8 Clever Moves When You Have $1,000 In The Bank
FinanceBuzz Editors
Keeping tons of money in your checking account means you're missing out.
Last updated Jun 17, 2021 |
/images/2020/01/11/1000_in_checking_account.jpg)
Saving up $1,000 in your checking account is a big milestone. But leaving the money in checking likely doesn't make much sense since most checking accounts pay minimal or no interest.
Once you've worked hard to amass $1,000, you want to put your money to work for you. Here are eight money moves you can make to get the most bang for your buck and get on the path towards a bright financial future.
1. Invest in Apple, Tesla, or Amazon for just $1
Once you’ve paid all your essential monthly bills, take a look at what’s left in your bank account and come up with an investing strategy. Even if it’s not a lot of money, don’t let that stop you – you can start investing with just $1.
Stash is a great place for beginning investors to get started. You can invest in fractional shares (partial shares) in companies that are household names like Apple, Tesla, and Amazon. A single share of some companies could cost hundreds or even thousands of dollars, but with fractional shares you can invest with as little as $1.
If you're thinking about saving for retirement, you can start investing in an IRA and enjoy the tax benefits that come with retirement accounts. Stash also offers tools and guidance to help you along the way.
As a bonus, Stash will give you $5towards your first investment after you sign up and deposit $5 or more into your personal portfolio.1
Sign up for Stash now
2. Leave your family up to $1,500,000 (starting at just $10/month)
If you're young and healthy, you might not be thinking about term life insurance yet, but you should be. Life insurance companies look at a number of factors including your age, health, and weight to determine the rate you'll pay for coverage. Generally, the younger and healthier you are, the lower the rate.
Bestow can help you find term life insurance policies with up to $1.5 million in coverage starting at just $10/month. You can apply online and get a decision in just five minutes. The best part: you might not even need to take a medical exam.
If you are between 18 and 59 years old, have never had a felony, and are generally in good health, get a free quote today.
Get a quote from Bestow now
3. Cancel your car insurance
We’ve got bad news. You’re probably wasting at least $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there’s something much better.
This new tool from FinanceBuzz can tell you if you’re overpaying for your car insurance in just a few clicks. On average, we find around $500 a year in savings for drivers. And once you try it out, you’ll never have to look for affordable insurance again because we find you the lowest rates that other companies can’t match.
Oh, and it’s also free. And come on — you can’t tell us you don’t want to save $500. To find out if you’re losing $500 or more a year, just enter your zip code here, answer a few questions and see if you’re overpaying. It takes less than 2 minutes.
See if you’re overpaying
4. See how much money you can get back from this account
We hate to tell you this, really. But if you aren’t using the Aspiration debit card, you’re missing out on extra cash with every purchase you make. Don’t worry though… it’s easy to fix.
There’s a debit card from a company called Aspiration, and they give you up to 10% cash back every time you swipe your card. Like when you’re…
Shopping for clothes? Yep… cash back.
Going to the pharmacy? Mhmmm. Cash back.
Getting groceries for the week? Yes, cash back!
It’s so simple. Who doesn’t want extra money? To see how much you could earn, just enter your email address and link your bank account3. By the way, Aspiration is free, your money is kept safe with military-level security, and your deposits won't fund fossil fuels.
See how much you could earn
5. See if you can raise your credit scores in real time
Your credit scores affect whether you can get approved for a loan, a credit card, or even a new job. Usually it can take weeks or months to improve your credit scores, but there's an innovative new feature that could help you raise your FICO® Scores9instantly.
Experian Boost™ can help you get credit for making on-time payments for your phone and utility bills. The process takes just minutes and if qualifying payments are identified, you can include this positive information in your Experian credit file. (Don't worry: If you have any negative marks, those won't count against you.)
Since launching, Experian Boost has collectively increased FICO® Scores across America by over 10 million points. It's 100% free and new potential credit scores take effect immediately.
Sign up for Experian Boost now
Bonus: Build wealth better than the 1%
The 1% doesn’t deserve all the riches. So why do we keep letting it happen?
Worthy is an email newsletter that teaches you how to invest smarter, earn more money, and live the life you want. It’s for the rebellious, the radical, the 99%er who fights like hell to earn their keep. Easily consumed in less than 5 minutes a day, you’ll get the latest financial resources, news, and money trends that could impact your wallet for years to come.
Join Worthy today (It’s free)
FinanceBuzz Editors
Keeping tons of money in your checking account means you're missing out.
Last updated Jun 17, 2021 |
Saving up $1,000 in your checking account is a big milestone. But leaving the money in checking likely doesn't make much sense since most checking accounts pay minimal or no interest.
Once you've worked hard to amass $1,000, you want to put your money to work for you. Here are eight money moves you can make to get the most bang for your buck and get on the path towards a bright financial future.
1. Invest in Apple, Tesla, or Amazon for just $1
Once you’ve paid all your essential monthly bills, take a look at what’s left in your bank account and come up with an investing strategy. Even if it’s not a lot of money, don’t let that stop you – you can start investing with just $1.
Stash is a great place for beginning investors to get started. You can invest in fractional shares (partial shares) in companies that are household names like Apple, Tesla, and Amazon. A single share of some companies could cost hundreds or even thousands of dollars, but with fractional shares you can invest with as little as $1.
If you're thinking about saving for retirement, you can start investing in an IRA and enjoy the tax benefits that come with retirement accounts. Stash also offers tools and guidance to help you along the way.
As a bonus, Stash will give you $5towards your first investment after you sign up and deposit $5 or more into your personal portfolio.1
Sign up for Stash now
2. Leave your family up to $1,500,000 (starting at just $10/month)
If you're young and healthy, you might not be thinking about term life insurance yet, but you should be. Life insurance companies look at a number of factors including your age, health, and weight to determine the rate you'll pay for coverage. Generally, the younger and healthier you are, the lower the rate.
Bestow can help you find term life insurance policies with up to $1.5 million in coverage starting at just $10/month. You can apply online and get a decision in just five minutes. The best part: you might not even need to take a medical exam.
If you are between 18 and 59 years old, have never had a felony, and are generally in good health, get a free quote today.
Get a quote from Bestow now
3. Cancel your car insurance
We’ve got bad news. You’re probably wasting at least $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there’s something much better.
This new tool from FinanceBuzz can tell you if you’re overpaying for your car insurance in just a few clicks. On average, we find around $500 a year in savings for drivers. And once you try it out, you’ll never have to look for affordable insurance again because we find you the lowest rates that other companies can’t match.
Oh, and it’s also free. And come on — you can’t tell us you don’t want to save $500. To find out if you’re losing $500 or more a year, just enter your zip code here, answer a few questions and see if you’re overpaying. It takes less than 2 minutes.
See if you’re overpaying
4. See how much money you can get back from this account
We hate to tell you this, really. But if you aren’t using the Aspiration debit card, you’re missing out on extra cash with every purchase you make. Don’t worry though… it’s easy to fix.
There’s a debit card from a company called Aspiration, and they give you up to 10% cash back every time you swipe your card. Like when you’re…
Shopping for clothes? Yep… cash back.
Going to the pharmacy? Mhmmm. Cash back.
Getting groceries for the week? Yes, cash back!
It’s so simple. Who doesn’t want extra money? To see how much you could earn, just enter your email address and link your bank account3. By the way, Aspiration is free, your money is kept safe with military-level security, and your deposits won't fund fossil fuels.
See how much you could earn
5. See if you can raise your credit scores in real time
Your credit scores affect whether you can get approved for a loan, a credit card, or even a new job. Usually it can take weeks or months to improve your credit scores, but there's an innovative new feature that could help you raise your FICO® Scores9instantly.
Experian Boost™ can help you get credit for making on-time payments for your phone and utility bills. The process takes just minutes and if qualifying payments are identified, you can include this positive information in your Experian credit file. (Don't worry: If you have any negative marks, those won't count against you.)
Since launching, Experian Boost has collectively increased FICO® Scores across America by over 10 million points. It's 100% free and new potential credit scores take effect immediately.
Sign up for Experian Boost now
Bonus: Build wealth better than the 1%
The 1% doesn’t deserve all the riches. So why do we keep letting it happen?
Worthy is an email newsletter that teaches you how to invest smarter, earn more money, and live the life you want. It’s for the rebellious, the radical, the 99%er who fights like hell to earn their keep. Easily consumed in less than 5 minutes a day, you’ll get the latest financial resources, news, and money trends that could impact your wallet for years to come.
Join Worthy today (It’s free)
