Bumped: one year later

Bumped was founded in 2017 by David Nelsen. Bumped is a rewards program designed on the “beliefs that everyone deserves to be an owner, and brands deserve a reward that builds over time”. This idea is done by making purchases at select stores and receiving shares in the company or products. The rewards back in stocks can range from half a percent to five percent. This way of micro-investing and returns help build a long term investment for an individual. People that may either have trouble understanding investing or even my have a hard time making the funds or having the finances to begin investing. Companies that are on board with this program include Target, Walmart, Netflix, AT&T, Starbucks, Kroger, and Dominos Pizza, to name a few companies.

After using Bumped for one year, I haven’t even got to $17. It’s not much but it’s $17 more dollars than I wouldn’t have had not doing this.

One year ago, I was given an invite to try out Bumped after signing up on their website. I had to wait a few months to join and given an invite code. I wanted to do a follow up to my experience with Bumped after a year. I wanted to show how using Bumped has been going with me. What I think of the service so far, and any changes in spending habits or how I pay and where I purchase any items. Also, if there was anything that I may have missed in my original article. I have done a blog at the start of the year about bumped, so if your new to my blog, you can check out my original blog about Bumped before you read this article.

Have I noticed any differences in my spending patterns?

There is a feeling that I have been spending more or need to purchase items to keep up with the program. I have felt I’ve stopped at McDonald’s for french fries or a coffee more often, for instance. I find myself signing up for a Spotify Premium account every so often to earn stock back. Even on my last trip to Las Vegas, I brought food at Kroger Grocery store for the week to get shares of the company. While I have been making more purchases, I still try to do this while I was I stacking deals with my rewards credit cards or sales. I decided to take advance of 5% cashback quarters or my 2% cashback rewards cards. It is effectively making me earn anywhere from 3% to 8% back on any of my purchases between cashback and bumped rewards in shares. I’ve taken advantage of sales or offer I can get through other services like Spotify, giving me three months for $9.99 to come back after I canceled my premium subscription for a few months. I do like that I can stack deals on top of earning credit card rewards or cashback with the bumped program.

How have the stock value/dividend payouts been?

My portfolio value fluctuates with the market but only goes up and down by mere pocket change, which is what I currently have in my investments. Meaning that I have seen no more than maybe a quarter dropped or gained in a day. The dividends have been low if non-existent. I’m not surprised by this. What surprises me is that I got any dividend at all from my micro shares. I know that you could build wealth and stock, but very slowly and over time. But I didn’t think that I would get any stock or dividend within the first year of using Bumped.

Walmart, for example, as of October 11, 2019, the stock price sits at $120.24. Bumped offers currently 1% back in shares for Walmart. To at least get one share of Walmart stock, you would need to spend around $12,000. I feel that even the most dedicated person to Walmart can’t spend that much in a year. Over time and then sone, I can see that as a possibility. I believe that it’s possible, but I can’t see many people doing this. It also depends on the company and how much they give in dividends to shareholders. Most of the time, I don’t see any dividends from my micro shares. The most significant micro share that I own in any company or brand is at .064, and I still haven’t seen any dividend return from them. Other stocks where I own either .04 or .05 of a micro share, I have seen a dividend. I’ve been earning $0.01, maybe $0.02 from them per quarter year. I also elected to reinvest those dividends into purchasing more micro shares. It feels like that is the best choice as I look to earn $0.10 in combined dividends this year from all of my brands.

Who says that you can’t get anything for a penny. I got five hundred thousandths of a share of McDonalds.

Does this create loyalty to the stores and brands that I use? Will I shop elsewhere, or will I stop going somewhere else because I don’t earn any rewards from them?

I don’t think that this has changed much for myself. It hasn’t deterred me from shopping at other places. For instance, I chose Walmart stock as I seem to shop there more often. I will still shop and buy at Target if I find a better deal or sale. I would have always chosen McDonald’s. They are to only fast food nearby choice that Bumped has to offer me. The hardest decision I had was if I was going to choose Red Robin or Olive Garden, as I frequently eat at both places when I go out. I went with Red Robin, and I do notice that I would prefer to eat there more often than at any other restaurant. It’s nice that you can switch, although you can’t change again for 30 days after you chose and you can only switch three times per year. I’m good with the decisions that I made, but glad I can still change my choices in the future if I wish to.

You can check to see if you transaction had gone through and how much stock back you got per card. Purchases Delayed means that certain debit and credit card transactions can take longer to show up on your statements.

Are there any companies or brands that I wish were available that aren’t available in Bumped?

Of course, I do. In the year that I joined, I’ve only seen the addition of three companies and brands added, Sam’s Club, Uber, and Lyft. While useful, I can’t help but wonder why haven’t other services and companies joined in as well. Why don’t we have Hulu for video streaming choices as well as Netflix and Sling Media? I’m surprised that there aren’t any travel options available unless they are only offered to select users. That was one of the reasons I found and wanted to sign up for Bumped in the first place. Companies like Southwest, or JetBlue, could benefit from joining up or Bumped opening those up to users like me. I also wish for another coffee choice, like Dunkin Donuts, another company that I had seen on Bumped’s website and wanted to choose at first, but wound up going with the only choice offered, Starbucks. I like Starbucks, but I have more accessibility to Dunkin due to having at least three within a 10-mile radius of where I live.

Is joining Bumped or any other similar rewards program like this still worth it?

Yes, without any hesitation. I can agree that any kind of saving or rewards that you get back are worth it. I may have barely earned $17 doing this program, but it’s $17 back that I would not have seen again. I still don’t know about what tax implications that will cost me in the future, but I’m in this for the long run, like what most investing should be when you decide to start. I was told and can see that when people invest in stocks, they tend to buy when the stock market is high and sell when the market crashes or is low. The stock market can be scary, but this is an excellent way for anyone to get an entry into the stock market and stick with it without concern and not cause a financial loss to the user. It’s small, yes, but what would worry you more when investing, losing change in the stock market, or losing dollars? I watch it go up and down, but I’m not concerned. If they are one thing that I can do down the road, it is an option to buy in and fill up the stock, so it gives the user a chance to own and have a share right away instead of possibly taking years to earn one share.

There is another services I saw called Bits of Stock, that I found on Reddit. I haven’t decided if I want to try this service yet. But it shows that this micro stock rewards have a chance to catch on.

That is all for main questions and thoughts I had with Bumped. If you had any more questions for me, you can leave a comment below or leave me a message.

Thank you for Reading. Check out more of my blog posts at: www.tommoscato.com. 

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