The 9 Biggest Money Secrets Most Rich People Won’t Tell You

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You know what they say about secrets. They’re no fun.

And when it comes to the super rich, trust us — they’ve got plenty of secrets. And why would they reveal the keys to their success with you, anyway? The more for them, the better, right?

Well, the cat’s out of the bag. These are the biggest money secrets the elite don’t want you to know:

1. Invest in Real Estate Without the Volatility — You Only Need $500

You’re not the only one who daydreams about making money in your sleep. Investing in real estate is one of the best ways to earn passive income. The only problem? You need to have lots of money.

Well, you used to…

With a company called Connect Invest, you can get your foot in the door for just $500, investing in what are called short notes. And, if you make your first investment before December 31st, you can earn a $20 bonus.

Basically, you’re buying the debt that wealthy developers take on to fund their real estate projects — and they have to pay you back, with up to 9% (annualized rate) in interest… while you sleep.

With Connect Invest, you’ll invest for terms of 6, 12, or 24 months, during which you’ll receive monthly fixed-interest payments between 7.5% and 9% (annualized rate). You could earn a legit passive income with those rates — and it’s way higher than what you’d earn with your savings account!

Connect Invest carefully vets each real estate project and borrower. And don’t worry, all loans are backed by real estate collateral. In the rare event of a default, Connect Invest’s sister company will foreclose on the property with the investors’ approval and sell it to recover your investment.

It’s super easy to set up your free account and start investing. To earn your $20 bonus, select “Penny Hoarder” as a referral source and apply promo code “PH20.”

2. Cancel Your Car Insurance

You might not even realize it, but your car insurance company is probably overcharging you. In fact, they’re kind of counting on you not noticing. Luckily, this problem is easy to fix.

Don’t waste your time browsing insurance sites for a better deal. A company called Insurify shows you all your options at once — people who do this save up to $996 per year.

If you tell them a bit about yourself and your vehicle, they’ll send you personalized quotes so you can compare them and find the best one for you.

Tired of overpaying for car insurance? It takes just five minutes to compare your options with Insurify and see how much you could save on car insurance.

3. Get Paid up to $360/Year With This Free Debit Card

Wouldn’t it be nice if you got special treatment wherever you went? You can actually get rewards wherever you shop, using this free debit card from Discover.

You’ll earn 1% cash back on every single purchase you make using your Discover® Cashback Debit account, on up to $3,000 monthly.* There’s no impact on your credit score for signing up and no minimum balance requirements ever.

Need groceries? Tap your card for cash back. You can also get paid sooner with Early Pay direct deposit, protect against overdrafts and access to over 60,000 ATMs without fees. You can handle all of your banking needs through the app and connect a virtual wallet like Apple Pay to amplify your rewards. And on top of all that, checking-account deposits are FDIC-insured up to the maximum amount allowed by law.

Does your bank do all that? If not, open a free Discover checking account to get special treatment from a bank that will actually put money back into your account.

*See website for details.

4. Never Miss a Payment Again — with an All-in-One Solution for Managing Bills and Building Credit

In today’s world of subscription services and Buy Now, Pay Later (BNPL) schedules from companies like Klarna, Afterpay, and Zip, it’s easy to quickly lose track of all your monthly expenses.

And just like that, here come the late fees, the spiraling debt — and whoops, your once-stellar credit score is now tanked.

That’s where Cushion comes in. Starting at $4.99 a month, it’s the only financial platform out there designed to help you keep track of and promptly pay all of your recurring bills, including BNPL (Afterpay, Klarna, PayPal, and more) loans — while building your credit history at the same time. In fact, Cushion is the only platform that reports your positive ‘Pay in 4’ payments (including Afterpay, Klarna, PayPal, and more) to the credit bureaus, ensuring these payments are part of your credit history and are helping you build credit. 

You may be thinking, “Oh, cool, another subscription.” But think of it as the catch-all service for streamlining your recurring payments, saving you from late fees, building your credit, and removing unnecessary financial stress.

It’s quick and easy to sign up. Securely connect your accounts to Cushion, and it’ll automatically organize your bills and BNPL payments all in one simple dashboard. Track due dates, add them to your calendar, pay securely using the virtual Cushion card, and much more. Using the virtual Cushion card ensures that your existing payments count toward building your credit history.

And just like that, you take back control of your finances. Join Cushion now and enjoy the benefits of stress-free bill management while building your credit.

5. Make Up for Lost Time and Leave Your Family $250K+

We never seem to have enough savings or investments. But there’s one particular way to make up for that shortfall: life insurance.

None of us like to think about what happens to your family if you pass, but this is a smart way to free them from a burden – and give you peace of mind.

With NerdWallet, you can get multiple life insurance quotes all in one place and find a plan that’s probably far more affordable than you think.

You can choose whole life plans if you want to do it once, forget about it and have coverage for the rest of your life. Or you can pick from term life plans to get even lower rates with coverage that can last a few decades.*

Is it finally time to get covered? It’s easy to get life insurance quotes from NerdWallet to see just how affordable a good policy could be for you.

6. Protect Your Household from System & Appliance Breakdowns — and Save BIG!

It’s possible your fridge or HVAC system could turn on you at any moment, and there’s nothing your homeowner’s insurance would do to protect you.

Besides, would you really want to wait on insurance to get around to begrudgingly sending out help?

Choice Home Warranty’s plans deliver rapid response times for household repairs. Service is available 24 hours a day via their app, website, or phone.

A small monthly fee protects your washer, dryer, HVAC system, stove, fridge, and more—things your insurance company won’t. 

And not to keep bashing your awesome homeowner’s insurance, but these home warranty plans cost way less and could save you much more money than insurance.

Choice Home Warranty has protected more than 2 million homes from having to cancel plans or lean on credit cards. With a network of over 25,000 insured technicians, help is never far away.

Learn how you can get a Free Quote. Just take this 30-second quiz to learn how much coverage you need to protect your finances from appliance repairs.

7. Have 10K+ In Investments? This Free Financial Plan Could Save You Up to $3,500/Year

You feel like you’ve always been on top of your investments, and you’re proud of how far you’ve come. But you may still be wondering if you’re actually doing enough to fully secure that rich retirement you know you deserve.

That’s why having a financial plan in place is one of the smartest decisions you could make.

With The Penny Hoarder, you can get a customized financial plan for free. Anyone is eligible for a free financial plan, but if you have $10,000 or more in investments (or $200,000 if you are retired), you could qualify to connect with a personal financial advisor to get an in-depth review of your finances and plan your next money moves together with confidence.

All you have to do is answer a few questions, and you’ll get your free, custom financial plan.

The best part? This could save you up to $3,500 per year. And it’s completely free — and totally anonymous. You won’t be bombarded with ads or sales pitches.

There’s literally no catch. Just sound financial advice customized for you. Get your free financial plan here.

8. Slash Your Credit Card Debt — Unlock Up to 18 Months of No Interest Payments

Struggling with credit card debt? You’re likely also dealing with high-interest charges that can significantly impact your financial situation — it’s a tough problem to sort out.

But where to even start?

If you have good to excellent credit, switching to one of these top-tier 0% intro APR cards from The Ascent’s carefully curated list could help you consolidate payments and cut your interest for up to 18 months. You could not only fast-track your debt repayment but also save thousands in interest.

The Ascent is picky, meaning they’ll only highlight cards that really stretch your dollar and cut down on costs. Plus, they break down everything you need to know: from intro-rate deals and welcome bonuses to rewards and fees — no surprises, just clear info.

So if you’re looking for a financial lifeline without the drag of accumulating interest, check out The Ascent’s list of best cards with 0% Intro APR offers, and wave goodbye to interest for up to 18 months.

9. Add an Extra $300 to Your Account Just By Making Qualifying Deposits

Here’s the deal: If you’re not banking with a credit union called PSECU, you’re missing out on extra cash. And who doesn’t want extra cash right now?

PSECU will give you $300 after just a few months of keeping your money there.

  • Get your first $200 when you sign up with promo code RightNote and set up a direct deposit of at least $500 monthly.
  • Get another $100 if you maintain the minimum direct deposit amount for three months in a row.

That’s $300 just for banking normally.

Opening a checking account is free, and there’s no minimum deposit or fees. Plus, there are more than 70,000 surcharge-free ATMs and rebates for non-network ATMs. You’ll also get no-fee overdraft protection if you have a backup source of funds.

Credit unions sometimes have waitlists, but PSECU doesn’t right now. Apply to join PSECU here and start earning your $300 in free cash (offer ends Dec. 31, 2024 ).

**Your first $200 is available when you sign up with promo code RightNote and set up a direct deposit of at least $500 monthly. You’ll get another $100 if you maintain the minimum direct deposit amount for three months in a row.

*Eligibility requirements apply

*Users must meet certain suitability standards pursuant to the Connect Invest II Offering Circular and make an investment on or before December 31, 2024. Investors will receive their $20 bonus with their first interest earnings.

Past performance does not guarantee future results or success. The material contained herein does not constitute an offer to sell or a solicitation of any offer to purchase these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

*NerdWallet: believes everyone should be able to make financial decisions with confidence. And, while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and teh tools we create are objective, independent, straightforward – and free. 

Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.

1. APY= Annual Percentage Yield. The APY is accurate as of the 3/25/2024 dividend declaration date. A $ 1,000 minimum deposit is required to open a Regular Alliant Certificate. For those with a larger deposit, a $75,000 minimum deposit is required to open an Alliant Jumbo Certificate. If your Jumbo Certificate balance falls below $75,000, it will convert to a Regular Alliant Certificate, which may pay a lower rate. You must be an Alliant member. Alliant Certificates are available as Regular Share Certificates and Jumbo Share Certificates. Both Regular and Jumbo Certificate types are also offered as Traditional IRA Certificates, Roth IRA Certificates,  and SEP IRA Certificates. Prior to opening an IRA Certificate, you must have or establish an IRA with Alliant. You may not add any additional money to your Certificate after opening. Dividends compound monthly and are paid on the last day of the month and at maturity. A penalty will be imposed for early withdrawal of any principal amount. There are no penalties for monthly dividend withdrawals. Early withdrawal penalties do apply if the Certificate is closed before the maturity date unless the Certificate funds are moved to Alliant Retirement and Investment Services. If you wish to move your Certificate funds to Alliant Retirement and Investment Services, you must wait until 7 days after your Certificate has been opened. Other exceptions to early withdrawal penalties may be allowed. Monthly dividend withdrawals are not eligible on IRA Certificates if owner is under age 59 1/2. Any monthly withdrawals or transfers reduce earnings. If you change the term of your renewed Certificate, the beneficiary(ies) need(s) to be reestablished by completing a Beneficiary Add/Delete Form. (Not applicable to IRA Certificates). The joint owner designated at the time of Certificate opening will remain as joint owner if you renew your Certificate with Alliant. Neither the primary account owner or joint owner may be a beneficiary on the Certificate account. You are not locked into a rate until you open or renew your Alliant Certificate. Alliant Certificate rates may change daily. Fees may reduce earnings on the account.

12-17 months
Regular Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 5.15% APY on balances between $1,000 and $74,999.99. Jumbo Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater. IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.03% – Compounded Annual Percentage Yield of 5.15% APY on balances between $1,000 and $74,999.99. Jumbo IRA Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.08% – Compounded Annual Percentage Yield of 5.20% APY on balances $75,000 or greater.

2.The savings dividend provides an Annual Percentage Yield (APY) of 3.10%. The APY is accurate as of the 3/25/2024 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividends may change after the account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts, and IRA. Fees may reduce earnings on the account.