15 Underrated Money Moves That Could Launch Your Wealth to the Next Level

Unlock the potential for financial success with these often-overlooked money moves.

woman sit at desk manage budget
Updated June 6, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

You’re on a budget, saving money, and trying to do all the smart financial things. But there are a few next-level money moves you can make today that can help you build wealth.

Whether you’re looking to reduce your spending further, maximize your savings, or invest in the future, here are 15 underrated ideas to contribute to your financial well-being.

If you’re over 50, take advantage of massive discounts and financial resources

Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.

How to become a member today:

  • Go here, select your free gift, and click “Join Today”
  • Create your account (important!) by answering a few simple questions
  • Start enjoying your discounts and perks!

Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.

Become an AARP member now

Get a high-yield savings account

Kittiphan/Adobe stressed young couple checking bills

If your hard-earned dollars are still languishing in an account with an interest rate that starts with zero, it’s time to switch banks. Rates on savings accounts are frequently topping 4.00% — sometimes more. 

For money you plan to park for safekeeping (like your emergency fund), a high-yield savings account makes it easy to earn passive income.

Check your subscriptions

Diego Cervo/Adobe Netflix app of tablet

We’re all guilty of letting subscriptions we no longer need or want drain our bank accounts. Do a purge every few months and cancel the offerings you don’t use. 

And if you just signed up for a service with a free trial, set a reminder in your phone to cancel the subscription before you get charged.

Shop around for insurance

NAMPIX/Adobe man signing car insurance policy

Insurance companies know that applying for insurance coverage is time-consuming and annoying. They bet that you’ll put up with rate increases rather than go through the trouble of getting quotes. 

If your company raises your rates, don’t hesitate to shop around for a better rate.

Resolve $10,000 or more of your debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1

How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.

Try it

Rent or borrow expensive stuff

polkadot/Adobe man choosing clothes

If you need an expensive gown, a power washer, or a snowboard for a one-time event or project, don’t fork out the money to buy it if you can rent it instead. Ask a friend or use peer-to-peer lending apps like Yoodlize to borrow what you need.

Make an extra mortgage payment

pla2na/Adobe red graph chart rising up

This is a great strategy, especially if you get paid biweekly. Based on how biweekly paychecks fall, two months of the year will give you three paychecks instead of two. 

If you use them to make two additional mortgage payments, you will cut six years off of your 30-year mortgage.

Take care of your physical health

Dirima/Adobe two athletes running at sunset

This doesn’t sound like financial advice, but it is. Healthcare accounts for about $5,400 of the average American household’s annual spending. 

While we can’t control every aspect of our health, eating healthy, drinking water, getting regular exercise, and limiting your alcohol and tobacco consumption are great first steps to help you spend less of your money at the doctor’s office.

Ask for a discount

Yakobchuk Olena/Adobe shop assistant using digital device

Asking for a discount may feel uncomfortable, but you may be surprised at how often companies will give you one for all kinds of reasons. 

This can include a first-time customer discount, a loyal customer discount, a markdown on damaged or open-box items, etc. Remember — if you don’t ask, the answer is no.

Educate yourself on finances

Malik/peopleimages.com/Adobe woman with laptop in home office

Knowing the ins and outs of personal finance makes you more likely to make good money moves (like saving for retirement and following a budget) and less likely to fall into traps like payday loans or credit card debt.

With hundreds of books, podcasts, YouTube videos, and blogs on the internet, you can find nearly anything you’d want to know about money with a quick search.

Save your "savings"

insta_photos/Adobe woman relaxing on couch using phone

Every store loves to tell you how much you “saved” by shopping its sales, but how many times do you actually put the money you didn’t spend into a savings account? 

This can add up quickly, and you shouldn’t feel the pinch if you were planning to spend the money anyway.

Apps that round up purchases to an even dollar amount and save the difference, like Acorns or Qapital, can automate the process.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

Automate everything

shurkin_son/Adobe housewife wearing headband and casual shirt paying utility bills

Say goodbye and good riddance to late fees. The more you can automate paying your bills, saving, and investing, the better off your finances will be. 

This means you only have to decide once (when you set up the payments), and you don’t have to rely on your willpower each time a bill is due.

Calculate prices in hours of work

iana_kolesnikova/Adobe businesswoman thinking about something

The next time you consider making a big purchase, calculate how many hours of your life (based on your hourly wage) you had to work to earn it. 

This is a very revelatory exercise as it helps you determine whether what you’re spending your money on is worth the effort.

Separate checking and savings accounts

kerkezz/Adobe consulting with a financial manager

It’s easy for money to wander between accounts if they’re linked. If you’re seriously committed to growing your savings, stash it in a different bank than you use for your checking account. 

This makes it harder to get to, though not impossible, when you truly need your emergency fund.

Contribute enough to get your employer’s 401(k) match

Vitalii Vodolazskyi/Adobe 401K plan on white paper at table

If your employer matches your 401(k) contributions, do all you can to put in enough to get the whole match. This money is free for the taking and could be the best return you’ll get on your investment dollars.

Ask for a raise

Jadon B/peopleimages.com/Adobe woman manager with an employee

Inflation has pushed prices up, but it has pushed wages up as well. If your pay has stagnated and your job performance is good, gather your courage and ask your boss for a raise.

Put together a few talking points beforehand on how you’ve benefited the company and brought value as an employee so you can make a case for yourself. 

And remember — even if the boss says no, you’re not getting paid any less than you are now.

Check your credit report often

LIGHTFIELD STUDIOS/Adobe man at office holding credit report and laptop

The items on your credit report (inquiries, payment history, number of accounts, etc.) determine your credit score, which in turn determines the interest rate banks will offer when lending to you.

The difference between a good credit score and a great one can translate to thousands of dollars over the life of a loan, such as a car note or mortgage. 

Ensure that your credit report is error-free so you can get the best rates possible and avoid throwing away money.

Bottom line

lovelyday12/Adobe man putting pennies in mason jar while writing on notebook using pen at table

Despite what you might think, many smart money moves are measured in millimeters, not miles. Small, consistent financial wins add up quickly, boosting your peace of mind and helping you get ahead financially

There’s no need to be overwhelmed by a lengthy financial to-do list; choose one or two from this list that you can try today.

Choice Home Warranty Benefits

  • First month free
  • Protection for unexpected expense
  • 24/7 claims hotline
  • Network of over 15,000 technicians

Author Details

Jenni Sisson

Jenni Sisson is a freelance writer and editor who focuses on personal finance, real estate, and entrepreneurship. She has been published in Business Insider and The Ways to Wealth. In addition to writing, Jenni hosts the Mama's Money Map podcast to help fellow stay-at-home moms on their journey to financial freedom.