2 Things You Can Spend Money on That Will Actually Make You Richer

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Saving money is great, but it won’t make you rich.

No matter how many dollars you put into a savings account, the national average .05% interest you’d earn won’t expedite your millionaire status.

And cutting your costs can only go so far, explains Certified Financial Planner Robin Hartill (who is also an editor and financial advice columnist here at The Penny Hoarder).

It can definitely help with your short term goals, she says, but if you want to be truly richer, sometimes you need to spend money to make money. By diverting some of your cash into these assets, you’ll be on a faster path to your financial goals.

 

1. Use This Secret Debit Card

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 right now?

Yep. When you sign up for a debit card called Aspiration, you could get up to 5% back when you swipe at certain stores — plus they give you up to 50 times the normal national interest rate on your savings balance.

It’s perfect for earning extra cash for things that are already on your shopping list. You were going to buy these things anyway — why not get this extra money in the process?

This card used to have a huge waiting list, but now you can sign up for free.

Just 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.”

2. Download This App to Get Free Stock

If you feel like you don’t have enough money to start investing, you’re not alone. But guess what? You really don’t need that much — and you can even get free stocks if you know where to look.

Whether you’ve got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so the value of that stock could vary — still, it’s a nice way to help you build your investments.

Kari Faber is a staff writer at The Penny Hoarder.

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