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ABOUT THIS EPISODE:

Money and financial planning can be a looming dark cloud for some people. With money being the biggest stressor and leading cause of divorce, it can sometimes be a tricky topic to navigate.

My longtime friend Chris Hutchins joins me as we discuss ways you can optimize your life. Chris and I both worked as photographers and have grown our professional careers in parallel. Chris is a Life Hacker, Product Builder at Wealthfront—a company that helps people grow wealth through investing—and host of All the Hacks Podcast.

As an avid life hacker, Chris has seen success upgrading his life without having to spend a fortune. Chris has been featured in a documentary and other media outlets for collecting over 10 million credit card points! Chris’ insight on the topic can help you take inventory of untapped potential and hack your life as well. Here are five tips for hacking your life.

Set Aside a Few Months of Savings

Before getting into the more intricate aspects of life hacking, it’s important to have a solid financial base. A way to do so is to set aside a few months’ worth of cash. Whether you can afford to set aside 3 months, 5 months or 8 months—having that cash is essential to laying a solid ground for financial success.

If you’re ever in an unfortunate instance where you unexpectedly need cash, borrowing will prove to be a huge burden. Interest rates are typically going to be high, which could set you back a lot financially. Having a few months’ worth of savings ensures that you’re financially prepared for the unexpected.

Pay Off any High Interest Debt

This is another basic rule for laying the ground for financial success. It doesn’t make sense to start growing your financial surplus if you’re still in the process of paying off any high interest debt. This will only cause you to go in circles financially. If you can’t pay your credit card debt off every month, taking care of that should certainly be your biggest priority. Once you learn to manage that, you’re ready to start upgrading your life.

Take Advantage of the “New Customer” Deals

Now that you’ve gotten your savings and high interest debt taken care of, you’re ready to move on to the big leagues.

Banks and credit card companies are eager to get new customers. Cards are offering miles and points for new customers that sign up and spend X amount of money within a certain time span of joining. Obviously, this doesn’t make sense if you’re not going to spend the minimum amount of money to earn the free miles or points—but if you are, you’re essentially traveling for free.

Or if you join a bank that’s offering a $500 bonus for depositing a certain amount of money, by joining that bank and making the deposit you’re signing up for free money. If you have the means to take advantage of the deal, do it.

Be the “Planner”

Say you and your friends are planning a trip. Offer to be the trip planner. Book the flights for everyone. Book the rooms. Put it all on your credit card. It’s a little extra work of course, but before you know it, you’ve racked up thousands of points and miles by spending other people’s money.

Do this any chance you get—whether it’s offering to put your work expenses on your card and doing a write-off or offering to book or plan something for a friend or family member. The little extra work will be well worth the free miles and points.

Reach Out to Your Hotels

Ending on an easy life hack that anyone can take advantage of—reach out to your hotels. If you’re planning a trip at a hotel with nice rooms or accommodations, book the regular room. Shortly after booking reach out to the hotel to let them know that you just booked a room with them and that you’re thrilled for your stay. Follow up with another email a few days before your trip to let them know you’re checking in in a few days and you’re so excited. Nine times out of ten, the hotel will give you some acknowledgement. This could be anything from a free bottle of champagne when you check in to an upgraded suite. It never hurts to reach out!

• All the Hacks to Maximize Your Life with Chris Hutchins