4 things to spend money on that actually make you richer


    Saving money is great, but it doesn’t make you rich.

    No matter how many dollars you put into a savings account, the nationwide average 0.05% interest you would earn won’t accelerate your millionaire status.

    And cutting your costs can only go so far, explains certified financial planner Robin Hartill (who is also editor and columnist on financial advice here at The Penny Hoarder).

    It can definitely help with your short-term goals, she says, but if you really want to get richer, there are times when you have to spend money to make money. By diverting some of your money into these assets, you will get to your financial goals faster.

    1. Spend $ 1 to own a piece from Amazon, Google, or other companies

    Investing is a smart way to make you richer. “Spending money by investing in the stock market and generating returns can add up to even more money,” says Hartill.

    As the stock market goes up and down over days, weeks, and months, returns tend to rise over time.

    If you haven’t started investing yet and have some cash to spare, you can start small and then build. In fact, you can get started with just $ 100 with an app called M1 Finance.

    We like M1 Finance because you can choose from hundreds of stocks and funds to build your own investment portfolio. But it makes it easy by dividing them into categories based on your personal goals. Would you like to invest conservatively now? Totally understand! Do you want to dive with medium or aggressive risk? Do what you feel

    Plus, M1 Finance lets you invest in fractions of stocks, which means you can invest in funds that you normally couldn’t afford.

    Registration takes two minutes and is completely secure.

    Using the link above, M1 Finance will give you a $ 30 sign up bonus once you deposit $ 1,000 into your account.

    2. Spend $ 10 to buy an apartment building

    Check out some of the richest people in the world. What do they have in common? Many invest in large private real estate deals. And here’s the thing: there’s no reason you can’t too – for only $ 10.

    A company called Fundrise enables you to enter the world of real estate by giving you access to an affordable, diversified portfolio of private real estate. The best part? You don’t have to be a landlord. Fundrise does all the heavy lifting.

    Fundrise’s starter portfolio has a minimum of just $ 10 and is aimed at first-time real estate investors. Your money will be invested in the company’s flagship fund, which already owns more than $ 250 million in real estate across the country, from apartment complexes to the red-hot apartment rental market to larger last mile e-commerce logistics centers.

    When the tenants pay their rent, you can make money from quarterly dividend payments and, over time, make money from the potential appreciation of the property. Since 2014, Fundrise investors have earned around $ 100 million in dividends alone.

    So if you want to get into the world of real estate investing, it only takes a few minutes to log into Fundrise and create an account.

    3. Use this secret debit card

    Here’s the deal: if you’re not using Aspiration’s debit card, you’re missing out on extra cash.

    Yes. A debit card called Aspiration gives you up to 10% back every time you swipe and you get up to 100 times the normal interest rate on your balance.

    Do you need to buy groceries? Get some extra cash.

    Do you need to fill up the tank? Bam. Even more extra money.

    There used to be a huge waiting list for this card, but now you can sign up for free.

    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 is subject to military encryption. This is nerd talk for “that’s perfectly safe”.

    4. Give your family $ 1 million

    This is one of those occasions that later it can pay off to spend a little bit of money each month.

    Have you ever thought about how your family would do without your income in your absence? How would they pay the bills? Send the kids through school? Now is a good time to start planning for the future with term life insurance.

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

    Some policies start at less than $ 20 a month. * Knowing that your family is being cared for is priceless.

    Policygenius offers life insurance policies that do without the usual medical exam so you don’t even have to get up from the couch. For a free quote from Policygenius, click here.

    * For a $ 500,000 policy, subject to eligibility.

    Kari Faber is a writer for The Penny Hoarder.

    1Not all stocks pay dividends, and there is no guarantee that dividends will be paid every year.

    2It should be noted that the SIPC cover does not insure any potential loss of market value.

    For securities priced above $ 1,000, fractional share purchases start at $ 0.05.

    * Offer subject to promotion Terms and Conditions. To be eligible to participate in this promotion and receive the bonus, you must successfully open an individual broker account in good standing, link a funding account to your Invest account AND deposit $ 5.00 into your Invest account.

    The Penny Hoarder is a paid affiliate / affiliate of Stash.

    Investment advisory services from Stash Investments LLC, an SEC registered investment advisor. This material is distributed for informational and educational purposes only and is not intended as investment, legal, accounting, or tax advice. Investing involves risks.


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