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 to take? What are some specific things you can do to elevate your finances?
We’ve got some ideas for you:
1. Cancel Your Car Insurance
You might not even realize it, but your car insurance company is probably overcharging you. In fact, they’re kind of counting on you not noticing. Luckily, this problem is easy to fix.
Don’t waste your time browsing insurance sites for a better deal. A company called Insurify shows you all your options at once — people who do this save up to $996 per year.
If you tell them a bit about yourself and your vehicle, they’ll send you personalized quotes so you can compare them and find the best one for you.
Tired of overpaying for car insurance? It takes just five minutes to compare your options with Insurify and see how much you could save on car insurance.
2. You Can Become a Real Estate Investor for as Little as $10
Take a look at some of the world’s wealthiest people. What do they have in common? Many invest in large private real estate deals. And here’s the thing: There’s no reason you can’t, too — for as little as $10.
An investment called the Fundrise Flagship Fund lets you get started in the world of real estate by giving you access to a low-cost, diversified portfolio of private real estate. The best part? You don’t have to be the landlord. The Flagship Fund does all the heavy lifting.
With an initial investment as low as $10, your money will be invested in the Fund, which already owns more than $1 billion worth of real estate around the country, from apartment complexes to the thriving housing rental market to larger last-mile e-commerce logistics centers.
Want to invest more? Many investors choose to invest $1,000 or more. This is a Fund that can fit any type of investor’s needs. Once invested, you can track your performance from your phone and watch as properties are acquired, improved, and operated. As properties generate cash flow, you could earn money through quarterly dividend payments. And over time, you could earn money off the potential appreciation of the properties.
So if you want to get started in the world of real-estate investing, it takes just a few minutes to sign up and create an account with the Fundrise Flagship Fund.
This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund’s prospectus. Read them carefully before investing.
3. Let This Savings Account Earn You 4.39% APY*
It’s almost like your bank should pay you for keeping your money in your account, huh? I mean, let’s be real: Most savings accounts offer less than 1% interest… even when you’ve been a customer for years.
Good news! We found a savings account that actually rewards you for your loyalty.
When you sign up for a Valley Bank High-Yield Savings Account through Raisin, you can earn up to 4.39% APY* on your total account balance — that’s 10x the national average. It only takes $1 to open an account.
Want to see how much your money can earn for you? Get started with a Valley Bank High-Yield Savings Account through Raisin today and start earning a much higher return on your money.
4. This Balance Transfer Card Offers 0% APR For 18 Months
Aiming to ditch high-interest payments and score cash back on everything you buy? Who isn’t, right?
This card makes a balance transfer easy and affordable, plus you can save money on interest while you earn rewards. With a lengthy 0% intro APR on balance transfers until 2026, you’ll get some well-deserved breathing room to pay down balances interest-free. Plus, a $200 cash bonus is waiting for you, and you’ll enjoy 2% cash back on everything you buy — helping you make the most of your everyday spending.
Here’s what makes this card a win-win:
- $200 cash back bonus
- Unlimited 2% cash back
- $0 annual fee
- 0% APR on balance transfers for 18 months
5. Get to Work on Your Credit Score
Are you ready for a big purchase but can’t seem to get your credit sorted? Do you know if your payment history is accurate? How about your account balances? Not knowing is probably costing you. If you haven’t looked into identifying and fixing issues on your credit report, you could be literally paying for someone else’s mistakes.
Lexington Law Firm can review your credit report with you and begin the fight if any issues are found. Their attorneys and paralegals can send communications on your behalf to protect you against shady credit reporting processes.
But don’t take our word for it. Carlos R. from Indiana said working with Lexington Law was a “great and painless experience.” Isn’t it time to ask Lexington Law Firm to review your credit report and fight for you?
Find out what’s going on with your credit with a free credit assessment today.
Get the most out of your spending. Learn more about this balance transfer card today.
6. Earn Up to 4.50% APY on Your Savings
Most savings accounts are just… fine. They hold your money, but they don’t exactly do anything for you. LendingClub’s LevelUp Savings Account changes that.
You can earn 4.50% APY₁ just by depositing at least $250 each month. And even if you don’t quite get to $250, you’ll still earn 3.50% APY₁ — which is way better than what most banks offer.
There’s no monthly fees, no minimum balance requirements, and FDIC insurance up to $250,000₂. So your money stays safe while it grows. Plus, opening an account quickly means you can start taking advantage of these rates and growing your money almost immediately.
Why let your money sit there doing nothing? Check out LendingClub’s LevelUp Savings today and start making the most of every dollar.
7. Get $25 When You Invest Just $5 With Stash
We all have bills to pay and things to buy. Whether it’s groceries, gas, or your favorite streaming service, wouldn’t it be nice to turn everyday spending into investments?
With Stash, you can. The Stash Stock-Back® Card1 automatically rewards you with stock in the companies you shop with — like Netflix, Amazon, Costco, and McDonald’s. And when you shop at local or privately owned businesses, you’ll earn stock in a default investment of your choice.
Here’s the kicker: Right now, The Penny Hoarder users get $25 in cash when they make their first $5 investment. That’s easy money to jumpstart your portfolio.
Stash has also introduced new tools to make investing even easier. With features like Auto-Stash, you can set aside as little as $1 per day to grow your investments automatically. Plus, Stash Learn gives you access to helpful tips on trending topics like AI-driven stocks and Swift Mania (yes, you can invest in that!).
It only takes a few minutes to sign up, make your first $5 investment, and claim your $25 reward. Start building your future with Stash today.
8. Can You Protect Your Family for Less Than $1 a Day? Yep
Look, no one wants to think about life insurance. But if you’ve been putting it off because it feels overwhelming or expensive, Ladder is here to prove you wrong in the best way possible.
You can apply for term life insurance in just five minutes — seriously. No medical exams*, no messy paperwork, no stress. It’s completely online, so you can handle it from pretty much anywhere that works for you.
The best part? Ladder makes it super flexible. You can tweak your coverage anytime, whether you’re saving money by scaling back or upping your protection when life changes**. And since they use bank-level security, you don’t have to worry about your personal info.
So, what’s stopping you? It’s free to get a price estimate, and Ladder even has an insurance calculator to help you figure out exactly how much coverage you need. Get covered through Ladder today — your future self will thank you.
1. LevelUp Rate of 4.50% Annual Percentage Yield (“APY”) accurate as of 2/5/2025. Standard Rate of 3.50% APY accurate as of 2/5/2025. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank.
Level Up Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate of 3.50% APY. Interest payments, account bonuses, account credits and reversals or refunds from the bank are not considered deposits for rate evaluation purposes. All LevelUp Savings accounts earn the LevelUp Rate at account opening and continue to earn the then current LevelUp Rate until the First Evaluation Period, to provide an opportunity to set up deposits. While accounts will not move from the LevelUp Rate prior to the First Evaluation Period, the LevelUp Rate is variable and subject to change at any time, including prior to the First Evaluation Period.
An Evaluation Period is a statement cycle. The First Evaluation Period will be the third statement cycle after you open your account, with any rate change becoming effective the next statement cycle. For example, if you open in August, the first Evaluation Period would be October with any rate change effective in November. Any rate changes will take place at the end of the first business day of the month and will be based on deposits in the previous statement cycle. APY accurate as of 2/5/2025. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank. Fees may reduce earnings. $0 minimum opening deposit. Additional information can be found in the Product Terms & Conditions and FAQs.
2. FDIC-insured up to $250,000 per depositor for each ownership category.
Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.
Please note, Real-Time Payments (RTP) transfers may be limited by destination institutions,daily transaction caps, and by participating entities such as Wells Fargo and the RTP® Network. New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer. Wealthfront doesn’t charge for transfers, but receiving institutions may impose an RTP fee.
The Penny Hoarder receives compensation when a reader clicks on the referral link that redirects them to Wealthfront, which creates a conflict of interest. Penny Hoarder’s opinions in this article are their own and are not tied directly to such compensation. The Penny Hoarder and Wealthfront Brokerage, LLC are not associated with one another and have no formal relationship outside of this arrangement.
Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures.
Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value. All product and company names are trademarks ™ or registered ® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
1 Stash Banking services provided by Stride Bank, N.A., Member FDIC. The Stash Stock-Back® Debit Mastercard® is issued by Stride Bank pursuant to license from Mastercard International. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Any earned stock rewards will be held in your Stash Invest account. Investment products and services provided by Stash Investments LLC and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. All rewards earned through use of the Stash Stock-Back® Debit Mastercard® will be fulfilled by Stash Investments LLC and are subject to Terms and Conditions. You will bear the standard fees and expenses reflected in the pricing of the investments that you earn, plus fees for various ancillary services charged by Stash. In order to earn stock in the program, the Stash Stock-Back® Debit Mastercard must be used to make a qualifying purchase. Stock rewards that are paid to participating customers via the Stash Stock Back program, are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.
*While medical exams are not required for coverage up to $3M, certain health information is required as part of the application to determine eligibility for coverage.
**Coverage can be decreased immediately. Applications to add coverage are subject to underwriting approval.
Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers – for further details see ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy. Each insurer has financial responsibility for its own products. 250109-4144322
* 4.39% annual percentage yield (APY) is accurate as of 1/10/2025 and subject to change at the Bank’s discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. (2) Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of 1/10/2025. See the FDIC website for more information.
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