Some Valuable Money-Management Lessons From Millionaires

Some Valuable Money-Management Lessons From Millionaires

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Can simple money moves make a dime’s worth of difference when it comes to achieving your big financial dreams? The answer is definitely yes. Your chances of becoming a millionaire might be slim, but you can still manage your money like one, and fatten your bank account along the way.

These easy-to-follow money tips can help you get closer to realizing your financial goals, without stressing over every single cent. Here are money management ideas touted by millionaires that are likely to add up for you…

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Leave Your Family Up To $1 Million In Life Insurance (For Just A Few Dollars A Month)

No more living on the edge: you could leave your family up to $1 million in life insurance with a company called Bestow. The application process generally takes about five minutes, and you can change or cancel your plan at any time. There is one catch: you must be under the age of 54 to qualify.

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Use This Website To Pay Your Credit Card Bill This Month

Give yourself some credit for making this move: a company called Fiona will match you with a low-interest loan you can use to pay off every credit card balance you have. In addition to having only one bill to pay every month, you’ll most likely get out of debt faster, because the interest rate will be so much lower.

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Learn From Others About How To Grow Wealth

Talk about valuable advice: search the internet for blogs and websites, listen to podcasts, or read books to gather information from people who’ve experienced their own financial success.

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Put The Brakes On The Same Old Car Insurance

To find out if you’re overpaying for your car insurance, turn to The Zebra. This company makes it easy to compare car insurance prices, and also offers you a free quote. You won’t have to spend a lot of time to see how much you can save: the application process only takes a couple of minutes to complete.

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Turn Receipts Into Cash

Instead of tossing your receipts in the trash, turn them into cash. With a free app called Fetch Rewards, you simply send a photo of each receipt to earn points that can be exchanged for Visa gift cards.

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For Real: You Can Invest In Real Estate

Investing in real estate isn’t beyond your reach. With DiversyFund, you can invest in commercial real estate – specifically, apartment complexes in California and Texas that are owned by the company. To get started, you only need to have a small amount of cash ($500), and a big dream.

Photo: Wikimedia Commons/Shuvaev

Grow Your Money Faster

A company called Aspiration just might be your inspiration to save more. You can earn up to 5% cash back on debit card spending, as well as up to 11 times the average rate of interest on the money you save. Also good to know: aspiration shares a portion of its profits with nonprofit organizations.

Photo: Vance Air Force Base/Airman 1st Class Taylor Crul

Make Your Paycheck Work Better

Create a zero-based budget by tracking a month of expenses, and then consider your financial goals, such as how much you’d like to save or invest, or how quickly you want to pay off your debt. Work backward to cut your expenses, until you’ve achieved your financial goals.

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Score Some Important Credit Information

Use a free website called Credit Sesame to get access to your credit score, information about any debt-carrying accounts, and also get personalized tips that could help you improve your score.

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Snag Up To $500 In Free Stock

It’s investing that’s free – and free from hassle: no commission fees, easy to use, and you can buy or sell stocks for free without limits. All you need to do is download the app and fund your account, and Robinhood will drop a share of free stock (because it’s random, it could be worth anywhere from $5 to $500) right into your account.