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Supercharge Rewards on ALL Spending (Yes, including Bills)

For the audio version and discussion of this article, click the Spotify link below.

There is nothing wrong with being frugal or liking a deal. I titled this the cheapskate’s way to stack bitcoin because today, there is an asymmetry to earn satoshis (what are satoshis?)  or sats. All you have to do is adjust how you spend slightly, and the rewards over time are tremendous as we see bitcoin adoption increase. Rewards in bitcoin accrue value, while airline miles and cash back lose value over time. BIG difference and why this is even cooler.

First, the following resources should be checked out if you need to learn more about bitcoin. These will help you build my conviction that, eventually, bitcoin will become the world’s money of choice. If you consume some of all of the following resources, you will quickly become more educated than 95% of the people in the world. I’ve reached podcasts on this on my podcast HERE. For some of my favorite resources, check out the below.

Second, let’s get down to how to earn bitcoin on daily living. I conservatively think you can earn 3,000,000 sats per year following what’s laid out below. That’s $600 USD – but if bitcoin eclipses gold simply as a store of value (low bar), that’s $15,750 USD*.

We all have somewhere we call home. The Fold Card allows you to make every spend you make eligible for bitcoin rewards. On the go and buying gas – bitcoin rewards. Paying your mortgage or rent this month – bitcoin rewards. Dining out with friends – cover the bill and have them pay you back (earn bitcoin). Pretty cool, huh?

The best part of the Fold Card for us has been the mortgage rewards – how else do you earn 2% back on one of the biggest monthly bills? This has been incredible to earn money back on that expense. 

Strike is a fantastic tool to use the bitcoin network in various ways. First, it allows a user to easily take dollars and pay lighting invoices (bitcoin layer two for commerce and sub – $500 payments). Strike offers a user the ability to buy bitcoin (KYC – which is normal for most exchanges) with only a small spread of 0.30% or so – which is super handy. You can also establish a direct deposit and auto purchase for bitcoin via Strike, which is cool. Lastly, Strike is building a commerce platform for payments – working to lower the costs, be more efficient, faster, fair, and for all.

One big issue that you might have experienced prior is an owner chargeback– when someone pays a bill with a credit card and then claims it as a fraudulent payment or unknown. The story I’ve heard used was in Miami, a high-end tattoo parlor did $7,000 of work on someone from out of town – they left paid via credit card and then claimed the card was stolen and even though there was camera footage of them in the parlor. The artist had to eat the $7,000 worth of work – with bitcoin and the lighting network, this doesn’t happen. You can download the app, but it also does have a chrome browser extension. If you use code I0IASX when you sign up, it’s $10 for you.

Shopping online and online bill pay is the norm – no one is mailing checks in for bills (sorry if that offends anyone that is 😂). Pay with Moon is an awesome tool for being able to use/leverage a strike payment to pre-load a Visa debit card and earn 5% back automatically every time (the reward is deposited in your Strike account as cashback – can instant convert to bitcoin or just trim the $ off the purchase price). The reward is through an engagement with Strike and Pay with Moon – but anything online – bills, Amazon, pizza, or shopping it’s an awesome tool. I had had one experience with our local utility billing that rejected the Pay with Moon Visa – but outside of that, I’ve used it  20+ times and had nothing but success.

Bitrefill and Strike, to me, is the ultimate pairing of fantastic rewards and flexibility to leverage the lighting network and earn rewards. So Bitrefill’s mission is to live on Crypto – replacement crypto with bitcoin, and now we are talking. Bitrefill allows users to use bitcoin or lighting payments to buy gift cards and bill pay. So the bill pay feature, which is my favorite, allows users to pay their credit card off using bitcoin or lighting. Now there is a 0.99% fee, but similar to Pay with Moon – Bitrefill and Strike have an automatic 5% back when paying a lighting invoice with Strike(the reward is deposited in your Strike account as cashback – can instant convert to bitcoin or just trim the $ off the purchase price). So you can literally earn rewards for paying your credit card bill – GAME CHANGER – the same can be done for student loans. If/as they come back as a bill – image stacking bitcoin as you pay bills. That’s Bitrefill – also, to give you an example, at the moment, they are running a special on Lowe’s gift cards – 10% back at Bitrefill – which means that’s 15% when paying with Strike to do your home maintenance. This is a duo that’s hard to beat – this is likely the best tool I can recommend once you get the feel for it. The mobile app makes it super easy to be out and buy gift cards on the go at restaurants and stores. Not that I’ve been that guy or anything.

Lolli if you are familiar with Rakuten or Honey, same idea here with a twist. The mobile app can be connected to a credit card, and you can earn 10% + back – the one that is my wife’s favorite is the Starbucks connection. For those who might not be familiar with Rakuten or Honey, Lolli is a mobile app or Browser extension that allows you to earn rewards when shopping – and there are many stores and retailers out there. It does negate if you use a gift card – so you cannot double stack, but you could use Pay with Moon to double stack rewards. I use Lolli most for travel bookings – whether it’s flights/lodging/car rentals, it’s an easy way to earn rewards. There is next to no effort needed, so this is likely the easiest one to implement.

So how do I use the above tools?

Fold is for all spending out in daily life where there are no gift cards – think local places you love and pay my mortgage. If Bitrefill has your mortgage payment available – you might want to check that out, as your rewards might be higher and more consistent there. Strike and Bitrefill I use the most as this is for paying for any gift cards for purchases and spending, plus paying off my wife’s student loans (refinanced them – I know foolish), credit cards, and others. I use Pay with Moon – when/if it’s an online bill pay or purchase and I cannot get a gift card for it or if I want/can stack with Lolli (remember the reward is negated by the gift card usage). Lolli for me is travel mainly – the stores offered are not frequented by our family but might be some great options for gifts for you there.

 Does the above feel a little gimmicky? Sure – I can appreciate that view, but I’m often able to be earning rewards on almost every spend. Often I can find a way to earn high single digits back on spending I’m already doing or never could earn rewards on prior. If you aren’t a dye-in-the-wool bitcoiner like yours truly – the Strike Bitrefill stack is great as the bulk of those rewards are back as cash and can then be withdrawn back to your bank. The only bitcoin rewards would be from Bitrefill. Also, the credit card payment makes this worth it!

What do you think what option do you like best and want to implement? Did you learn anything – jump in the Facebook group and let me know!

*The bitcoin price to eclipse gold would be $525,000 and have a market cap of $12 Trillion. 


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Let’s Talk About Money w/Isaiah Douglass

Julie Squires a Certified Compassion Fatigue Specialist, Certified Life Coach & Podcaster interviewed Isaiah Douglass, MBA, CFP®, CEPA to talk about money. She asked, “What’s one non-consensus view you have on personal finance for veterinarians?”

Tune in to check it out!

Check out Jules’ podcast here ➡ http://rekindlesolutions.com/podcast/

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Veterinary Financial Podcast – Burning Questions for a Financial Planner

Meredith Jones, DVM, and Phil Zeltzman, DVM, DACVS, CVJ, FFCert asked Isaiah Douglass, a Certified Financial Planner, to weigh in with his expert advice on burning financial questions we’ve received from vets. Isaiah is a partner in Vincere Wealth Management and the host of the Veterinarian Success Podcast.

– How do financial planners get paid?

– When to know if you need a financial planner / advisor

– What are the purposes and benefits of seeking financial advice?

– How to save for the “tax bomb” at the end of income-driven student loan repayment

– What is the difference between compound interest vs. simple interest?

– Why Isaiah is such a big advocate for practice ownership

– What self-limiting beliefs keep vets from building wealth?

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Veterinarians: What happens if you can’t work?

Disability insurance isn’t exciting to think about, but worse than that is ignoring it until it’s too late to get it. Veterinarians should not skip out on this important insurance.

Read Dan Routh’s Post on dvm360 here.

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#33 Isaiah Douglass, MBA, CFP® – The One Year Interview

In this episode, the tables are turned, and Dan Routh takes control of the microphone and interviews Isaiah. Dan digs into Isaiah’s story and his background.

  • How did someone born on a farm find his way to financial planning?
  • His journey to starting his firm and the “why” behind it.
  • Why veterinary medicine?
  • Why is he so adamant about ownership in veterinary medicine?
  • The two critical questions for anyone to ask a financial advisor.
  • The story of the podcast and why it was started.
  • VetPartners and why the organization is so essential to the industry.
  • His answer to the success question he asks all his guests.

Website: www.vincerewealth.com

LinkedIn: https://www.linkedin.com/in/isaiah-douglass-mba-cfp%C2%AE/

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#7 Dan Routh, CFP® – Financial Planning for Veterinarians

In this episode, I’m joined by Dan Routh, CFP®. The episode is unique in the fact that Dan will be an on-going presence on the show, so I wanted to interview him first. Dan shares his story of why did he decide to be a financial advisor, and how it wasn’t a life long passion. Why veterinary medicine is so important to him (Spoiler: His wife). The unique challenges that veterinarian students face, as he witnessed it during Kelsey’s time at Oklahoma State University. What is specific to the planning needs of veterinarians. What good financial advice looks like. Finally, listen to the end where we touch on success and time, and how that matters to Dan and his family. 

Dan’s Blog: https://pointedforward.com/ 

Old Peak Finance: https://oldpeakfinance.com/ 

Dan’s Twitter: https://twitter.com/DanRouthCFP

The Time Tweet we discuss: https://twitter.com/edborgato/status/1120804090064199680?s=12 

The Disney Article I discuss: https://www.thecut.com/2019/03/abigail-disney-has-more-money-than-shell-ever-spend.html 

Top 10 Questions to ask a Financial Advisor from the CFP® Board: http://www.letsmakeaplan.org/blog/view/lets-make-a-plan-blogs/ten-questions-to-ask-your-cfp-professional 

Consumer resources from NAPFA for evaluating a financial advisor: https://www.napfa.org/financial-planning/consumer-resources 

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Isaiah Douglass – The Power of taking a chance on yourself

Isaiah’s mission: • Change the dynamics of advice and how it is given to dentists and veterinarians. • Focus on the most significant assets dentists and veterinarians have, which is their skillset and businesses. • Identify and grow net worth for clients to help them accomplish their goals in life.

• Support the community of Fee-Only and CERTIFIED FINANCIAL PLANNER™ advisors who are changing the industry of financial advice.

*Isaiah’s Note – Clint Latham is a great interviewer and this podcast certainly had a lot of different areas of my background that I’ve not shared prior anywhere else. Highly recommend checking out Clint’s podcast The People of Veterinary Medicine.

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#67 Radio Show – Ashley Foster CFP® Nxt:Gen Financial Planning

In this episode, it’s a bit of a hybrid with Dan Routh, CFP®, and Isaiah Douglass talking with Ashley Foster CFP® founder of Nxt:Gen Financial Planning. Ashely works with veterinarians nationally and is the third founding member of the VETERINARIAN FINANCIAL ADVISOR NETWORK. Ashley shares his journey and path in financial services and his “why” for serving veterinary medicine. He shares:

  • How starting in the insurance world shaped his view for what is financial planning.
  • The founding of Nxt:Gen Financial Planning.
  • What he thinks about whole life insurance.
  • His view on challenges veterinarians face.
  • Who is Ashley from a personal perspective.

Ashley’s LinkedIn

Nxt:Gen Financial Planning

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21 – Handling Student Debt and Post-Grad Finances w/ Isaiah Douglass, CFP

Episode 21 is now available! In this episode, Blake sits down with Isaiah Douglass, a certified financial planner who works specifically with veterinarians and the host of the Veterinary Success Podcast. They discuss how to effectively handle and look at student debt, finances after graduation, and practice ownership!

*Isaiah’s Note – I had a ton of fun joining Blake Root a second-year veterinary student at the University of Wisconsin-Madison on his podcast to talk about my story and answer some student questions. I’d highly recommend checking out Tails from Vet School and Blake’s work.

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Why Veterinarians?

Nine insurance policies? Nine? My first experience talking to a veterinarian about finances is when I found out they had been sold nine cash value life insurance policies. Excessive? Absolutely! He had been taken advantage of by a financial salesperson. I was appalled and decided to dedicate my time, energy, and professional skills to bring quality financial planning to veterinary medicine. 

Talking about finances and money is typically low on the list of the topics anyone wants to talk about and even less so for those within veterinary medicine. The passion and drive you have for providing high-quality care are what drives you. Yet, according to The American Psychological Association found 64% of Americans see money as a significant stressor. I can tell you that’s accurate for what I’ve seen talking with your peers in the industry as well. Money is stressful, yet it’s avoided and pushed aside as it can sometimes be hard to talk about. Your financial future is worth the time and energy to address the challenges you face head-on.

“Neural evidence suggest that money produces the same sort of dopaminergic rewards as other primary reinforcers such as a beautiful face, a funny cartoon, sports cars, and drugs. It would seem that we like money at a primal level independent what It can do for us.”

– Dr. Daniel Crosby, PhD – The Behavioral Investor.
  • The average hourly rate of a full-time associate veterinarian is between $200-$225 per hour according to AAHA’s recent Compensation and Benefits Study.  
  • Starting Salaries for new veterinarians is $90,722 according to a 2020 AVMA study. 
  • The average student loan debt according to the AVMA from the class of 2020 was $181,444.
  • According to research that was done and published in dvm360 total compensation from an associate to an owner can be upwards of $100,000 per year. 

When you look at the rate of corporate consolidation, the fact 40% of private owners will transition their businesses in the next ten years, and the growth of pet care in the US, there are many reasons to be excited about veterinary medicine and the opportunity in front of you. There are many options and decisions to be made regardless of where you are in your professional care. 

“We are in the first 10 years of an industry that will keep growing for the next 50 years.”

Olivier Goudet CEO of JAB Holdings
Compassion-First Pet Hospitals & National Veterinary Associates, Inc.

I want to see veterinary medicine flourish, and I’m dedicating my time, energy, and resources to see that happen. This network is only one part of that, but I hope it can support you somehow. The Veterinarian Financial Advisor Network (VFAN) will grow, and our mission is to build financial confidence for veterinarians across the country. We want to offer the highest level of financial planning for veterinarians.