What if there was a simple way to turn everyday purchases into 1% savings without getting a new credit card? The PayPal debit card does just that. The card is just like your current debit card and can be used for everyday expenses. You’re not required to keep any money in your PayPal account.
PayPal requires that you set up a backup funding source (i.e. my personal checking account). Therefore, any charges you make on this card are simply deducted from that backup funding source. Consequently, nothing really changes in regards to how you pay for expenses every day if you currently use a debit card.
This 1% cashback can really add up. Take a few minutes and average out the amount of money you spend out of your checking account every month. Let’s say you spend $1000 every month for regular monthly expenses such as gas, groceries, online purchases, etc. In this example you would earn $10 in PayPal rewards, and the only change you have to make is to use a different card.
Like this idea? Sign up below for four free chapters from my book Small Changes, Big Results!
I hope you can see how making one simple change in the debit card you use every day can reap some really nice rewards. One thing to consider is what to do with this new money you’re going to receive every month. I would suggest giving it a special purpose.
For instance, maybe you could use this money every month to go to the movies together as a family. Perhaps it can be spent on a family lunch together. Maybe you want to stash it away into your guilt free “blow money” envelope whose sole purposes is to spend on whatever you want! The possibilities are plentiful. I’d love to hear your thoughts on the PayPal card, if you’ve ever used it, and what you plan on using the 1% cash back in the comments below!
