The 5 Biggest Money Secrets Most Rich People Won’t Tell You
Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)
But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht.
These are simple money moves any normal, non-millionaire person can make today. Each secret can get you closer to achieving your big goals.
Take a look:
1. You Can Cancel Your Car Insurance
Did you know you can save some serious money just by switching car insurance companies?
Its true — rates are at historic lows, and you could be paying way less for the same coverage. All you need to do is look for it.
But don’t waste your time hopping around to different insurance companies. 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. You Can 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…
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 Fiona could help you pay off that bill as soon as tomorrow.
Here’s how it works: Fiona can 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.
If your credit score is at least 620, Fiona can help you borrow up to $250,000 (no collateral needed) with fixed rates starting at 2.49% and terms from 6 to 144 months.
Fiona 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.
All that credit card debt — and the anxiety that comes with it — could be gone by tomorrow.
3. Use This Secret Banking Account
Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra cash.
Yep. By signing up for a free debit card called Aspiration you could get up to a 5% back every time you swipe, plus they give you up to 50x the normal interest rate on your balance.
Need to buy groceries? Get extra cash.
Need to fill up the tank? Bam. Even more extra cash.
This card used to have a huge waiting list, but you’re now eligible to sign up for free.
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.
4. This App Can Help Save You $720 This Year
Keeping track of your subscription services can feel like a game of whack-a-mole. Just when you think you’ve got a handle on them all, another random charge pops up on your bank statement.
It’s easy to let it slide — $5 here, $10 there. But it can seriously add up. Luckily, an app called Rocket Money can show you exactly where you’re wasting money on forgotten subscriptions and bills that are overcharging you. It saves the average person $720 a year.
Rocket Money helps you find and cancel things like unused streaming subscriptions and expired free trials, and they’ll also negotiate lower monthly rates with your internet company, phone company and other bills — for the same service.
Rocket Money has already saved users more than $245 million, and it uses Plaid to make sure all your sensitive information is safe. The app does all the heavy lifting. All you have to do is sign off on these money-saving changes.
It takes just a few minutes to get started and see how much you could save this year. Just register an account and link your bank account, then sit back while Rocket Money goes to work.
5. This App Will Pay Off Your Credit Cards
Even when you pay more than the monthly minimum, credit card companies still like their chances. They know it’s only a matter of time before you miss a payment, increase your balance or go back to paying the minimum.
High-interest rates and fees are carefully calculated to keep you locked into years of carrying balances on your credit cards. But an app called Tally can help you break free.
First, Tally gives you a low-interest line of credit* to consolidate your balances. From there, Tally optimizes your monthly due date (no more scrambling to keep up with multiple due dates).
Once you pay on your new balance regularly, Tally will even give you discounts to help you pay it off even faster — you could pay off all of your cards in half the time.
Simply download the iOS app, scan in your credit cards, and if you qualify (with a minimum credit score of around 580), Tally will give you a line of credit to get your credit cards under control.
Tally is currently available in Ala., Alaska, Ariz., Ark., Calif., Colo., Conn., Del., Fla., Ga., Hawaii, Idaho, Ill., Ind., Iowa, Kan., Ky., La., Md., Maine, Mass., Mich., Minn., Miss., Mo., Neb., N.H., N.J., N.M., N.Y., N.C., N.D., Ohio, Okla., Ore., Pa., R.I., S.C., S.D., Tenn., Texas, Utah, Va.,Wash., Wis., Wyo.
**subject to approval
*Tally Technologies, Inc. (NMLS # 1492782 NMLS Consumer Access, [See Licenses]). Lines of credit issued by Cross River Bank, Member FDIC, or Tally Technologies, Inc. (“Tally”), as noted in your line of credit agreement. Lines of credit not available in all states.
Loans made by Tally pursuant to California FLL license or other state laws.
To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. Based on your credit history, the APR (which is the same as your interest rate) will be between 7.90% – 29.99% per year. The APR will vary with the market based on the Prime Rate. Annual fees range from $0 – $300.
1 This is a limited time offer. To be eligible for cash rewards, a minimum deposit, every 30 days, must be made into your Sesame Cash account. Rewards earnings are available for credit score improvements of ten points or more within a 30-day reward cycle. Improvements are calculated from your baseline credit score, as determined by Credit Sesame. Please review the full program terms for more details, including the minimum deposit amount for this program term.
2 Cash back offers are powered by Empyr, Inc. and Button, Inc. Cash back requires the activation of any active offer before payment is made. Offers vary by geographic location and are subject to change. Please review the full program terms for more details.