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.
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 $10 towards your first investment after you sign up and deposit $5 or more into your personal portfolio.1
Cancel your car insurance
We’ve got bad news. You could be wasting $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 up to $500. To find out if you’re losing up to $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.
Stop overpaying when you shop online
Shopping online has its perks. It’s super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don’t always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.
Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, they will automatically add the best coupon code in their extensive database to help you save cash. And before you check out at favorite stores like Amazon, Target, Home Depot, and Best Buy, Capital One Shopping will notify you with a friendly pop-up if the item you’re buying is available cheaper somewhere else.
Capital One Shopping is free to use and will never show you ads. Add it today and stop overpaying!2
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.
Invest in real estate for only $500
Real estate is a great path to passive income. But traditionally, investing in the market meant buying — and selling — complete properties (and even being a landlord… ugh).
Thanks to Fundrise, you can get in on the potentially lucrative real estate market for just $500, and start building passive income today.
Here’s how it works: Fundrise lets you invest in REITs (real estate investment trusts). They’re similar to mutual funds or ETFs, allowing you to buy shares of real property at a fraction of the cost.
But it gets better… The smart tech behind Fundrise slashes management fees (we’re talking 1%, people), amplifying your gains over time. Plus, the Fundrise portfolio is designed to weather long economic storms, making it a smart move for savvy investors.
With low fees and greater diversification, Fundrise is a must-have tool for your investment strategy.
Start earning up to 20% cash back at Amazon
If you have a credit score over 700, we’ve got a little secret for for you.
With the Blue Cash Everyday® Card from American Express, you can earn $100 cash back (in the form of a statement credit) after spending $2,000 in the first 6 months; plus, earn 20% back on amazon.com purchases in the first 6 months, for up to $150 back and 3% cash back at U.S. supermarkets (up to $6,000 per year, after that 1%).
The best part: the annual fee is $0 (See rates and fees). Terms apply.
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.