If You Have More Than $1,000 in Your Checking Account, Make These 8 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 Multi-Family Real-Estate (Even if You’re Not Filthy Rich)
The uber wealthy 1% have access to exclusive, lucrative real estate investments that seem totally out of reach to the rest of us.
But not anymore. A company called CalTier lets you invest in commercial real estate — specifically, multi-family apartment complexes across the country — for as little as $500.
Traditionally, you’d need a six-figure income or a million-dollar net worth to invest like this.
Instead, CalTier lets you invest like the big wigs in the real estate world, even if you’re not rich. Investments in multi-family housing have outperformed the S&P 500 for the last 20 years* — and it’s expected to grow another 33% this year alone.
CalTier also gives you a 30 day money-back guarantee. And if you have any questions along the way, you can talk to a real human to get them answered.
Ready to join the ranks of wealthy and institutional real-estate investors? It’s easy to open a free account and get started here.
2. Grow Your Money 10x Faster — Without Risking Any of It
You’ve been with the same bank for years, and how do they repay your loyalty? With a measly 65 cents in earned interest every year.
And you’re not alone. The national average interest rate for savings accounts is just 0.40%.
But there’s actually a way to grow your money 17 times faster — completely risk free.
When you sign up for a Capital One 360 Performance Savings Account, you’ll earn 4.00% APY on your account balance. Just to be clear, that’s almost 10 times the national average on a regular savings account.
There’s no minimum deposit to open and keep your account. And, you’ll never pay any monthly or maintenance fees, either.
And there’s no need to worry about accessing your savings — you can take your money out at any time with no penalties. Plus, all your money is FDIC insured, which basically just means it’s super safe.
It only takes a few minutes to sign up for your Capital One savings account. All you really need to do after that is sit back and watch your savings grow with 10 times the average interest.
3. This Website Can Help You Wipe Out Your Credit Card Debt
If you’re carrying around credit card debt, you know how hopeless it can feel. The interest rates alone can make it feel like you’ll never escape.
Meanwhile, your credit card company could care less. They’re getting rich off those sky-high rates, after all.
Luckily, The Rate Chopper could help you start to get rid of all that debt — as soon as a few days from now. Here’s how: The Rate Chopper could match you with a lender and a new loan at a lower interest rate you can use to pay off all your credit card balances. Now you’ll just have one bill to focus on, and with the lower rate, you’ll likely be able to pay off your debt that much faster.
If you have a credit score above 600 and you need to borrow up to $50,000, The Rate Chopper can help you find a loan with rates as low as 5.99% APR.* That’s way better than the 20% or more your credit card is charging you.
It only takes a few minutes to complete the form to get your personalized results — and checking won’t affect your credit score. Plus, The Rate Chopper keeps your information encrypted and secure.
And if you’re worried you won’t qualify, it’s free to check and see if you match with a lender. It takes just a couple minutes, and it could save you thousands of dollars. Totally worth it.
4. Let This App Improve Your Credit Score — Automatically
A lot of us are being held back by our less-than-stellar credit scores. That pesky little number can make life so difficult when you’re looking to take out a loan, get a credit card or finance a car.
A company called Cheese can help you improve your credit score — and it’s basically automatic. Cheese gives you a bank account that gets reported as a loan, and the money you stash in this account gets treated as loan payments. You can save any amount, starting at $24 a month, and it’s still your money in the end.
Consistency is the key. You can bail out and withdraw your money if you ever feel like you just can’t afford a deposit this month, because starting over is better than missing a month.
And that’s the game. Ideally, you want to do this for up to two years to see the best results. But you’ll likely start to see positive results soon after Cheese starts reporting your on-time payments to the credit bureaus.
Ready to prove the credit card companies, mortgage lenders and auto dealers wrong? Download the Cheese app and see how much you can build your credit. Some Cheese users have reported a 15 to 50 points increase in their credit score within just a few months.
5. Spend $1 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.
But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
But with an app called Stash, it doesn’t have to be. It lets you be a part of something that’s normally exclusive to the richest of the rich — on Stash you can buy pieces of other companies for as little as $1.
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google, Apple and more for as little as $1. The best part? If these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.1
It takes two minutes to sign up, and it’s totally secure. With Stash, all your investments are protected by the Securities Investor Protection Corporation (SIPC) — that’s industry talk for, “Your money’s safe.”2
Plus, when you use the link above, Stash will give you a $5 sign-up bonus once you deposit $5 into your account.*
6. Invest in Famous Art (Even if You’re Not a Millionaire)
Here’s the deal: If you’re not investing in contemporary art, you might be missing out on an asset whose prices have outpaced the S&P by 164% from 1995 to 2020. (FYI, the S&P tracks 500 of the largest companies in the stock market)
You’re probably thinking you need at least a few more zeros in your checking account before you can even start thinking about investing in Warhols and Monets, right?
But a company called Masterworks lets normal people like us invest in multimillion-dollar works of art — something typically only available to the super rich.
You don’t need hundreds of thousands of dollars to buy a masterpiece outright; with Masterworks, you can invest in multimillion dollar paintings with only $1,000.
It takes less than a minute to sign up for a free account.
Investing in contemporary art is a long-term strategy, so patience pays off here — literally. But once your piece of art sells, you get your share of the potential profits.
7. Don’t Leave Money on the Table: Let The Experts At This Company Find and Roll Over Your Old 401(k) — For Free
Did you know there are more than 24 million abandoned 401(k)s in the U.S.? Even more shocking — an old or forgotten 401(k) could cost someone up to $700,000 in foregone retirement savings.
Imagine losing hundreds of thousands of dollars just because you didn’t roll over a 401(k).
The truth is, most of us don’t really know the best options for our 401(k)s when switching jobs. One of the smartest options is a tax-free transfer from your old 401(k) to an IRA — but the rollover process can be frustrating and time-consuming.
That’s where a free platform called Capitalize can help. It will find your old 401(k)s, help you compare new IRAs from leading financial institutions, and make sure your old account is transferred correctly to your new IRA. You don’t have to do any of the heavy lifting — they’ll handle the transfer for you.
It only takes five minutes to fill out a form on its site, and then Capitalize financial experts can take it from there — they’ve successfully handled thousands of rollovers amounting to hundreds of millions of dollars.
Regardless of whether you have a traditional or Roth 401(k) plan, Capitalize will make sure your money is transferred quickly and accurately. You can also be sure your data is safe with bank-level encryption — they won’t sell your data, either.
Don’t leave your retirement savings in the dust. Get started here to let the experts at Capitalize help you find the best rollover option for your 401(k) — for free.
8. 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.
*CalTier: An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement, which only means that the company may make sales of the securities described by the offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement here:
You should read the offering circular before making any investment.
There is no guarantee of success, and there is a potential for loss of your investment.
*Approval and loan terms vary based on applicant qualifications. Not all applicants will qualify for the full amount or lowest available rates.
NerdWallet Compare, Inc. (dba The Rate Chopper) NMLS ID# 1617539
CA Fin. Lender loans arranged per DFPI, Fin. Lenders Lic #60DBO-74812
1Not all stocks pay out dividends, and there is no guarantee that dividends will be paid each year.
2To note, SIPC coverage does not insure against the potential loss of market value.
For Securities priced over $1,000, purchase of fractional shares starts at $0.05.
*Offer is subject to Promotion Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account in good standing, link a funding account to your Invest account AND deposit $5.00 into your Invest account.
Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures.
Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. This material has been distributed for informational and educational purposes only, and is not intended as investment, legal, accounting, or tax advice. Investing involves risk.