Here’s Why Your Coworkers Always Seem to Have More Money Than You
Is it as simple as better pay? Could your coworker really be making that much more than you while doing the same job? How do they afford all the exotic vacations, fancy cars and the prized ZIP Code they call home?
Better pay might be a factor. But there are lots of financially savvy moves your carefree coworkers could be making behind the scenes — moves that save them thousands of dollars each year.
These are some of the most impactful things your coworkers are probably doing.
1. They Cancel Their Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But don’t waste your time hopping around to different insurance companies looking for a better deal.
Use a website called EverQuote to see all your options at once.
EverQuote is the largest online marketplace for insurance in the US, so you’ll get the top options from more than 175 different carriers handed right to you.
Take a couple of minutes to answer some questions about yourself and your driving record. With this information, EverQuote will be able to give you the top recommendations for car insurance. In just a few minutes, you could save up to $610 a year.
2. They Stop Paying Their Credit Card Company
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates — some up to 36%. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 2.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
You don’t need a perfect credit score to get a loan — and comparing your options won’t affect your score at all. Plus, AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.
It takes less than a minute and just 10 questions to see what loans you qualify for — you don’t even need to enter your Social Security number. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.
3. They Get Paid Up to $140/Month Just for Sharing Their Honest Opinion
It sounds strange, but brands want to hear your opinion. It helps them make business decisions, so they’re willing to pay you for it — up to $140 a month.
A free site called Branded Surveys will pay you up to $5 per survey for sharing your thoughts with their brand partners. Taking three quick surveys a day could earn up to $140 each month.
It takes just a minute to create a free account and start getting paid to speak your mind. Most surveys take five to 15 minutes, and you can check how long they’ll take ahead of time.
And you don’t need to build up tons of money to cash out, either — once you earn $5, you can cash out via PayPal, your bank account, a gift card or Amazon. You’ll get paid within 48 hours of your payout being processed, just for sharing your opinions.
They’ve already paid users more than $20 million since 2012, and the most active users can earn a few hundred dollars a month. Plus, they’ve got an “excellent” rating on Trustpilot.
It takes just a minute to set up your account and start getting paid to take surveys. Plus, right now, you’ll get a free 100-point welcome bonus just for becoming part of the community.
4. They Get Paid up to $83 to Win Solitaire Games
Lots of us already play Solitaire on our phones for fun or just to pass the time. Want to see if you can win money at it?
There’s a free iPhone app called Solitaire Cash that lets you play for real money. You could get paid up to $83 per win.
You might be thinking: There’s got to be a catch. This is definitely one of those spammy apps, right?
Wrong. There really isn’t a catch. Most of the games are free, but cash players can join higher-stakes tournaments for bigger cash prizes. But there’s no pressure — there aren’t even any annoying ads.
With each game, you’ll battle it out against at least five other players. Everyone gets the same deck, so winning is totally a matter of skill. The top three players who solve the deck fastest can win real money — anywhere from $1 to $83.
Over on the App Store, it has over a million downloads and more than 15,000 ratings, averaging 4.7 stars (out of 5).
To get started, just download the free app and start playing your first game immediately.
5. Get a Higher Yield than a High-Yield Savings Account with a Treasury Account
Want to do more with your savings? Yeah, us too.
Well, a company called Public could help you earn a 5.40% yield* on your money — that’s 13 times faster than a regular savings account!**
Instead of stashing your money in a savings account, Public offers a Treasury account that allows you to invest in treasury bills. Treasuries basically work like a loan that you give the government, which pays you back later, plus interest. And being backed by the U.S. government makes them one of the safest*** ways to invest your money.
Unlike traditional savings or high-yield savings accounts, you don’t have to pay state or local taxes*** on income you earn from Treasury bills. So, depending on where you live, more of your savings may go back into your pocket.
Once you’ve signed up and created your account, you can easily transfer money by linking a bank account. From there, you can enroll in a Treasury account and start investing for as little as $100. After your Treasury bills mature, Public will automatically reinvest to create a compounding effect. You can also sell your Treasury bills at any time*.
It only takes a few minutes to enroll in a Treasury account with Public to start earning more on your savings.
This is a paid endorsement for Public.com.
6. They Own a Piece of Amazon, Google or Netflix
Saving for retirement is smart. Having your company contribute to your 401(k) is helpful. But having an ownership interest in a Fortune 500 company that you don’t even work for help get you to your retirement goal? That’s awesome.
And it’s surprisingly easy to make happen, with an app called Stash.1 It lets you own pieces of well-known companies, like Amazon, Apple, Google and more for $5 or less.
Seriously — with only a few dollars, you can invest in thousands of stocks and ETFs, which can help you grow your investing portfolio and reach your retirement goals. The best part? Some companies may even send you a check every quarter for your share of profits, called dividends. If these companies profit, so can you.
It takes two minutes to sign up, and your investments are protected. With Stash, investments are held by their custodian, Apex Clearing Corporation, a member of the Securities Investor Protection Corporation (SIPC) — that’s industry talk for, “Your money comes with protection.”2
Plus, when you use the link above, Stash will give you a $5 bonus once you deposit $5 into your account.3
7. They Know You Don’t Have to Pay Full Price — Ever
Most rich people didn’t get that way by accident. They watch their money like a hawk. You’d be surprised at the lengths even the wealthiest people go to to save a buck — they almost never pay full price.
Good news: The rest of us don’t have to, either. A free site and desktop extension called Rakuten works with just about every online store you shop at, and they can make sure you get some cash back every time you buy — up to 15% cash back.
We talked to Denver resident Colleen Rice, who’s earned more than $526.44 in cash back since she started using Rakuten. For doing nothing. Seriously — she just uses Rakuten for things she already has to buy, like rental cars and flights.
It takes less than a minute to open a Rakuten account and start shopping like you normally would. You just need an email address.
They’ll pay you with a check in the mail every few months or deposit it to your PayPal account. Talk about money for nothing.
1For retirement, Stash offers access to traditional or Roth IRAs.
2To note, SIPC coverage does not insure against the potential loss of market value. Apex Clearing Corporation is a third-party SEC-registered broker-dealer and member FINRA/SIPC.
Remember, not all stocks pay out dividends. And there’s no guarantee any stock will pay dividends in a quarter or year. Dividends may be subject to additional taxes, and are considered taxable income. Please refer to the IRS for additional information.
Investing minimums for fractional shares start at $0.01 for a Personal Portfolio
3Offer is subject to Terms and Conditions. To be eligible to participate in this Promotion and receive the Bonus, you must complete the following steps: (i) successfully complete the designated registration process of opening an individual taxable brokerage account (“a Personal Portfolio”), (ii) link a funding account (e.g. an external bank account) to your Personal Portfolio, AND (iii) initiate and complete a minimum deposit of at least five dollars ($5.00) into your Personal Portfolio. In the event you only complete the designated registration process to receive the Financial Counseling Service (as defined in your Advisory Agreement) or do not otherwise complete the account opening process for an individual taxable brokerage account (“Personal Portfolio”), you will not be eligible to receive the Bonus.
The Penny Hoarder is a paid solicitor of Stash.
This information is for educational purposes only. 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. All investments are subject to risk and may lose value. All product and company names are trademarks ™ or registered ® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
* Yield is an annualized 26-week T-bill rate (as of 11/21/2023) when held to maturity. Rate assumes holding T-bill until maturity (26-weeks). T-bills liquidated prior to maturity may result in a loss of interest or principal. Rate is gross of fees and is annualized. Fee schedule at public.com/disclosures/fee-schedule.T-bills are purchased in increments of $100 par value at a discount; any remaining balance after purchase is held in cash. All investing involves risk of loss. Past performance is not indicative of future results. Risks. US members only.
** Traditional savings rate sourced from Bankrate as of 10/3/23. “Best” high-yield savings accounts are compared to the average APY (annual percentage yield) as compiled by NerdWallet.com as of 10/11/23. Public is not responsible for the accuracy, timeliness, or completeness of information on third-party websites. Nor Public Holdings or its affiliates are a bank and Public does not offer savings accounts. Securities on Public.com are not FDIC insured. You should contact your bank for current and complete information about available account types, including applicable interest rates. Risks.
*** T-bills are subject to price change and availability – yield is subject to change. Past performance is not indicative of future performance. Investments in T-bills involve a variety of risks, including credit risk, interest rate risk, and liquidity risk. As a general rule, the price of a T- bills moves inversely to changes in interest rates. Although T-bills are considered safer than many other financial instruments, you could lose all or a part of your investment.Investment income on T-bills is taxed federally by the Internal Revenue Service. Income earned from T-bills is not subject to state tax, and is not subject to local income taxes. Jiko U.S. Treasuries Risk Disclosures for further details.
Investment services and the Brokerage Accounts for treasury securities are offered by Jiko Securities, Inc. (“JSI”) member FINRA and SIPC.
Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. Banking services and the Bank Account are provided by Jiko Bank, a division of Mid-Central National Bank. Available to US members only. Full disclosures at public.com/#disclosures- treasuries