If You Have More Than $1,000 in Your Checking Account, Make These 7 Moves
You’ve done it. You’ve built up a little cushion in your bank account — $1,000! It feels good, right? Those days of checking your account balance in a panic are behind you.
Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?
What’s the next step you should take? What are some specific things you can do to take your finances to the next level?
We’ve got some ideas for you:
1. Invest in Real Estate Without the Volatility — You Only Need $500
You’re not the only one who daydreams about making money in your sleep. And investing in real estate is one of the best ways to earn passive income. The only problem? You need to have lots of money. Well, you used to…
With a company called Connect Invest, you can get your foot in the door for just $500, investing in what are called short notes. And, if you make your first investment before August 31, you can earn a $20 bonus.
Basically, you’re buying the debt that wealthy developers take on to fund their real estate projects — and they have to pay you back, with up to 9% in interest… while you sleep.
With Connect Invest, you’ll invest for terms of six, 12 or 24 months, during which you’ll receive monthly fixed-interest payments between 7.5% and 9%. You could earn a legit passive income with those rates — and it’s way higher than what you’d earn with your savings account!
Connect Invest carefully vets each real estate project and borrower. And don’t worry, all loans are backed by real estate collateral. In the rare event of a default, Connect Invest’s sister company will foreclose on the property with the investors’ approval and sell it to recover your investment.
It’s super easy to set up your free account and start investing. To earn your $20 bonus, make sure to select “Penny Hoarder” as a referral source, and apply promo code “PH23.”
2. You Can Casually Make Money from Rent Checks
We can admit it. We all like to browse breathtaking vacation rentals and swanky residences in our downtime. But with nearly the same amount of effort, you could be making extra money.
A company called Arrived lets you get a cut of rent checks without having to own a full property.
You can earn passive income every month with as little as $100 invested or as much as $50,000+ per property. Basically, the more you put into a rental property, the more you can potentially get out of it every month.
Just browse their detailed listings and invest in the rentals you like. You’ll get your cut of their rent checks every three months – on top of any appreciation.
Arrived experts thoroughly investigate the properties they list, and only a tiny fraction of them actually make the cut: less than 0.2%.
They handle the end-to-end management and work with reputable contractors and property managers, so you don’t have to make house calls to collect your money.
Wanna see how much extra money you can bring in? Just sign up for Arrived with your name and email address.
3. This Free Debit Card Give You Cash Back on Every Purchase
Wouldn’t it be nice if you got special treatment wherever you went? You can actually get rewards wherever you shop, using this free debit card from Discover.
You’ll earn 1% cash back on every single purchase you make using your Discover® Cashback Debit account, on up to $3,000 monthly.* There’s no impact on your credit score for signing up and no minimum balance requirements ever.
Need groceries? Tap your card for cash back. You can also get paid sooner with Early Pay direct deposit, protect against overdrafts and access to over 60,000 ATMs without fees. You can handle all of your banking needs through the app and connect a virtual wallet like Apple Pay to amplify your rewards. And on top of all that, checking-account deposits are FDIC-insured up to the maximum amount allowed by law.
Does your bank do all that? If not, open a free Discover checking account to get special treatment from a bank that will actually put money back into your account.
*See website for details.
4. Student Loan Payments are Back. Here’s How to Make Room in Your Budget
Remember when we didn’t have to pay student loan payments for more than three years and got super used to that? Well, yeah…
With student loan interest starting to accrue this September and payments becoming due again in October, our budgets are about to get a whole lot tighter..
But there is hope. You can refinance your student loans through a company like Credible — and it could save you a lot of money on your monthly payments.
With Credible, you can refinance your student loans with a longer repayment period or a lower interest rate as low as 4.85%.
This can help give you more room in your budget to afford your monthly payments and potentially lower your interest rate, which could save you thousands over time.
And if you’re worried you won’t qualify, it’s free to check online. It literally takes just two minutes, and it could save you thousands of dollars. Totally worth it.
5. Own Slices of Fortune 500 Companies, Invest in Music Royalties and Other Assets
Can you believe it? Most new millionaires didn’t inherit their wealth. Still think it’s too late for us 9-to-5ers to build real wealth and comfort?
These new money millionaires invest in different ways and some invest in different types of stocks, which can be pricey if you don’t have much money to invest in the beginning.
We found an app called Public, which is free to download, that lets you own slices of stocks, so you can invest in companies without having to pay for an entire share — that makes it easy to invest in more than one thing.*
And now you can even diversify by owning slices of the Shrek Franchise Original Music, which includes over 700 songs. You may earn royalties anytime Shrek movies are streamed, aired or used at theme parks.
It takes just minutes to download the app and open an account.
6. Earn 110% Higher Interest On Your Savings (One of the Highest Available)
Interest rates at most banks these days are downright pitiful. You’ll be lucky if you earn a quarter at the end of the year.
But an online bank called Vio has one of the highest earning rates you’ll see — 5.30% APY* (Annual Percentage Yield) on your money market savings. That’s 110% higher than the average high-yield savings account.
Not only does it pay well, it also costs nothing to open an account. You just need to transfer at least $100 to keep it open.
Security is also top notch. You can depend on bank-level encryption, FDIC insurance up to $250,000, with the highest level security you can obtain.
There’s a reason why it’s been named the best high-yield savings account by websites like Fox Business, CNet and CNBC. And it has an A+ rating from the Better Business Bureau.
If you’re ready to save smarter and earn more, open a free Vio Cornerstone Money Market Savings Account. Get started here.
*See viobank.com for more details
7. Get Paid While You’re Already Out Driving (Cash Out Today)
When we mention driving with Uber, we know the first thing that probably runs through your head: Drunken strangers piling into your car, loudly reminding you “This is the best night of my life!” — and maybe even vomiting in your back seat.
Gross. We know.
But we’ve talked to several drivers who use Uber who told us a different story. For them, Uber is the perfect way to make some extra money — on their own terms.
One driver, Nureka Chapman-Henderson, a mother of five in Humble, Texas, says she started driving with Uber because of its flexibility. As a chef and restaurant owner, she doesn’t exactly have a lot of free time.
“I turn the Uber app on when I’m running errands,” she says. That way she can make some extra money while she’s already out and driving.
Driving with Uber remains one of the most legitimate, flexible ways to make some serious extra money. And with its Instant Pay feature, you can cash out up to five times a day.
Plus, it takes just minutes to sign up — fill out a couple quick boxes and you’re done. So if you’ve ever been curious about driving with Uber, see how much you could earn in your city.
*Users must meet certain suitability standards, pursuant to the Connect Invest II Offering Circular. Users must make an investment on or before August 31, 2023. Investors will receive their $20 bonus with their first interest earnings.
Past performance does not guarantee future results or success. The material contained herein does not constitute an offer to sell or a solicitation of any offer to purchase these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
*Public: Paid endorsement for Public.com.
Fractional shares are illiquid outside of Public and not transferable. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see our Fractional Share Disclosure to learn more.
Diversification cannot ensure a profit or protect against loss in a declining market. It is a strategy used to help mitigate risk.
Brokerage services for US Listed and registered securities offered by Open To The Public Investing, member FINRA & SIPC. Open to the Public Investing does not offer Regulation A securities such as royalties.
The issuer, Public Shrek Royalties LLC, is offering Shrek Franchise Original Music in reliance on Regulation A under the Securities Act of 1933 and through the use of an Offering Statement that the Securities and Exchange Commission (‘SEC”) has qualified under Tier II of Regulation A. While the SEC staff reviews certain forms and filings for compliance with disclosure obligations, the SEC does not evaluate the merits of any offering, nor does it determine if any securities offered are “good” investments. The securities offered are speculative, illiquid, and an investor could lose the entire investment. Investors should read the relevant Offering Circular and consider the risks disclosed therein before investing. Brokerage services for Regulation A securities available on Public are offered by Dalmore Group, LLC (“Dalmore”), member of FINRA & SIPC.
In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Regulation A offerings are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment.
