The 8 Biggest Money Secrets Most Rich People Won’t Tell You
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. Earn 4.25% Interest on Your Savings and Still Access Your Money Any Time
You’ve been with the same bank for years, and how do they repay your loyalty? With a measly 65 cents in earned interest every year.
And you’re not alone. The national average interest rate for savings accounts is just 0.47%.
But there’s a way to grow your money 9 times faster than the national average—completely risk-free.
When you sign up for a Capital One 360 Performance Savings Account, you’ll earn 4.25% APY on your account balance. Just to be clear, that’s almost 10 times the national average on a regular savings account.
There’s no minimum deposit to open and keep your account. And you’ll never pay any monthly or maintenance fees, either.
You also don’t need to worry about accessing your savings—you can withdraw your money at any time with no penalties. Plus, all your money is FDIC-insured, which basically just means it’s super safe.
Signing up for your Capital One 360 Premier Savings Account only takes a few minutes. After that, you can sit back and watch your savings grow.
2. 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.
3. Cut $996 From Your Car Insurance Bill — In 5 Minutes
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.
4. 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. And 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% in interest… while you sleep.
With Connect Invest, you’ll invest for terms of six, 12 or 24 months, during which you’ll receive monthly fixed-interest payments between 7.5% and 9%. 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, make sure to select “Penny Hoarder” as a referral source, and apply promo code “PH20.”
5. Stop Paying for Your Past — You Could Save $150/mo on Your Car
If you’ve been paying your car loan on time for months, you’ve probably noticed lenders looking at you differently. All that attention means your hard work is paying off, and you’re in a position to give yourself a big break.
Just because you can afford to pay your original loan doesn’t mean you should keep overpaying. Most people qualify for significant savings in just three to six months.
A company called ReFiJet can help you update your car loan to reflect the new you. ReFiJet saves people an average of$150 a month when they refinance their auto loan through them.
There’s no impact on your credit score to see how much you can save. And ReFiJet’s service fees are about half the of what competitors charge — it’s all rolled into your refinanced loan, so you pay nothing out of pocket.
All you have to do is enter some basic information on ReFiJet to get a quote. If you like your offer, a top-rated customer service agent will walk you through the end of this short process. They’ve got an A+ rating with the Better Business Bureau, so you can refinance with confidence.
6. 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.
7. 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.
8. Let This App Spot You Up to $250 (with No Interest)
Even small financial missteps can come with painful consequences. Anybody who’s ever had an overdraft fee can tell you that.
That’s why we like a money app called Cleo — it can spot you up to $250 to avoid overdraft fees.* No interest, no credit check and no direct deposit required.
Cleo is a cheeky chatbot that’s also programmed to help track your spending and crush your bad money habits before they get serious. Cleo can round up your purchases to the nearest dollar and save the difference, or to “fine” you for overspending at Target. Whatever saving technique you choose, she’ll automatically transfer that money into your savings account each week. Just sit back and watch your savings grow.
Cleo has more than 5+4 million users and has 4.6 out of five stars with over 80 thousand reviews in the app store. Signing up only takes two minutes.
Get the app and let it spot you up to $250* when you need it, so you never have to pay an overdraft fee again.
*Eligibility requirements apply
*Users must meet certain suitability standards, pursuant to the Connect Invest II Offering Circular. Users must 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.
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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.
