Great Banks Merch Challenge Q1 2018 Update

Great Banks Merch Challenge Q1 2018 Update

As a reminder, we’re trying to pay off our mortgage and take our family on a 27-day Europe trip with just t-shirt sales in what we call the Great Banks Merch Challenge.

I’ll be providing quarterly updates. This one is 2018 Q1 update:

The Current Merch Challenge Numbers

Current Trip Costs:

  • Flights: $2,035.48 – This amount includes :
    • Flight from Anchorage to NYC for a day before flying to England (we used Alaska miles for this leg + $28 in fees)
    • Flight from NYC to London (we used AA miles for this leg + $28 in fees)
    • Flight from England to Norway (paid Cash, SAS airlines – $355.63 for all 5 tickets)
    • Flight from Norway to Iceland (free layover for 4 days) to Alaska (paid cash – $2,123.85 for all 5 tickets)
    • – $500 – from our sign-up bonus on the Barclay Arrival+ card. Yay for a $500 discount!
  • Lodging: $2,518.53 – All lodging (except 2 hotel nights in Norway we’re still travel hack):
    • 3 nights in London, England – $677.01
    • 1 night just outside Reykjavik, Iceland – $250.49
    • 3 nights on the Golden Circle in Iceland – $681.03
    • $1000 worth of discounted AirBNB gift cards we’ve used to purchase lodging in England and Norway – $910
  • Transportation: $658.97 – (we’ve reserved our rental car for Iceland, but won’t pay for that until the trip):
    • Norway Car Rental: $294.26
    • UK Car Rental: $364.71
  • Other Stuff: $1,217.78 – All of the other experiences, tickets, and stuff we’ve purchased for the trip:
    • Passport fees for the 3 kids – $315
    • Global Entry for all of us – Free (thanks Amex Platinum card!)
    • Travelable booster seats for all 3 kids (to be legal in Europe) – $103.97
    • Travel Backpacks for the girls (Lui will use his small school backpack) – $204.30
    • Tickets to see Matilda the musical in London – $348.15
    • Tickets to the Harry Potter Film Studio outside London – $183.73
    • Westminster Abbey Tickets – $62.63


Mortgage Costs: 

For Merch to cover the rest of our mortgage, we’re including any payments we make above our minimum monthly payments. So, these costs are the extra payments we made starting with the November mortgage payment:

  • $2,100 (November)
  • $1,700 (December)
  • $1,500 (January)
  • $0 (February)
  • $100 (March) – hopefully sales will pick up again soon so we can start shoveling money toward the mortgage!


Current Merch Earnings (earnings are 2 months behind as that’s when we get and report the money):

  • June: $7.07
  • July: $218.24
  • August: $810.78
  • September: $1,065.67
  • October: $3,352.58
  • November: $1837.50
  • December: $2627.96
  • January: $1076.85
  • February: $695.83
  • TOTAL: $11,692.48

minus our total mortgage payments and total trip costs of $11,830.76

Merch Challenge Totals: -$138.28

Verdict so far: We’re pretty darn close to breaking even on this thing, but that doesn’t mean much right now since we still have over $25,000 left on the mortgage and we still have tons to pay for on the trip (most of our experiences, castle passes, food, a few hotels, one rental car, etc.). Sales have also been pretty dismal. We now have 2000 listings on Amazon filled and we hope sales pick up for the summertime. We’re hoping to have 4000 filled at the start of Q4.  Do you think we can do it?


March 2018 Plan Update


April 2018 Plan Update


  1. So impressive, even if sales are slow now. Good luck getting to 4000 live!

    • MaggieBanks

      Thanks! Good luck getting to 100! See you in the 2000 tier soon! 🙂

  2. fierymillennials

    That is awesome!! Look at the way sales have crept up over time. It’s very inspiring!

  3. Ebene

    So impressive after such a short amount of time.
    I hope sales pick up for you.

    How did you get the Global Entry for all 5 of you from the Amex? Do you have 5 of those cards? I thought it only gives $100 GE credit?

    • MaggieBanks

      The platinum gives you one GE credit, then I issued Mr. T 4 gold cards from my platinum card and each one of those comes with a GE credit. 🙂

      • Ebene

        Can you tell me how you did that? I haven’t ever had an American Express card. Are these personal or business cards?
        How do you issue a Gold card from your Platinum? Does that mean he opened up 4 new credit cards to get the credit? Did each Gold card come with a points bonus too?

        • MaggieBanks

          The Amex Platinum card I got was a personal one. It comes with a sign up bonus and a $550 annual fee. It also allows you to add authorized users (as gold card holders) – I added Mr. T 4 times as an authorized user so he got four gold cards. No sign up bonus for any of those and they all record on his credit report, but each one of those comes with a GE credit.

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