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I’m paying your rent or mortgage for a month

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21 9

Every so often, I run a fun contest to share part of living a Rich Life.

In the past, I’ve given away things like $1,001 cash (Indians always add an extra $1) and 2 round trip tickets anywhere in the USA.

Recently, one of my co-workers sent me this recent study showing that over 75% of Americans are living paycheck-to-paycheck — meaning nearly 1 in 3 people would be completely broke if they lost their jobs tomorrow.

What would happen to you? Some of you have already automated your savings and investments.

Whether you have or not, for most of us, our rent or mortgage is our biggest monthly expense. It’s the first thing we think about paying every month. But what if we could pay it off and have money left over to spend on the things we love? What if, even after paying off our fixed costs, we could feel in control of our money?

This month, I want to give one of you a taste of that financial security.

I’m going to pay someone’s next rent or mortgage payment up to $2,001. Totally free. No strings attached.

What will you do with all the money that you save? Will you let it be a one-time windfall? Or will you set up systems to automatically handle savings, investments, and spending going forward?

Enter now:

By the way, if you join the contest and refer the grand prize winner, I’ll give you $2,001, too, to say thanks for helping me spread the word.

This ends ends September 2nd and it only takes 5 seconds to join.

That link again:

21 9

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21 9
  1. My husband and I are moving to Oregon this year (not for work, just because we want to!). He’s leaving first, in a week, to start a new job. I’m leaving 6 weeks later, and working on getting a new job. But that does mean we’ll be paying 2 rents for the first time since we were dating.

  2. I’d use it on plane tickets to visit a friend who is moving to Austria. Auf wiedersehen, New York!

  3. My boyfriend and I would add it to our savings for a down payment on a house that we want to buy within the next year.

  4. I would put it all in savings.

  5. We’d take the 10-year anniversary weekend getaway we never got to do.

  6. I would do some much needed home repairs

  7. Will save it by putting it in an index fund

  8. Invest the windfall into my long term savings Vangaurd fund (with emerging markets down – but expected grow back in the long term, this could be a good time to invest).

  9. I’d use the money to help pay off my truck a couple of months sooner. If I had this I’d have my truck paid for by the end of the year!! Just in time for the new baby to arrive.

  10. If I win, then I can finally be more aggressive with Ramit’s six week program. I can add some money into the online bank accounts, and finish paying off my credit cards (now that I lowered the APR.) I swear that book is gold, but it’s taking me more than six weeks to finish! Being a grown up isn’t easy, but good advice helps!