They say Rome wasn’t built in a day. Well, the same goes for building your savings — most of us realistically can’t do it overnight. It’s a process that takes discipline.
Fortunately, though, if you set a long-term savings goal and stick to a thoughtful and intentional approach, there’s a dependable way to build thousands of dollars in savings after just a few years. And you can let Rhove do all the heavy lifting.
For one, Rhove enables you to make money on rent — when you rent anywhere offering Rhove you can earn 2.5% cash back every month. Like owning, it gives you cash investing time and money into your home––but with the flexibility of renting. Rhove is truly the first cash rewards program for renters. Finally, life’s largest expense has a loyalty rewards program!
The savings you pile up with Rhove can be astounding. But how does it work? Check out this explainer video, or continue reading.
Let’s say your rent is $1,500 per month. If you contribute $37.50 in savings to your Rhove account each month, your property will match your savings with $37.50 (or 2.5% of your rent amount) each month. That means your total savings balance after one year would be $900! And Rhove only gets better the longer you stay.
The longer you stay, the more you earn. At the end of the second year, you would have $1,800 saved in your Rhove account. And after five years, you would have a total savings of $4,500, a remarkable nest egg when you consider many Americans don’t have even $400 saved.
Of course, you’re free to withdraw the money you contribute at any time, but you’d be missing out on the real long-term benefit of saving with Rhove. It would be like eating at your favorite sandwich shop seven times and then throwing away your rewards card right before getting your 8th sandwich for free. Rhove gets better the longer you use it.
We’re passionate about expanding access and opportunity for everyone to own in their community, and building up savings is a huge step in that direction. So once you’ve piled up savings after a year, pat yourself on the back for choosing to invest in your future, but then keep your foot on the gas—even more value comes through consistent savings over the course of time. It doesn’t mean more work for you. All you have to do is sign up, choose an amount to save, pay your rent, and watch your savings grow in your Rhove account. We’ll take care of the rest.
Sounds great, right? Well, if you’re saving for a home, there’s even more to look forward to.
You also earn Closing Credits when you save with Rhove. You can earn thousands in credits that you can apply to reduce closing costs when you purchase a home with one of our trusted lender and realtor partners. This Rhove benefit comes with no fees or hidden costs, and is simply just another benefit of being a Rhover. Each month you save with us you’ll unlock more and more value for yourself. Learn more about Closing Credits by downloading the Rhove app.
With all this value sitting there waiting for you, what’s stopping you from joining the Rhove-olution?
Start saving today by downloading the Rhove app and creating your account. Be sure to check out all of the properties offering Rhove to see where you can make money on rent. Rhove will change the way you look at paying rent each month.
Note: Closing Credits have been discontinued as of September 2020.