June Finance Tips: Discover and Liquid

Discover is having a deal where they will double your rewards for the next year. The catch? You'll get your rewards doubled after a year (i.e. get the double rewards posted to your account at the end of 12 months).

You'll need a Discover debit card or a Discover IT (use this link for a referral so you and I get $50. Chances are you can find a better signup bonus like $150 after spending $750 in the first three months). Already have the Discover IT card? Just call 800-347-3085 and ask to enroll in the double cash back promotion; it shouldn't take more than 5 minutes.

This Discover deal essentially gets you 10% off their quarterly specials (up to $1500 in purchases) and 2% all other purchases. This is useful as Home Improvement stores, department stores, and Amazon.com counts for third quarter and online shopping/department shopping is the category for the fourth quarter (advantageous for holiday shopping).

With Discover Cash Back, you can get gift cards, including electronic gift cards you receive immediately, worth more than you would get if you redeemed it for cash.

Don't forget the online portal deals from Discover! One of the better benefits is rarely known by the average user. You go to the Discover site, login, Discover Deals, choose the site you want to shop, and then shop as you would normally using your Discover card at checkout. You'll get the percentage back on your next statement.

Reminder: It is possible to have too much liquid (money readily available to use). You probably want to put spending money (including what you plan on spending in the near future)+a bit extra money into a checking account. Everything else should be invested in something better than a checking account, even if it's a "high" interest savings account (1%, at Barclays/Ally/etc). I would also put your 6 month emergency fund in your savings account as well.

As the saying goes, "Make your money work for you"