<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > A confession, an ethical dilemma and a good thing

A confession, an ethical dilemma and a good thing

November 1st, 2006 at 03:50 am

Confession: One of my roommates and I went to Reno to visit a friend this weekend. Yes, I gambled. I know, not frugal, but I won enough to cover the cost of going up there and the meal out, so... Yeah.

Dilemma: My roommates and I are all paid on the last day of the month, so that is when they write the checks for their shares of the rent to me. I normally deposit the checks that day and pay the rent on the first. However, the landlord does not assess a late fee so long as the rent is paid by the fifth. In theory I could deposit their checks and leave that money in my savings account until the fifth, thus raising my average daily balance significantly for the month.

I don't know... I regularly wait as long as possible to pay other bills without guilt so I can keep that money in savings, the rent would still be paid on time with a good check, but I'm not given the rent so that I can make money off of it, you know?

One good thing: I've managed to keep from buying soda the last couple weeks. It's silly to buy sugar water, so I'm trying to quit. It's $5-6 bucks a week not going out.

Posted in General | 2 Comments »

2 Responses to “A confession, an ethical dilemma and a good thing”

  1. LdyFaile Says:
    November 1st, 2006 at 09:04 pm 1162415081
    1162415081

    Would it really make that much of a difference just for five days? Can you be certain that the transfer back to your account would happen fast enough? Is there any wait time between transferring the money from your account to savings? Just curious. My high interest account is with ING and it takes two days to get there and two days to get back. I don't think there's anything ethically wrong with it, just potential for you to bite yourself if something goes wrong in the transfer.

  2. ren Says:
    November 2nd, 2006 at 02:38 am 1162435092
    1162435092

    Well, it's $1500 x 5 days / 30 days in a month, so it'd increase my average daily balance $250, if I understand how they calculate it.

    Transfers are immediate, since it's within the same bank. I can schedule the transfer to go through on the fifth automatically; they're really good about that.

    It is an awful lot of trouble to go to for maybe $1 extra a month though. I probably won't bother. But if I could figure out a way to charge the rent to my cashback card... Naaaaaah. *g*

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]