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. Let This Finance App Surprise You with up to $1,250

    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

    If you’re like a lot of us, you just never get around to saving money. Hey, we know what that’s like. After all, roughly 45%1 of Americans haven’t really gotten around to saving any money. It’s just a fact of life.

    So how can you save money, really? 

    The online finance app Chime offers automatic savings features that help you tuck away money without even thinking about it. We interviewed Samuel Demeny, who regularly uses his Chime Savings account. According to him, in just nine months, he saved up $1,250 — without even thinking about it.

    Chime has two automated savings options: One feature rounds up your purchases and saves the change every time you spend, and the other lets you save a percentage of your check2 every time you get paid. (Both features require you to sign up for a Chime Spending Account first, but it’s quick and easy to do.)

    The money adds up quickly, and it’s completely automatic.

    It takes just five minutes to open an account and see how much you could save.

  3. 2. Cancel Your Car Insurance

    How would you feel if you found out you were wasting nearly $900 this year?

    We found an app called Jerry, and it can tell you if you’re paying too much on your car insurance. In fact, Jerry says it finds that people, on average, are overpaying by about $887 a year. 

    Penny Hoarder writer and editor Robin Hartill cut her bill by $70 per month for the same basic coverage.

    “It found a policy for me at a different company that I had tried getting a quote from on my own,” she says. “I’m not sure what kind of magic Jerry wrangled, but it saved me around $70 a month. That’s more than $800 that I’m planning to add to my emergency savings over the next year.”

    Once you sign up, you don’t have to worry about shopping around for insurance again. Jerry will automatically do that for you. Also, it won’t cost you anything — it’s all free.

    To find out if you’re getting ripped off (and how much you could save), start with the online questionnaire, then see your final price. 

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

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    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.

     

    ***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.

     

  5. 4. 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.

  6. 5. Cut Your Homeowners Insurance Bill To as Low as $28/Month

    Homeowners insurance is likely one of those bills you can’t escape if you’re a homeowner. And chances are, you’re probably overpaying for it, too. 

    But if you take two minutes to get quotes from a website called Insurify, you could save hundreds of dollars a year — and you could even receive your policy via email today. 

    Insurify makes it easy to compare your homeowners insurance options all in one place. We’ve seen people paying as little as $28 per month. You don’t need to have insurance already, and you won’t have to pay any hidden fees. 

    Just fill out a quick form about your property and see how low of a rate you can get. Insurify will even do the math and show how much you can save with a new policy. 

    People who do this save hundreds of dollars a year on their homeowners insurance policy. All it takes is two minutes to find a lower rate on your homeowners insurance

  7. 6. 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? 

    Wrong. 

    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. 

    Even better? Anasova’s financial plan is completely free — and totally anonymous. You don’t even 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.

  8. 7. 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.*

  9. 8. Stop Paying Your Credit Card Bill

    If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…

    Your credit card is getting rich by ripping you off with insane rates, but there are other, nicer companies that’ll help you out. A website called Credible knows the best ones and could pair you up as soon as tomorrow. 

    Here’s how it works: Credible will match you with a loan that’ll cover your credit card tab. Use that loan to pay off your debt, then make monthly payments to repay the loan. It could lower your monthly payments and help you pay off that debt a lot faster.

    Plus, no credit card payment this month.

    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.

  10. 9. 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. 

    * 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.

  11. 10. Get a Free $225 in Cash

    If we told you you could get free money just for watching videos on your computer, you’d probably laugh.It’s too good to be true, right? But we’re serious.

    A website called 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. Brands pay InboxDollars to get these videos in front of viewers, and it passes a cut onto you.

    InboxDollars won’t make you rich, but it’s possible to get 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 earn a $5 bonus to get you started.

  12. 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.


    1
    Not 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.