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 to increase your wealth:
1. 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 6,000,000 members, and this company is cool because they will pay you instantly with cash via Paypal.
Swagbucks will pay you for doing every day tasks like searching the internet and shopping online. They have a Trustpilot rating of 8.3 and have paid out over $279,000,000 to its members.
2. 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, Bestow makes the process simple with life insurance plans for as short as two-year terms – and as long as 20-year terms.
Plus you may not need a medical exam to get your insurance policy with Bestow.
Just fill out your application online and get a quote in minutes.
3. Stop Paying Hidden Investment Fees
Tired of losing money from your investments because of high fees? Blooom is here to change that. Do you have a 401k?
Blooom helps assess your 401k fees, your stock/bond mix, and the opportunity cost associated with your investments. Opportunity cost is how much you could be missing out on by not investing more, or by investing too conservatively.
They claim to help their clients cut their hidden investment fees by 66%.
4. Make Money Scanning Receipts
An easy way to make a little extra money for things you do every day is by using an app like ReceiptPal.
ReceiptPal helps you earn money by scanning receipts for stuff you have to buy anyway. Unlike some other grocery scanning apps, you can earn points for every single receipt you upload.
And they have some very unique locations available for shoppers to scan receipts from, unlike many receipt scanning apps that only accept grocery receipts.
ReceiptPal accepts receipts from:
- Convenience stores
- Car dealerships
- Gas stations
- Clothing stores
- Travel and recreation
After submitting four receipts, you earn 100 points. You can earn up to 300 points (12 receipts) each week. When you are ready to redeem your rewards points, you can receive a cash payment or gift cards.
5. Deliver Food and Get Paid
Gone are the days of needing to wear a greasy pizza uniform to be a food delivery driver. Now you can deliver for a variety of restaurants using DoorDash.
DoorDash partners with a variety of restaurants in most cities to bring over 10 million orders to hungry customers!
All you need to get started is a reliable vehicle, moped or good walking shoes, along with a smartphone, the DoorDash app, plus a valid drivers license and insurance.
6. Make Money By Renting Out Your House or Apartment
If you have an extra room in your home, consider using Airbnb to rent it out. Whether you list a room, your basement or your entire place, Airbnb is such an easy way to make extra income.
Airbnb recommends a price for you to list your space, so you can stay competitive with other listings in your area.
All you need to do is take clear photos of the space (clear out clutter!), and write a description that explains amenities and what you have to offer.
It’s also helpful to include how close you are to the airport, public transportation and what your neighborhood is like. The more detailed, the better.
7. 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 get started with real estate investing for just $500.
Fundrise is a crowdfunded real estate investing company. They will use your money (and money from others) to purchase and manage large-scale rental properties and give you a cut of the profits.
What money moves are you taking to increase your wealth this year? Please share in the comments below.