This 7-Day Savings Challenge Is Just the Glow-Up Our Bank Accounts Needed This Week
Not all of us are born to be organizational wizards, but if you want to get ahead with your money, you’ve got to get it under your control. It’s the only way you’ll get any of the big stuff done, such as paying off debt, taking a real vacation, buying a house or saving for retirement.
We get it, though. Not all of us keep everything neatly filed, color-coded, alphabetized and prioritized. And you don’t have to be.
Here are seven things you can do — in seven days — to get your finances under control:
Day 1: Invest in Real Estate (Even if You’re Not a Millionaire)
The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?
It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?
Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.
Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.
So you don’t need a fortune to invest in real estate. All you need to get started is $500.
Day 2: Leave $1 Million to Your Spouse and Kids
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 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 you could leave your family up to $1 million with a company called Bestow.
Rates start at just $8 a month. 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.
Day 3: Cancel Your Car Insurance
Day 4: Add up to 300 Points to Your Credit Score
When it comes to your credit score, it’s important to stay organized and keep tabs on it. After all, it’ll play an essential role in any big purchase you want to make — whether that’s a home or a car.
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.
Want to check for yourself? It’s free and only takes about 90 seconds to sign up.
Day 5: Withdraw $5 and Buy a Piece of Amazon, Google or Other Companies
It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your account.***
Day 6: Ask This Website to Help You Pay Your Credit Card Bill This Month
When you think about your credit card debt, you probably feel a little anxious. It gets tricky keeping track of the balances, the minimum monthly payments and the super-high interest rates.
And while you’re stressing out over your debt, your credit card company is getting rich off the interest you pay. But a website called Fiona could help you pay off that bill as soon as tomorrow.
Here’s how it works: Fiona can match you with a low-interest loan (up to $100,000) you can use to pay off every credit card balance you have. The benefit? You’re left with just one (organized!) bill to pay every month. And because the interest rate is so much lower, you can get out of debt so much faster. Plus, no credit card payment this month.
Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
All that credit card debt — and the mess that comes with it — could be gone by tomorrow.
Day 7: Add $225 to Your Bank Account
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.
*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.
**The Penny Hoarder is a Paid Affiliate/partner of Stash. This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers.
***You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash.