Title: I am 35 years old, I made $67,665 gross last year (between multiple jobs) and live in Buffalo and work in higher education and retail.
This is my 5th MD update. Previous MDs in June 2019, October 2019, February 2020, and July 2020.
Ref29 questions:
Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it?
Absolutely. Both of my parents have bachelors degrees, and it wasn’t even a conversation of “if” I was going to college, but “where”. I ended up going to a private 4-year college, with a 75% merit scholarship. I was able to pay for the first semester with savings bonds/general savings, but took out loans for the remaining semesters. I worked 2 on campus jobs (tour guide and TA), plus at a coffee shop - this was more for spending money/gas etc. Looking back, I wish that I had put more of that income aside for paying for school, but I was definitely headlong into the student loan trap of “it’s ok, this is good debt….blah blah.”
I thought that i had the exact idea of what I wanted to do for a career - and that basically required a masters degree - so I went straight to grad school after undergrad. Private - and took out the maximum student loans for both years. I cannot stress what a terrible financial idea this was. The last half of my MA was in DC, so I used the loans for rent/food, as I had a full time unpaid internship. Long story short, what I thought was my career goal wasn’t.
I am FINALLY nearly done paying off my loans. If I had to go back and give my past self advice, it would have been to not go to grad school directly after undergrad. I still might have gotten my masters, but I would have done it in a much more financially responsible way.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
We had conversations growing up - but it was much more of a conversation now that I’m an adult. I’ve noted in past MDs, but my parents have told us that they regret not being able to help us all more as teenagers/college/young adults, so they’ve been extremely supportive of my focus on debt repayment.
Did you worry about money growing up?
Not really. I remember being conscious about it - we didn’t have new cars (EVER - like it’s still a thing), and we used coupons/budgets/bulk freezer meals for shopping, but I think a portion of that was that there were 4 of us kids. We were all involved in a variety of extracurricular activities as well, but I don’t remember even being like, limited or restricted from doing anything.
Do you worry about money now?
Absolutely.
While I am noting that I’m making progress, it is still very overwhelming. It’s really hard for me not to beat myself up when I either buy “treats” or things that aren’t really treats, but are just home comforts. I finally bought myself 2 sets (!) of decent sheets this past month after having 1 set of crappy sheets for the last 2 years lol. I still have so much work to do, on debt repayment, fully funding my emergency fund, and (massive goal here) saving for a down payment on a house.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I would say I was financially responsible for myself when I moved for grad school in the fall of 2008 (so when I was 22/23).
That being said, I definitely have had a financial safety net - my parents always assisted with grocery money if I needed it - when I was married, that definitely was not only a safety net, but also got me in a lot of bad habits.
Since my divorce, my parents have assisted with cell phone, car insurance, and letting me live with them for a few months when I moved back to the US. I know that if something happened, they would absolutely assist with a place to live if I needed it.
Do you or have you ever received passive or inherited income? If yes, please explain.
As previous MDs have noted, my parents have assisted with assorted checks when my dad got a bonus, and they have always been extremely generous with holiday $.
Section One: Assets and Debt
Retirement Balance (and how you got there): $33,194.67 (up from $23,800 in February 2020)
This is a combo of Stash Retire ($1721.52), 401K from a previous job ($17,330.01), retirement accounts from my current job ($2807.58 in my optional IRA to which I contribute extra; $2947.46 in the basic retirement plan, to which my employer contributes 7%), and TSP from a previous job ($8,388.10).
Savings account balance: $1000
Checking account balance: $1381.07 (at the start of the money diary)
Credit card debt (and how you accumulated it): $7,558.08 (focus has been more on student loans, plus I am a bit guilty of using it at random points) (down from $19,556 in June 2019).
Student loan debt (for what degree): Current remaining balance is $972.57!!!!! This is down from $23,645.37 in June 2019) (combined loans for undergraduate and graduate degrees in International Relations. To give you an idea of how much I’ve paid off - I’ve paid $118,297.81 off up to this point).
*note: December was a PHENOMENAL debt payment month for me (just over $4k).
Section Two: Income
Main Job Monthly Take Home: $2847.53
*after using the IRS refund calculator, it became clear that I was expecting a much higher refund, so I stopped having extra withheld. Eventually I’ll get the hang of it.
Side Gig Monthly Take Home: $1442.72 (average monthly take home August-December 2020)
My retail job fully reopened, and I also applied for, and got a promotion, which meant both an hourly raise and more hours)
Any Other Monthly Income Here:

• Christmas $ from Mom & Dad - $1000
• Stimulus Checks - $1200 + $600 (Both of these went mainly to debt repayment)

Section Three: Expenses
Rent / Mortgage $980.00/month (+ $3.95 service charge when I pay online) (no change)
Retirement contribution: $115.58/month Roth IRA from work + $80.00/month into Stash Retire (no change)
Savings contribution: $0/month (Debt payments are the priority)
Investment contribution: None
Health/Dental/Vision Insurance: $76.38/month (Through work, it gets taken out biweekly)
FSA contribution: $27.78 biweekly (I set my annual contribution at $750 this year, up from $600)
Debt payments
Student Loan minimums: $55.54 is strictly the minimum for my FINAL (!!!) student loan, but as you all know by now, I have been attacking these with a vengeance and plan on this being gone no later than March.
Credit Card minimums: Avg. Monthly Payment $300. (as mentioned in the debt section, I have slipped slightly on allowing myself to use the credit card, but still have been able to lower my overall amount)
Wifi/Cable/Landline: $64.99/month
Cellphone: Still on the parental plan, but will be transitioning off. I’m shopping around and have started to budget.
Subscriptions: Apple storage - $2.99/month; Netflix- $8.99; (even though I’ve been able to be at home much much more, we still get a monthly barkbox for the toys; Spotify Premium - $9.99/month. Headspace - $14.99/month. Renaissance Periodization - $16.19/month
Laundry (if you pay per load): $40/month. I put aside $10 per paycheck.
Gym membership $75/month - I budget this much for my ROMWOD and Movement Vault monthly subscriptions. This also covers my monthly subscription for my WHOOP band. My retail side gig also provides $225/month to work out. This covers my monthly membership to my crossfit gym, as well as extra megaformer classes. $32.63/month for WHOOP; $13.95/month for ROMWOD; $9.99/month for Movement vault
Pet expenses: $150/month - includes pet insurance. This is what I put into my budget for insurance, food, grooming etc.) Barkbox 31.54/month; Pet insurance $79.24
Car payment / insurance / average gas:$100/month (as my dad plans on retiring within the next year, he will be signing over my car to me, meaning that I will be taking on my insurance. I fully acknowledge that this has been nice to not have to worry about, and that my parents have been absolutely amazing. The current annual insurance for my car looks like it will be around $450. Future money diaries will take this into account.
Renter insurance: $12.50/month
Average groceries / household supply spend; Looking at YNAB, my average spend has been just over $700/month. This seems insanely high for one person, but I do also follow a RP meal plan, meaning that I tend to eat A LOT to fuel my workouts. I also haven’t gone out basically at all ….
Regular therapy: N/A
Charitable Giving: $75/avg. August-Dec 2020 (Much of this was “rage” donating in the run up to the election)
Annual Expenses:
YNAB (You Need A Budget): $83.99/year
NB: Anytime I leave my house, I am masked, including gym visits. It’s honestly not terrible once you find a mask that works for you!
Day 1: Friday
5:45am: Alarm goes off and I get up to put the kettle on to start coffee. Today is a weigh in and weekly review for my meal/training plan, so I enter my numbers and see what my upcoming week will look like as far as my macros. I notice that my chest/shoulder are sore, and hurt when I take a deep breath, but assume that I just slept on my arm wrong. I take out the dog, feed him, and head out to my weightlifting class.
7:30am: Nope, not just sleeping on it wrong. I make it through the lifting portion, but when we start the metcon, I have to stop because it hurts too much to take a really deep breath, instead stretching and cheering everyone else on. Annoyed, but hopefully it’s nothing too crazy. I think it’s just a strain from my muscle up drills the day before. Once I get home, I make breakfast - a savory oatmeal with oats, cheese, chicken sausage, egg whites, and mushrooms, topped with a fried egg and za’atar seasoning from Trader Joe’s. YUM. I log into work and get settled in for a 2 hour (ugh) staff meeting.
11:00am: Finally done with that. Thank goodness for my camera getting to be off. I take a shower and get into “work” clothes - aka lululemon from top to bottom (align leggings, ebb to street crop tank, and a sit in lotus wrap). Back to work until it’s time for lunch, which I have just after noon (rice, sweet potatoes, bell peppers, and ground beef, topped with avocado). Work continues afterwards.
2:00pm: Time for work #2! It’s a fairly uneventful (and slow) afternoon/evening, which is ok after the craziness of the holiday season. And I only have to tell 2 people to put their masks on over their nose and they don’t give me an attitude - woohoo! Around 5 I eat my food on my 10 minute break - another taco-ish bowl, just without the avocado from earlier. I get out from work at 7:30pm.
8:00pm: Home, take the pooch out and feed him and make my casein hot chocolate (casein protein is a slower digesting type vs. whey and it’s my evening “meal” most of the time) plus a couple dark chocolate peanut butter cups. I facetime my Mom briefly and then we each put on our respective Star Wars shows - she and my Dad are watching the Mandolorian (they just got Disney+), and I’m deep into season 4 of the Clone Wars. Bedtime routine starts at 9:30 with a couple of melatonin gummies and I brush my teeth and wash my face (eye makeup remover, then Neutrogena foaming cleanser, and a nighttime moisturizer from Aldi). Snuggle up with the dog and a heating pad with a Headspace night sounds playing.
Daily Total: $0
Day 2: Saturday
5:50am: NO. It’s like 30 minutes before I want to wake up...NO.
6:10am: Uggggggh
6:20am: FINE. Dog outside, then fed. I make coffee and another savory oatmeal (AMAZING - same as yesterday, just no bell peppers). Catch up on podcasts and my YNAB budget. In happiest news, I can take a full big breath without that weird pain from yesterday! Yay!
10:00am: Home from my workout, which went amazingly - I love a good long chipper of a workout! I take the dog out for a little cold weather walk and then make my post-workout meal - Kodiak chocolate chip pancakes with blueberries! (use 1 egg and almond milk to make the pancakes and it fits my post-workout macros: 35P, 10F, 65C). I follow this with a cuddle session with the dog while watching Marple episodes and drinking coffee. I also add items to my lululemon shopping cart and exit out of it before I can spend money. While I get a great discount (especially on markdowns), I know I don’t really NEED anything, so I don’t get anything.
1:00pm: Off to the mall for work. I stop on the way to fill the gas tank ($25). It’s a busy day, but a good one - during my break I eat my taco bowl (rice, sweet potatoes, ground beef, peppers and avocado). I work until 7:30pm.
8:00pm: Home, dog out, casein hot chocolate - the usual. I’m nothing if not a creature of habit. I pull out a Trader Joe’s chocolate croissant to prove overnight in the oven. Bedtime is around 10pm.
Daily Total: $25
Day 3: Sunday
7:50am: Whoooops, I intended to wake up around 7:15, but I didn’t actually set the alarm. Luckily the dog wakes me up with a polite whine - I take him out, make coffee and a bowl of oatmeal (oats, almond milk, egg whites, topped with blueberries), and head to my workout around 9.
11:00am: 2 workout classes later, I’m home - post workout meal is the aforementioned chocolate croissant, and a little egg scramble of egg whites, mushrooms, chicken sausage and broccoli. The afternoon is spent with old Miss Marple episodes on Amazon Prime, combined with laundry and apartment cleaning.
3:00pm: I made a quick loaf of bread (2 hrs of rising, then shaping) and put it in the oven. Happily it turns out pretty damn tasty - I make Trader Joe’s Cippino (seafood soup) and have that with toasted fresh bread around 4/4:30pm. A Clone Wars marathon ensues - the Bills are playing in the AFC championship tonight, so the city is basically a giant ball of nerves. I don’t watch the games (and haven’t all season - mostly because I don’t have all the apps/cable), but I follow the score on my phone while watching many (MANY) episodes of Clone Wars. I facetime my mom and dad around 7 after they finish the Mandolorian and we can all squeal with excitement.
9:00pm: Melatonin gummies, contacts out, teeth brushed, face washed, bedtime.
Daily Total: $0
Day 4: Monday
5:45am: Awake, coffee, take the dog out, head to crossfit.
7:30am: Home, dog out again, then breakfast (homemade toast, everything but the bagel smoked salmon, scrambled egg+egg whites) and more coffee. I login to work at 8am, and get the morning podcasts going (Up First, the Daily, Post Reports, the Intelligence).
10:00am: I place a Target pickup order for the snacks for our break area at the mall (seltzer, peanut butter crackers, cookies, granola bars - all single serving packs). I will be reimbursed for this by the store. ($39.57 - I get a notice that an item isn’t available after I place the order...oh well)
11:00am: I’m traveling out of state for a couple of days - it’s a long awaited tattoo coverup (don’t get a tattoo for a significant other….I knew not to do this...and yet I still did), so I make my list of items to pack and things to remember to do (take out trash, do all my dishes, etc). I will be driving to my destination (Indiana), staying at a hotel by myself, going to the tattoo shop (masked), and back to the hotel. Not telling friends I’m there, not going out anywhere. And I’ve scheduled a test for 4 days after my return, per NYS rules. If I could make the drive nonstop, I would, but your girl isn’t giving herself a UTI lol. I’ll be masked and sanitized anytime I step out of my vehicle. Still super nervous, but getting this tattoo covered up is like….the final FINAL step. I also take a shower (finally, yes I’m gross and have been sitting in my workout clothes since I got home - god help me if I ever live with a human again lol).
2:00pm: Time for head out for work! On the way, I pick up my previously mentioned Target order, and also pick up meals for my trip from a local meal prep place - I get a bunch of great stuff (2 breakfasts, 2 dinners, 1 lunch plus energy bites for the car), plus it means that I can just hermit it up in the hotel room apart from the actual tattoo appointment. ($62.68). I get to the mall early before my shift starts - since I know I’ll have a tub in the hotel room, and I don’t have one in my apartment, I get a couple of bath bombs and lotion from Lush ($25.93) and a whole bunch of sheet masks from Sephora ($25.01). Then time for work - It’s a fairly quick shift, which is nice, not too terribly busy and we get a lot done. And people at the mall are generally not pills today - epic win!
8:15pm: Home from work - take the dog out and have a little evening meal of homemade soup from my co-worker (it’s a kale sausage soup her husband makes and it is AMAZING) and the rest of my homemade bread. I finish packing up and the poor pup definitely knows something is up. Bedtime around 10pm.
Daily Total: $153.19
Day 5: Tuesday
5:45am: Alarm, dog, coffee. Rather than dirtying dishes, I heat up one of the prepped breakfasts I brought (a breakfast sandwich with chicken, which is actually quite tasty - plus some blueberries). I get the car loaded up with my stuff and the dog - he’s staying with my parents while I’m gone - and head out by 7:15am. After I drop him off I top off my gas tank ($14.10), and also get a couple of bubly waters and a can of death wish coffee for the road ($6.25).
12:00pm: Lunch stop at panera - fuji apple chicken salad and a cup of chicken noodle soup - drive thru and eaten in the car ($10.94, but I have a gift card). Road Trip Podcasts: You’re Wrong About and Noble Blood.
3:00pm: Gas stop (there’s also a few bathroom stops, but since I didn’t spend anything, it’s not terribly relevant, right? :) ) ($27.01).
5:30pm: Arrival! Check in to the hotel - masked front desk employee, check. Bring my stuff up to my room, and jackpot - biiiiiiiiig tub. Looks like those bath bombs were a solid choice! Open up the work laptop to see if there is anything urgent - nothing crazy - and decide which meal I want for dinner. Bourbon Chicken with Broccoli and Sweet Potatoes it is. Plus a Sparkling Apple Cider vinegar beverage (ginger and lemon) from Trader Joes. Before I eat, I do a lower body focused stretching routine from ROMWOD since I spent so long in the car.
7:30pm: Bath Bomb, Face Mask, Feet Mask, and finished Night Stalker on Netflix. Since I’ll be quarantining until I get a negative COVID test after my trip, I order 10 meals through the same meal prep company that I got my travel meals from ($88.43 - includes both delivery fee and tip). They will be delivered on Sunday.
Daily Total: $146.73
Day 6: Wednesday
6:00am - I had intended to sleep longer, but my body is like - nope, you’re waking up at the same time no matter what. Coffee (keurig in the hotel room - ick) plus a prepped breakfast (a goat cheese egg white scramble with sweet potatoes - which is delicious). Morning podcasts and I open up the work laptop. Since I’m awake I guess.
7:30am: Hotel room workout - I do yesterday’s workout from my gym, with a few modifications, but it still feels great to move after sitting in the car for so long! Shower afterwards, then food (Mexican Taco Bowl!) and work.
10:30am: Squuuuueeee it’s time for my tattoo. I double mask up, drive through for a Starbucks order ($4.74 - paid for on my Starbucks app with previously loaded funds) and head to the shop! I already paid my deposit and took advantage of a gift card sale before Christmas so I don’t owe anything additional today. We do linework, shading, and partial color. It’s going to take 2 appointments to do the full thing, so we make my next appointment for May (augh, I cannot wait!). My coverup is over black text, so a cover up involves a LOT of layering of color. I’m impressed that I still have stamina after not getting a tattoo for nearly 3 years.This is going to be BEAUTIFUL.
2:30pm: After my tattoo appointment, I make a quick stop at CVS (still double masked!) to pick up aquaphor, orange dial soap, ibuprofen, and toothpaste (cause naturally that’s the one thing I forgot to pack - d’oh) ($22.00). I make a curbside pickup order for Panera - another soup and salad combo ($10.55 - again paid for with gift cards!). I head back to my hotel room, eat, put on more podcasts (Planet Money, Can He Do That, Code Switch) and log onto work. An uneventful afternoon follows.
6:00pm: Facetime call with my mom, then dinner and various true crime documentaries on Netflix and Pinterest browsing because as per usual, now I want allll the tattoos. I also put in an order for a grocery pickup on my way home (coffee, coffee creamer, fruit, etc) ($66.82). I try to make a testing appointment through NYS for my return COVID test on Monday, but the automated system keeps putting me in the first available, which is Friday….I’ll try to schedule again on Friday so that the timing works. Bedtime tattoo routine of wash, aquaphor and ibuprofen, as well as a sheet face mask. Sleep around 10:00pm.
Daily Total: $104.11
Day 7: Thursday
6:00am: Welp, up and at em! I finish packing all my stuff, check out of the hotel and warm up the car. I head out around 7:00am. Top off the gas tank ($12.80) and I also add $15 to my Starbucks card and drive thru a Starbucks (Spinach Feta Wrap + Cafe Misto with almond milk). Then it’s time for podcasts and lots of driving. My mom had suggested a podcast from Serial - S*%*Town. IT’S AMAZING and this drive has never gone so fast!
11:00am: (or sometime around this time) Stop for gas ($27.01) and another Starbucks stop ($15 reload) to get another misto, a bottle of water, and a fruit/cheese/hard boiled egg box.
3:00pm: I was going to try to make it all the way without stopping for anything else, but my stomach is about to eat itself. I stop at a Tim Hortons about 45 minutes away from my parents’ house and get timbits and a hot chocolate (which is gross) ($6.66 - eeep). I get to my parents’ house - my mom and dad stay upstairs and in the basement respectively while I use the bathroom and retrieve a very happy pup. Once I get everything out to the car, my mom and dad come outside (double masked, as am I) and we quickly wave and air hug from a distance. On the way home, I drive through the grocery pickup and get my groceries.
5:30pm: Finally home. The dog is very happy to be home too - my mom said when she would come into the bedroom where he was, he would look at her and be - “oh…..just you…”. Such a momma’s boy :) Dinner is actual food (the rest of the kale sausage soup). I also put together a batch of cranberry almond biscotti (based off the Ina Garten cherry pistachio biscotti) - the apartment smells delicious. Settling in for post-travel isolation lol.
9:30pm: Melatonin gummies, tattoo upkeep, and then bedtime with the dog!
Daily Total: $76.47
Weekly Total: $505.50
Food & Drink: $326.64
Fun & Entertainment: $0
Home & Health: $22.00
Clothes & Beauty: $50.94
Transport: $105.92
Reflections:
First, GODDAMN I AM SO EXCITED TO PAY OFF THIS STUDENT LOAN. Just paid another $200 on it this morning, so we’re under $800!! If you hear an excited scream from the Western New York area next month, don’t worry, it’s just me.
Second, this was a higher spend week than usual, but I’m really proud to have budgeted for all of it. I had basically prepaid for the tattoo (on the gift card) and there’s still leftover for my next appointment. I had also budgeted and saved for the increased amount of gas and food.
Third, hopefully this isn’t too boring. My life pre-pandemic wasn’t terribly interesting, and it certainly isn’t now lol. I’m hoping to continue my debt payoff progress by finishing paying off my credit card debt in 2021, and start saving my 3-6 month emergency fund before starting that house down payment savings! I’m even starting to allow myself to start actually looking at Zillow.
I have been isolating since I got back - just drove through and got my COVID test, so fingers crossed for a quick reply!
Lastly, the coverup tattoo is going to be beautiful. I can’t wait for it to be finished!
Thanks for reading this whole thing!

Big list this month given the end of a year is a nice round deadline. Let me know if any expired early or if we missed any.
Source: https://everybankbonus.com Note - I trimmed some descriptions to fit the max char. count
Personal
[IN] Advance Financial Federal Credit Union Checking with Direct Deposit ($160) - Open a new checking account to get a $50 bonus. Register for and use online bill pay to get an additional $50. Sign up for direct deposit to earn $50. Sign up for eStatements and like the credit union's Facebook page for a final $10 bonus. Total bonus potential of $160. Exp Dec. 31, 2020 https://advancefcu.org/promotions/checking-promotion/
[TX] A+ Federal Credit Union Cash-Back Checking/Membership Savings ($50) - Use promo code 2020COM50: Receive a $10 bonus after opening your Membership Savings account. Receive a $40 bonus when you receive $800 or more in direct deposits each month within 60 days. Exp Dec. 31, 2020 https://aplusfcu.org/com50/
[Nationwide] American Airlines CU Checking ($100). - All active or retired airline employees and their family members can open a new checking account and earn $25 for each of the following activities within 60 days of account opening: complete $25+ in debit card spending, receive $250+ in direct deposits in the first two months, enroll in eStatements, and download the American Airline Credit Union mobile app. Exp Dec. 31, 2020 https://www.aacreditunion.org/banking/checking/checking-promo/
[AZ] Arizona Central Credit Union Checking ($200). Exp Dec. 31, 2020 https://www.azcentralcu.org/other-offers/special-member-offers/new-member-account-opening-promotions
[Nationwide] Bank of America Advantage Checking ($100). - Use promo code PSR100CIS: set up two $250 direct deposits within the first 3 months to get a $100 bonus. Exp Dec. 31, 2020 https://promo.bankofamerica.com/chooseyourchecking1/offe
[Nationwide] Bank of America Checking *TARGETED* ($300). - Set up $4,000 in cumulative direct deposits within the first 3 months to get a $300 bonus. Exp Dec. 31, 2020 https://promotions.bankofamerica.com/offers/2020 t33004k
[ME, NH, VT] Bar Harbor Bank & Trust Simple Checking ($100) - Request the coupon by filling out the form and click on ‘Email Me My Coupon’. Bring the coupon into a branch and open a new Simple Checking account. Complete a $250+ direct deposit by February 28, 2021 to earn a $100 bonus. Exp Dec. 31, 2020 https://www.barharbor.bank/checkingbonus418
[ID, OR, WA] BECU Checking and Savings ($200) (Seahawks Teammates) - Open a checking and savings accounts using promo code TEAMMATES200 during application. Within 60 days, complete 10 debit card transactions to earn a $200 bonus. Exp Dec. 31, 2020 https://www.becu.org/Partners/seahawks-teammates
[IL] Beverly Bank Total Access Checking ($300). - Beverly Bank subsidiary: open account with $100, enroll in ebanking and estatements, and complete 2 monthly direct deposits of at least $500. Exp Dec. 31, 2020 https://www.thebeverlybank.com/lp/2019/values.html
[OH] BMI FCU Free Checking ($150). - Enter promo code CHECK20 when applying online or in person. Sign up for eStatements and make 30 debit card transactions over $5 to get a $150 bonus. Exp Dec. 31, 2020 https://www.bmifcu.org/free_checking.html
[MO, OK] Central Bank Checking ($150, $250) - Open a checking account using promo code C150CM20 / C250CM20 and a $50 opening deposit. Within 90 days, complete 2 or more direct deposits for a $150 bonus. Exp Dec. 31, 2020 https://www.centralbank.net/150/ https://www.centralbank.net/get250/
[Nationwide] Chime Bank Referral Promotion ($75) – Get a $75 bonus when you have one direct deposit of at least $200 within 45 days of account opening. Exp Dec. 31, 2020 [Ask a friend for link]
[CA, IL] Citizens Equity First CU Checking ($125, $175) - Req's vary by bonus typeExp Dec. 31, 2020 $125 - https://www.cefcu.com/promos/checkingbonus $175 - https://www.cefcu.com/promos/specialpricing
[PA] Clearview FCU Basic or Absolute Checking ($300, $400, $500) – DD and Savings requirements vary by bonus. Exp Dec. 31, 2020 https://www.clearviewfcu.org/500-Offer
[IA] Collins Community CU Advantage Checking ($100) - Open a checking account with $50. Set up direct deposit within 60 days to receive a $100 bonus. Exp Dec. 31, 2020 https://www.collinscu.org/promotions/open-a-new-advantage-checking-account-and-get-a-100-bonus
[KS, OK] Communication Federal Credit Union Paycom ($100). - Use promo code PAYCOM, and within 90 days enroll in eStatements, receive direct deposits totally $1,500, and make fifteen debit card purchases of at least $5 to get a $100 bonus. Exp Dec. 31, 2020 https://www.comfedcu.org/paycom/
[KS, MO] CommunityAmerica CU Chiefs Checking ($150) - Open a Chiefs Checking checking account. Within 45 days: provide your email address, enroll in eStatements, and set up a direct deposit of at least $250 to earn a $150 bonus. Exp Dec. 31, 2020 https://www.communityamerica.com/chiefs-checking-special-offer-disclosures
[FL] Community First Credit Union Free Checking ($100) (UNF) - Students, faculty or staff of University of North Florida are eligible to earn a $100 bonus. All you need to do is open a free checking account, which requires a $25 opening deposit and $5 to become a member. Exp Dec. 31, 2020 https://www.unf.edu/Redesign1.aspx?id=75162083797
[FL, select counties] Community First CU Checking ($210) - Use promo code "CHK2020": set up a new debit card in the Save My Change Program to get a $25 bonus, set up a monthly direct deposit within the first month to get a $125 bonus, refer friends and family to get a $25 bonus, let the CU try to save you money on an auto loan or credit card to get a $25 bonus, and set up 2 automatic bill payments within the first month to get a $10 Amazon gift card. Total potential bonus of $210. Exp Dec. 31, 2020 https://info.communityfirstfl.org/free-checking-accounts
[KS] Credit Union of America Core Checking ($300) (Educators) - Open a Core checking account to earn a $100 Amazon gift card. Within 90 days complete a direct deposit of $500 or more to earn a $200 bonus. Exp Dec. 31, 2020 https://www.cuofamerica.com/Resources/Educators
[MA, RI] Dedham Savings Bank Checking w Billpay ($250). - Set up 2 direct deposits amounting to $1,000 and complete 2 online bill payments both within the first 2 months to get a $250 bonus. Exp Dec. 31, 2020 https://www.dedhamsavings.com/switch
[DC] Department of Labor FCU Checking (Up to $200). - Set up a $500 direct deposit within the first month (45 days) to get a $100 bonus. Complete 10 debit card purchases within the first 2 months to get an additional $100 bonus. Total potential bonus of $200. Exp Dec. 31, 2020 https://www.dolfcu.org/join-dolfcu/
[PA] Dollar Bank Everything Checking ($400). -Open an Everything checking account and receive a $100 reward after making $1,000 or more in direct deposits within 90 days. Receive an additional $100 after receiving $5,000 in direct deposits within 90 days of account opening. Finally, receive $100 within 2 months of the 1-year anniversary of your account opening. Exp Dec. 31, 2020 https://www.dollar.bank/Ads/$400-Checking-pa
[VA] Dollar Bank Great Checking ($400). - Open a Great checking account and receive $5,000 or more in direct deposits within 90 days to receive a $300 bonus. Keep account open for 1 year to receive an additional $100 bonus. Exp Dec. 31, 2020 https://www.dollar.bank/celebrate
[IN] Dyer Bank Statement Savings ($200) -Open a Statement Savings account. Maintain a $15,000 balance for the 3 consecutive calendar months following the calendar month your new account is opened to earn a $200 bonus. Exp Dec. 31, 2020 https://www.dyerbank.com/community.html
[IN] Dyer Bank Total Access Checking ($300) - Open account with $100, enroll in ebanking and estatements, and complete monthly direct deposits of $500 or more for two consecutive months. Exp Dec. 31, 2020 https://www.dyerbank.com/community.html
[IL] Elgin State Bank Cubs Checking ($300). - Elgin State Bank subsidiary: open account with $100, enroll in ebanking and estatements, and complete 2 monthly direct deposits of at least $500. Exp Dec. 31, 2020 https://www.elginstatebank.com/personal/banking-and-borrowing/checking/cubs-checking.html
[CO] ENT Credit Union Checking ($200). -Open a new checking account at the Twenty Mile Service Center or Cottonwood Service Center using promo code PARKER. Activate your debit card and make a deposit of $100 or more to receive a $200 bonus. Exp Dec. 31, 2020 http://www.parkerchamber.com/hotdeals/info/ent-credit-union-200-new-member-offer-01-19-2020
[CO] ENT Credit Union Checking ($200) [Available for all locations] - Open a new checking account, activate your debit card and make a deposit of $100 or more to receive a $200 bonus. Exp Dec. 31, 2020 https://www.ent.com/get200
[FL, GA, IL, IN, KY, MI, NC, OH, TN, WV] Fifth Third Bank Checking ($250) - Open a checking account after requesting your bonus promo code using the offer link below. Within 60 days, complete direct deposits totaling $1,000 or more for a $250 bonus. Exp Dec. 31, 2020 https://www.53.com/content/fifth-third/en/mkg/checking-offer.html#disclosures
[MN] Firefly Credit Union Checking ($250). - Use promo code GET250 and open a free checking account. Within 60 days, receive 2 or more direct deposits totaling at least $2,000 and complete 20 debit card purchases totaling at least $300 to receive a $250 bonus. Exp Dec. 31, 2020 https://www.fireflycu.org/Landing-Pages/250checking
[WA] First Financial Northwest Bank ($300) (Pierce County) - Visit one of the 2 First Financial Northwest Bank locations in Pierce county. Open a First Checking account, Enhanced Savings account, Premium Money Market account, and a CD to earn a $300 bonus. Enhanced Savings account requires a linked checking account that receives $250 in direct deposit or more each month. Exp Dec. 31, 2020 https://www.ffnwb.com/fall-promo/
[FL] First Home Bank Checking ($250) (Crunch Fitness Members) -Have an active Crunch Fitness membership and set up a monthly direct deposit to get a $250 bonus. Exp Dec. 31, 2020 https://www.firsthomebank.com/crunchoffe
[IL, IN, OH] First Merchants Advantage Checking ($100, $200, $400). – DD and debit card req’s vary. Exp Dec. 31, 2020 https://www.firstmerchants.com/muncie
[NM] First National 1870 Checking ($200) - Open a new personal checking account (Convenience, Spend & Sign & Save, Elite, Superb, Premier). Complete $500 in ACH credits or debits and complete 20 debit card purchases within the first month to get a $200 bonus. Exp Dec. 31, 2020 https://www.firstnational1870.com/Welcome200
[IA, NE] First Nebraska Credit Union Checking ($25, $75). -Set up a direct deposit, complete 10 debit card purchases, and enroll in estatements within the first 2 months to get a combined $75 bonus. Exp Dec. 31, 2020 https://firstnebraska.org/news/checking-promo-2020 /
[IL] First Northern Credit Union Checking/Savings ($210) - Open a checking and savings account using promo code BD2020. To earn the $210 bonus, you must direct deposit $250 bi-weekly into the checking account and $100 bi-weekly into the savings account. Each successful checking direct deposit will earn you a $25 bonus (maximum 6 within 90 days of account opening) and each savings direct deposit will earn you a $10 bonus (maximum 6 within 90 days of account opening). Total bonus of $210. Exp Dec. 31, 2020 https://www.fncu.org/specialoffe?scpage=1&scupdated=1&scorder=-click_count
[NY] Five Star Bank Checking ($150, $250 for Premier account) - Open an account and set up direct deposit 60 days from the last day of the month the account was opened to get a $250 bonus. Exp Dec. 31, 2020 https://www.five-starbank.com/banking/personal-banking/checking
[MN] Great River FCU Checking ($100) -Use promo code "St. Cloud Rox" and open a checking account. Within 60 days, complete one of the following: Set up direct deposit OR complete 5 debit card purchases to receive a $100 bonus. Exp Dec. 31, 2020 https://www.greatriverfcu.org/rox/
[AL, FL, LA, MO, TX] Hancock Whitney Bank Access Checking ($100) -Enter your email address on the form, and receive a promo code. Bring the promo code to your nearest financial center. Set up and receive a qualifying monthly direct deposit of at least $250 within 90 days to receive a $100 bonus. $20 service charge if account is closed within the 180 days. Exp Dec. 31, 2020 https://www.hancockwhitney.com/mychecking100ac-20
[AL, FL, LA, MO, TX] Hancock Whitney Bank Priority Checking ($300) -Use the link to get unique promo code. by 12/31/2020. By 2/28/2021, set up and receive a qualifying monthly direct deposit of at least $250 per deposit to earn a $300 bonus. Exp Dec. 31, 2020 https://www.hancockwhitney.com/mychecking300pc-20
[IA, MN] Home Federal Savings Bank Checking ($250). - Set up a $500 direct deposit within the first 2 months to get a $150 bonus. Register debit card with CardValet app to get a $50 bonus. Complete 15 debit card purchases via mobile wallet within the first 45 days to get a $50 bonus. Total potential bonus of $250. Exp Dec. 31, 2020 https://www.justcallhome.com/HighFive
[MI] Honor CU Kalamazoo Checking ($250) -Open a new Honor Benefits or Connect checking account with $25 minimum deposit. Add a direct deposit totaling at least $100 per month within 60 days of opening your new account. Bonus amount of $250 will be paid within 30 days of direct deposit requirement. Exp Dec. 31, 2020 https://www.honorcu.com/kalamazoo/
[IL] Hyde Park Bank White Sox Checking ($300). – Wintrust Bank subsidiary: Open account with $100, enroll in online banking, activate e-statements and have direct deposits totaling $500 each month for 2 consecutive calendar months after the calendar month your new account was opened. Exp Dec. 31, 2020 https://www.hydeparkbank.net/personal/banking-and-borrowing/checking/white-sox-checking.html
[Nationwide] Incredible Bank Chill Checking (1-Year Netflix Subscription, $203.40 Value) - College students are eligible to have their Netflix subscription reimbursed when they open a Chill Checking account. To be eligible for your Netflix subscription reimbursement, you must be 18+ and present a valid college student ID, have your Netflix subscription charged to your debit card, and make at least 5 debit card purchases each month. Exp Dec. 31, 2020 https://www.incrediblebank.com/chillchecking
[MO] Jefferson Bank Checking ($150) – Use promo code C150CM20 and open one of the following eligible accounts: MyChoice Checking, MaxMoney Checking, Free Checking, Preferred Interest Checking, or World Checking. Within 90 days complete 2 direct deposits to earn a $150 bonus. Exp Dec. 31, 2020 https://www.jefferson-bank.com/150/
[MO] Jefferson Bank Checking ($250) - Use promo code C250CA20 and open one of the following eligible accounts: MyChoice Checking, MaxMoney Checking, Free Checking, Preferred Interest Checking, or World Checking. Within 90 days complete 2 direct deposits that total $500 or more to earn a $250 bonus. Exp Dec. 31, 2020 https://www.jefferson-bank.com/250/
[NY] Jovia Financial CU Go Green Checking ($150) - Open a Go Green Checking account with a $100 opening deposit. Within 60 days, complete a direct deposit of $100 or more to earn a $150 bonus. Exp Dec. 31, 2020 https://www.joviafinancial.com/promotions#checking
[CA] LBS Financial Credit Union Checking ($100) - Open a checking account using promo code Marina2020. Within 60 days, set up a $100 direct deposit to earn a $100 bonus. Exp Dec. 31, 2020 https://www.lbsfcu.org/new-members/
[CT, MA, RI] Liberty Bank Student Checking ($100). - Complete 5 debit card purchases within the first 2 months to get a $100 bonus. Exp Dec. 31, 2020 https://www.liberty-bank.com/personal/banking/checking-accounts-debit-cards/student-banking
[IA] Linn Area CU Free Checking ($50). - Use promo code "50FORME": enroll in online banking and estatements to get a $50 bonus. Exp Dec. 31, 2020 https://www.linnareacu.org/promotion/get-free-checking-get-50/
[IA] Linn Area CU Free Checking w Direct Deposit ($50). - Use promo code "50FORME": set up direct deposit to get a $50 bonus. Exp Dec. 31, 2020 https://www.linnareacu.org/promotion/get-free-checking-get-50/
[MD] LM Federal Credit Union RegulaInterest Checking ($100) - Open a regular or interest checking account. Within 45 days, complete 5 debit card transactions. Within 30 days, complete a direct deposit of $500 or more to earn a $100 bonus. Exp Dec. 31, 2020 https://www.lmfcu.org/About-LM/News-Promotions/Promotions/Open-a-New-Checking-Account
[MO] Members First Credit Union Checking ($100) - Open a checking account and receive a $100 bonus after signing up for direct deposit, eStatements, and a debit card. Exp Dec. 31, 2020 https://townplannerstl.com/members-1st-coupons/
[MI] Michigan Schools & Government CU Checking ($200) - Open a Regular or Fresh Start checking account with $25. Within 60 days, sign up for eStatements and receive a direct deposit of $100 or more to earn a $200 bonus. Exp Dec. 31, 2020 https://www.msgcu.org/checking-offer
[AZ] Midfirst Bank Checking ($150) - Open a new checking account and complete two of the following three activities within 90 days to earn a $150 bonus: Set up a $250 minimum direct deposit, complete 10 debit card purchases, and complete three Zelle® transactions on the MidFirst Bank Mobile Banking App Exp Dec. 31, 2020 https://fe37157075640475711077.pub.s10.sfmc-content.com/0dbtkoz15gm
[AZ] MidFirst Bank Checking ($250) - Open a new checking account and complete two of the following three activities within 90 days to earn a $300 bonus: Set up a $250 minimum direct deposit, complete 10 debit card purchases, and complete three Zelle® transactions on the MidFirst Bank Mobile Banking App Exp Dec. 31, 2020 https://fe37157075640475711077.pub.s10.sfmc-content.com/zxvj5wjsju2?utm_campaign=vanity&utm_source=midfirst.com%2f%2flive250az&utm_medium=vanity
[NY] Mid-Hudson Valley FCU Checking ($200) - Use promo code GETAPPLE200 when opening a new account. Set up direct deposit of $500 or more within 60 days of opening account for a $200 cash bonus. Choose FREE CHECKING account for no fees. Exp Dec. 31, 2020 https://www.mhvfcu.com/$200-checking-offer
[CO, FL, MN, WI] MidWestOne Bank Power Checking ($225) - Power Checking account must be opened online using or redeemed in-person by presenting offer code at time of account opening. You will receive the $225 deposit into your Power Checking account within 15 business days once you have qualified for Power Checking rewards in one of the first three Power Checking statement cycles after account opening. Power Checking Qualifications: Have at least one direct deposit, automatic debit from a third party, or Online Bill Pay post and clear. Receive electronic statements. Have at least 15 Debit Card purchases post and clear. Exp Dec. 31, 2020 https://www.midwestone.bank/promotions/2020/power-checking-225
[WI] Monona Bank True Checking ($300) - Open a True Checking account with $100. Sign up for two of the following services: online/mobile banking, debit or credit card, bill pay, or other options. Set up direct deposit and complete 5+ transactions a month and your bonus will be deposited to your account within 90 days after you complete these steps. Exp Dec. 31, 2020 https://bloximages.chicago2.vip.townnews.com/madison.com/content/tncms/assets/v3/classifieds/9/9c/99c41ee2-3d83-5258-82d5-ab4c7ff1d803/5ee7fd75d935b.pdf.pdf
[IL] Old Second Bank Checking and Money Builder Savings ($200) - Use promo code EM2: get a debit card and enroll in estatements to get a $50 bonus. Earn a $100 bonus after completing two $500 direct deposits. Earn an additional $50 bonus when you meet both of the above requirements and open a Money Builder Savings account and deposit $5,000 within 90 days. Exp Dec. 31, 2020 https://www.oldsecond.com/personal-banking/200-checking-savings-special-em/
[MI] Our Credit Union Premium Checking ($100) - Matching deposit up to $100 for new Premium Checking account. Have at least one debit card transaction per month over 60 days. Must sign up for eStatements and complete a monthly direct deposit of $500 or more for 2 months. Must mention ad for matching deposit when opening. Exp Dec. 31, 2020 https://www.ourcuonline.org/join
[CA] Paradise Valley FCU Checking ($150) - Open a checking account with a debit card and make 5 debit card purchases within 60 days to receive a $100 bonus. Additionally set up and make at least 1 recurring direct deposit to earn another $50. Exp Dec. 31, 2020 https://www.paradisevalleyfcu.org/earn-100-dollars/
[PA] Pennsylvania State Employees CU Checking ($150). - Use promo code "FS150": set up a monthly $300 direct deposit within the first 3 months to get a $150 bonus. Exp Dec. 31, 2020 https://www.psecu.com/150
[NE, Beatrice locations] Pinnacle Bank Diamond Secure Account ($200) - Earn $50 for completing each of the following: open a NEW Diamond Secure Account, make two direct deposits, make at least 20 debit card purchases, open a NEW PinnSavings Account. Total bonus amount of $200 if you complete all four. Must be opened at on of the Beatrice Locations. Exp Dec. 31, 2020 https://bloximages.chicago2.vip.townnews.com/beatricedailysun.com/content/tncms/assets/v3/classifieds/f/ed/fed38a21-ce2c-5806-8010-bcf35ab3314b/5f04d447c6aa1.pdf.pdf
[Nationwide] PNC Virtual Wallet ($50, $200, $400)- Within sixty days of account opening, make cumulative direct deposits of at least $500 / $2,000 / $5,000 to get the bonus. Exp Dec. 31, 2020 https://www.pnc.com/en/personal-banking/virtual-wallet-overview.html
[FL, mainly Southern FL] Power Financial CU Checking ($100) - Set up direct deposit OR have an initial deposit of $500 to get a $100 bonus. Membership with the credit union required, as well as keeping the account open for 90 days. Must open a savings account as well. Exp Dec. 31, 2020 https://www.powerfi.org/about-us/important-member-information/promotions/
[IN] Purdue FCU Checking ($150) - Open a new checking account at the Crown Point branch or online with a Lake or Porter County zip code. Sign up for a debit card and eStatements. Make 10 member initiated transactions. Finally, make 2 direct deposits of $500 or more each within 90 days of account opening to receive a $150 bonus. Exp Dec. 31, 2020 https://www.purduefed.com/site/welcome-crown-point/checking-bonus/
[WI] PyraMax Bank Checking ($125) - Open new Personal Checking account with promo code 125FREE and receive a $125 bonus after making a direct deposit of $250 or more a month for the first 3 months after the account is opened. Exp Dec. 31, 2020 https://www.pyramaxbank.com/banking/checking/
[MA] Reading Cooperative Bank - Earn a $50 cash bonus when you open a personal checking account with $10 deposit and set up direct deposit. Earn another $50 cash bonus with you set up online bill pay. Exp Dec. 31, 2020 https://readingcoop.com/50-50/
[FL, IN, KY, TN] Republic Bank Checking ($100, $200). - Use promo code LX1/LX2: set up a $100 direct deposit within the first 3 months to get a $100 bonus. Complete 50 debit card purchases to get an additional $100 bonus within the first 3 months. Total potential bonus of $200. Exp Dec. 31, 2020 https://tech.republicbank.com/
[MA] Rockland Trust Bank Checking ($250) (Worcester Branch) - Visit the Rockland Trust Bank location in Worcester, Massachusetts and open a personal checking account. Within 90 days, have at least 4 deposits totaling $2,000 or more. These deposits do not have to be direct deposits. The bonus will be paid directly to your account by April 30, 2021. Exp Dec. 31, 2020 https://www.rocklandtrust.com/worcester-branch-now-open
[CA] SAFE Credit Union Checking ($150, $250, $400) - Open a Perfect Cents checking or Prestige checking account with $25. Make 30 debit card purchases within the first 90 days to earn a $150 bonus. Make three direct deposits of $1,000 each or more in the first 120 days to earn a $250 bonus. Total bonus potential of $400. Exp Dec. 31, 2020 https://www.safecu.org/Financially-Fit-Checking
[CT, DE, MA, NH, NJ, NY, PA, RI] Santander Bank Simply Right Checking ($225) - Enter email and name to get unique promo code: set up a cumulative $1,000 direct deposit within the first 3 months to get a $225 bonus. Exp Dec. 31, 2020 https://www.santanderbank.com/us/pages/personal/checking-accounts-acq
[FL] Seacoast Bank Premium Checking/Savings ($150, $250, $400) - Open a Premium Checking account with $50 and a Savings Account using offer code DM400. To earn the $250 checking bonus, complete a direct deposit of $500 or more within 60 days of account opening. To earn the $150 savings account bonus, deposit a total of $15,000 or more within 10 business days of account opening and maintain said balance for 90 days. Exp Dec. 31, 2020 https://www.seacoastbank.com/switchtoday
[WA] Sound Credit Union IRA Transfer Bonus ($100) - Transfer an IRA or roll over a 401k with a minimum balance of $25,000 to a new IRA with CUSO Financial Services within 45 days and get a $100 Visa gift card. Exp Dec. 31, 2020 https://www.soundcu.com/life-and-finances/open-ira-get-100/
[WA] Sound Credit Union Sound Checking ($150) - Open a Sound Checking account. Within 90 days, receive at least one direct deposit of $500 or more to earn a $150 bonus. Exp Dec. 31, 2020 https://www.soundcu.com/life-and-finances/theres-150-reasons-to-switch-to-sound/
[MN, WI] Spire Credit Union Free Checking ($100) - Open a Spire Free Checking account with an opening deposit of $100 or more. Set up an automatic payment or direct deposit and complete 6 debit card transactions within 60 days to receive a $100 bonus. Account must remain open for six months. $100 bonus will be deposited to the checking account upon account opening. Exp Dec. 31, 2020 https://www.myspire.com/about-spire/current-promos
[NY, OH, PA] S&T Bank Checking ($350) - Open a Preferred, Select, or Four Star checking account online to receive a $50 bonus. Sign up for online statements, deposit $500 to the account within 10 days, and make ten $10 qualifying debit card transactions to receive a $100 bonus. All accounts must maintain a $500 balance for the entirety of the bonus process to be eligible for any rewards. Finally, receive a $200 bonus for keeping the account active for 6 months. Exp Dec. 31, 2020 https://www.stbank.com/money-tree-promotion
[AZ, CO, KS, MO, NM, TX] Sunflower Bank Checking ($200) - Open a new personal checking account. Complete 20 debit card purchases AND have ACH credits or debits totaling $500 or more that all post to the account on or before 1/31/21. Exp Dec. 31, 2020 https://www.sunflowerbank.com/Welcome200
[Tom Green County, TX] Texas Trust CU Checking ($150) - Use promo code 8009: set up one $500 direct deposit OR make 10 debit card transactions totaling $100 within a 35 day period within 90 days after account opening. Your account must remain open with a positive balance. Exp Dec. 31, 2020 https://www.texastrustcu.org/MyBankLeftMe/
[MN, WI] Thrivent Federal Credit Union Rewards Checking ($200) - Open a Rewards Checking account using promo code 2020CHECKING and within 90 days complete the following activities: sign up for online banking, enroll in eStatements, make 20 debit card purchases. Direct deposit a minimum of $500 total to receive $100, direct deposit a minimum of $2,500 total to receive an additional $100. Exp Dec. 31, 2020 https://info.thriventcu.com/checking-bonus-2020
[MD] Tower Federal Credit Union Prime Share ($100) - Establish a membership with Tower FCU using promo code 100GPS20 and $100 will be deposited to your Prime Share account. Minimum balance to open is $5. Exp Dec. 31, 2020 https://www.towerfcu.org/the-tower-difference-100gps/
[WI] Town Bank Statement Savings ($200, $300) – Varies by account type. Exp Dec. 31, 2020 https://www.townbank.us/community.html
[ND] Town & Country CU Star Rewards Checking ($100). - Set up a $250 direct deposit within the first month to get a $100 bonus. Exp Dec. 31, 2020 https://www.townandcountry.org/content/star-rewards-checking-100-new-account-offer
[AZ] Vantage West CU Premium Rewards Checking ($200) - $100 bonus + 10,000 Rewards Points (a $100 cash value) for new Members who open a Vantage West Premium Rewards checking account, set up a $500 Direct Deposit within 60 days, and use their debit card once. Exp Dec. 31, 2020 https://vantagewest.org/get200/
[WI] Waukesha State Bank Checking ($100) - Open a checking account using promo code DDA100GEO20 and deposit at least $100 to receive a $100 bonus. Exp Dec. 31, 2020 https://www.waukeshabank.com/commyounity-testimonials-6
[CT, MA, NY, RI] Webster Bank Checking ($250 + $250 Donation) - Use the link to the offer below and open a WebsterOne Relationship Checking account. Within 90 days, complete a direct deposit of $500 or more OR complete 20 debit card transactions to receive a $250 bonus. Webster Bank will also donate $250 to the Hartford HealthCARES Colleague Assistance Fund. Use promo code $250WEBONE-HHC-HEROES Exp Dec. 31, 2020 https://public.websteronline.com/offers/hartford-healthcare-frontline-heroes
[CA] Wescom CU Checking ($250) - Open a Wescom Checking Account with a $100 deposit and maintain this balance for your first full calendar month after opening to earn a $100 bonus. Use your debit card at least twice a month for two consecutive months to earn $50. Finally, make a qualifying direct deposit of $500 or more for two consecutive months and get $100. Exp Dec. 31, 2020 https://wescom.org/welcome/?utm_source=wescomtogether2020 &utm_medium=socialads-500offer&utm_campaign=Grail
[OH] Westfield Bank Dream Big Checking with Savings ($100) - With $250, set up a monthly recurring direct deposit for a $100 bonus. Exp Dec. 31, 2020 https://www.westfield-bank.com/promo-switch-bonus
[IL] Wheaton Bank & Trust Total Access Checking ($300). - Wheaton Bank & Trust subsidiary: open account with $100, enroll in ebanking and estatements, and complete 2 monthly direct deposits of at least $500. Exp Dec. 31, 2020 http://wheatonbank.com/personal/banking-and-borrowing/checking/total-access-checking.html
[MN] Wings Financial CU Checking ($300) - Set up a $300 direct deposit, complete 5 debit card purchases of $5 or more, and enroll in estatements within the first 2 months to get a $300 bonus. Exp Dec. 31, 2020 https://www.wingsfinancial.com/300-checking
[IL] Wintrust Bank Northwestern Wildcats Checking ($300) - Open a Wildcats Checking account with $100. Have monthly occurring direct deposits totaling $500 or more for 2 consecutive calendar months after your account was opened and enroll in online banking and active e-statements to get a $300 bonus. Exp Dec. 31, 2020 https://www.wintrust.com/personal-solutions/bank-with-us/checking/northwestern-checking.html
[FL, IL] Wintrust Bank Bonuses ($200, $300)- Checking and savings bonuses, varies by account type and amount. Exp Dec. 31, 2020 https://www.wintrustflorida.com/community.html
[CA] Yolo Federal Credit Union Checking ($150) - Open a Simply or Student Checking account. Within 45 days, enroll in eStatements, make 5 or more purchases of $10 or more with your debit/credit card. Complete one of the following: have ACH or direct deposits totaling $500 or more, OR establish an aggregate loan relationship of $5,000 or more to earn a $150 bonus. Exp Dec. 31, 2020 https://www.yolofcu.org/accounts/checking/bonus-checking-offe
Business
(leaving out descriptions because of character count)
[MS, NC, SC, TN, TX, VA] First Horizon Bank BizEssentials Savings ($150) Exp Dec. 31, 2020 https://www.firsthorizon.com/sb150
[MS, NC, SC, TN, TX, VA] First Horizon Bank Business Checking & Savings ($300, $450) Exp Dec. 31, 2020 https://www.firsthorizon.com/landing/business/300-bize-checking-landing-bzd300
[Nationwide] HSBC Fusion Business Checking Bonuses ($200, $300, $400) Exp Dec. 31, 2020 https://www.us.hsbc.com/fusion/
[CT, MA, RI] Liberty Bank Business Checking ($100). Exp Dec. 31, 2020 https://www.liberty-bank.com/personal/promotions
[IL] Old Plank Trail Bank Entrepreneur Checking ($300) Exp Dec. 31, 2020 https://www.oldplanktrailbank.com/lp/2020/business-working-capital.html
[CT, DE, MA, NH, NJ, NY, PA, RI] Santander Bank Business Checking ($320) Exp Dec. 31, 2020 https://www.santanderbank.com/us/pages/business/bizcashbonus
[IL] St. Charles Bank Entrepreneur Business Checking ($300) Exp Dec. 31, 2020 https://www.bankstcharles.com/lp/2020/business-working-capital.html
[AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, WV, DC] SunTrust Business Checking ($200) Exp Dec. 31, 2020 https://www.suntrust.com/lp/open-small-business-checking-account
[AZ] Vantage West CU Business Checking ($200) Exp Dec. 31, 2020 https://vantagewest.org/bus-getrewarded/

As we continue to monitor developments surrounding the coronavirus (COVID-19), MiraMed will update our client-partners as appropriate. Accordingly, we wish to pass on to you the following legislative update from Grant Thornton, which we hope you will find helpful during this time of uncertainty.
Tax Legislative Update
Breaking news from Capitol Hill From Grant Thornton's Washington National Tax Office
March 25, 2020 2020-03
Lawmakers agree on historic stimulus bill Lawmakers are close to completing a massive stimulus package that will offer deep tax relief to both businesses and individuals. Republican and Democratic leaders negotiated the compromise bill together, and it is expected to be enacted despite some last minute disagreements over unemployment insurance. The tax title is largely settled but technical or other last-minute changes remain possible.
The bill is a $2 trillion combination of both tax provisions and other stimulus measures, including emergency business lending. The tax package itself is broad, with payment tax relief, significant business tax incentives, several long-sought technical corrections to the Tax Cuts and Jobs Act (TCJA), and individual tax cuts and rebate checks. The business tax changes will allow for immediate refunds in many cases and should provide considerable cash flow relief. The most significant business provisions include:

• Allowing net operating losses (NOLs) arising in 2018, 2019 and 2020 to be carried back five years and suspending the 80% taxable income limit until 2021
• Increasing the taxable income threshold for the Section 163(j) limit on the interest deduction from 30% to 50% for tax years beginning in 2019 and 2020 and allowing taxpayers to use 2019 taxable income to calculate the 2020 limit
• Allowing corporations to claim refunds for all remaining AMT credits in 2018 and 2019
• Correcting an error in TCJA that prevented qualified improvement property (QIP) from qualifying for 100% bonus depreciation
• Suspending payment requirements for the 6.2% employer portion of Social Security taxes from the date of enactment through the end of 2020, with half the balance due by the end of 2021, and the other half due by the end of 2022
• Creating a new refundable employee retention credit of up to $5,000 for paying wages while business operations are suspended, or if gross receipts for a business drop by 50%
• Increasing the taxable income limit on corporate charitable deductions from 10% to 25% and contributions of food inventory from 15% to 25%
• Suspending the limit on excess business loss deductions under Section 461(l) in 2018, 2019 and 2020 so that it takes effect for the first time in 2021

The final version of the legislation dropped provisions from the initial Senate Republican proposal that would have fixed TCJA issues on Section 965 overpayments and the downward attribution rules of former Section 958(b)(4). Lawmakers also removed a provision with statutory relief for certain tax filing and payment obligations, which would have potentially broadened the relief offered by the IRS so far.
The centerpiece of the individual tax title would offer rebate checks based on a new tax credit of $1,200 per filing adult and $500 for each qualifying child. The credit begins to phase out at an adjusted gross income (AGI) of $75,000 (single), $112,500 (head of household) or $150,000 (joint), but it is made fully refundable in the final bill, unlike prior versions. Other provisions for individuals include:

• Waiving early withdrawal penalties for up to $100,000 in COVID-19-related withdrawals from qualified retirement accounts, and allowing it to paid back or included ratably in income over three years
• Doubling the amount taxpayers can borrow from certain qualified retirement accounts to $100,000
• Suspending required minimum distributions for 2020
• Allowing an above-the-line deduction for up to $300 in charitable contributions for taxpayers who do not itemize deductions in 2020
• Removing the AGI limit on individual itemized deductions for charitable contributions in 2020
• Excluding employer student loan repayment assistance of up to $5,250 from income in 2020
• Permanently restoring the ability for taxpayers to use health savings accounts and flexible spending arrangements to purchase over-the-counter medicine

The bill would also suspend all aviation excise taxes and the fuel excise taxes on aviation kerosene from the date of enactment through the end of 2020 and provide an exception to alcohol excise taxes for alcohol used to make hand sanitizer.
IMPACT
Many of the provisions will provide tremendous cash flow relief. The suspension of the employer portion of Social Security taxes is particularly powerful, and most of the other provisions are also designed to provide quick access to cash. Taxpayers will have various options for claiming many of the benefits, including amending 2018 returns, using 2019 returns, or filing for a tentative refund. Taxpayers should assess their options carefully before acting, as different filing positions can affect when a taxpayer receives a benefit and the ultimate size of the benefit. The following provides more details on the provisions.
BUSINESS BENEFITS
NOL carrybacks The legislation provides that NOLs arising in tax years beginning after Dec. 31, 2017, and ending before Jan. 1, 2021, can be carried back for five years. The limitation allowing NOLs arising in tax years beginning after 2017 to offset only 80% of taxable income will be temporarily suspended for tax years beginning before 2021. But when the suspension is lifted, the bill also codifies a less favorable application of the rules for stacking NOLs subject to the 80% limit with pre-TCJA NOLs that are not subject to the limit. The bill also fixes a technical error in TCJA that prevents NOLs arising in a tax year ending in 2018 from being carried back.
The NOL carrybacks will not be allowed to offset the Section 965 inclusion for the one-time repatriation tax. It appears the NOLs will still be allowed against other income in the inclusion year, but taxpayers will have the option to elect to forgo applying the carryback to that year.

Grant Thornton Insight: Lawmakers declined to add a "haircut" requiring corporate NOL carrybacks to be applied using the current 21% rate or to require individuals to use the current 37% rate. The ability to carry back current NOLs to pre-TCJA years will offer a tremendous opportunity for corporations to use deductions and losses against a 35% corporate rate. Accelerating deductions from a future year into a year allowing the carrybacks could result in a permanent benefit due to the difference between the 21% rate and 35% rate.

AMT credits The legislation allows corporations to immediately claim unused AMT credits. The TCJA had repealed the corporate AMT and provided that any unused AMT credits could be claimed as refundable credits over the four tax years beginning in 2018, 2019, 2020 and 2021. The legislation provides that the credits can be claimed fully in the tax years beginning in 2018 and 2019.

Grant Thornton Insight: Taxpayers should have already recovered 50% of their AMT credits during the tax year beginning in 2018. The mechanics of the statutory change will allow taxpayers to claim the remaining 50% on the 2019 return or to amend the 2018 return and claim the remaining 50% with a 2018 refund claim. The statute also provides for recovering the benefit using a tentative refund claim.

Interest limitation The legislation allows taxpayers to make an election to limit their deduction for net business interest under Section 163(j) to 50% of taxable income instead of 30% for tax years beginning in 2019 and 2020. Taxpayers can elect out of this treatment. In addition, the bill adds an election to allow taxpayers to use their taxable income for 2019 to calculate their limit for 2020. Both elections must be made at the partnership level. In addition, 50% of excess business interest allocated to a partner in the tax year beginning in 2019 will be reclassified as business interest expense and not subject to the limit at the partner level in 2020 unless the partner elects out.

Grant Thornton Insight: The IRS is very close to releasing final and proposed regulations under Section 163(j), which could also affect the calculation and should be factored into decisions on the elections.

QIP technical correction The legislation retroactively provides that QIP is eligible for bonus deprecation as if enacted originally in TCJA. An error in the legislative language of the TCJA omitted QIP from the list of 15-year property, meaning that it did not qualify for 100% bonus depreciation, and must be depreciated over 39 years. This change will reverse that error.

Grant Thornton Insight: The definition of QIP created by TCJA is incredibly broad and applies to almost any improvement to the interior of leased or owned space. It's particularly important to the retail and hospitality industries, but almost any business that makes building improvements will qualify. The change is made retroactive as if included in TCJA, so taxpayers will likely have the option of amending prior returns to claim the benefit or to take the benefit on their next return with an accounting method change.

Business loss limitation The legislation provides that the limit on deducting businesses losses in excess of $250,000 (single) or $500,000 (joint) under Section 461(l) would be temporarily repealed retroactive to 2018, not taking effect until 2021. The legislation clarifies some technical uncertainties, providing that NOLs themselves are not considered excess business losses and that employee wages are not used in the calculation. It also provides that business capital losses are not be included in the calculation so they will no longer be converted into future NOLs.

Grant Thornton Insight: Taxpayers may have filing options to claim the benefit of this change. Taxpayers could amend their 2018 returns to remove the limitation for that year, but the provision essentially creates a one-year deferral by turning the excess business loss into an NOL. This means taxpayers would also be in a position to simply use the NOL in the 2019 tax year. Whether this would be allowable is unclear considering that the provision that created the NOL was retroactively made inoperative.

Payroll tax relief The legislation allows employers to defer deposits of the 6.2% employer portion of the Social Security tax for Old Age, Survivors, and Disability Insurance (OASDI) from the date of enactment through the end of the year. Half of the deferred payment amount is due by Dec. 31, 2021, with the other half due by Dec. 31, 2022. Individuals paying self-employment tax are provided with equivalent relief.

Grant Thornton Insight: The combination of this statutory relief from payroll tax payment obligations and the IRS's recent administrative relief for income and estimated payments due on April 15 is almost unprecedented and will provide significant cash-flow flexibility.

​Employee retention credit
The legislation creates a 50% credit for paying up to $10,000 in employee wages for a business that was fully or partially suspended due to a government order or that saw a 50% reduction in gross receipts for the first quarter beginning in calendar 2020 compared to the same quarter in the prior year. Wages remain eligible until business is no longer suspended or gross receipts for a quarter reach 80% of the prior year. The legislation does not expand on the meaning of "partially suspended."
For employers with more than 100 full-time equivalent employees, only wages paid when the employee was not providing services are eligible. For employers with 100 or fewer full-time equivalent employees, any wages when a business was fully or partially suspended or during the quarter of its gross receipts reduction are eligible. Wages also include properly allocable health plan expenses. The 100-employee threshold is determined under the Affordable Care Act (ACA) rules in Section 4980H for determining whether the shared responsibility payments apply.
The credit is allowed against payroll taxes and is not available for any wage payments related to the new requirement for paid leave and sick pay. Tax-exempts can claim the credit based on a full or partial suspension of a trade or business.

Grant Thornton Insight: This version of the employee retention credit is considerably different than other versions offered after natural disasters in the past. Those versions allowed a credit for paying employees whose principal work location was inoperable, regardless of whether the employee worked somewhere else. Under this credit, employers with more than 100 full-time equivalent employees will be required to establish that the employees provided no services for their wages while the business was suspended or gross receipts dropped. On the other hand, unlike prior versions, this provision does not disqualify wages from counting toward both this credit and the work opportunity tax credit. However, wages cannot count toward this credit and the Section 45S credit for paid family and medical leave. The credit is also not available for taxpayers taking small business interruption loans under the stimulus bill.

​INDIVIDUAL TAX RELIEF
Tax credit rebates The legislation creates a tax credit of $1,200 for each filing adult who is not someone else's dependent and $500 for each qualifying child. The credit begins to phase out at the adjusted gross income of $75,000 (single), $112,500 (head of household) or $150,000 (joint), and it is fully refundable in the final bill. Treasury is instructed to issue rebates "as rapidly as possible" and can rely on either 2018 or 2019 returns.
Early withdrawals and required minimum distributions The legislation waives early withdrawal penalties for up to $100,000 in COVID-19-related withdrawals from qualified retirement accounts. The taxpayer has the option of repaying the amount and incurring no tax. If the taxpayer does not repay it, the income is included ratably over three years beginning with the year of the withdrawal. Individuals may make eligible distributions if they are diagnosed with COVID-19, have a spouse or dependent diagnosed with COVID-19, or suffer adverse financial consequences from a quarantine, layoffs or reduced hours due to business issues or lack of childcare. The legislation separately raises the limit on borrowing from an account from $50,000 to $100,000 (with the 50% vested accrued benefit limit also doubled), so taxpayers could, in some circumstances, temporarily withdraw as much as $200,000 from an account. The legislation would also suspend RMDs for Section 401(k), 403(b), and certain 457(b) plans.
Charitable giving The bill allows an above-the-line deduction for up to $300 in charitable contributions of cash for taxpayers who do not itemize deductions in 2020. For taxpayers who do itemize, the bill removes the AGI limit on deductions for charitable contributions of cash in 2020. Contributions to donor-advised funds do not qualify.
Healthcare change The bill would permanently expand reimbursable expenses for HSAs and FSAs to again include over-the-counter medicine, reversing a change from ACA. Menstrual products would also be added to the list of reimbursable expenses. In addition, the bill would ease restrictions on direct primary care service and telehealth services with HSA high-deductible plans.
NEXT STEPS
Lawmakers clearly prioritized immediate relief and cash flexibility. Most of the provisions are designed to provide quick access to cash, and taxpayers will have various options for claiming many of the benefits, including amending 2018 returns, using the 2019 return, or filing for a tentative refund. There may also be opportunities to enhance benefits by pairing the new incentives with other tax planning, especially regarding NOL carrybacks. Taxpayers should assess their options carefully before acting, as different filing positions can affect when a taxpayer receives a benefit and the ultimate size of the benefit.
To learn more visit gt.com/tax
Tax professional standards statement
This content supports Grant Thornton LLP's marketing of professional services and is not written tax advice directed at the particular facts and circumstances of any person. If you are interested in the topics presented herein, we encourage you to contact us or an independent tax professional to discuss their potential application to your particular situation. Nothing herein shall be construed as imposing a limitation on any person from disclosing the tax treatment or tax structure of any matter addressed herein. To the extent this content may be considered to contain written tax advice, any written advice contained in, forwarded with or attached to this content is not intended by Grant Thornton LLP to be used, and cannot be used, by any person for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.
The information contained herein is general in nature and is based on authorities that are subject to change. It is not, and should not be construed as, accounting, legal or tax advice provided by Grant Thornton LLP to the reader. This material may not be applicable to, or suitable for, the reader's specific circumstances or needs and may require consideration of tax and nontax factors not described herein. Contact Grant Thornton LLP or other tax professionals prior to taking any action based upon this information. Changes in tax laws or other factors could affect, on a prospective or retroactive basis, the information contained herein; Grant Thornton LLP assumes no obligation to inform the reader of any such changes. All references to "Section," "Sec.," or "§" refer to the Internal Revenue Code of 1986, as amended.
© 2020 Grant Thornton LLP | All rights reserved | U.S. member firm of Grant Thornton International Ltd
We hope the information contained in this announcement has been helpful. We at MiraMed stand with you and will continue to update you as events warrant. As always, should you have any questions for us, please email us at [[email protected]](mailto:[email protected]).