5 Strange Things Millionaires Do With Their Money, But Most of Us Have Never Tried (2024)

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Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)

But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht.

These are simple money moves any normal, non-millionaire person can maketoday. Each tip can get you closer to achieving your big goals.

Take a look:

1. Cancel Your Car Insurance

Here’s the thing: your current car insurance company is probably overcharging you. But don’t waste your time hopping around to different insurance companies looking for a better deal.

Use a website called EverQuote to see all your options at once.

7 Ways to Make Money if You Hate People

Do you avoid people too? In the past, there was almost no way around working with people if you wanted to earn a living, but things have changed.

Our team has compiled a list of creative ways you can fatten your bank account this month, without having to put up with people.

Enough small talk. Here are some ways to earn extra cash, without all of the social stuff.

EverQuote is the largest online marketplace for insurance in the US, so you’ll get the top options from more than 175 different carriers handed right to you.

Take a couple of minutes to answer some questions about yourself and your driving record. With this information, EverQuote will be able to give you the top recommendations for car insurance. In just a few minutes, you could save up to $610 a year.

2.Own a Piece of Amazon or Netflix — Even if You’re Not Rich

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.

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Get Paid Up to $140/Month Just for Sharing Your Honest Opinion

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

That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Netflix, even if you’re not rich. The best part? Some companies even pay you every quarter for your share of the profits, called dividends.

It takes just minutes to download the app, and when you finish setting up your account, Public even will give you a $10 sign-up bonus.

*Valid for U.S. residents 18+ and subject to account approval. See Public.com/disclosures/.

3. Stop Paying Your Credit Card Company

If you have credit card debt,you know. The anxiety, the interest rates, the fear you’re never going to escape…

Your credit card is getting rich by ripping you off with insane rates, but a company calledAmOnecould help you pay them off tomorrow.

Here’s how it works: AmOne will match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster.Plus, no credit card payment this month.

AmOne won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free tocheck online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.

4.Add $225 to Your Wallet Just for Watching the News

It’s been a historic year in news, and we’re all constantly refreshing for the latest updates. You probably know more than one news-junkie who fancies themselves an expert in respiratory illness or a political mastermind.

And research companies want to pay you to keep watching. You could add up to $225 a month to your pocket by signing up for a free account with InboxDollars. They’ll present you with short news clips to choose from every day, then ask you a few questions about them.

You just have to answer honestly, and InboxDollars will continue to pay you every month. This might sound too good to be true, but it’s already paid its users more than $56 million.

It takes about one minute to sign up, and start getting paid to watch the news.

5. Add up to 300 Points to Your Credit Score

When it comes to your credit score, it’s important to stay organized and keep tabs on it. After all, it’ll play an essential role in any big purchase you want to make — whether that’s a home or a car.

So if you’re looking to get your credit score back on track — or even if it is on track and you want to bump it up — try using a free website called Credit Sesame.

Within 90 seconds, you’ll get access to your credit score, any debt-carrying accounts and a handful of personalized tips to improve your score. You’ll even be able to spot any errors holding you back (one in five reports have one).

James Cooper, of Atlanta, used Credit Sesame to raise his credit score nearly 300 points in six months.* “They showed me the ins and outs — how to dot the I’s and cross the T’s,” he said.

Want to check for yourself? It’s free and only takes about 90 seconds to sign up.

*Financial investment involves the risk of loss

The 5 Dumbest Things We Keep Spending Too Much Money On

You've done what you can to cut back your spending.You brew coffee at home, you don’t walk into Target and you refuse to order avocado toast. (Can you sense my millennial sarcasm there?)

You brew coffee at home, you don’t walk into Target and you refuse to order avocado toast. But no matter how cognizant you are of your spending habits, you’re still stuck with those inescapable monthly bills.

You know which ones we’re talking about: rent, utilities, cell phone bill, insurance, groceries…

Ready to stop paying them? Follow these moves…

Ready to stop worrying about money?

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5 Strange Things Millionaires Do With Their Money, But Most of Us Have Never Tried (2024)

FAQs

What are the three things millionaires do not do? ›

Millionaires prioritize avoiding consumer debt, making wise financial decisions, and aligning spending with long-term goals.

What do millionaires do? ›

Invest Wisely: Millionaires typically prioritize long-term investing over short-term spending. They focus on building wealth through investments in stocks, bonds and real estate.

How do rich people spend their money? ›

The wealthy invest in retirement consistently, and they also invest in education. They take care of their health and, more often than not, pay their healthcare bills without incurring medical debt. They also tend to purchase high-quality products and food.

Which is bigger a billionaire or a millionaire? ›

Billionaires are wealthier than millionaires and worth less than trillionaires. A deca-billionaire has more than $10 billion, while a centi-billionaire has more than $100 billion in net wealth.

What creates 90% of millionaires? ›

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

What is the millionaires secret? ›

Millionaire's secret #1: Spend modestly.

Millionaires don't always look like millionaires. That's because they spend their money modestly instead of pretentiously.

What is a silent millionaire? ›

The people who have all the money often go by unnoticed, dressing well, but without flash, driving used cars and living in the first house they bought in a modest neighbourhood. The authors called them the quiet millionaires. They often work in, or own, unglamourous businesses that spin off steady streams of cash.

What is the most common job of a millionaire? ›

Dave Ramsey on X: "Top 5 Careers of Millionaires: 1. Engineer 2. Accountant (CPA) 3. Teacher 4.

How do you spot a millionaire? ›

Here are eight subtle ways you can tell that someone is a millionaire.
  1. They Value Their Time. ...
  2. They Don't Talk About Money. ...
  3. Their Things Are Customized. ...
  4. They Own Multiple Properties. ...
  5. They Have an Expensive Hobby. ...
  6. They Are Well-Traveled. ...
  7. They Can Speak Multiple Languages. ...
  8. The Keep a Close Circle.
Aug 11, 2023

What kind of car do millionaires drive? ›

While some wealthy Americans drive luxury vehicles, an Experian Automotive study found that a whopping 61% of wealthy people with household incomes of more than $250,000 don't drive luxury brands. Instead, they drive less showy cars, such as Hondas, Toyotas and Fords, Ramsey said in an article.

How can you spot a wealthy person? ›

  1. Minimalist Homes: Where Less Is More. ...
  2. Low Profile Luxury Cars: Driving Discretion. ...
  3. High-quality Wardrobes with Minimal Brand Identification: Style with Substance. ...
  4. Real Generational Wealth: Steadfast Stability. ...
  5. Subtle Signs of Real Estate Investment: Property Portfolio. ...
  6. Pearliness of Their Whites: A Smile of Affluence.
Dec 14, 2023

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

Are there any trillionaires? ›

As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world's richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.

What is the difference between a millionaire and a rich person? ›

Is a millionaire wealthy? Whether a millionaire is wealthy depends on how much money they have and how they use it. Someone who has a million-dollar net worth but spends much of what they earn buying things might be rich but not wealthy, compared to someone who has a $100 million net worth and no debt.

How much money do you need to be considered a millionaire? ›

A millionaire is somebody with a net worth of at least $1 million. It's a simple math formula based on your net worth. When what you own (your assets) minus what you owe (your liabilities) equals more than a million dollars, you're a millionaire.

What are the 4 habits of millionaires? ›

I have many wealthy financial planning clients, and they all share four habits. They keep a long-term view of their finances, and they don't worry about market fluctuations. They also make a plan and stick to it, and invest automatically in good times and bad.

What are the big four habits of millionaires foolproof? ›

Here are a few habits self-made millionaires tend to uphold.
  • They don't upsize their lifestyles when their income increases. ...
  • They're mindful of their spending. ...
  • They focus on long-term investments. ...
  • They believe in hard work.
Jan 28, 2024

How do most millionaires go broke? ›

Rich people who don't create a financial plan often set themselves up for failure. They not only fail to properly track and manage their income and expenses — they also fail to prepare for unexpected events that can drain their money in a hurry.

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