I know what you're thinking...
"There must be a catch."
You'll see. =)
My family bought almost exactly $1,000 of gasoline last year.
It seems odd that it came so near to that big round number. Anyway,
Exxon will reimburse us a little bit more than that entire amount.
Here's how you can get in on the same program.
First, you need to know how much you spent on gas last year.
Your online banking can be a real help with this!
Second, you need to know what the dividend currently is on XOM. You look that up on Yahoo Finance or Google Finance or anything like that.
On November 13, 2020 XOM's annual dividend is $3.48 per share.
$1,000 divided by $3.48 = 287.35 I'd round that up to 288 shares.
For a total outlay of 288 times the current price of XOM ($35.85 on 11/13/2020) you'd have all your gasoline costs reimbursed every year. 288 x $35.85 = $10,324
A total investment in XOM of $10,324 reimburses your total expenses for gasoline each year.
If you want to buy a few more shares, go ahead; that way you know you're going to be over-reimbursed for you gasoline purchases.
It's kinda fun to fill up and know that Exxon is gonna pay you back for what you're spending right then. It feels like you're getting away with something.
Now you know how you can get reimbursed for the costs associated with just living your life!
It's kinda fun to fill up and know that Exxon is gonna pay you back for what you're spending right then. It feels like you're getting away with something.
You can do this with anything:
Electricity (use ticker D), Groceries (ticker KR), Water (YORW), etc.
Now you know how you can get reimbursed for the costs associated with just living your life!
