Here are 9 ways to feel rich on a budget (2024)

What does it take to be considered rich? A net worth of around $2.2 million, according to Americans who participated in Schwab's 2022 Modern Wealth Survey.

What does it take to feel rich? A few financial tools and products you can use, even if you're on a budget.

From credit cards with luxury perks to money-earning banking accounts and apps, you can give yourself VIP treatment with just a little know-how. Below, CNBC Select outlines several simple ways you can feel wealthy without a couple of million dollars to your name.

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Perhaps one of the best ways to feel better about your financial situation is actively working to improve it — faking it till you make it will only get you so far.

Investing is an essential method of building wealth but it may seem difficult to get into when there's little room in your budget for it. Plus, as a beginner, you might not know where to start.

An investing app may be a good place to begin. It allows you to automate the process and invest small amounts of money. For instance, Acorns can be a good choice for novices: It lets you put your spare change into diversified ETFs by linking your cards. The app tracks your purchases, rounds up the transaction amounts to the nearest dollar and invests the difference. This way, you can dip your toe into investing without going all in or overloading your budget.

Imagine going about your business — shopping for groceries, filling up your car, paying bills — and earning money while doing that. That surely sounds like something only the top 1% is accustomed to.

In reality, you can do it, too. Most likely, you won't be earning thousands of dollars per minute like a billionaire CEO, but you can still grow your money without putting in much effort.

Use bank accounts that offer rewards or earn interest. Boost your savings by keeping them in a high-yield savings account. Currently, you can find savings accounts, such as the LendingClub LevelUp Savings (5.30% APY with monthly deposits of at least $250 or a 4.80% Standard APY) or Bask Bank Interest Savings Account, that earns an APY of 5.10%.

You can also get a rewards credit card to get cash back or travel miles on everything you buy. CNBC Select ranked the Chase Sapphire Preferred® Card as the best choice for those starting out with travel rewards because of its wide range of travel benefits, competitive rewards program and modest annual fee. If you want to earn points on your biggest monthly expense, rent, you can do so with the Bilt Mastercard®.

Having a personal assistant is the epitome of the lifestyle of the rich. Imagine if you had someone ordering last-minute gifts for your family at your request, organizing your travel plans and scoring reservations at perpetually unbookable restaurants.

You can have exactly that with credit card concierge services. Concierge agents can help you with tasks like planning and arranging travel, booking tickets for events or restaurant reservations, shopping for sought-after items and more.

This perk is typically reserved for premium and exclusive credit cards but you can also find it on some cards with annual fees under $100. For example, the $95-per-year Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card both come with Visa Signature® Concierge services and Mastercard Complimentary Concierge service* respectively. Or, if you'd rather avoid the fees, you can also get this perk on some no-annual-fee cash rewards cards like the Wells Fargo Active Cash® Card. Meanwhile, the no-annual-fee Bilt Mastercard® unlocks access to the Mastercard Concierge Service.

*Benefit available to accounts approved for the World Elite Mastercard product, subject to terms, conditions, and exclusions in the World Elite Mastercard Guide to Benefits. See Account Terms or Application Terms for more details. Terms, conditions and exclusions apply.

Concierge services aren't the only way your credit card can make you feel VIP. There's a whole range of card benefits designed to enhance your travel experience and take it to the premium level. For example, you can use the points and miles you earn with your travel rewards card to book fancy hotel stays or first-class flights very little — or nothing — out of pocket.

Doing this doesn't necessarily require a pricey card or a complicated rewards strategy. For instance, at $95 per year, the Capital One Venture Rewards Credit Card gets you 5X miles on hotel and rental cars booked throughCapital One Travel and 2X miles on all other eligible purchases.

You can then redeem these rewards at a fixed value of one cent per mile to offset recent travel purchases or cash them in toward booking travel throughCapital One Travel. Or, to stretch the value of your miles, you can transfer them to over a dozen different airline and hotel partners. To give you an idea of the redemption possibilities, you could transfer 25,000 miles to Turkish Airlines —which are normally worth $250 toward travel — and book a round-trip domestic first class flight on United Airlines.

One of the least luxurious airport experiences is undoubtedly going through a security line. Time is money and there's nothing VIP about waiting for 20 minutes (or longer) only to rush to take off your shoes, fish a laptop out of your stuffed backpack and then be questioned about the content of your pockets.

All this can be avoided by signing up for an expedited security clearance program. There are three main programs in the U.S. designed to hopefully shorten your time in line:

• TSA PreCheck®: Costs $85 for a five-year membership and gives you expedited security checks at more than 200airportsin the U.S.
• Global Entry: Costs $100 for a five-year membership and gives you full TSA PreCheck benefits, as well as expedited customs clearance upon arrival in the U.S. aftertraveling internationally.
• CLEAR: CLEAR accelerates airport security screenings by using biometric technology rather than traditional IDs to verify your identity. Once scanned, you will be escorted to the front of the general security line, or to the front of the TSA PreCheck line if you're also enrolled in the program. CLEAR membership costs $189 per year.

Although all of these programs come at a cost, there are many credit cards that reimburse your membership fees. Credit cards with expedited security perks usually come with an annual fee, but there are some affordable options. Namely, the Capital One Venture Rewards Credit Card and Bank of America® Premium Rewards® credit card both have annual fees of under $100 and reimburse cardholders in statement credits toward Global Entry or TSA PreCheck every four years.

Another kind of luxurious treatment your card might offer is complimentary access to airport lounges.

Airport lounges generally offer comfortable seating and complimentary food and drinks. Some even have nap pods, shower suites and yoga rooms. Not to mention, they tend to be much more aesthetically pleasing and less crowded than the general boarding area.

To get into an airport lounge, you generally need to pay for a day pass or annual membership, fly in a premium cabin on a long-haul route or have a certain elite status with an airline. Or, you can carry the right credit card.

Many credit cards with airport lounge access come with annual fees north of $500. The Capital One Venture X Rewards Credit Card is one of the more affordable cards in this category. At $395 per year, you'll get unlimited access to an extensive network of Priority Pass and Plaza Premium lounges worldwide, as well as to Capital One lounges.

Special treatment can continue beyond the airport if you have a credit card which makes reaching elite status with an airline or hotel chain easier.

Airline credit cards can unlock premium perks like priority boarding, a first checked bag free and more. Although they rarely award elite status outright, they can provide a boost to help you get there.

Meanwhile, some hotel credit cards are more generous and may give you automatic elite status just for being a cardholder. A good example is the Marriott Bonvoy Brilliant® American Express® Card. Although its $650 annual fee (see rates and fees) may sound steep, cardholders get automaticMarriott Bonvoy Platinum Elite status, granting perks like free breakfast at some brands and upgrades to suites, while those chasing a higher tier of status get 25 Elite Night Credits each year.

The Platinum Card® from American Express stands out for offering automatic gold elite status in the Marriott Bonvoy and Hilton Honors programs and other elite-like benefits through the Fine Hotels + Resorts or The Hotel Collection programs. Perks of these programs may include room upgrades, late check-out, early check-in, complimentary breakfast and property credits.

This card is also great for those who frequently rent cars as it offers automatic status and special privileges through several car rental companies. This can get you perks like car upgrades when available, the option to skip the counter and a wider car selection.

Knowing that your expenses will be taken care of if something goes wrong during your trip is a special kind of luxury. And you can usually get it with good travel insurance.

There are many types of coverage you can get with credit card travel insurance. An airline lost your baggage? With the right card, you can have the loss covered with lost luggage reimbursem*nt. Your trip was significantly delayed so you have to book a hotel for another night? Trip delay insurance can help you get reimbursem*nt. Had to cancel your trip altogether? Trip cancellation and interruption insurance can put the money back in your account.

The Chase Sapphire Reserve® offers some of the most comprehensive travel protections, including baggage delay insurance, lost luggage reimbursem*nt, trip cancellation/interruption insurance, trip delay reimbursem*nt, travel accident insurance and more. Learn more about thespecific terms for each benefit.

Without a doubt, it's nice to be treated like royalty without being in a high tax bracket. That said, don't neglect to grow your wealth and track your progress. This will help you see how far you've come and motivate you to continue.

You don't have to create a spreadsheet of all your debts and assets to calculate your net worth. Plus, it might be a pain to keep updated. Instead, you can automate the process by using an app like Empower which is known for its Personal Dashboard™ tool that lets users see all their accounts in one place and track their net worth.

You don't need to make seven figures to enjoy some of the perks commonly associated with that lifestyle. A few financial tools and credit cards can help you feel like the crème de la crème of society.

Still, don't forget that actual wealth isn't in elite statuses or VIP treatment. It's in the assets you have — your car, your home equity, your retirement savings and investments. Make sure you don't overspend chasing the perceived richness and prioritize building real wealth.

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For rates and fees of the Marriott Bonvoy Brilliant® American Express® Card, click here.

For rates and fees of The Platinum Card® from American Express, click here.

Select rates/fees to learn more about the product features, terms, and conditions of the Bilt Mastercard.