How to increase your net worth by flipping the script on automated expenses

Do you soothe your financial anxieties by watching money grow in a traditional savings account? So much so that you avoid putting that money anywhere else out of fear of making mistakes or poor investments?

You’re not alone. Shane Walker, CEO of the banking app Qube Money, says he often hears this sentiment from clients. This is especially true as automation dominates electronic transfers and paying bills, he said. Funds for bills are drawn directly from a person’s account, leaving Walker’s clients feeling as if their account balances are too low.

“The world that we live in is ever-moving towards automation and digitization, which consequently creates a lack of clarity around money for people,” said Walker, whose startup focuses on systemizing mindful spending. “They don’t know where their money is going, which creates anxiety.”

We’re here to tell you that keeping your money in a traditional savings account, which may feel comforting and prudent now, could ultimately lead to a type of financial loss down the road. It’s time to flip the script: spending (and investing) your money in strategic ways can actually be a practice in forced savings — you may not see the return overnight, but you will over the decades.

Walker says understanding exactly where your money goes each month and having a financial strategy will make it easier to get the most out of your money.

“If we know what our money is for and know where it’s going, then the anxiety leaves, and confidence and control replace that anxiety,” he said.

Here are six places you can put your money that will help you save (and earn more) in the long run.

Your mortgage payment may feel like a big expense, especially as rates remained around 6% at the start of the year. But instead of thinking about how the interest rate increases your monthly payments, think about the wealth you’re accruing.

Here’s an idea of just how much that could be: Between 1967 and 2024, home values appreciated 4.27% annually on average, according to Redfin. At that rate, a home purchased in 1967 for $22,200—the median home price at the time—would be worth $261,671 by the start of this year, a difference of $239,471.

Since 2020, value growth has been even steeper. Between 2020 and 2025, home values increased between8% and 9% each year, per Redfin. Meaning, if you bought a home in 2020 for $329,000—the median home price at the start of that year—your home could be worth $432,642 at the start of this year — a whopping $103,642 return over six years.

That return dwarfs what you would pay in interest, even if you had a relatively high rate.

To get the most out of your return, look at lenders with low rates, like Better and Navy Federal Credit Union, two of our top picks for mortgage lenders.

Owning a home can come with a myriad of unexpected expenses, from fixing a leak to replacing your furnace. And these things typically aren’t cheap. For example, a furnace can cost up to $12,000, according to HVAC manufacturing company Bryant.

If you wouldn’t be able to cover an expense like this on your own, a home warranty could help. These plans pay to repair or replace pieces of your home, like appliances and garage doors. Most plans cost between $500 and $700 per year, and can pay either the whole expense or a part of it, depending on your plan’s limits and the item’s cost.

Choice Home Warranty is one of our top picks because it offers a generous flat $3,000-per-item annual limit and gives customers one month free if they pay their contract in full up front. Many other home warranties have different limits for appliances, repairs and systems. American Home Shield is another standout for its high coverage limits for appliances, since it can pay out as much as $2,000 per appliance on even the most basic plan.

Most retirement accounts — including 401(k)s and IRAs — will likely yield between 5% and 7% each year. These earnings are compounded over the life of the account, so you’ll earn more the longer you save.

For example, a 30-year-old worker has never put a cent toward retirement and plans to start now. They make $100,000 and will contribute 12% of their salary into a retirement account each year until they reach age 67 — that’s $1,000 monthly and they expect a 7% annual yield.

By 67, they should have contributed $444,000, but would have a balance of $993,300 in their retirement account — a yield of $549,300.

If you have a full-time job, your employer may offer a 401(k), and could even match your contributions, meaning more money at no extra cost.

If your employer doesn’t offer a 401(k), you can open an IRA. Our top picks for IRA accounts are Charles Schwab, which has relatively low fees, and Fidelity, which offers a slew of educational materials and an easy-to-understand investor dashboard, making it a great option for those starting out.

For some, paying life insurance premiums for a whole, universal or other permanent policies can be a form of forced savings. Whole life insurance has premiums and a death benefit that don’t change, while universal life insurance has flexible premiums and a death benefit that can go up or down depending on the cash value of your policy.

Premiums can be high — the average whole life insurance premium is $414 per month for a healthy 40-year-old male with a $500,000 policy in 2026, according to Nerdwallet and online life insurance brokerage Lifestein.com.

Permanent life insurance is one way to leave a legacy for heirs as they can inherit the death benefit after you die. And, life insurance payouts typically aren’t taxable, which can make them a good way to transfer generational wealth.

It can also be used while you’re living: Any cash value you accumulate in these plans can be used to pay premiums or fund retirement. Unlike term life insurance, which expires if you outlive the time frame, permanent life insurance is guaranteed to pay out as long as you’ve kept up with premiums.

If you’re interested in whole life insurance, we’ve previously named MassMutual as a strong pick for its flexibility — its Whole Life Legacy 65 policy allows you to pay up your policy in full before you reach age 65 — and a strong record of dividends. If you’re looking for a universal life insurance policy, that has more flexible premiums, Pacific Life has the widest variety of options, including indexed universal and variable universal life insurance.

If you’re a pet parent, you already know that their care isn’t typically cheap. While a major illness or injury can be a costly concern, even routine expenses can catch you off guard. And vet bills are on the rise — the price of veterinary services increased by 7.4% between January 2025 and January 2026, according to the consumer price index.

While a standard pet insurance plan covers unexpected accidents and illnesses, they don’t cover things like routine vaccines, exams and other recurring expenses. If you’re not sure you’d be able to save for these expenses on your own, adding a wellness plan to your pet insurance can help.

Some of our favorite wellness plans include those from Pumpkin and Spot. Pumpkin’s plans start at $15.95 per month for cats and $20.95 per month for dogs. Additionally, its basic plans provide $315 per year for wellness exams, vaccinations and routine testing. We also like Spot’s pet wellness plan, which offers coverage for dental cleanings in addition to vaccines and annual exams.

If moving money in any of these ways feels too intimidating for you because you’re worried it will be tied up, here’s one thing you can do: Move some of your cash each month to a Money Market Account (MMA).

These accounts have features like an ATM card, checks and no withdrawal limit, but a yield that’s above a traditional savings account. You can earn up to 4% a year with these accounts as of February.

Quontic Bank and ZYNLO® Bank have two of the highest yields.