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10 Lessons to Take From Millionaires Who Are Really Good With Money

Disclosure: Some of the links in this post are from our sponsors.

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 tip can get you closer to achieving your big goals.

Take a look:

1. They Take Money Out of Their Checking Account

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?

Yep. A debit card called Aspiration gives you up to a 10% back every time you swipe. How much does your current bank offer you?

Need to buy groceries? Extra cash.

Need to fill up the tank? Bam. Even more extra cash.

You were going to buy these things anyway — why not get this extra money in the process? Do yourself a favor and deposit $100 into an Aspiration account today so you can start taking advantage.

To get started, 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. Leave Your Family up to $1M

Oh, to be a millionaire. Look, not all of us have the money to set up trust funds for our loved ones. But you could still leave them up to a $1 million in life insurance — and you don’t even need to have the money in the bank.

You’re probably thinking: I don’t have the time or money for that. But this take minutes — and you could leave your family up to $1 million with a company called Bestow.

We hear people are paying as little as $8 a month. (But every year you wait, this gets more expensive.)

It takes just minutes to get a free quote and see how much life insurance you can leave your loved ones — even if you don’t have seven figures in your bank account.

3. They Cancel Their Car Insurance

How often are you even using your car right now? Regardless, there’s one thing we’re nearly certain of — you’re overpaying on car insurance.

In fact, you could be wasting nearly $900 this year.

Luckily, we found an app called Jerry, and it can tell you if you’re paying too much on your car insurance. In fact, Jerry says it finds that people, on average, are overpaying by about $887 a year. 

Penny Hoarder writer and editor Robin Hartill was able to cut her bill by $70 per month for the same basic coverage.

“It found a policy for me at a different company that I had tried getting a quote from on my own, she says. “I’m not sure what kind of magic Jerry wrangled, but it saved me around $70 a month. That’s more than $800 that I’m planning to add to my emergency savings over the next year.”

Once you sign up, you don’t have to worry about shopping around for insurance again. Jerry will automatically do that for you. Also, it won’t cost you anything — it’s all free.

And if you’re worried about ditching your current policy, know you can back out at any time, even before your policy runs out. In fact, by law, insurance companies have to give you a refund for the remaining unused days on your policy. If there are any cancellation fees involved (these are usually small), Jerry will let you know.

Signing up is easy. When we tried it, it took less than two minutes, then Jerry took care of the rest. All we had to do was type in a phone number, then answer a few basic questions about vehicle type, level of education, etc. 

To find out if you’re getting ripped off (and how much you could save), start with the online questionnaire, then see your final price. 

4. They Don’t Waste Hundreds on Homeowner’s Insurance

A neighborhood at sunset.
Getty Images

You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy.

This isn’t something you actively think about — you just know you’re required to have it.

The problem is, you’re paying too much. Luckily, an insurance company called PolicyGenius makes it easy to find out how much you’re overpaying.

Policygenius’ policies start at just $25/month. And just because you’re saving money doesn’t mean you’re skimping on coverage. Policygenius will make sure you have what you need.

Just answer a few questions about your home to get started.

5. Spend $5 to Own a Piece of Amazon, Google or Other Companies

Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.

But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.

That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.

That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1.

The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends. It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your investment account.

6. Stop Paying Your Credit Card

If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…

Your credit card is getting rich by ripping you off with insane rates, but a website called Fiona could help you pay them off tomorrow.

Here’s how it works: Fiona will 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.

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.

7. Use up Your Entire Paycheck

No, we’re not talking about going to Whole Foods and buying out its fancy cheese supply (though that’s the first thing we’d do if we had $1 million). Instead, we’re talking about creating a zero-based budget, a budget that finds a place for your every dollar.

You’ll want to start by tracking a month of expenses. How much do you (or don’t you) have remaining? Then, consider your financial goals. Do you want to save money? Invest money? Pay off debt?

Work backward to cut your expenses until you can achieve that goal. It might take some patience, but it’ll pay off.

8. Add $225/Month to Your Bank Account

Here’s the thing about millionaires: they never pass up an extra paycheck.

What if we told you a research company would pay you to watch videos on your phone?

It’s too good to be true, right? 

But we’re serious. InboxDollars will pay you to watch short video clips online. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.

All you have to do is choose which videos you want to watch and answer a few quick questions about them afterward. 

InboxDollars won’t make you rich, but it’s possible to earn up to $225 per month watching these videos. That’s money you can store in your savings account or start investing. 

It’s already paid its users more than $56 million.

It takes about one minute to sign up, and you’ll immediately get a $5 bonus to get you started.

9. Get up to Free $500 Stock

Imagine if you had bought one share of Amazon for $18 when the stock first went public. Today, it would be worth more than $20,000 — despite all the ups and downs in the stock market.

Here’s the thing about millionaires: They know the sooner you start investing, the better. And we found a company that will give you free stock to get started.

An investing app called Robinhood will give you up to $500 worth of free stock in companies like Visa, Microsoft and GE, just for downloading its app and opening a free account.

Robinhood is free and easy to navigate, which is why more than 10 million people use it — including both news junkies looking to outsmart the market and people who want to carefully put a few bucks away in a long-term investment.

It takes just a couple of minutes to sign up and get your free stock — you may even just get a share of the “next Amazon.”

10. Grow Your Wealth By Learning From Others

Two woman sitting next to each other in an office-type setting, and they go over material on a cell phone and laptop.

One of the best ways to get your money in order? Learning from others! These could be the millionaires themselves, personal finance experts or real-life people who’ve had success. Search the internet for blogs and websites, listen to podcasts and read books.

Here are a few of our favorite resources (ahem, besides ourselves):

“How to Money” podcast

“The Total Money Makeover” by Dave Ramsey

“The Side Hustle Show” podcast

“Rich Dad, Poor Dad” by Robert Kiyosaki

“The Money Nerds” podcast

“The Richest Man in Babylon” by George Samuel

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