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The lives of wealthy people are a lot easier and hastle free atleast in a financial point of view. The key to get wealthy if you have started from scratch is not to work hard but to work smart. Wealthy people work smartly and save up on things which average or middle classed people would not even think of. So, there are plenty of things we can learn from the richer class and adopt to some of the ways they save their money .
lets get on with those and see how many of those we can adopt –
1.They grow their money 10times Faster without even risking it –
Keeping your money in a safe as you earn it or putting it in a savings account with a hope that the interest earned from that will multiply it will take you no where as a savings account offers you minimal interest rates per annum.
what you can rather do is sign up with some credit card companies(say Aspiration) which will earn you upto 5% cash back and upto 10-11 times the average interest on the money in your account also you will not need to pay any account maintenance fees.
2.They spend few bucks to Own a piece of renouned companies –
If you give a look on the forbes Richest people list, you will find one thing common among all of them – they own a piece of another company.
This may sound out of reach to people who work for a living and do not have millions of dollars to invest on company shares so, what they can do is use the online websites or apps available which lets you to own a piece of company for as less as $1 . And the best part is that when the companies earn rofits, they send check to the share holders even quarterly for their share of the profits known as dividends.
It would take you a mere 5 minutes or less to open an account and put few bucks in there to start investing.
3.They keep themselves free from credit card debts –
The anxiety,the interest rates and the fear of never escaping it puts a lot of people in stress if they have a credit card debt. The credit card companies even do not care what you will go through but their main concern is to make higher incomes by ripping your wallet with high interest rates.
But there are escapes to this. There are some new online credit giving companies which take in note of your issues and wants to help you .
The way they work is , if you owe your credit card companies $50,000 or less, they will match you with a low interest loan which you can use to pay every single one of your balances and what you will be left with is one bill to pay each month. And as the personal loans have lower interest rates,you can get out of your debt faster.
- They grab every opportunity to get upto $500 in free stocks-
Yes,investments in the stock market is a roller coaster ride as the stock prices keep on shooting up and down and it is unpredictable.
what you should do is search for businesses which offer free shares of companies . Both beginner and pro investors love those as you can start investing with just $1 and you will nt have to pay any added commission fees. You can buy and sell stocks for free without limits.
- They make minimal or no spending on car insurance –
Spending on car insurance is one of the many unnecessary spendings you are making. May or may not you are using your car frequently,one certain thing is that you are overpaying your car insurance.
Shop for cheaper car insurance (provide the link for “what to look for while buying a car insurance blog) and you will be good to go . Using online websites which do the job for finding perfect plan for you can also alert you if there is any way to reduce the monthly bill even further . All you need to do is sign up to any of those and sit and watch the tough job of yours’ getting dont by others.