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. See If you Can Get Car Insurance For as Low as $19/Month
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.
And if you look through a website called InsuredNation, you could save yourself up to $500 a year.
It takes just two minutes to answer some questions, and InsuredNation’s smart matching technology will show you the insurance companies that are the best fit for you. And don’t worry — InsuredNation uses advanced data security and encryption technology, so all your details are safe.
The website is free to use and can even save you up to an additional 20% if you add another vehicle to your policy. You could be paying as little as $19 a month for car insurance.
InsuredNation has already helped millions of people find affordable car insurance. See how much money you could save with a new policy.
3. Give Your Family $1,000,000
Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.
Now’s a good time to start planning for the future by looking into a term life insurance policy.
You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.
The peace of mind of knowing your family is taken care of is priceless.
If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.
4. Ask This Website to Pay Your Credit Card Bills This Month
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates — some up to 36%. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 2.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.
It takes two minutes to see if you qualify for up to $50,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.
5. 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.
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. Cut Your Cell Phone Bill by More than Half
Did you know you don’t need to pay big network prices to use your phone on the best network in the country?
A cell phone carrier called Twigby lets you keep your phone and only pay for the data you need on the best nationwide network (we did some digging — it’s Verizon).
Yep, you can use your phone for as little as $4.50 a month and save hundreds of dollars on your bill. And if you need to up your data in the middle of the month, you’ll only pay the difference in plan prices — instead of those hefty overage fees.
Twigby makes it really easy to switch, too. And don’t worry — you get to keep your phone number. When you sign up for a contract-free plan, they’ll send you a new SIM card in two days. All you have to do is pop it into your phone and you’ll be running on the best network in the U.S., for less. Need more lines? You can add up to 10 lines to your account and choose exactly what you want for each.
And if you have any questions or need someone to walk you through it all, they have their own U.S.-based customer service team available to chat with you.
Plus, right now you can get 50% off your monthly plan for six months. Could you imagine paying as little as $4.50 a month for your cell phone bill?
So, if you’re ready to keep your top-quality cell phone service but lose the expensive monthly payment, make the simple switch to Twigby.
8. Customize Your Health Insurance and Save up to 40% at the Doctor’s Office
If you’re not covered by an employer healthcare plan or a subsidized plan on the healthcare.gov marketplace, seeing a doctor can be really expensive. Paying out of pocket can scare someone into foregoing an appointment and ultimately risking their health.
But there’s a new kind of health insurance* that can be customized to be exactly what you need, and it costs only as much as you can afford. It’s called Sidecar Health, and it’s helping people cut their out-of-pocket costs by up to 40%.
The insurance plans offered by Sidecar Health work to cut down medical expenses by taking advantage of doctors’ discounted cash prices. Depending on your optional deductible and selected benefit amount, you could end up paying only 20% of the doctor’s cost.
The insurance can be customized to your needs: Don’t take prescriptions? Remove it from your coverage and lower your monthly premium. Want a lower deductible? Pick the exact amount you want. Save even more by locking in your rate for three years.
Get a quote in less than a minute and start saving on your insurance in just two weeks.
*Sidecar Health offers and administers a variety of plans including ACA compliance and excepted benefit plans. This refers to excepted benefit fixed indemnity insurance product marketed and administered by Sidecar Health Insurance Solutions, LLC and underwritten by Sirius America Insurance Company or United States Fire Insurance Company, depending on the state. It does not provide comprehensive/major medical expenses coverage, minimum essential coverage, or essential health benefits. Coverage and plan options may vary or may not be available in all states.
9. Get a Free 12-Month Warranty on Almost Any Online Purchase (Seriously)
It’s illegal to drive a car without insurance in most places, but most of us wouldn’t risk it anyway. And while it isn’t illegal to purchase other big-ticket items without insurance - it feels like it should be a misdemeanor, at least.
You worked hard to afford that big splurge — the last thing you want is for something to happen to it. Manufacturer warranties typically only cover defects. They usually don’t offer any protection from things like drops, spills, cracks, surges, obsessive pets — you know, life stuff.
Luckily, we found a browser extension called Mulberry that will give you 12 months of coverage on almost any online purchase — for free. Seriously. This will protect your online purchases from all sorts of life stuff.
Just add the Chrome extension to your browser, then Mulberry will recognize when you’re shopping online. If your purchase qualifies, they’ll offer you a free 12-month protection plan. If you want more coverage, you can upgrade your plan for a longer term, as long as you do so within 30 days of your online purchase.
If you’re thinking it sounds too good to be true, we don’t blame you. But there’s no sneaky auto-renew feature, and the plan is really free. And if you decide to upgrade, expect to pay as little as half the price of a traditional warranty. Mulberry covers its insurance in-house. That means no middle man jacking up the coverage price.
Plus, Mulberry has a perfect rating in the Chrome web store.
To get started, just add the Chrome extension to your browser, then activate your account with an email address and password and confirm your purchase within seven days.
10. Get Up to $500K in Cash (Without Refinancing Your Home)
If you want to take advantage of the equity in your home, it may seem like a cash-out refinance or a home equity loan are your only options.
But there is another option — it’s called a home co-investment and a company called Unison will give you cash now for a share of your home’s increase in value (or, in most cases, any potential loss) when you sell. And they’ll give it to you without any monthly payments or interest.
Unison will invest up to $500,000 or up to 17.5% of your home's value — determined by an independent appraiser. It won’t affect your current mortgage, and Unison doesn’t take any ownership of your property. Then they’ll wire the co-investment amount, minus a 3.0% transaction fee and settlement costs, straight to your bank account.
What you do with that money is up to you. You could renovate your home, help pay off your debt — it’s your call.
Then when you sell your home, Unison will share the profit with you. If you've been in your agreement for at least five years, Unison will also share in the loss, if any.
Take two minutes to enter your home address and email to see if you prequalify — and how much Unison can co-invest with you. Once you complete your application, if you're approved, you can have cash in your bank account — without any monthly payments or additional debt.
***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.
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.
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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.