While I know some Couple Money readers are shopping for some deals, I want to highlight some big bonuses this weekend from CapitalOne 360 when you open up a new account with them from November 29th 12:01 AM ET through December 2nd at 11:59 PM ET.
$125 Bonus for 360 checking Account!
Now you can have a great checking account and a nice little buffer to start it off. We’ve had our checking account with them for years and have been happy with their service.
Open a fee-free 360 Checking account between November 29th and December 2nd and grab a $125 bonus.
This has to be your first 360 Checking account.
Make a total of 5 debit card purchases (either signature or PIN-based) or 5 CheckMate deposits (or any combination of the two) within 45 days, and your $125 bonus will be automatically deposited into your account on day 50.
Customers will earn interest on their everyday cash. APYs are effective 11/29/2013.
0.20% Balances under $50,000
0.80% Balances between $50,000 and $99,999.99
0.85% Balances of $100,000 and more
Besides the bonus, there some other great features with their checking account.
No monthly maintenance fee
$0 required minimum balance
Free online billPay service
Conveniently located ATMs
Earn some interest rate if possible
If you want to open a checking account with Capital One 360, simply click here to get started and get a $50 bonus!
$75 Bonus for 360 Savings!
If you want to give your cash reserves a bump, 360 Savings can be a convenient option.
Open a no-fee 360 Savings account between November 29th and December 2nd and snag $75.
This has to be your first 360 Savings (including Orange Savings Accounts) account and it needs a $500 minimum initial deposit or more.
The bonus starts earning interest on day 1, but you can’t take it out for at least 30 days.
The variable Annual Percentage Yield (APY) is 0.75%, effective 11/29/2013.
If you want to open a savings account with Capital One 360, simply click here to get started and get a $75 bonus!
I loved following along as Brian honestly appraised his progress (or lack of it) week by week, looking for ways to save without sacrificing quality of life. I just wanted to highlight a few of my favorite points from the book.
Don’t be intimidated. Brian told me that one lesson that he hoped that people would take away from his book is how anybody can do this. Not all families can cut their expenses $1,000, but we all work on our finances one bite at a time. Have a goal and try to dig as deep as you can. So what if you don’t meet it? At least you’ve saved some money rather than not even bothering to try.
Weigh the time versus results when deciding where to start. Going for the low hanging fruit that can give you some big ways is incredibly motivating. No one wants to feel that their efforts are for nothing so take a minute to look at your monthly expenses and see where you can get a big win upfront. O’Connor knew he could probably get a big win with refinancing his mortgage, but the process would take some time, so his first goal was to slash their transportation expenses.
Review your cell phone to see if you can find a better fit for how you use it. Do you still have that expensive plan that you got years ago? It may save you a ton of money to make sure that it’s still a good deal.
Review your recurring expenses. Even if you did sign up for something, it doesn’t mean you have to keep it. Perhaps that gym membership should be cancelled since you haven’t used in the last couple of years or you discovered that you no longer need a golf magazine subscription because you’re now into tennis.
Get rid of junk. Brian also managed to simplify and reduce his expenses by getting rid of the stuff that was in their storage unit.
Not every couple has the same income or expenses, but I found Brian’s way to tackling their finances incredibly motivating.
His humor throughout the book made it easy to follow. Sometimes finances can be so dry and boring and that can make it even harder to optimize expenses.
Working as a Couple to Save $1,000
After finishing the book, I was curious to find out how on board Brian’s wife was with the $1,000 challenge.
I know that sometimes you don’t always see eye to eye.
I had the great pleasure of chatting with Brian last week to help me get a better idea of how he and his wife tackled the challenge.
He admitted to me that his wife wasn’t sure that they could cut $1,000 from their expenses.
She also had some family bills that she didn’t want to completely cut out but she was willing to see what he could find and was supportive of his efforts.
Since he handled the bulk of the day to day finances, it made it easier to let him handle the phone calls and number crunching (while still keeping her in the loop).
We also discussed how to approach something like this when you and your spouse may have differing views.
He suggested making it easy and risk free for the reluctant partner. Start with an area where you both agree needs to be trimmed. Then nibble around some of the other bills.
You may not get to cut back as much as you had hoped, but at least you got some wins with your spouse’s support. That approach may pave the way for larger projects in the future.
Since he finished the challenge, I asked him if there were any habits or expenses he went back to or if they were able to keep the cuts over the years.
He said that most of the changes stuck, mainly due to the fact that they slashed their recurring expenses.
So just as setting up automatic deposits can help you save and invest, so can optimizing your regular monthly bills. You spend some time upfront, but the results last for awhile.
He also conceded that their grocery bills fluctuated based on how attentive they were.
Thoughts on Saving $1,000 as Couple
Have the two of you ever done a big money challenge like Brian? How successful were you?