10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht.
These are simple money moves any normal, non-millionaire person can make today. Each tip can get you closer to achieving your big goals.
Take a look:
1. See if You Can Get Free Money From This CompanyHere’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra cash. And who doesn’t want extra cash?
Yep. A debit card called Aspiration gives you up to a 10% back every time you swipe.
Need to buy groceries? Extra cash.
Need to fill up the tank? Bam. Even more extra cash.
You were going to buy these things anyway — why not get this extra money in the process?
Enter your email address here, and link your bank account to see how much extra cash you can get with your free Aspiration account. And don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s nerd talk for “this is totally safe.”
2. Cancel Your Car Insurance
When was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy.
If it’s been more than six months since your last car insurance quote, you should look again.
Luckily, a website called InsuraMatch will compare plans from more than 40 different insurance companies for you.
InsuraMatch can also help you sort through dozens of discounts you might qualify for to save even more on your insurance. You can get discounts for being a safe driver, going paperless, insuring multiple cars, getting good grades and more.
It only takes a few minutes to check with InsuraMatch and see if you’re overpaying.
3. Give Your Family $1,000,000
Oh, to be a millionaire. Look, not all of us have the money to set up trust funds for our loved ones. But you could still give them $1 million (or more) with term life insurance.
You’re probably thinking: I don’t have the time or money for that. But you can get free quotes from a company called Policygenius in just a few minutes to help you find the right coverage for your needs.
Some policies start at less than $20 per month.* The peace of mind of knowing your family is taken care of is priceless.
Policygenius offers life insurance policies that don’t require the usual medical exam, so you don’t even have to get up from the couch. Click here to get a free quote from Policygenius.
*For a $500K policy, subject to eligibility.
4. This Guy Added Nearly 300 Points to his Credit Score — See How You Can Raise Yours, Too*
You’ve got big plans. Maybe you’ve got your eye on a new car. Or you’re hoping to buy a house in the next few years. Or you’d even like to start your own business. But here’s the thing: No matter what your goals are, you might not realize how much your credit score is standing in your way.
The good news? A free website called Credit Sesame makes it easy to put your credit score on track to reach your goals. We even talked to one guy, James Cooper, of Atlanta, who used Credit Sesame to raise his credit score nearly 300 points in six months.*** He says they showed him exactly what to do — he was even able to open his first credit card.
What could adding 300 points to your score mean for your goals? It could easily save you thousands of dollars over the life of a car loan or mortgage.
Within two minutes, Credit Sesame will give you access to your credit score, any debt-carrying accounts and a handful of personalized tips to improve your score. You’ll even be able to spot any errors holding you back (one in five reports have one).
Make sure your plans don’t get sidelined by bad credit. Sign up for free (it only takes about 90 seconds) and see how much you could improve your score.
5. Let This Free Financial Plan Save You up to $3,500/Year
Having a financial plan is one of the smartest decisions you can make for your future. It’ll help right the wrongs you’ve made and get you on a path toward a richer life.
But only people making six figures can afford a personal advisor to analyze their finances and give them personalized recommendations, right?
A company called Anasova uses AI software to replace those expensive sessions with financial advisors. It takes less than 10 minutes to answer some questions about your money habits and goals, then you’ll get a super-personalized PDF outlining what you need to do to reach them.
Build your financial plan in even less time by customizing one of Anasova’s mini-plan templates:
The Protect mini-plan focuses on insurance, cash, liquid assets, cybersecurity, wills and trusts.
The Prepare mini-plan prioritizes retirement planning, investing, personal savings, personal credit and debt management.
Even better? Anasova’s financial plan is completely free — and totally anonymous. You don’t even give them your email address. They won’t bombard you with ads or sell you other products, either.
There’s no catch; Anasova was built by one of the nation’s top wealth management executives who wanted to make it easier for everyone to get access to financial management — not just the rich.
Now you can get access to custom financial advice — even if you’re not a millionaire. Just click here to answer a few questions and get your free financial plan from Anasova now. It could save you thousands.
6. Use up Your Entire Paycheck
No, we’re not talking about going to Whole Foods and buying out its fancy cheese supply (though that’s the first thing we’d do if we had $1 million). Instead, we’re talking about creating a zero-based budget, a budget that finds a place for your every dollar.
You’ll want to start by tracking a month of expenses. How much do you (or don’t you) have remaining? Then, consider your financial goals. Do you want to save money? Invest money? Pay off debt?
Work backward to cut your expenses until you can achieve that goal. It might take some patience, but it’ll pay off.
7. Become a Real Estate Investor for as Little as $10
Take a look at some of the world’s wealthiest people. What do they have in common? Many invest in large private real estate deals. And here’s the thing: There’s no reason you can’t, too — for as little as $10.
A company called Fundrise lets you get started in the world of real estate by giving you access to a low-cost, diversified portfolio of private real estate. The best part? You don’t have to be the landlord. Fundrise does all the heavy lifting.
Fundrise’s Starter Portfolio has a minimum of only $10 and is geared toward first-time real estate investors. Your money will be invested in the company’s Flagship Fund, which already owns more than $250 million worth of real estate around the country, from apartment complexes to the red-hot housing rental market to larger last-mile e-commerce logistics centers.
Want to invest more? Fundrise offers a variety of account levels and features to fit every type of investor’s needs. Once invested, you can track your performance on Fundrise’s website and mobile app, and watch as properties are acquired, improved and operated. As tenants pay their rent, you could earn money through quarterly dividend payments, and over time, you could earn money off the potential appreciation of the property. Since 2014, Fundrise investors have earned roughly $100 million in dividends alone.
So if you want to get started in the world of real-estate investing, it takes just a few minutes to sign up and create an account with Fundrise.
*Past performance is not indicative of future results. The publicly filed offering circulars of the issuers sponsored by Rise Companies Corp., not all of which may be currently qualified by the Securities and Exchange Commission, may be found at www.fundrise.com/oc.
8. Let This Free App Save You up to 25 Cents/Gallon on Gas
Obviously, when it’s time to fill up your tank, you want the best prices. Even more obvious — you don’t want to drive all over town comparison shopping.
Luckily, with a free cash-back app called GetUpside, you don’t have to. It can save you up to 25 cents per gallon on gas every time you use it. In fact, the average user saves $148 a year this way. Do the math — how many full tanks of gas could you get out of $148?
Those cents per gallon saved can quickly add up to dollars in your GetUpside wallet — real cash you can transfer to your bank account, PayPal account, or redeem via an e-gift card of your choice. Plus, you can stack your cash back savings with offers and loyalty programs from other companies.
Here’s how it works: Just download the free GetUpside app and set up your account. Check the map for participating stores near you, claim an offer you like and tap “Check In” on the app when you get to the business, then pay with your linked card — it’s that simple. Then you’ll get your cash back within a few days, and you can cash out any time.
Even better? When you use code PENNY20, you’ll earn an extra 20 cents per gallon from your first purchase. That’s a total of up to 45 cents per gallon cash back! It takes just a few minutes to download the app and get started. Isn’t it time to start saving on errands you have to run anyway?
Not available in NJ, WI or UT.
9. Spend $1 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.
But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
But with an app called Stash, it doesn’t have to be. It lets you be a part of something that’s normally exclusive to the richest of the rich — on Stash you can buy pieces of other companies for as little as $1.
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google, Apple and more for as little as $1. The best part? If these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.1
It takes two minutes to sign up, and it’s totally secure. With Stash, all your investments are protected by the Securities Investor Protection Corporation (SIPC) — that’s industry talk for, “Your money’s safe.”2
Plus, when you use the link above, Stash will give you a $5 sign-up bonus once you deposit $5 into your account.*
10. Protect Yourself from Hackers
Identity theft is a scam that happens all too often. We hear a lot about this happening to older Americans, but in reality, no one’s off the hook these days. Nearly 1.4 million people found themselves victims of this credit-crushing crime in 2020 alone, according to the Federal Trade Commission.
But a company called Identity Guard can help protect you and your family against these threats. It works with IBM® Watson™ — artificial intelligence that will constantly scan the web for fraudulent uses of your personal information. If it finds a threat, it sends you alerts in just seconds.
If your credit card number is exposed on the dark web, hackers breached a company with your information or a criminal infiltrated your bank account, Identity Guard can help you get your identity back. With a call center based in the US, you’ll be able to speak with a dedicated case manager throughout the whole process.
Approximately 47 million people have used Identity Guard to help protect their personal information, giving them a 4.5 rating from Consumer Affairs. Plus, they’ve been in business for nearly 20 years.
Signing up is super simple, and plans start for less than your Netflix subscription every month — which includes a $1 million insurance policy* to cover all eligible losses. So no matter who gets a hold of your info, you’ll be protected.
***Like Cooper, 60% of Credit Sesame members see an increase in their credit score; 50% see at least a 10-point increase, and 20% see at least a 50-point increase after 180 days.
Credit Sesame does not guarantee any of these results, and some may even see a decrease in their credit score. Any score improvement is the result of many factors, including paying bills on time, keeping credit balances low, avoiding unnecessary inquiries, appropriate financial planning and developing better credit habits.
* Identity Theft Insurance underwritten by insurance company subsidiaries or affiliates of American International Group‚ Inc. The description herein is a summary and intended for informational purposes only and does not include all terms‚ conditions and exclusions of the policies described. Please refer to the actual policies for terms‚ conditions‚ and exclusions of coverage. Coverage may not be available in all jurisdictions.
1According to a GOBankingRates savings survey
2Round Ups automatically round up debit card purchases to the nearest dollar and transfers the round up from your Chime Spending Account to into your savings account. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more into your savings account.
1Not all stocks pay out dividends, and there is no guarantee that dividends will be paid each year.
2To note, SIPC coverage does not insure against the potential loss of market value.
For Securities priced over $1,000, purchase of fractional shares starts at $0.05.
*Offer is subject to Promotion Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account in good standing, link a funding account to your Invest account AND deposit $5.00 into your Invest account.
The Penny Hoarder is a Paid Affiliate/partner of Stash.
Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. This material has been distributed for informational and educational purposes only, and is not intended as investment, legal, accounting, or tax advice. Investing involves risk.