yes to everything and express interest for all subject matters - every product, every service - everything. If you are looking to game the survey system and maximize the amount of money you make from online paid surveys, your best bet is to qualify yourself for as many survey criteria as possible. By not expressing any dislike or lack of experience with anything, you greatly increase your survey qualification chances during the profile building process. Keep in mind that certain demographics (such as home owners) tend to get lots of extra survey opportunities that others don’t qualify for. There are a lot of home owner type surveys regarding home improvement appliances that only those that represented themselves out to be owners of a house or condo will qualify for. (Hint-Hint. Wink-Wink)

How Do I Find The Legitimate Paid Online Survey Websites and Avoid Falling For An Online Survey Scam?

As I mentioned earlier, there are literally thousands of paid online survey sites and services out there. However, the vast majority tend to be scam and disreputable sites that either have questionable membership fee policies or simply don’t have sufficient survey business in their pipeline to make registering with them worth your time as the consumer. The ones that are legitimate and trustworthy tend to be established market research firms that have been around for a long time, and have built up solid track records of providing reliable payouts to survey participants along with providing steady and guaranteed streams of paid survey work for registrants.

There are plenty of free paid survey links and services on the web. There is never a need to resort to paying anyone or any online company for the right to use their database list of survey offers. While certain disreputable sites will attempt to sucker you in by advertising that they offer the highest payouts for surveys and that access to their exclusive list will be worth the membership fee you pay upfront, the fact of the matter is that most of these lists are absolutely useless. There is no reason for you to pay the survey research company the right to take their online surveys. Remember, they are supposed to pay you to take their Internet surveys, not the other way around. Don’t fall for any of these membership fee survey scams. If they ask for a membership charge or a registration fee upfront, run the other way.

As for those who are worried about getting their email accounts spammed to death, remember that reputable online paid survey companies do not spam or send unsolicited messages. Most will only send you survey notification email reminders upon your request. Should you ever find the influx of survey offers too overwhelming, as I have a few times before in the past, you can simply log onto your online survey account and unsubscribe temporarily, or even permanently.

To recap, remember, to fully maximize your paid survey opportunities and make money with paid surveys, you ought to register with as many reputable online survey companies as possible. You can always turn off email notifications or unsubscribe thereafter but by applying, you open yourself up to paid survey chances. To increase your survey qualification opportunities, you should express interest in everything and check your email routinely for daily and weekly survey offers. Upon receiving one, you should complete the paid online survey as soon as possible assuming you have the time to do so. Don’t put off any high value survey offers for later because the highest paying surveys tend to expire quickly after a certain number of participants have been selected. Also, you should avoid all survey offers that only provide you a sweepstakes entry or prize drawing ticket for survey completion. Stick with only cash and reward point survey offers.

Reviews Of The Best Sites To Make Money Online With Paid Surveys, Based On My Experience (All Are Free To Join):

1) NFO My Survey - Of all the top paid online survey companies out there, the National Family Opinion MySurvey site is probably my favorite one. Their website is easily accessible and their survey payouts are pretty good. They’ve provided me a steady stream of paid survey opportunities regularly on a wide array of interesting topics for some time now. My Survey is one of the best and biggest online research companies on the Internet. The company uses a point system for survey completion rewards and issues payout when you’ve reached the point equivalent of $10. Points can be redeemed for a variety of options from cash to gift cards, and you can even earn extra points for referring friends. I’ve also received household cleaning supplies and various food products (e.g. experimental potato chips), from them before for product panel related reviews. The proven company is great at keeping its survey takers busy and earning paid survey income.

2) Survey Savvy - Survey Savvy is definitely one of my best paid survey sites and a pretty highly promoted program by most people due to its nice recurring direct and indirect referral program. Not only can you earn the usual payout for your own completed surveys, you can also earn $2.00 for every survey your direct referral takes and yet another $1.00 for every survey taken by their referrals. The trickle down referral system makes it one of the best paid survey choices to make money and get paid, particularly if you refer many of your friends and family members. Survey offer frequency is average but payout is quite good. Of course, coupled with the referral system, your Survey Savvy paid income will probably end up being quite lucrative.

3) Greenfield Online - Greenfield Online, which acquired Go-Zing, offers survey participants cash or an entry in their reward sweepstakes for completed survey offers. Survey registrants are advised to bypass all survey offers that provide only prize drawing entries and go only for those that provide actual cash money for survey qualification and completion. Greenfield Online keeps its participants very busy with plenty of paid survey opportunities, but keep in mind, participants may not always qualify for all survey offers depending on their demographic details.

4) Synovate - The Synovate Global Opinion Panel pays cash for completed surveys. The company sends out a reasonable number of regular paid surveys and survey payout is decent and comparable to that offered by other online research firms. Once in a while I get a few nice and long $10 surveys from Synovate. I’ve also received a few products from them for review before - mostly soap and shower products.

5) Lightspeed Consumer Panel - The Lightspeed consumer survey company rewards you with points for completed surveys and product reviews that can be later exchanged for cash, gift certificates and other prizes. Lightspeed is pretty active in sending out surveys and it’s easy to rack up reward points quickly based on my recent experience with the company. The survey payouts are a bit lower than I would like but the lower pay rate is made up by the extra high frequency at which they send out potential offers. Most of their paid surveys are easy to fill out and for experienced survey takers, they’re a piece of cake to rapidly complete. Just click like crazy.

6) American Consumer Opinion Panel - The American Consumer Opinion Panel, or ACOP as it’s commonly called, is a paid survey favorite of mine due to the rapid speed at which the company issues out compensation checks for completed surveys. ACOP issues checks for completed surveys that range anywhere from $4 to $20 depending on the length, qualification requirements, and nature of the survey. Online focus group surveys almost always pay much more - between $25 and $50, but those types of offers are infrequent and more difficult to qualify for.

7) Ipsos I Say - Despite its semi-weird name, Ipsos is one of the major marketing research firms in the world. In my opinion, the best benefit and lure of this online survey company is the chance to receive product reviews as many of its regular text based online surveys tend to only offer prize drawing related payouts. Ipsos is a nice paid survey company to register with if you’re interested in occasionally receiving freebies and test products to review.

8) Global Test Market - The Global Test Market company offers Market Points for competed surveys and sends out survey opportunities quite frequently for both American and international survey registrants. While the cash out level of the reward point equivalent of $50 is higher than that required by other paid survey providers, they make up for it by sending participants a lot of paid survey chances with respectable payouts. Even if you don’t qualify for an offer that is sent to you, you still get to earn some points for merely looking at it. Most of their surveys are not too long, and are varied enough to not bore you to tears as you click away at the check boxes.

9) My Points - This company is not really a dedicated paid survey company but it does offer paid surveys as part of its reward earning program. MyPoints offers a wealth of ways to earn reward points for future prize and merchandise redemption. You can earn them by completing surveys (SurveyMail), reading e-mail advertisements (BonusMail), or signing up for online trial offers. I highly recommend avoiding the trial offer route unless you really are interested in the offers. You are better off sticking with Survey Mail and Bonus Mail opportunities to earn reward points. Survey Mail is just your usual get paid to fill out surveys option, while Bonus Mail is basically a way for you to get paid to read spam emails.

10) Pinecone Research - The Pinecone Research survey company is noted for its extremely elusive and almost secretive nature. They are very selective in who they accept into their survey program. It’s great if you’re in because they provide you quality survey opportunities, but it’s bad if you want in and can’t find their membership application page. Pinecone program recruitment opportunities usually appear as advertisement banner links placed unpredictably on various relevant sites and blogs. Currently they do not recruit new members directly through their website. You can try visiting their main homepage, but good luck trying to find their sign up page - it’s non existent. While an active Pinecone registration link may not always be available, I will update this particular sign up link with a working Pinecone referral link whenever possible. The Pinecone Research payout rate is a set $3 per completed survey. Paid survey chances are steady and the company is known for prompt payouts - via either PayPal or check, depending on your selected payment method.

Most investors are familiar with superstar investment guru and easy going philanthropist Warren Buffett. How could you not? After all, he’s the single richest billionaire in the entire world and one of the most influential value focused investors. While the wealth snapshot order has swapped places a few times, at least on this recent Forbes ranking of the world’s richest billionaires, Warren Buffett is seated at the very tip of the money stacked totem pole, surpassing even Microsoft uber-geek and fellow billionaire, Bill Gates. But to label him a mere superstar investor would seem to dilute the sophistication of a man who spent a life devoted to a uniquely patient and value minded, get rich slowly type approach to building long term wealth. Warren Buffet is not your typical get rich quick financial motivator, but one who regularly preaches patience, with a keen eye for the undervalued potential of possible long term investments. The Oracle of Omaha, as Buffett is often fondly referred to today, is also the chairman and CEO of Berkshire Hathaway, the corporate manifestation of his immense and massive self made wealth, despite otherwise living and practicing a life of true humility and frugality.

Despite his tremendous wealth, Warren Buffett is also one of the most generous financial figures in the world in terms of how much he has contributed and donated back to society through charitable causes. A few years ago, he gathered up the bulk of his $40 something billion fortune (at the time), and made the decision to donate his money to the Bill Gates and Melinda Foundation as well as to a few other notable charities dedicated to the improvement of health and education in the United States and around the world. How’s that for enlightened and compassionate capitalism? Rather than spend his vast wealth on fancy cars, $2 billion dollar homes, or on over-the-top accessories that even hip-hop rappers would envy, Warren Buffett chose to live a relatively frugal life comprised of smart financial planning and wise long term investments that rely heavily on value choices. As a staunch supporter of wealth redistribution and progressive tax policies that favor the poor, he is also one of the most down to earth CEO business men out there - and yes, that’s him playing his quirky but famous ukulele in the picture.

So How Did Warren Buffett Become So Rich, And What Is His Single Most Valuable Piece Of Investment Advice For New Investors?

I’ve read Warren Buffett’s works and listened to him speak on Youtube, and I’ve come to greatly admire the man. For those that want to emulate his approach to investing and replicate the secret of his success to long term investment growth, his method can easily be summed up in a few short sentences. It is a concept all long term value investors have known all of their lives, but sometimes it takes a great role model to sum it up through a few inspiring words:

“Occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics is equally unpredictable, both as to duration and degree. Therefore we never try to anticipate the arrival or departure of either. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

- Warren Buffett, 2001.

The Oracle of Omaha’s way of creating wealth has always been making value centered financial decisions based on principles of frugality and longevity. His ability to continue investing until his 70’s (and hopefully much longer into the future) have enabled him to practice his long term strategy to its full potential. But his tremendous financial success has always been his ability to channel and harness the eternal capitalistic concepts and emotions of human fear and greed. By playing on and understanding the counter correlation between fear and greed, Buffett has been able to shape his outlook to better determine when a presented opportunity represents one that’s worth taking and when it merely represents a potentially risky financial bait that must not be succumbed to. Thus when the stock, financial, and real estate markets are dropping and everyone is hastily running into the hills for their financial lives, Buffett sees an opportunity. But when prices are soaring and flying high - encouraged by euphoria and near unanimous over-optimism and exuberance about future prospects, Buffett clenches down and exercises extra caution.

Learn To Invest Like Warren Buffett By Understanding The Interplay Between Investment Fear and Greed

For capitalism and democratic concepts of wealth creation to thrive, there has to be an ultimate driving force - and that is greed. Greed is good, and as one well known movie put it - greed captures the essence of the evolutionary spirit and it works. There is nothing inherently wrong with greed as long as it can be properly channeled into a powerful motivating factor to achieve success. But greed has its place - and so does fear. There is a proper time and place when both greed and fear should be acted upon. Upsetting the proper dynamic between the two capitalistic emotions has the potential to lead to disastrous financial results.

Warren Buffett truly understood human nature and the inherent lemming pack mentality that curses most individual stock market investors. When we see a particular financial investment take off and expand two or threefold in a short period of time, we immediately become enraptured over the financial potential, and our greed induced instincts cause us to blindly pursue the investment bandwagon. It is in our very nature to do so. That is how stock market bubbles and even real estate bubbles are formed - through the unwavering lemming effect whereby greedy investors join the rapidly expanding investment pyramid until the base comprised of new entrants can no longer sustain the prices and valuations at the top.

So to succeed financially in the spirit of Buffett’s approach, one has to obtain a more prudent, long term, value-based opportunity outlook. When stock prices are low and dropping, fear causes the majority of people to want to escape and pull their money out of the market in instinctive response. When the markets are seeing red and valuations are dropping, the tendency is to pull your money out of fear. But Warren Buffett sees this moment of fear as the ultimate chance for greed to triumph in the long term. It is not about timing the market, but about looking for the potential upside. When the market has tanked or is tanking, there is much higher potential upside. For undervalued investments, Warren Buffet would see this as the perfect opportunity to take on new positions for the long haul - particularly when the stock or fund fundamentals are sound.

On the flip side, when the entire market is in consensus that a particular investment ought to keep soaring and continue on its upward trajectory, in Buffett’s eyes, that is when cooler heads must prevail and caution ought to be taken. When everyone is in near unanimous agreement that stock prices should keep going higher, the potential for a massive reversal of potential is much greater. When others are greedy, that is when you must exercise fear as a counter intuitive response to the masses. The potential downside at that point is much greater and it’s likely the time to exercise greater restraint. Steps to protect oneself could be to purchase options to hedge against downside risk or to limit one’s investments to less volatile positions.

Thus, if you want to invest like Warren Buffett, heed his most important advice - invest and seek out opportunities when there’s blood on the streets, but hold your cards closely and guard yourself when everyone else seems to be ebullient about financial prospects. It’s counter intuitive to human nature, but it’s the perfect balance and manipulation of fear and greed. Learn to invest in long term value sectors using low expense broad market Exchange Traded Funds (ETF) and low cost mutual funds. Pick out a general low cost online discount broker or open a Roth IRA, and buy and hold investment positions that you believe will grow in the long term, and finally, resist the urge to constantly check your stock prices and bail at the first bump or trouble. Think long term, not short term.

Invest In Value For The Long Term and Understand That Stock and Real Estate Markets Will Naturally Rise and Fall Over Time

Inevitably and invariably, markets ebb and flow, and stock prices never maintain their upward trajectory forever, but at the same time, they also never head downward forever. So long as one maintains a long term investment outlook based on the understanding of fear and greed, we can all learn to profit like Warren Buffett has over the years. Buffett was able to make smart value based investment decisions because he had a long term opportunistic approach to investing. When he acquired control of a simple textile company called Berkshire Hathaway in 1965, he used that company as his primary investment vehicle to acquire and invest in companies that he understood, and retained management services of those he trusted. The key was that he held on. He did not attempt to outplay the market or try to time the market, or guess when he should exit or enter the market. He simply remained patient and sought out opportunities when others were fearful and exercised extra caution when others were greedy.

When the entire world was enraptured with the dot com craze from 1999 to 2001, Warren Buffett was ridiculed for ignoring and failing to cash into the high flying technology stocks that seemed to triple in valuation overnight in leaps and bounds. During this high flying dot com era, Buffett continued to invest his company’s assets towards acquiring old fashioned but valuable investments such as carpet cleaning businesses, roofing enterprises, furniture rental stores, and boring paint making companies. When the stock market finally plummeted and self imploded due to gross over valuation, Buffett’s company was one of the ones that remained unscathed and has continued to prosper since then.

As regular readers of my personal finance blog may know, I’m an avid credit card user and like to discuss the strategies and tips I use to maximize the credit card rewards I earn. While it’s certainly not everyone’s cup of tea, adopting a responsible multi-credit card carrying approach has allowed me earn quite a bit of cash back income and frequent flyer airline miles from everything I purchase. Other than purchase rewards, credit cards also offer cardholders another very valuable and functional perk - the ability to make balance transfers and take advantage of balance transfer arbitrage. A key deference to the versatility and value of credit cards is the option to use special 0% balance transfer cards to perform a wide array of financial actions that benefit the cardholder. Such actions include the ability to help pay down debt by shifting high interest credit card loans onto 0% balance transfer offers to weather difficult cash-strapped financial times. Even for those blessed with an otherwise debt free lifestyle, balance transfer cards allow the clever arbitrage profit-seeking card holder to make money by taking advantage of special promotional rates.

Balance Transfers Allow You To Take Advantage Of Interest Free Loans For Debt Reduction and Credit Card Arbitrage Purposes

Balance transfer credit cards are key tools in my money management arsenal. Of course, the benefits are clearly tempered by the inevitable hazards. It’s the classic opportunity that necessitates the walking of a fine line to chase higher risk rewards. To successfully navigate and perform a balance transfer without a hitch requires a scrutinizing eye for fine print detail, adherence to deadlines, willingness to make timely minimum payments, and the ability to follow directions carefully. Once you increase your financial knowledge and understand how the balance transfer process works, you won’t find this credit card perk so daunting or prohibitive.

The versatility of 0% balance transfer credit cards stem from the promotional teaser rates that many of them offer to new card holders. Most standard credit cards charge an interest penalty that compounds and add to the cumulative amount owed when you don’t pay off your balance in full every month. However, most major credit card issuers are willing to waive that initial interest fee for up to a year or more just to entice your patronage and earn some new business. Because credit card companies are perpetually locked in fierce competition between each other for new card accounts, they are willing to offer tremendous promotions and introductory teaser rates to attract the attention of consumers like you and I. The credit card racket (I mean business) is worth a significant amount of money to the credit card companies and they are willing to dangle giant tasty carrots in front of consumers, even if it means providing 0% APR offers for balance transfers lasting up to a year or more. As part of their never ending marketing efforts, credit card companies frequently mail promotional offers out to select consumers with good credit scores. However, as an Internet-oriented person who likes to comparison shop online, I prefer to select and choose the most appropriate 0% balance transfer card for myself.

What Is A Credit Card Balance Transfer, and How Do People Pay Down Debt And Make Money From Balance Transfer Arbitrage?

A balance transfer is the process of shifting credit card debt from one credit card to a newer one offering better terms and interest rates. Balance transfer credit cards contain several conditions and terms that all cardholders most pay attention to when evaluating offers - the promotional or introductory teaser interest rate, the duration of the promotional period, and the balance transfer transaction fee.

The introductory Annual Percentage Rate (APR) is the interest rate offered and the primary attraction of these balance transfer cards. These 0% grace periods give consumers access to reliable and interest free loans for a certain duration, allowing themselves or their business the time to reduce their debt or earn a profit. Different credit cards offer different types of promotional interest rates for different purposes. Some credit cards offer introductory 0% APR periods for all purchases in lieu of balance transfers, while other cards stick to just offering zero balance transfers. Individual terms do vary depending on the specific card issuer. Some balance transfer cards require all transferred balances to be made at the time of the initial card application. Others provide a window of up to 3 months, allowing all new balance transfers made during that time range to qualify for the 0% teaser rate.

As for balance transfer fees and duration, there is always a trade off between these two. Balance transfer credit cards with balance transfer fees usually offer longer promotional durations, while cards that waive the fee usually have shorter durations. The balance transfer fee is the onetime initial transaction fee (usually 3%, occasionally capped) that is levied by some credit card issuers as a percentage of the credit card balance being transferred. Not all credit card issuers impose this fee and some waive it for promotional reasons. Most balance transfer offers that do not charge the one time balance transfer fee usually have shorter promotional durations of 6-12 months. Offers that do charge a fee usually last longer - up to 12 months or more. However, oftentimes while balance transfer fees tend to be around 3%, many have maximum caps of around $75. Because there is a maximum fee limit, if you’re looking to transfer a large balance ($5,000-$10,000 for example), the one time fee shouldn’t be too significant of a deterrent in light of the huge amount of money you’ll save by not having to pay interest on your credit card balances.

In general, the primary incentive and objective for most balance transfer credit card seekers is to find a balance transfer offer with the lowest interest rate (preferably zero percent), with the longest duration (6 months or more), with the lowest balance transfer fee possible (preferably none). However, if you are looking for a long term balance transfer, paying a one time capped 3% fee as a trade off may be worth getting the longer duration.

What You Should Look For In a Balance Transfer Card Will Vary Depending On What You Are Looking To Do:

1. Pay Off Short Term Credit Card Debt - For those who are financially cash strapped or in need of a quick short term loan to pay down their credit card bills, no balance transfer fee credit cards for 6 months or more work the best. The 0% APR interest gives you a window of time to avoid paying any interest while you gather your finances to pay down your debt. No fee balance transfers will usually indicate that the fee is waived in the promotional written material, or in the tiny terms and conditions it’ll state something like “There is a balance transfer fee of 3% with a $5 minimum” but “There is no fee with the 0.00% APR balance transfer offer described above.” You can think of no fee balance transfers as a short term safety net for times when you really need them. I’ve personally used these offers before during times when I had short term cash shortages but faced emergency expenses such as expensive car repairs or tax bills. Of course, my intention was always to pay off the credit card debt in a few months.
2. Pay Down Long Term Credit Card Debt - For those with a lot of credit card debt or are struggling with monthly credit card payments, they should seek out extended 0% balance transfer offers that provide a longer grace period. Credit cards that offer 0% APR for 12 months or more are the most ideal for those looking to avoid paying interest while they slowly pay down debt. Most of the 12 month balance transfer cards do impose a standard 3% fee, but some offers cap it at somewhere between $75 and $100. If you are looking to transfer a high credit card balance or need extra time to pay off your debt, the one time upfront fee is probably worth the cost of securing a long term deal. Now if you really have a lot of credit card debt in excess of $10,000, you may want to apply for multiple balance transfer offers or you may even need to seriously consider a balance transfer for life card. Lifetime balance transfer credit cards rarely provide a 0% interest rate, but they do allow you to lock in a low fixed interest rate for the life of the balance. While you’ll still have to pay a little bit of interest, the advantage is that there is no year end deadline that you have to pay everything off, as the fixed rate stays in place until the balance is paid off.
3. Make Money From Credit Card Arbitrage - Those looking to make money from balance transfer arbitrage should seek out 0% balance transfer credit cards that waive all balance transfer fees as well. The key to making money from what some people commonly refer to as the App-O-Rama is to limit your transaction charges as much as you can to maximize the free loan money you can take advantage of. The concept of arbitrage is to take advantage of inefficient price differentials in two or more markets and to profit from this imbalance. As long as you can obtain free balance transfer money from introductory credit card offers, you can take advantage of this free loan money by investing the balance in high yield online bank accounts and earn arbitrage profit. Of course, naturally you’ll want as long of a duration as possible, but keep mind that many 0% balance transfer no fee cards are limited to only 6 month periods - 12 months cards are getting harder to find these days.

Here Is How You Perform A Balance Transfer and Successfully Profit From Credit Card Arbitrage (10 Step Guide):

Before you even think about applying for a 0% credit card offer or starting a balance transfer, you must read and be aware of common balance transfer mistakes and pitfalls. You must understand that balance transfers do not last forever and that they operate within specific time frames. After introductory teaser rate periods expire, balance transfer cards usually automatically reset to much higher interest rate levels. Also keep in mind that there are important differences between cash advances and balance transfers. You want to seek out the balance transfers, not the cash advances that are oftentimes not covered under these introductory offers. Here is what you’ll need to do to make a balance transfer:

1) Educate Yourself About Balance Transfers and Credit Cards - Before you transfer a balance, you need to know how the process works by understanding the terminology, the timetables, the promotion deadlines, as well as the risks and benefits. Be aware of all these things as you start the process.

2) Know Your Credit Score - Request your official free credit report and your free FICO credit score to evaluate your credit worthiness in the eyes of credit card companies. Balance transfer credit cards usually require above average credit scores so you must check to see whether you qualify for such offers to begin with. Obviously if your credit score is terrible, your chances of qualifying for one are probably slim.

3) Decide How Much Balance Transfer You’ll Need - Evaluate the amount of outstanding high interest credit card debt you have (if any) that you may want to transfer over to a balance transfer card offering 0% APR or a low fixed interest rate. Decide on the amount of 0% credit limit that you will need to handle your transferred balance. You should be aware that you have little control over how much credit card limit your new balance transfer card will offer you. If you have a stellar credit score and clean history of timely card payments, you are likely to get a much higher limit in the range of $5,000-10,000 when you open a new credit card account (business credit cards offer even higher limits). If your credit score is only average, you may only get a credit card limit of $5,000. This may determine whether you will need to apply for multiple offers or not.

Now if you have no actual high interest card balance to transfer but instead are looking to make money from balance transfers, you’ll need to decide how much interest free loans you would like to take on. Obviously the higher total 0% APR credit limit you have, the more zero percent balance transfer money you can withdraw and invest in a high yield savings account to earn credit card arbitrage profit.

4) Scout, Examine, and Evaluate All Potential Balance Transfer Credit Card Offers - Currently, there are three major types of 0% balance transfer credit cards. There is the long term low interest lifetime balance transfer card which is suited best for those looking to carry an unpaid balance for a year or more. There is the 0% balance transfer card that has an upfront balance transfer fee that charges a percentage of your total transferred balance amount as a processing fee (usually 3%). And finally, there is the 0% balance transfer no fee offer.

As discussed above, you should choose your type of balance transfer offer based on what you intend to accomplish. No fee balance transfer cards are the best because they charge no upfront fees and still enjoy the 0% APR rate for the duration of the promotional period. Unfortunately, their promotional and introductory periods are usually shorter than cards that impose a one time balance transfer charge. 0% cards with balance transfer fees usually have promo periods of 12 months or more. No balance transfer fee cards typically only last for 6 months. There are some 12 month no balance transfer fee offers, but they are rare.

5) Apply For the Balance Transfer Card Of Your Choice - After you’ve decided on which category of balance transfers best fits your financial purpose and situation, you should apply from a list of balance transfer offers. While those with low levels of credit card debt may choose to apply for only one card, some people opt or require multiple balance transfer cards to handle the size of their balances. If that is the case, you should decide whether you will be better suited applying for more than one card. When you are asked on the online card application how much you wish to transfer, you should always ask for as much as possible, up to the amount needed to suit your purpose. Since you can’t predict what your new credit card limit will actually be, it’s best to request as high (double or triple) of a balance transfer as possible. It’s better to be denied for a high balance transfer than to request too little.

You should be aware that every credit card application you make is considered a hard credit check that makes a temporary, but negative hit on your credit score due to the fact you are seeking credit. While credit scores almost always recover once all balances are later paid off, you can minimize the hit by keeping multiple credit card openings to within a short period of time. Rapid credit checks in succession are oftentimes treated as a single inquiry in the eyes of credit reporting companies. Keep in mind that certain card issuers such as Citibank limit the total number of credit cards you are permitted to own under their brand. Thus, if you already own multiple Citi Cards for example, Citibank may ask you to reduce the credit limits of your other cards and shift the excised credit limit to your new balance transfer card.

6) Transfer The Balance From Your Old Card To Your New 0% Promotional Rate Card (Requires Multiple Cards) - This is generally regarded as the indirect method of balance transfer as it actually requires you to have another credit card other than the one you are applying for. It’s the recommended method for those with credit card debt that needs to be shifted to the new card, and for those looking to pay down credit card debt. When your credit card application prompts you to do so, you must provide the account number information of your old credit card that you want to transfer from and the amount you want to transfer. The process may take a few days or a few weeks but the new 0% credit card you are applying for effectively sends the requested amount as an automatic payment applied to your old credit card balance. By doing so, the old debt will now appear as a liability balance on the new card, albeit enjoying the new introductory 0% teaser rate. Meanwhile on the old card, the balance will presumably have been paid off, so the balance should now be zero.

For those looking to make money from balance transfer arbitrage, the money transfer procedure will still require an old or secondary credit card for the indirect balance transfer process to work. Upon request pursuant to your instructions at the time of application or later on, your 0% card will send payment to the old card for the amount you request. If the old credit card already contains a zero balance, what will result is a negative credit balance on your old card as a result of the payment. This negative credit balance on the old card is essentially now an overpayment that you can withdraw and do as you wish, and the balance is now owed on the new 0% credit card you opened. For most credit card issuers like Citibank, Chase, Discover Card, and American Express, you can simply either request an online credit refund online via ACH transfer, or if the online refund option is not offered, you can simply request a credit refund check for the amount of overpayment. Citibank offers the most convenient credit balance refund since everything can be easily done via your online account.

Depending on the individual card offers, you may be required to make the balance transfer at the time you apply for the credit card to qualify the balance for the special promotional 0% rate. Other offers permit you to make as many qualifying balance transfers as you wish within a few months of opening the card. Make sure you follow the specific terms carefully.

7) If The Option Is Available, You May Request A Balance Transfer Check Instead (Multiple Cards Not Needed) - If your purpose of applying for 0% balance transfer credit cards is to make money from interest free credit card loans, you likely have no other actual credit card debt to transfer to this new 0% rate card. Some credit card issuers may allow you to conveniently request and issue yourself a balance transfer check for the full amount that you wish to transfer. Some card issuers will send a paper check to you while others will offer you the option to deposit the balance transfer amount into a bank account via the routing and account number provided. Whether via paper check or online payment, if the option to receive the balance transfer payment without needing a secondary credit card is offered, you should take this direct method - it’s a lot more convenient and hassle free. By depositing the requested balance transfer check into your bank account or sending the check over to another credit card issuer as payment, the check amount effectively transfers money to the target account, thereby resulting in an owed balance on the new 0% balance transfer card.

If your goal and purpose is to make interest free money from 0% credit cards, you should quickly deposit the amounts into your choice of high interest savings accounts. Whatever you do, do not even think of putting the money into the stock market. I know it is tempting to have all the interest free money, but the stock market is too unpredictable and risky for credit card arbitrage purposes. Be smart and stick with high yield bank accounts - don’t gamble your financial life away.

8) Remember To Pay Your Balance Transfer Credit Card’s Monthly Minimum Balance On Time - To avoid violating balance transfer rules, you’ll need to at the very least remember to make your monthly minimum payments. What I personally do is set up automatic monthly electronic payments through my bank checking account and set up online payment alerts. The process usually takes a month to set up but once it is put in place, there is less of a worry that you’ll forget to make your monthly minimum payments. Of course, you’ll need to make sure you always have sufficient money in your bank account if you intend to install automatic debit payments. Making your monthly payments is incredibly important because a single violation of your credit card terms will cause a terrible balance transfer disaster, triggering your 0% promotional period to be canceled and reset to the standard high credit card rates. Be smart and diligent when it comes to this. Following balance transfer rules is serious business.

Some people recommend making regular payments in excess of the minimum requirement towards the credit card balance throughout the year rather than waiting until the very end to make a huge payment. Obviously this makes a lot of sense (and cents) and is the correct course of action for those who sought the 0% offer to help them ease the interest rate pain of paying down credit card debt. But for those looking to make money from balance transfers this sort of defeats the whole purpose of balance transfer arbitrage. To make money from balance transfers, you want to leave as much 0% loan money in your interest generating bank account for as long as possible. Thus, unless your balance transfer purpose was to pay down debt and not to make money from credit card arbitrage, other than pulling money out to pay off your monthly minimum payments as needed, you probably should wait until a few weeks before the end of the 0% balance transfer promotional period before paying everything back in one large chunk.

9) Pay Off The Balance Transfer In Full Before It Expires - The moment you put the 0% balance transfer period into effect, you must find out the exact calendar date that the promotional period expires. This is terribly important - find out the exact expiration date and verify to make sure. Record this date on your calendar or set online reminders to alert you when the 0% period is up. Personally I use my Yahoo email calendar alert function to send me email reminders a month and a week before important dates.

While fixed interest rate balance transfers have no time limit, I want to reiterate that 0% balance transfers on the other hand do not last forever. At the 6 month or 1 year mark when the promotional period expires, your 0% credit card rate will suddenly reset to the standard high interest levels (APR as high as 15-20%). If you have any unpaid balance at that point, the entire balance transfer will become due with devastating interest rates imposed. Your imperative goal should be to pay back the entire amount in full before expiration. If you borrowed a lot of interest free credit money, you will have to pay back quite a hefty sum, so keep this in mind. If your goal was to make money from balance transfers, I presume you have wisely invested the money into high yield bank accounts, earning free interest money. At the end of the balance transfer period you should withdrawal the entire remaining amount from your savings account or money market fund and pay off the entire credit card balance.

10) What To Do With Credit Cards That Have Exhausted Their 0% Introductory Periods - After you pay off your credit card balance, your credit score will recover. As for the credit card that’s exhausted its promotional period, there is no sense in cancelling it really. Because total credit limit available is a positive component of calculating FICO credit scores, canceling the card will only reduce your overall credit limit available, thereby hurting your score further. I recommend not cancelling any cards. If the card offers credit card rewards for purchases, you may consider adding it to your wallet of reward credit cards to use on a regular basis. Of course, if you have no intention of using it ever, you may simply want to put it away in a safe place.