10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire

A young man smiling as he sits on the outside ledge of a window.
Carmen Mandato/The Penny Hoarder
Advertising Disclosure: Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

  1. 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:

  2. 1. Get up to $500 in Free Stock

    Carmen Mandato/The Penny Hoarder

    If you feel like you don’t have enough money to start investing, you’re not alone. But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

    Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

    Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

    What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

  3. 2. Leave Your Family up to $1 Million in Life Insurance (For as Little as $5/Month)

    money management steps policygenius
    Johnny Greig/Getty Images

    Have you thought about how your family would manage without your income after you’re gone? How they’ll pay the bills? Send the kids through school? Now’s a good time to start planning for the future by securing a life insurance policy.

    You’re probably thinking: I don’t have the time or money for that. But your application shouldn’t take more than about five minutes — and you could leave your family up to $1 million in life insurance (for as little as $5/month) with a company called Bestow.

    You can change or cancel your plan at any time. Plus, the security 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, pushy sales calls or even getting up from the couch, get a free quote from Bestow.

  4. 3. Have the Same Credit Score as a Millionaire — Without The Bank Account

    cash back apps
    anyaberkut/Getty Images

    Good news for us “normal” folk: Your credit score has nothing to do with your income. Yes, having more money might mean you don’t have to take out loans or buy groceries on credit. But, in reality, you and me could have the same credit score as, say, a certain someone who owns Amazon. Heck, ours could be even better.

    So if you’re looking to get your credit score back on track — or even if it is on track and you want to bump it up — try using a free website called Credit Sesame.

    Within two minutes, you’ll get 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).

    James Cooper, of Atlanta, used Credit Sesame to raise his credit score nearly 300 points in six months.* “They showed me the ins and outs — how to dot the I’s and cross the T’s,” he said.

    Getting your free credit score takes less than two minutes.

  5. 4. Ask This Website to Pay Your Credit Card Bill This Month

    Two hands reaching out to each other.
    Tina Russell / The Penny Hoarder

    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. But a website called Fiona wants to help.

    If you owe your credit card companies $100,000 or less, Fiona 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, you’ll get out of debt that much faster. Plus: No credit card payment this month.

    Fiona won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.

  6. 5. Use up Your Entire Paycheck

    Getty Images

    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. 6. See if You Can Get Extra Money From This Company

    Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra money. And who doesn’t want free money? 

    Yep. A debit card called Aspiration gives you up to a 5% kickback every time you swipe.

    Need to buy groceries? Get cashback.

    Need to fill up the tank? Bam. More cashback. 

    You were going to buy these things anyway — why not get extra money in the process?

    It takes just five minutes to sign up for a new debit card and see how much extra money you could earn with the Aspiration Spend and Save account.

  8. 7. Grow Your Wealth By Learning From Others

    Two woman sitting next to each other in an office-type setting, and they go over material on a cell phone and laptop.
    Drazen_/Getty Images

    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
  9. 8. See if You’re Wasting $690/Year on Homeowners Insurance

    You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy.

    This isn’t something you actively think about — you just know you’re required to have it. 

    The problem is, you’re paying too much. Luckily, an insurance company called Policygenius makes it easy to find out how much you’re overpaying. It finds you cheaper policies and special discounts in minutes. 

    In fact, it saves users an average of $690 a year — or $57.50 a month. It’ll even help you break up with your old insurance company. (You’re allowed to cancel your policy at any time, and your company should issue you a refund.)

    And just because you’re saving money doesn’t mean you’re skimping on coverage. PolicyGenius will make sure you have what you need. 

    Just answer a few questions about your home to get started.

  10. 9. Cut Your Cell Phone Bill by More than Half

    You’ve probably had the same cell phone company for a while. And you’re probably paying way too much for your service. 

    But with discount carrier Twigby, you could cut your bill by more than 66%. 

    It worked for Zak Wilson. He’d been paying Verizon Wireless about $180 a month for two lines. So he tried Twigby. For both phones, he’s now paying $60 a month.

    With Twigby, you get to build your plan. Each plan comes with unlimited texts, then you choose how many minutes and how much data you need each month. Plans also include free Wi-Fi calling and texting.

    Twigby uses both the Sprint and Verizon networks for its coverage. Plans start at just $9, and you can bring your own phone. Plus, new customers get 25% off the first 6 months of service.

  11. 10. Add $225 to Your Bank Account Every Month

    A woman's legs are shown dangling off a green suede couch. Her legs are crossed, and she holds an Apply laptop on her lap.
    Carmen Mandato/ The Penny Hoarder

    What if we told you a research company would pay you to watch cooking videos on your computer?

    It’s too good to be true, right?

    But we’re serious. InboxDollars will pay you to watch short video clips online. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.

    All you have to do is choose which videos you want to watch and answer a few quick questions about them afterward.

    No, InboxDollars won’t replace your full-time job, but it’s something easy you can do while you’re already on the couch tonight wasting time on your phone. It’s possible to earn up to $225 per month watching these videos.

    It’s already paid its users more than $56 million.

    It takes about one minute to sign up, and you’ll immediately get a $5 bonus to get you started.