Smith 
When you want to get ahead financially, finding a way to increase your income can be a game-changer. With more money on hand, you can save more, invest more, and grow your wealth significantly. Sounds great, right? But what about saving money? Many people think saving is a drag—like cutting back and giving up things you enjoy.
For some, saving can feel exhausting. Imagine spending a morning cutting coupons—it’s enough to make you want to cry. Honestly, I’d rather hit myself with a stainless-steel spatula than spend five minutes clipping coupons.
Here’s the thing, though: I really do love saving money. Just not in the tedious, spend-all-weekend-cutting-coupons kind of way. Let me explain…
While earning more is exciting, saving smartly can be just as powerful, especially if you go about it the right way. I’m not talking about clipping coupons, shopping at thrift stores, or eating ramen every night. I’m talking about bigger savings—using smart money hacks to cut down your expenses and rethinking your spending habits.
"Hacks like these are what set wealthy people apart from everyone else," says Kansas City Financial Planner Clint Haynes. When you focus on big-picture ways to save, you can build wealth over time. Your approach doesn’t need to be groundbreaking; small changes can have a huge impact.
Haynes is spot on. I’ve managed to save over $4.1 million using some strategies without drastic sacrifices. Can you believe that? $4.1 million! Curious how? Here are five money hacks that have added up to millions in savings over the years. Some numbers are estimates, but you’ll get the gist.
-
Shop Around for Life Insurance:
Is there anything duller than shopping for life insurance? Probably not. But it can help save you a lot. I had multiple term life insurance policies amounting to $2.25 million in coverage. By shopping around, I found a similar policy for $400 less annually, which also offered $2.5 million in coverage—an extra $250,000. I switched and have saved $12,000 over 30 years while getting better coverage. Lifetime savings: $12,000. -
Drive a Paid-Off Car:
Ever seen a grown man driving an old car? That was me with my grandma’s 1998 Chevy Lumina. It looked okay, got me where I needed to go, and was free. This saved me a ton. Driving a paid-off car and investing the difference helped me save $2 million. By avoiding car payments and investing an extra $400 per month, this grew to a substantial amount over time. Even a slightly lower return on investment still amounted to millions. Lifetime savings: $2 million. -
Make Extra Mortgage Payments:
Debates on paying off your home early abound, but you can find a middle ground. Making just one extra mortgage payment each year can save thousands and shorten the loan term. We did this with our old $120,000 mortgage at 5% interest, cutting down our loan by six years and saving thousands. Even with our new home and a $300,000 mortgage at 3.25%, making that extra payment saves us $8,175 in interest and cuts off nearly a year and a half from the term. Lifetime savings: $8,175. -
Increase Investments by 1% Annually:
As my income grew, I made sure to boost our investments. Increasing investments by just 1% each year can have a massive effect. Even if you earn $50,000 and invest an extra $500 annually, it adds up. Over 30 years, this strategy could yield substantial returns—imagine scaling this with a higher income. We’ve applied this annually, allowing our investments to grow by another $2–$3 million by retirement. Lifetime savings: $2 million+. -
Use Credit Card Rewards:
While we stay debt-free aside from our mortgage, we leverage rewards credit cards for cash back and travel points. As an example, we flew our family to Jamaica using points from airline and hotel credit cards—saving us about $4,000. We do this annually, and over 30 years, the savings from credit card rewards add up to $120,000. Lifetime savings: $120,000+.
With these money hacks, my family has saved and invested over $4.1 million. If you want to get ahead, remember that small steps add up. Whether it’s investing a bit more each year, making an extra mortgage payment, or driving your old car, these moves can grow your wealth over time. Rethink every bill, look for ways to save, and turn smart money moves into millions. The choice is yours.
What money hacks have you used to save a lot of cash? Do you make an extra mortgage payment each year? Have you ever refinanced? Share in the comments below!
