7 Simple Money Moves That You Can Make Today
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Want some practical ideas on improving your financial situation this year? Well, here are seven things you can do to improve your finances; most of these you can start in under 5 minutes.
1. Invest in Real Estate (Affordably)
Owning and renting out real estate can be a great way to make money. However, purchasing a home can be costly since you usually need about 20% down plus closing costs to buy a rental home.
But with Fundrise, you can start investing in real estate for just $10.
It uses your money (and money from others) to purchase real estate properties and gives you a cut of the profits.
Note: We will get a commission if you sign up through this endorsement of Fundrise. However, we only promote brands we believe are a good fit for our readers. All opinions are our own
2. Make More Money Today
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 of ways that you can do that starting today:
Survey Junkie will pay you for taking surveys in your spare time. They have over 20,000,000 members, and this company is cool because they will pay you instantly with cash via PayPal.
Swagbucks will pay you for everyday tasks like searching the internet and shopping online.
They have a Trustpilot rating of 4.2/5 and have paid out over $574,000,000 to its members.
3. Teach Your Kids About Money
Do you have kids? Do you want them to be good with money? There are several apps out there that can help you do this. One that I really like is called Greenlight. It is not only an app, but it comes with a physical debit card.
It has a 4.8 out of 5 rating in the App Store and has helped families save over $198 million!
You can Send money instantly, manage chores and allowances, approve investments, and more.
Sign up for a one month trial today!
4. Get Life Insurance
Protecting your loved ones with life insurance is a smart money move that most people should consider.
Unfortunately, signing up for life insurance can seem like a hassle because no two companies are exactly alike. There are different rules and rates for every policy and company, which can make life insurance seem confusing.
Luckily, Policy Genius makes the process simple as it will give you quotes from several providers so that you can get the best price.
5. Invest in Real Estate Bonds
Real estate bonds can provide a higher yield than traditional bond investments. Bond index funds invest in large corporations and government bonds.
Worthy Bonds lets you invest small amounts of money and earn 7% per year with a minimum $10 investment. These loans are collateral-backed; however, there is risk.
The additional risk is why this investing option yields higher than traditional bonds.
6. Make More Interest on Your Savings
Want to make more money on your savings? Online banks offer a much higher rate than traditional banks. This is because they don’t have all the overhead of a regular bank.
For instance, right now CIT Bank is paying 4.00% on its Savings Connect account, which is 10X the national average.
The best part is that it is a $100 minimum to open.
7. Use A Free Budgeting app
Want an easy way to stay on track with your finances? Use a free budgeting app like Empower, where you can see all your accounts in one place.
With so many different ways to budget, I have found that using this app saves me so much time because it automatically categorizes every transaction.
It is also great because it shows me my net worth in real time when I open the app. Not only that, it has free investment tools that I use to make sure we are on track for our investing and retirement goals.
If you want to make 2024 your best financial year ever, download Empower today.
