17.65% return, risk free!
Okay, so we are all guilty of chasing percentage points. I know that I'll move most of my e-fund for a quarter of a point to a different bank. And of course rewards CCs are par for the course. So you can imagine my delight when I found out that my going permanent at work would be the same week that my company made our discount grocery cards available.
Apparently, once a year our company has a deal with Kroger for gift cards. The cards only come in $100 increments, and each permanent employee is allowed to purchase up to 10 cards. However, we only have to pay $85 per card. That's a 15% savings! So, if you were to buy all 10 cards, paying a total of $850, and getting $1000 worth of grocery money out of it, that's a 17.65% return! And you didn't pay tax! And you can buy the cards on your rewards CC for another 1% cash back!
Okay, okay, so I know it's not really a return on an investment. But is saving money really that different than a capital gain? At the end of the day, there's still more money in my pocket (and more groceries in my cubbard!)
Apparently, once a year our company has a deal with Kroger for gift cards. The cards only come in $100 increments, and each permanent employee is allowed to purchase up to 10 cards. However, we only have to pay $85 per card. That's a 15% savings! So, if you were to buy all 10 cards, paying a total of $850, and getting $1000 worth of grocery money out of it, that's a 17.65% return! And you didn't pay tax! And you can buy the cards on your rewards CC for another 1% cash back!
Okay, okay, so I know it's not really a return on an investment. But is saving money really that different than a capital gain? At the end of the day, there's still more money in my pocket (and more groceries in my cubbard!)
posted by NinjaPigeon at
9:13 AM
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