If you want to be wealthy, you have to think like wealthy people do. Some of the richest people in the world like Warren Buffet and Mark Cuban are not there by accident. They have done certain things consistently over time which has helped get them where they are today.
Here are 7 things you can do in order to increase your wealth:
1. Make More Money This Week
One of the best things you can do to increase how much you can invest is to find ways to increase your income. Here are a couple ways that you can do that starting today:
Lyft will pay you to drive people around. This is a great way to make money around your already busy schedule. They are even giving a $300 bonus to those that sign up right now.
Survey Junkie will pay you for taking surveys in your spare time. They have over 6,000,000 members and this company is cool because they will pay you instantly with cash via Paypal.
Swagbucks will pay you cash for things you do every day like surfing the internet, watching videos, etc. They have paid out over $194 Million to their members.
2. Save Money Using a Robot
How would you like to save money without having to do much effort? Well, now you can.
There is a free tool called Trim which will find you cash back, cancel your unused subscriptions, and renegotiate your bills for you. They will even renegotiate your cable bill for you. The average person saves $30 per bill.
All you do is sign up, connect an account and their robotic assistant will contact you with ways that you can save money.
It is actually really cool and easy to use.
3. Get Cash Back on Things You Already Buy
Want to make money for stuff you buy everyday? If so, you should be using a cash back credit card. But, if you’ve had trouble with credit card debt in the past from overspending, Debitize has your back.
Debitize is a new tool that will help you automatically pay your credit card bill in full each month.
Here’s how it works:
- You swipe your credit card to pay like normal.
- Debitize pulls the same amount out of your checking account, just like if you had used a debit card instead of a credit card.
- The funds are stored in your Debitize account until the end of the week.
- At the end of the week, Debitize will apply those funds to your credit card balance, bringing it back to zero.
All you have to do is sign up for a Debitize account and connect your credit card and checking account. It’s that easy! This is too good to not do.
4. Improve Your Credit
Although I am not a fan of borrowing money, it can be necessary to buy a home. It is even used sometimes for employment or renting a home as well.
You may want to check out Credit Sesame which will not only let you monitor your credit, but it also will update your free credit score once per month as well.
5. Open a High Yield Savings Account
Traditional banks pay next to nothing on savings accounts these days. I was tired of getting such a low return on my savings, so I started to research banks that were paying the most interest. I came across CIT Bank which is FDIC insured and pays up to 1.35% in interest. This is crazy because this is 22x the normal savings account!
They require a minimum of $100 to open an account and they have no maintenance fees. Definitely check them out if you are getting less than 1% on your savings.
6. Invest in Crowdfunded Real Estate
Did you know that you could invest in real estate with as little as $500? Well, now with crowd-funded real estate you can. Fundrise is one of the more popular companies that will allow you to invest at this level.
This way you can have a piece of real estate and not have the hassle of having to managing it yourself.
7. Invest in Your Future
If you want to truly become wealthy, you need to have some sort of investment strategy. For instance, if you put away only $400 per month for 40 years at 10% interest, you would have over $1.2 Million.
If you want to truly become wealthy, you need to have some sort of investment strategy. There are a lot of great investment companies out there, but one worth considering is Ally Invest because trades are as low as $3.95.
This is awesome because most brokers charge around $10 per stock trade.
Have a 401k?
Check out Blooom which will give you a free analysis of your investments. They will help you discover and reduce fees so you can keep more of your hard earned dollars. They do have a netflix like subscription of $10 per month, but right now you can get a free trial for a month to try it out.
What money moves are you taking to increase your wealth this year? Please share in the comments below.