It seems counterintuitive, we know. But sometimes spending money can actually make you richer.
When you’re thinking of building long-term wealth, saving money and cutting costs can only take you so far, explains Certified Financial Planner Robin Hartill (who is also an editor and financial advice columnist here at The Penny Hoarder).
If you want to be truly richer, sometimes you need to spend money to make money. Here are some examples:
1. Your Bills: You Can Own a Slice of a Company When You Pay Your Bills
Whether you’re paying for your monthly streaming service, filling your tank or grabbing groceries, shouldn’t you be rewarded for your loyalty¹?
When you bank with Stash, your Stock-Back® Card² does just that. When you swipe your card at popular brands like Costco, Netflix, Amazon, McDonalds, AT&T, BP and CVS, you’ll automatically get a piece of stock in that company. Or, get rewarded with a default investment that you choose when you shop local or at privately owned companies
The Stash Stock-Back® Card² has no overdraft or monthly balance fees³, and monthly subscriptions start at just $3. Then when you deposit at least $1 in your Stash banking account, you can start banking immediately.
Your stocks can grow over time, plus you’ll automatically diversify your portfolio by shopping at different brands. More than 50 million pieces of stock have already been rewarded.
It takes just a few minutes to download the app here and get started.
2. This Free App Will Give You up to $1K in Free Stock Just for Signing Up and Funding Your Account
When you open a free SoFi Invest account and fund it with at least $10, they’ll give you free stocks in return — worth up to $1,000.
With SoFi, You can buy full or fractional shares of popular stocks, plus you can invest in exchange-traded funds — or collections of stocks.
If you’re new to investing, SoFi has automated investing tools to help simplify things. Plus, they won’t charge you any SoFi management fees.
It only takes a minute to open a free account and get started. Then, once you fund it with at least $10, SoFi will reward you with your free stock — which could be worth up to $1,000.
*See terms
Kari Faber is a staff writer at The Penny Hoarder.
*Stash: Paid non-client endorsem*nt. See Apple App Store and Google Play reviews. View important disclosures.
Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value.
¹ All rewards earned through use of the Stash Stock-Back® Debit Mastercard® will be fulfilled by Stash Investments LLC and are subject to Terms and Conditions. You will bear the standard fees and expenses reflected in the pricing of the investments that you earn, plus fees for various ancillary services charged by Stash. In order to earn stock in the program, the Stash Stock-Back® Debit Mastercard must be used to make a qualifying purchase. Stock rewards that are paid to participating customers via the Stash Stock Back program, are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.
² Stash Banking services provided by Stride Bank, N.A., Member FDIC. The Stash Stock-Back® Debit Mastercard® is issued by Stride Bank pursuant to license from Mastercard International. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Any earned stock rewards will be held in your Stash Invest account. Investment products and services provided by Stash Investments LLC and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.
³ For a complete list of fees please see the Deposit Account Agreement for details.
*SoFi: *Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.
Terms for ‘Claw’ Promotion: https://www.sofi.com/invest/clawpromotion/rules
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org), (“Sofi Securities”). Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) SoFi Crypto is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of SoFi Digital Assets, LLC, please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Bank, N.A.
