One of the best surprises is getting a referral bonus. Whether it's through my bank, investment brokerage, or wireless provider, getting free money is extremely satisfying. Especially, when you already have lower than usual expenses because you've cut things that you no longer need, like cable TV or monthly banking fees.
The other day, I received another referral from my wireless provider, Zoomer Wireless. Their referral bonus is currently a $50 bill credit when they use your referral code when they activate a new line. The person using the referral code also receives a $50 bonus and that is the best kind of referral... when both parties receive the same bonus.
|Referrals received through my account on Zoomer Wireless|
For Zoomer Wireless, Wifey and I both have accounts so I used her referral code when I signed up for an account. For both wifey and my accounts at Zoomer, we've earned at least $800 in referral bonuses.
Back when Fido had referral bonuses, we earned quite a bit there as well. I signed up using my wife's phone number, she signed up using her friend's phone number, and I signed up a couple friends as well.
What I do with referrals isn't push them on friends and family unless they are seriously considering getting that service. I would just casually mention what I'm paying for my service and say if they need a referral, I could help with that. Most times, people aren't motivated with saving money. Some are just trying to get the latest iPhones
or just want to sign up a bank account with the bank they are familiar with.
Another thing I've done is just post all my referrals on a page
on this blog. From time to time, I get referrals which is very nice. Thank you to everyone who signed up for a service and used a referral code provided.
Whether it's the no fee banking account or the no commission brokerage accounts, any free money just helps with the goal of early retirement. You hear people referring to cutting down on that morning latte to save $5 for retirement, well instead, this is companies giving you money giving you money for telling people how much you like their service and convincing them to join up.
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