Money, money, money! — Hope O Baker

Aren’t finances confusing? I can’t be the only you thinking that. Where do you put your money? How do you make money off your money? What credit cards are the best for you? First off, I don’t have all the answers. Let’s be real, I was a political science student, not a finance student. I am self-taught, with some help from my best friend – Google. LOL

I do not always get it right, but I have found a lot of amazing resources and want to share! I am going to break it up in sections. First, Investment Tools that I have been using and loving. Second, credit cards I have found to be the best for me and my lifestyle. Lastly, budgeting and spending tracking! So, let’s kick it off.

Investment Tools:

I am EXTREMELY diverse in the investments I make. I have been for years. Over 4 years ago sitting on the floor at EAT Club my colleagues were talking about Robinhood. I decided to check it out. I used to put my commission checks into the App every month, I still do put a portion into it but I diverse it into all the below. PS- I posted links to all, and you’ll get a kickback for starting!

1. Robinhood – I love this App. It is what kicked off my investment journey. It’s Day Trading, but simplified and you can do it yourself! Although I have been down a lot these days given COVID, for the most part, I have made off well. Some of my trades have been made after several cocktails and conversations with people about stocks to purchase, oddly enough, those have worked out pretty well! HA!

Link to check out: http://join.robinhood.com/hopeb5

2. Acorns – This is a REALLY good one. Acorns connect to all of your cards. It rounds up to the dollar on every transaction. You can add a multiplier on that as well, which is what I do. I do 10X on every transaction round up. Once you hit $5 it invests it. You can select the type of risk you want to take with your investments. Given I’m 28, I put a high risk in ALL investment portfolios. (You can do this with Robinhood as well.)

Link to check out: https://www.acorns.com/invite/V3A2H9

3. Masterworks – This is an interesting one. Masterworks publicly trades Art. I own 1% of a Banksy and Andy Warhol. VERY cool. They are SEC certified and you are able to buy into the paintings. There are pretty high minimums on the investments, but well worth it. Returns on Art are typically higher than traditional stock investments, BUT most people cannot afford to buy a 7+ figure painting. So, this is a great platform to get involved in the Art world.

Linked to check out: https://www.masterworks.io/dashboard/offerings

4. Fundrise – Much like Masterworks, this allows you to invest in Commercial Building Projects. The average person cannot invest in an Apartment Complex or Development, this allows you to invest small sums into those projects! I do not have a lot invested here, but throw money in there every couple of months and have been seeing returns. Great way to get involved in real estate without having to shell out 6+ figures to do so.

Link to check out: fundrise.com/r/jndy5v

5. Betterment – This is where the bulk of my investments sit. This is what hosts my 401K, Roth IRA, and a “high interest” savings accounts. I found out about Betterment from American Airlines actually. They were offering 60,000 miles for people who signed up and invested a certain amount of money. I had a couple of calls with their Investment Bankers, did my research, and tried it out. A little over two years in, and I love it! Low fees, easy maintenance, ability to select risk level. Another reason I love Betterment is they show “tax-loss harvesting”. They take your losses and you can then apply it to your tax returns. A win for your loss.

Link to check out: betterment.com/?referral_key=hopebaker

There are SOOOOO many other platforms out there, and I’m sure there are many you love. These are ones that work for me, give them a try and let me know what you think! J

Credit Cards I’m using:

1. American Express Platinum: This is the golden ticket or silver ticket. J If you travel this is the card for you. There is a pretty high yearly fee, but you make that back in rewards for sure. Most of my Amazon spending is paid for with my points from this card! Some of the benefits are 5X points on flights, 5X points on hotels, lounge access in airports, Uber cash, $200 Airline Fee Credits, Upgrades and so much more! I love this card and you will too.

Link to check it out: http://refer.amex.us/HOPEB8izi?xl=cp15

2. Chase Marriot Bonvoy Card: This is another AMAZING card if your travel!! First off, every single dollar you spend you get Marriot Points. On top of the points, you get when you stay at a Marriot hotel that you booked with your card! Double points. J I travel a lot, as I mentioned, so this is a golden card. You get points for joining, and that gets you free nights! You get 6 points for every $1 spend at a Marriot AND 2 points for every $1 spent. Talk about a win. If you are looking to travel more or start saving for a trip, highly recommend this card so you can get your hotel stay for free! Whoop whoop!

Link to check it out: https://www.referyourchasecard.com/252f/4P8CKEWPQA

Budget/Spending Tools:

Last but not least the budget tools, for all the spending you are doing above. I would be lost without these. I try to budget ALL of my spendings because I have a shopping problem. Especially with buying a house, it has become critical for me to budget.

1. TrueBill: This is the only “App” I use and it’s amazing. You are able to link all of your cards to it and put in how much you would like to save/spend each other. IT categorized your purchases automatically and send you notifications when you getting a little too much over budget. Also, sends when you are below! Encouragement is good.

Link to check out: https://app.truebill.com/ (best use is in the App though)

2. Google Spreadsheet: Good Ol’ Google! This is the simplest one. You can create your own spreadsheets or download them from Google. There are TONS. Pick one that is best for you and you are off to the races.

Well, friends, I hope this has been helpful. I don’t know it all but I know what’s worked for me. Maybe it could work for you, too. IF I was going to pick one thing on this list to do right away it would be set up TrueBill. Keep track of your spending and stay on budget, that’s the most important thing. The rest is great, but not unless you are budgeting!!

Best of luck and hit me up on Instagram with your questions!

-Hope