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100 Money Hacks That Will Make You A Millionaire

So you want to become a millionaire? Welcome to the club. Working towards that goal won’t be easy and it will require hard work, but it is achievable. Understanding financial literacy, controlling your spending, and increasing your savings are all part of the journey

Yet the most crucial step toward achieving millionaire status is deciding unconditionally to make the most of the opportunities that come your way. You are wherever you happen to be at this moment in your life. But to get from where you are to the place you want to be, you need to find and follow a path (you won’t just magically materialize in a millionaire’s mansion). 

To get on and follow that path, you need an attitude of mind that’s committed to energetic action and doing whatever it takes to achieve your professional and financial goals. Even if that means going back to school or gaining a new skill set, you’ll need to do it.

To cross that seven-figure threshold, start utilizing these money hacks. Most of the hacks include a link that explores the underlying idea in more depth. By combining the strategies that work best for you, you’ll be on your way to meeting your financial goals.

1. Spend less than you earn.

2. Invest your savings.

3. Borrow good debt.

4. Create an emergency fund to cover unexpected expenses.

5. Spend money on experiences, not things.

6. Have a side business.

7. Be frugal

8. Work to eliminate debt

9. Meet with a financial planner. There are even Pro Bono Financial Planners available.

10. Live below your means. Don’t give in to societal pressure to keep upgrading.

11. Cut costs by couponing.

12. Put your savings on auto-pilot using apps like Mint.

13. Skip the trip to the mall and hit the thrift store instead.

14. Set and stick to financial goals.

15. Use Prism to pay your bills on time.

16. Revisit your budget and financial plan as time goes on to see what’s working and what’s not. Knowledge is power.

17. Pay for stuff in cash to help you save money.

18. Buy a used car.

19. Utilize online budgeting apps like You Need A Budget (YNAB).

20. Max out your 401K. If your employer matches, you’re making free money to enjoy later in life.

21. Maximize apps like Trim to show you where to cut back on your spending.

22. Institute a “no-spend” day in your household.

23. Build a meal plan to make your budgeting skills go further.

24. Shop seasonally and save money on produce.

25. Scan your receipts to earn a little cash back using apps like Ibotta and Rakuten.

26. Eliminate impulse purchases by making a 30-day rule. Write down anything you want and keep it for 30 days before buying.

27. Practice stock trading with Investopedia.

28. Find the best interest rates through Credible.

29. Invest in real estate.

30. Increase your financial literacy.

31. Invest in yourself. Courses, books, training, and college can help you get a job earning a higher income.

32. Learn from the best. Read books authored by millionaires to see how they got to where they are now.

33. Teach yourself how to commit to meeting goals.

34. Take time to educate yourself on the basics of modern finance with a free course through MIT.

35. Use your savings to build momentum toward your million dollar goals.

36. Being a millionaire isn’t just about the money. It’s about developing the correct state of mind.

37. Utilize free online wealth management tools like Personal Capital.

38. Don’t underestimate the value of compounding to increase your wealth.

39. Know your value and don’t be afraid to ask for a raise.

40. Take online courses that can help you earn more income.

41. Build a better, more efficient 401k.

42. Be open to taking advice, especially regarding your investments. The Little Book of Common Sense Investing is the perfect guide to understanding the stock market.

43. Your financial goals should be at the top of your list of priorities. You may not always be able to put your desired amount of savings away, but it’s always better to save something over nothing.

44. Stay healthy. Unexpected medical costs can put a huge dent in your savings. By leading a healthy lifestyle, you’ll ultimately save yourself more money.

45. Eliminate your vices. Whether you like to spend a little too much while shopping or you run up large tabs at the bar on the weekend, cutting out your vices is a great way to save a little cash.

46. Your interest rate isn’t set in stone. Work with your creditor to renegotiate a lower interest rate on your credit card debt.

47. Turn off the TV. It will save money on your electricity bill. Plus, you’ll experience less ad-induced spending and have more time to pursue a side hustle.

48. Consider selling your collectibles. Depending on which items you collect, you may be able to add a decent chunk of funds to your savings.

49. Credit card churning can be dangerous if you’re not prepared to stay on top of it, but utilizing rewards based credit cards in a responsible way can save you money on experiences.

50. Sign up for customer reward programs through your frequently-shopped stores. Every penny you don’t spend on groceries can go straight to saving and investing.

51. If you’re starting out with less-than-stellar credit, research the best credit cards for bad credit and use them to start rebuilding.

52. Download grocery apps that help you make a list and stick to it while you’re shopping.

53. Instead of throwing out damaged clothes, learn how to sew and make repairs.

54. Drink more water. Use a refillable water bottle and stop spending money on beverages like soda, juice, and tea.

55. Eliminate fast food. You’ll feel healthier and save yourself money both now and in the future.

56. Stop throwing away leftovers.

57. Upgrade your home to smart technology.

58. Stop buying books, cds, and dvds and support your local library instead. Apps like Libby allow you to use your local public library card to access ebooks and audiobooks for free.

59. Reduce your energy consumption, and therefore spending, at home by turning off lights and unplugging appliances that aren’t in use.

60. Stay up-to-date on your vehicle maintenance to make your ride last as long as possible.

61. Get crafty and make gifts instead of buying them.

62. Do your best to avoid stress spending.

63. Research has proven that if you share your goals with someone, you’re more likely to reach them. So tell people you love and trust about what you’re working so hard for.

64. Eliminate unnecessary subscriptions. Do you need several streaming apps? Or could you share the cost with friends or roommates?

65. Delete your credit card info from online sites. You’ll be less tempted to make impulse purchases.

66. Instead of buying gifts, offer your time. Babysit for new parents, help your dad finish that project around the house, or take your nieces or nephews to a free activity in lieu of a birthday gift.

67. Declutter your home and sell the unwanted items for cash in a yard sale or online through Facebook Marketplace.

68. Rent out unused spaces in your home through Airbnb.

69. Set up a babysitting crew with your friends. Trade nights watching each other’s children for free and keep it organized with the Sitster App.

70. Pack your lunch. Skipping lunch outings with coworkers will save you money every week, and you can even pack an encouraging note for yourself to cheer you up.

71. Sell your clothes and invest in a capsule wardrobe. You’ll be able to make fewer pieces work for more occasions.

72. Buy items in bulk and put the money you save into your investments.

73. Cancel your gym membership and find ways you can work out for free.

74. Compare cost-of-living expenses between your current home and other areas you’re willing and able to live in.

75. Grow your own fruits and veggies in a home garden.

76. Utilize public transportation instead of driving daily.

77. Travel on a budget.

78. Explore the benefits offered with your job and make sure they’re working for you.

79. Downsize your home and use the savings to grow your investments.

80. Instead of paying fees without question, ask whether or not they can waive them.

81. When appropriate, ditch the name brands and go for generics.

82. Eating less meat is good for the environment and your budget. Start small by having “meatless Mondays” in your home.

83. If your love of beer isn’t a vice you’re willing to give up, brew your own.

84. Setting your student loans to auto payment could earn you a point reduction in your interest rates.

85. Pay attention to your mental health and keep your mind in shape. Paying attention to your emotions can help you save money in a variety of ways.

86. Don’t speed while driving. Avoiding traffic infractions can save you the money of having to pay tickets, as well as reduce your insurance rates.

87. Instead of going out with friends to costly places, find ways to enjoy each other at home or in nature.

88. Don’t underestimate the power of keeping yourself inspired. Meeting your financial goals will be a lot easier if you’re happy and excited about them.

89. Try to make basic repairs around your house yourself instead of hiring a handyman.

90. Make the most of your investments by using apps like Robinhood.

91. Keep all of your vital banking information in one place, like CountAbout, so you can easily stay on top of it.

92. Teach your kids to save for vacations with SmartyPig, a free online piggy bank.

93. Utilize tools like Simplifi to build a comprehensive personal spending plan.

94. Keep a close eye on your credit score with free websites like Credit Karma.

95. Focus on long-term investment goals by using Betterment.

96. Use your free time to make money by filling out surveys on Survey Junkie.

97. Add extra income by driving for a gig-based job like Uber or Lyft.

98. Put your skills to use on websites like Fiverr to earn some extra cash.

99. Give yourself visual reminders of your goals, like charts and vision boards, to help you see what you’re working towards.

100. Never give up. By working hard to save and invest every extra penny, you can achieve millionaire status.