In the 1950s, CEOs earned around 20 times more than their average employees. Seems fair considering her title doesn’t it? For sure.
According to Bloomberg studies, the typical Fortune 1000 CEO today makes 144 times more than the average worker. But wait, it gets worse: At The Coca-Cola Company, CEO James Quincey makes an insulting high 1,621 times more.
The system is rigged, man. And in the last year it has become much clearer. The rich get richer and many of us are just trying to make ends meet.
You can ask for a raise or try your lottery odds, but neither is guaranteed to land in your favor. So how can you get your piece of the cake too? Here are some surefire ways you can stick it to The Man.
1. Say goodbye to your big stationary bank
Not that this would surprise you, but the place you trust to keep your money safe and growing gets rich by cheating on you.
First, they charge all these crazy fees. Then they’ll make loads of interest on your money – but only give you 0.05% (on average). Peanuts for the poor. Billions for the bank.
So if you’re tired of getting ripped off, find an account that won’t charge you ridiculous fees and earn you a lot more interest on your savings – it’s your money, after all.
With a debit card called Aspiration, you can earn up to 5% cashback and up to 16 times the average interest on the money in your account every time you swipe the card. Plus, you never pay a monthly account management fee.
To see how much you could make, enter your email address here, link your bank account, and add at least $ 10 to your 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”.
2. Stop paying your credit card company
How much do you think the billionaire CEO of JPMorgan Chase makes? They don’t even want to know.
Better to just stop giving more of your money to your credit card company. They keep getting richer by ripping you off with high interest rates – some up to 36%. But a website called AmOne wants to help.
If you owe your credit card company $ 50,000 or less, AmOne will provide you with a low-interest loan that you can use to pay off every single one of your balances.
The advantage? You have to pay an invoice every month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you get debt relief The much faster. Plus: No credit card payment this month.
AmOne keeps your information confidential and secure, which is probably why it still has an A + rating with the Better Business Bureau after 20 years in business.
It takes two minutes to see if you qualify for up to $ 50,000 online. You need to give AmOne a real phone number to qualify, but don’t worry – they won’t spam you with phone calls.
3. Stop paying for free services
Here’s a trick the richie riches of the world love: putting a fancy marketing term on a free service and charging you for it. The nerve of these people, seriously.
Here’s one that is really going to piss you off – most people don’t need to pay for a credit monitoring service. But maybe you are because you know the importance of having good credit before buying a car, getting a mortgage, or even starting a business.
But if you want to get your creditworthiness back on track – or even if it’s on the right track and you want to improve it – stop paying someone to watch it for you. You can get the same help from a free website like Credit Sesame.
Within two minutes, you’ll have access to your credit history, all debtor accounts, and a handful of personalized tips for improving your score. You can even spot bugs that are holding you back (every fifth report has one).
Atlanta-based James Cooper used Credit Sesame to add nearly 300 points to his credit score in six months. * “They showed me the ins and outs – how to dot the I and cross the T,” he said.
Getting your free credit score will take less than two minutes.
4. Cancel your auto insurance
How would you feel if you found out that your auto insurance company overcharged you $ 500 each year?
Pretty pissed off, we’re sure of that. It’s just another cog in the machine working hard to rip you off.
So give her a call. Get rid of these thieves! But make sure you have better and cheaper insurance.
A website called Insure.com makes it super easy to compare car insurance prices. All you have to do is enter your zip code and age and your options will be displayed. Make sure you do this every six months so you can be sure that you are getting the best price.
With Insure.com, people saved an average of $ 489 a year.
Yup. That could be $ 500 in your pocket just to take a few minutes to consider your options.
5. Fight the billion dollar hedge fund managers
Do you think those soaring billionaires on the top floor are just sitting nicely on their money? No way – they invest and do it even more Millions.
It doesn’t seem fair that they have their own hedge fund managers who make them richer every day. The system was not set up to make life easy for us worker bees.
But with an app called Stash, you can take on these expensive brokers. You can become part of something that is normally only reserved for the richest of the rich – on Stash, you can buy parts of other companies for as little as $ 1.
That’s right – you can invest in chunks of popular companies like Amazon, Google, Apple, and more for as little as $ 1. The best part? If these companies benefit, so can you. Some companies will even send you a quarterly check for your share of the profits called dividends
Registration takes two minutes and is completely secure. At Stash, all of your investments are protected by the Securities Investor Protection Corporation (SIPC) – this is the industry talk for “your money is safe” .2
If you use the link above, Stash will give you a $ 5 sign up bonus once you deposit $ 5 into your account. *
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 brokerage 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.
* Like Cooper, 60% of Credit Sesame members see an increase in their credit score; 50% see an increase of at least 10 points and 20% an increase of at least 50 points after 180 days.
Credit Sesame does not guarantee any of these results, and some may even experience a decrease in their credit score. Any improvement in the score is the result of many factors including paying bills on time, keeping funds on hold, avoiding unnecessary inquiries, proper financial planning, and developing better credit habits.