Try These 5 Money Tips That Any Smart Person Can Apply
You consider yourself a reasonably intelligent person, don’t you? However, in today’s fast-paced, digital spending age, even the sharpest minds can sometimes lose their financial balance. Moments like these underscore the value of tried-and-true financial approaches, which are now more accessible than ever, thanks to modern technology.
1. No Offense, But You’re Probably Overpaying on Amazon
Live within your means: It’s tempting to upgrade our lifestyles as our incomes grow, but true financial freedom comes from spending less than we earn.
Wouldn’t it be nice if you got an alert when you’re shopping online at Amazon and are about to overpay?
That’s exactly what this free service does.
Just add it to your browser for free, and before you check out, it’ll check other websites to see if your item is available for cheaper. Let’s say you’re shopping for a new smart vacuum, and you assume you’ve found the best price. Here’s when you’ll get a pop up letting you know if that exact vacuum is available elsewhere for cheaper. If there are any available coupon codes, they’ll also automatically be applied to your order.
In the last year, this has saved people $800 million.
You can get started in just a few clicks to see if you’re overpaying online.
2. This AI Investing App Can Help You Grow Your Savings, Responsibly
Grow your money: Albert Einstein once called compound interest the eighth wonder of the world, and for good reason. It’s the process where your money earns interest, and then that interest earns interest.
AI is everywhere these days. Some of it is pure fun; some of it’s concerning. But this AI tech is the first one that can actually help you invest.
A company called Magnifi has packaged a financial advisor into a friendly AI chatbot. It’s essentially the ChatGPT of investing apps. It can hold your hand if you’re new to investing or help up your game if you’ve been investing for years.
Magnifi guides new investors to build personalized plans, learn as they go and buy investments that are optimized for your goals.
Ask it how you can invest $100. $500. $5000. Ask it what you should do to diversify or how to retire early. Ask what a stock is. Ask it whatever, whenever — it won’t judge you for “dumb” questions or charge you a commission. It will just help you invest and grow your money wisely.
See for yourself. You can try Magnifi for free and start putting your money to work investing today.
3. Get Up to $300 Just for Setting Up Direct Deposit With This Account
Save for emergencies: Unexpected expenses, be it medical emergencies or sudden car repairs, can derail your finances.
If you bank at a traditional brick-and-mortar bank, your money probably isn’t growing much (c’mon, 0.40% is basically nothing).1
But there’s good news: With SoFi Checking and Savings (member FDIC), you stand to gain up to a hefty 4.20% APY on savings when you set up a direct deposit or have $5,000 or more in Qualifying Deposits and 0.50% APY on checking balances2 — savings APY is 10 times more than the national average.1
Right now, a direct deposit of at least $1K not only sets you up for higher returns but also brings you closer to earning up to a $300 welcome bonus (terms apply).3
You can easily deposit checks via your phone’s camera, transfer funds, and get customer service via chat or phone call. There are no account fees, no monthly fees and no overdraft fees.* And your money is FDIC insured (up to $2M of additional FDIC insurance through the SoFi Insured Deposit Program).4
It’s quick and easy to open an account with SoFi Checking and Savings (member FDIC) and watch your money grow faster than ever.
4. See if You Can Cut Your Credit Card Interest Rate by 70%
Avoid bad debt: Not all debt is created equal. While some debt, like mortgages or student loans, can be considered “good” as they may increase in value or generate income, others, like credit card debt, can be harmful.
Every month, you make payments toward your credit card debt. But you never seem to make a dent. It’s because of those sky-high interest rates — as much as 24% interest. It can feel impossible to get ahead.
But MoneyLion could help you find offers to cut your interest rate by 70% as soon as tomorrow.
Here’s how it works: MoneyLion can match you with new loan offers at a lower interest rate — as low as 5.20% APR*. That’s 70%* lower than the average credit card interest rate. And it’s the key to finally getting ahead.
You can use this new loan to pay off all your existing credit card debt, leaving you with one (cheaper) monthly payment that will help you get out of debt faster.
If you have a credit score of at least 620, you could get up to $100,000. With no collateral. And terms go up to 144 months.
Worried you won’t qualify? Take two minutes to check online and see if you could cut your credit card interest rate by 70%.
*Based on creditworthiness. Average credit card interest rate is 24.72% as of 8/14/24, according to Forbes Advisor’s weekly credit card rates report.
5. Earn up to $69/Hour Working From Home
Stay current: The financial landscape is always evolving, and what worked a decade ago might not be the best strategy today. Stay informed. Read financial news, books, or blogs. And consider learning a new money-making skill.
We get it. There are kids to drop off at school, errands to run and dinner to cook, so the idea of getting a full-time job without any flexibility just doesn’t work for a lot of people.
Truth be told, life would be a lot easier if you could just make money without leaving the house. But that’s not something most employers offer. But have you considered bookkeeping? It’s the No. 1 most profitable business, according to an article in Inc Magazine.
And you could earn up to $69 an hour by starting your own bookkeeping business, according to Intuit, the creator of QuickBooks.
You don’t have to be an accountant or good at calculus to be successful at bookkeeping. As long as you’re motivated, a company called Bookkeepers.com will teach you everything you need to know. It’s one of the leading training courses in the field, and it even gives you the first three classes for free.
It’s helped thousands of people launch their own businesses, including Daniel Honan, a military veteran and former painter. He never considered starting his own company, but he signed up for Bookkeepers.com, and now he’s making $50,000 a year.
It only took him three months to get started, taking one class a week. Oh, and he makes his own schedule, earns up to $69 an hour and is able to spend more time with his wife than ever.If you’re just a little curious, you just have to submit your email address here to take the first free class. If you stick with it, you could be running your own business in just a few months.
The Bottom Line
While there’s no one-size-fits-all approach to money management, these foundational principles offer a roadmap for anyone looking to navigate the financial maze. By adopting these practices, you’ll be well on your way to building a stable and prosperous financial future.
* SoFi® Checking and Savings (member FDIC):
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.20% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
3. Fee Policy
Our account fee policy is subject to change at any time.
4. Additional FDIC Insurance (must be bolded)
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms. See the list of participating banks at SoFi.com/banking/fdic/receivingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled
payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting e(i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
