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: Grab Some Free Stock
Imagine if you had bought one share of Amazon for $18 when the stock first went public. Today, it would be worth more than $20,000 — despite all the ups and downs in the stock market.
Here’s the thing about millionaires: They know the sooner you start investing, the better. And we found a company that will give you free stock to get started.
An investing app called Robinhood will give you up to $500 worth of free stock in companies like Visa, Microsoft and GE, just for downloading its app and opening a free account.
Robinhood is free and easy to navigate, which is why more than 10 million people use it — including both news junkies looking to outsmart the market and people who want to carefully put a few bucks away in a long-term investment.
It takes just a couple of minutes to sign up and get your free stock — you may even just get a share of the “next Amazon.”
Day 2: See If You Can Get 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 5% 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.”
Day 3: The Easiest Day of the Challenge — Give Your Family up to $1M
A million bucks? Easy? Those probably aren’t two thoughts you normally put together. But seriously, today is the easiest day of our challenge.
It sounds too good to be true, but a company called Bestow could help you do this using something called term life insurance. This is something you can check off your list in minutes.
You can get a free quote from Bestow until you’re 54 years old, but the sooner you take care of this, the cheaper it will be. (We hear some people are getting it for as little as $8 a month.)
Today was meant to be simple, so go ahead and take the rest of the day off.
Day 4: Cancel Your Car Insurance
When was the last time you shopped around for car insurance? Was it more than six months ago? If so, you’re probably overpaying — by hundreds of dollars. Yep. Experts say you should compare rates twice a year to get the best deal.
Twice a year? Yeah, we don’t want to do that either.
Thankfully, a free website called The Zebra will do the shopping for you — in just two minutes.
All you have to do is enter basic information about your car and driving history, then The Zebra compares prices from more than 100 companies to find you the best deal.
The Zebra says it saves its users up to $670 a year.
If you find a policy you like, you can sign up online instantly.
Day 5: Cut Your Cell Phone Bill to as Little as $5
How long have you been with your cell phone company? Probably a while, right? Which means you’re probably paying way too much.
But we found a discount wireless company called Tello that offers plans starting at just $5 a month. How much are you paying now? Exactly. Imagine cutting that to just $5.
Tello operates on Sprint’s nationwide network, offering 4G LTE data everywhere Sprint does. It lets you choose a wireless plan based on how many minutes and how much data you want, and you can even use Tello’s coverage tool to see how strong its network is where you live.
You can bring your own phone (Tello works with any Sprint-compatible phone), or buy a new one through them. Even better — there are no early termination or activation fees, no contracts or phone-exclusive plans, no tricks of any kind.
If you decide you don’t like it, you can always just change your mind. See how much you could save here.
Day 6: Withdraw $5 and Buy 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. That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying 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 or Apple, for as little as $1.**
The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.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 7: Stop Paying Your Credit Card Company
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 a company called AmOne could help you pay them off tomorrow.
Here’s how it works: AmOne will match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one 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.
AmOne 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.
**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.
**** Financial investment involves the risk of loss