15 Financial Life Hacks That Will Make You Rich (But Aren’t Talked About Enough!)
Want to grow your wealth without working 24/7? The secret isn’t just earning more—it’s working smarter with your money.
These financial life hacks will help you save more, invest wisely, and build long-term wealth. From small daily habits to game-changing moves, these aren’t talked about in today’s society nearly enough.
In fact, they’re overlooked so often, it might feel like you’re digging up hidden gems!
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Ready to make your money work for you? Let’s dive in!
1. Automation is Key
Want to know the best kept secret of the wealthy? They put their savings on autopilot.
By setting up an automatic savings withdraw, they avoid mistakes and never forget to do the right thing. Automation also helps you pay yourself FIRST, before you do any spending at all.
Set up automatic savings, bill payments, and investments as soon as you can!
2. Live Below Your Means
Living below your means simply means that you use a budget, like the 50 30 20 rule, to make sure you’re not spending everything you earn. Some of what you make should always be sent to savings – if you want to be wealthy.
Here’s the truth: High-income folks go broke every day. And it’s not because they don’t make enough money. They don’t control their spending.
Are you spending less than you make?
3. Always Have a Superhero Shield
Think of your emergency fund as your superhero shield. This cash stash of 3-6 months protects you from anything life might throw at you. Even those nasty sucker punches!
4. Avoid Debt Traps
Use credit wisely!
Pay Off Existing Debt
High interest debt shouldn’t be stealing your savings. Try the debt avalanche method, which repays debts with the highest interest rates, then moves to those with lower rates. This saves you the most over time.
Use Debt Strategically
Next, save in advance for big purchases, like a car and down payment on a home. This savings, even if it’s small, gives you massive advantage in the long-run. (It will boost you into millionaire status over time!)
Saving for cars before buying them was one of the most influential factors for wealth in my own life.
What about appreciating assets?
You can use “good debt” to acquire assets like rental properties or businesses that increase in value and generate income over time.
5. Invest Early and Often
Investing sets the foundation for financial growth.
Compound interest is the initial amount you put in plus the interest your investment has generated over time. When you invest early, the amount has more time to grow.
For instance, assuming an annual return of 7%, investing $1,000 now is equivalent to over $7,600 in 30 years, purely through compounding. (You didn’t add anything to it!)
6. Invest in Multiple Income Streams
Did you know that the average millionaire has 7 streams of income? In many cases, at least one of these is passive. There are many ways to achieve this.
- Invest in high-yield savings accounts
- Participate in the stock market
- Invest in rental properties
- Start a passive income side
These are just a few! By diversifying your income sources, you mitigate risk and maximize the potential for earnings.
7. Learn High Income Skills to Increase Your Earnings
Increasing your income over time is crucial for financial success. (Particularly for women, who often get stuck earning less than men.)
- Seek out certifications and professional development
- Network within your industry to learn and open doors
- Take on projects that increase your visibility and improve your skills.
- Ask for it! Often women are qualified. They just don’t push for what they deserve. Understand the value that you bring to the table!
8. Become the Best Learner in the Room
Self-education is the cornerstone of every financial empire. The wealthy are ordinary people. They just also happen to be better learners than your average Jane.
Start by
- reading fun money books
- perusing Wealthywomanfinance.com
- signing up for the Wealthy Woman Newsletter
Everyone starts at the beginning. So, if you’re feeling intimated by the world of finance, know that each step in the journey matters. And the best way to build confidence is to make your learning a priority.
9. Network With the Wealthy
Surround yourself with financially successful people. If you can’t do this in person, reading books, attending conferences, and listening to podcasts still help their key mindsets rub off on you.
Who are 3 financially successful people you could learn from?
10. Invest in Your Quality of Life
The rich know that there’s a difference in spending and investing. Hint: You want to invest as often as possible!
Does it Make your Life Better?
Before you buy, ask yourself if what you are buying is going to make your life better. It’s a simple rule I follow, that I like to call the “quality of life lens.”
Of your purchases in the last week, how many of them would pass the “quality of life” test?
11. Negotiate Everything!
This is one financial life hack, that I’ve learned recently through business. For years, I’ve been paying face value for business subscriptions. But recently, I reached out to the most expensive software subscriptions and asked for a discount.
What happened? Well, I saved $500. In one afternoon of sending emails!
From your salary to bills and subscriptions, negotiating can save thousands over time.
12. Protect Your Progress
Managing your money includes safeguarding your earnings.
Make sure you consider:
- Insurance Policies: Health, disability, and life insurance protect you and your family from financial hardships due to illness, injury, or death.
- Legal Directives: Wills and living trusts are legal documents that ensure your assets are distributed according to your wishes.
Do you have these in place?
13. Do Your Taxes Like the Wealthy
The wealthy use every strategy available to them to make sure their earnings are working for them. So, take advantage of legal tax loopholes, deductions, and retirement account strategies to reduce your taxable income.
Do your research and talk to a CPA as soon as you can!
14. Try Geoarbitrage
These last two personal finance hacks are unique and require commitment. But they’re big movers in boosting your financial life.
Moving to a lower-cost-of-living area (even temporarily) while earning money remotely or in a higher-income region can make a huge impact on your saving margins.
Your money stretches further, allowing you to save and invest more.
15. House Hacking
Finally, consider buying a multi-unit property or renting out part of your home (like a basement or spare room) to have tenants cover your mortgage.
You live for free while building equity!
What’s Next?
Try out these financial life hacks and you’ll be on your way to millionaire (and maybe even billionaire) status in no time.
Next, join the Wealthy Woman community. It’s a growing number of women building wealth now!
Don’t forget to pin these financial life hacks on Pinterest for later!
