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

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  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. See if You Can Get Free Money From This Company

     Here’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.”

  3. 2. Find Out if Your Car insurance is Overcharging You 

    Getting car insurance — or changing it — is kind of a pain. You know you need to shop around to save money, but there are just way too many options. Who has time for all that?

    Luckily, a website called InsuraMatch will compare plans from more than 40 different insurance companies for you. Yep. This makes getting the best deal super easy. When you’re ready, you’ll consult with a licensed insurance advisor about which plan is the best match 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.

    When was the last time you checked prices for car insurance? Has it been in the last six months? Probably not, right? It only takes a few minutes to check with InsuraMatch and see if you’re overpaying.

  4. 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.

  5. 4. This Guy Added Nearly 300 Points to his Credit Score — See How You Can Raise Yours, Too*

    A man works on his laptop.

    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. 5. Freeze Your Credit Cards

    A young woman lays on the grass next to a lot of different credit cards.
    Tina Russell/The Penny Hoarder

    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.

  7. 6. Use up Your Entire Paycheck

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    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.

  8. 7. Find Out if You’re Overpaying for Homeowners Insurance

    If you’re a homeowner, you probably have home insurance, but you hardly ever think about it. That’s good — it means you haven’t needed to use it. But it also means you don’t know if you’re being overcharged for it. 

    It’s easy to find out, though. To see if you’re overpaying for your policy, check out  a website called SmartFinancial. It’s a digital marketplace where you can get quotes and compare rates to make sure you’re getting the best price. 

    Homeowners can save hundreds of dollars when they switch home insurance companies this way. It takes just two minutes to get quotes from multiple insurers, so you can see all your options side-by-side. Get started here. 

  9. 8. 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. 9. 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.

  11. 10. Protect Yourself from Hackers, Dark Web Dealers and Criminals With This 2-Minute Move

    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 at $6.67 per 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. 

  12. ***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.