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
Here’s the thing: your current car insurance company is probably overcharging you. But don’t waste your time hopping around to different insurance companies looking for a better deal.
Use a website called EverQuote to see all your options at once.
EverQuote is the largest online marketplace for insurance in the US, so you’ll get the top options from more than 175 different carriers handed right to you.
Take a couple of minutes to answer some questions about yourself and your driving record. With this information, EverQuote will be able to give you the top recommendations for car insurance. In just a few minutes, you could save up to $610 a year.
3. Invest in Famous Art (Even if You’re Not a Millionaire)
Here’s the deal: If you’re not investing in contemporary art, you might be missing out on an asset whose prices have historically outpaced the S&P by 164% from 1995 - 2020. (FYI, the S&P tracks 500 of the largest companies in the stock market)
You’re probably thinking you need at least a few more zeros in your checking account before you can even start thinking about that, right?
But a company called Masterworks lets normal people like us invest in multimillion-dollar works of art — something normally only available to the super rich.
But you don’t need hundreds of thousands of dollars to buy a masterpiece outright; with Masterworks, you can buy shares representing an investment in art.
It takes less than a minute to sign up for a free account.
Investing in contemporary art is a long-term strategy, so patience pays off here — literally. But once your piece of art sells, you get your share of the potential profits.
*See important Regulation A disclosures at masterworks.io/cd
4. 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.
You’ll also get a custom FinTech Guide to help you find the best FinTech partner to get you going on your financial journey.
Even better? Anasova’s financial plan is completely free — and totally anonymous. You don’t even have to 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.
5. Freeze Your Credit Cards
You’ve heard the whole “freeze your credit” advice. We agree: It’s a smart practice. But in order to save money, freeze your credit cards.
Literally — in the freezer they’ll go.
Sure, it sounds extreme, but if you tend to make impulsive credit card purchases, stick your card in a Ziploc bag, submerge it in a canister of water and slide it into the freezer. When you’re tempted to spend, you’ll have to wait for the card to thaw, requiring you to think through your spending decision.
6. Grow Your Wealth By Learning From Others
One of the best ways to get your money in order? Learning from others! These could be the millionaires themselves, personal finance experts or real-life people who’ve had success. Search the internet for blogs and websites, listen to podcasts and read books.
Here are a few of our favorite resources (ahem, besides ourselves):
- “How to Money” podcast
- “The Total Money Makeover” by Dave Ramsey
- “The Side Hustle Show” podcast
- “Rich Dad, Poor Dad” by Robert Kiyosaki
- “The Money Nerds” podcast
- “The Richest Man in Babylon” by George Samuel
7. Quit Your Job and Make $69/Hour
Are you tired of your job, but not sure how to venture out and start your own business? Look into bookkeeping. It’s the No. 1 most profitable business, according to an article in Inc. And you can earn up to $69 an hour, reports Intuit, the creator of QuickBooks.
You don’t have to be an accountant or good at calculus to start your own bookkeeping business, either. As long as you’re motivated, a company called Bookkeepers.com will teach you everything you need to know. It’s one of the leading training courses in the field, and it’ll even give you the first three classes for free.
It’s helped thousands of people launch their own businesses, including Daniel Honan, a military veteran in his 30s. He never considered starting his own company, but he signed up for Bookkeepers.com, and now he’s making around $50,000 a year keeping track of business expenses for his 10 clients.
It only took him three months to get started, taking one class a week. Oh, and he makes his own schedule and is able to spend more time with his wife than ever.
If you’re just a little curious, you just have to submit your email address here to take the first free classes. If you stick with it, you could be running your own business in just a few months.
8. 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 90 seconds, 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.
9. Let This Card Add Points to Your Credit Score — Even if You Don't Qualify for Credit Cards
It’s not personal. It’s business. Credit card companies see numbers, not stories. So if you have a low credit score, most of them won’t lend you money.
But without credit cards, how can you raise your score in the first place? They aren’t all betting against you, though. The secured Chime Credit Builder Visa® Credit Card could help you add points to your score — even if you don’t qualify for other credit cards. People who use this card add an average of 30 points1 to their score.
Chime doesn’t ask you to pay annual fees, maintenance fees or interest charges — and you don’t even have to have a hard credit check.
To apply, all you have to do is set up a Chime Checking Account and make a qualifying direct deposit of at least $200. Then just move money into your Credit Builder secured account² — this becomes your credit limit and you can use this money to pay your balance.
Chime reports your payments to the major credit bureaus. If you use your card responsibility and make on-time payments every month, your score will reflect that progress.
Credit Builder users see their credit score improve by 30 points, on average. And the Chime app will let you follow along and track your progress.
Get started here to see how many points you could add to your credit score.
*Based on October 20, 2021 Bankrate.com weekly national average interest rate for savings accounts survey of 0.06% APY
**Annual Percentage Yield effective as of 9/1/2020 and subject to change. 3.00% APY available on all Auto-Save balances. Maximum contributions of up to $1,000 per month for paycheck Auto-Save and no maximum contribution for card Auto-Save. 1.00% APY available on Save balances up to $5,000, up to $25,000 with a qualifying paycheck direct deposit.
Instacash is an optional service offered by MoneyLion. Your available Instacash Advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. See Membership Agreement and help.moneylion.com for additional terms, conditions and eligibility requirements.
1 Consumer Financial Protection Bureau 2017.
***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.
2Banking services for the Chime Checking Account are provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank and Stride Bank N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s).
1Based on a representative study conducted by TransUnion®, members who started using Chime Credit Builder in September 2019 observed a median credit score (VantageScore 3.0) increase of 30 points by January 2020. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
2To be eligible to apply for Credit Builder, you need to have received a qualifying direct deposit of $200 or more to your Checking Account within 365 days of your Credit Builder application. The qualifying direct deposit must have been made by your employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit. Bank ACH transfers, Pay Friends transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, and cash loads or deposits are not qualifying direct deposits.
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, MoneyLion does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information. For more information about MoneyLion, please visit https://www.moneylion.com/terms-and-conditions/.
1 Consumer Financial Protection Bureau 2017.