Categories
Saving Money



4 Steps Every 26-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 29-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 30-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 31-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 32-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 33-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 34-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

money management steps policygenius
Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

image_2

If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

 
   
Categories
Saving Money



4 Steps Every 28-Year Old Should Take Once They’ve Saved Their First $500

You’ve done it. You’ve built up a little cushion in your bank account — $500! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Invest in Real Estate (Even if You’re Not a Millionaire)

The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?

It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?

Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.

Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.

So you don’t need a fortune to invest in real estate. All you need to get started is $500.

2. Secure Up to $1 Million in Life Insurance (Costs as Little as $8/Month)

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Johnny Greig/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now’s a good time to start planning for the future by looking into a term life insurance policy. You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

3. Get up to $500 in Free Stock

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If you feel like you don’t have enough money to start investing, you’re not alone.

But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

4. Add $100 to Your Wallet

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

How’s an extra $100 sound? For free? Seriously. We could all use that right now and we found a company that will give you $100 just for opening a new debit card. It’s called the Aspiration Spend and Save account.

Even better? Your account comes with a debit card that gets you up to 10% cash back on your debit purchases, plus you’ll earn up to 16 times the average interest on the money you set aside to save. (The FDIC reports the average account earns just .06%.)

Just open and fund your account with at least $10 by May 31, 2020, and use your Aspiration debit card to make at least $1,000 of cumulative transactions by July 30, 2020. There’s no need to spend extra money — just use your card to buy groceries and pay your utilities.

It takes just five minutes to sign up and earn your bonus

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This Woman Saved $85,000 Before She Turned 19. Here’s Exactly How She Did It

Many Americans aren’t good at saving money.

This information isn’t new. 

Let me give you a refresher: 33% of Americans have nothing tucked into their savings accounts, according to a 2016 GoBankingRates survey. And 35% of Americans have less than $1,000 saved.

So we’re taking notes from this 19-year-old NewRetirement.com recently wrote about. Robyn Bri has saved more than $85,000 to date.

Granted, Bri has lived at home, but she’s also hustled hard since she was 8 years old.

“The first time I bought something with my own money, it immediately had more value to me because it was something I had to work to get, so I took better care of it,” she told me in a recent email exchange. “I think that’s what motivated me to start getting jobs and saving my money for certain things.”

Here’s how to save money like Bri.

1. Open a Virtual Piggy Bank

Bri says she keeps her money in a savings account and tries to stash money in it as frequently as possible.

I asked about her strategy for determining how much goes away and when. She says she plans to automate the process one day, but for now she just does it by hand.

“I usually will tell myself, ‘Okay, you just made this much money. You have to put at least this much in savings, then budget the rest into checking and into my spending budget,’” she says.

She keeps her money for everyday expenses in a checking account.

Here’s how you can save: If you want to help your savings grow faster, look into an Aspiration account. Promise yourself to transfer just a few bucks each week and your money will earn a 1.00% Annual Percentage Yield. That’s more than 100 times — repeat, 100 times — the average savings account, based on a 0.01% average reported by Bankrate.

You’ll pay no monthly service fees, no minimum balance fees, and no foreign transaction fees. Plus, by separating the money from your checking account, you’ll be much less likely to make a withdraw.

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 under a military-grade encryption. That’s nerd talk for “this is totally safe.”

The goal is to make your money work for you, which Bri has already learned by 19

2. Buy a Piece of Amazon or Google

Bri says she has two self-investing accounts with Merrill Edge.

One is a Roth IRA, and the other is a self-guided account. She also invested in Apple stock when she was 16.

However, she admits she’s always been a little hesitant about the process. “…It’s a risky business, and the more you put in the more you can lose, but at the same time the more you can gain,” she says.

She advises people to research. She also suggests taking online quizzes to see how much risk is worth taking.

“I always make sure that I never invest all my money,” she concludes on the matter.

Here’s what to do: Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company. 

But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.

That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.

That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1.

It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit at least $5 into your investment account.

3. Tackle the Art of the Side Hustle

At age 8, Bri started doing odd jobs for her neighbors. 

Since then, she’s worked as a pet sitter, babysitter, housesitter and waitress. Bri estimates she works 28 to 32 hours a week and earns something between $3,000 and $4,000 each month, according to SFGATE.

I asked her how she manages to stay on top of her priorities. (In addition to her side gigs, she was also a successful student and volunteered.)

She says, “For me, I really had to stay organized and on top of my phone calls, emails, texts, etc. Writing everything down and using a calendar to stay organized was definitely crucial. With so many different things going on, if I don’t write one thing down I could screw up a whole day.”

Here’s how you can save: We write about a ton of side gigs on The Penny Hoarder, but we recently chatted with Ben Robinson, a certified public accountant, who told us that you could earn up to $60 an hour as a part-time bookkeeper.

Robinson says you don’t need to be an accountant or even really good at math to be successful in this business. In fact, all you need are decent computer skills and a passion for helping business owners tackle real-world problems.

The ability to stay moderately organized is helpful too.

Median pay is around $19 per hour, according to the Bureau of Labor Statistics— and you have no commute.  It’s a great opportunity for parents who want a part time job, recent college grads and anyone who wants to bring in real money working from home.

Robinson shares what it takes to be a virtual bookkeeper, plus tips for making this career work for you in his free class at Bookkeeper Business Launch.

4. Stop Wasting Money On This

NewRetirement also reports that Bri doesn’t blow her money on clothes or entertainment expenses.

“Mostly I just tell myself, ‘I don’t need that; it’s not a necessity — you can live without it,’” she says. “But I do allow myself to have a small budget once a month for things like transportation, going to the city for a day, etc.”

She’s sure to calculate necessities into her budget, too, like her phone bill and gas.

Here’s how you can save: We already know that skipping our daily latte could save a fortune, but did you know that you could save a ton by changing how your car insurance works?

Fortunately, a service called Gabi will do it for you, and you don’t even have to fill out any forms. Simply link your insurance account and provide your driver’s license number, and Gabi will go to work.

Once you link your insurance account to Gabi, it will:

  • Scan your existing insurance plan.
  • Analyze what coverage you have.
  • Compare the major insurers’ rates for that same coverage.
  • Help you switch on the spot if it finds you a better rate.

Gabi says it finds an average savings of $720 per year for its customers. Not too shabby.

5. Consume Tons of Personal Finance Advice

How did Bri know about all of these smart money moves? She said she read a ton of advice in books and on blogs (like The Penny Hoarder, right?).

But actually she says her all-time favorite book is “Rich Bitch.” “It’s an easy read, and the best part is it’s interactive, so as you read you are advised to write stuff down, start planning/getting your finances on track.”

Here’s how you can save: You can never know everything.

On personal finance matters, we have taken notes from some of our favorite “zillionaires” as well as these books and these podcasts.

Cheers to Bri, who’s headed off to George Washington University this fall on a full-ride scholarship. She has an on-campus job lined up and plans to find another gig along the way.