If You Have More Than $1,000 in Your Checking Account, Make These 6 Moves

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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. See if You Can Get More Money From This Company

a woman logs into her bank account on her cell phone.
Tina Russell/The Penny Hoarder

Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra cash. And who doesn’t want extra cash?

Yep. A debit card called Aspiration gives you up to a 5% back every time you swipe.

Need to buy groceries? Extra cash.

Need to fill up the tank? Bam. Even more extra cash.

You were going to buy these things anyway — why not get this extra money in the process?

Enter your email address here, and link your bank account to see how much extra cash you can get with your free Aspiration account. And don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s nerd talk for “this is totally safe.”

2. Spend $5 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.

That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying 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 or Apple, for as little as $1. The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.

It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your account.**

3. Give Your Family up to $1 Million Bucks

Young rich couple travel on the new white convertible
GaudiLab/Getty Images

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Here’s the thing: You should keep a healthy amount of savings in the bank, but if you want to give your family up to $1 million, use something called term life insurance.

We suggest a company like Bestow. Maybe you’ve considered this before, but thought it was only for rich or older people. But we’re hearing that people are getting it for as little as $8 a month.

You can take advantage of Bestow until you’re 54 years old, but the sooner you take care of this, the cheaper it could be.

You don’t even need to leave your house to get a free quote from Bestow — it takes minutes. Instead of leaving your family with only $1,000 and a bucket of worries, they’ll be able to afford the life you’ve always wanted for them.

4. Ask This Company to Pay Your Credit Cards

No, like… the whole bill. All of it.

While you’re stressing out over your debt, your credit card company is getting rich off those insane interest rates. But a website called AmOne wants to help.

Here’s how it works: AmOne can match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster. Plus, no credit card payment this month.

AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.

5. Let This Site Find You a Credit Card

If you’re searching for a new credit card, you’ve probably come across a bunch of top-10 lists. Sure, those are probably ​fine​, but credit cards aren’t really a one-size-fits-all thing.

But how do you sort through hundreds of options to find the right one for you? The one that’ll give you a nice welcome bonus, cash back, travel miles or discounts? A company called Fiona will tell you.

Just fill out Fiona’s quick form, and it’ll create a list of credit cards that fit your needs. If your credit score is over 720, you’ll qualify for even more rewards.

It’s already done the research, so it’ll organize the info you need to make the best decision, including reward rates, annual fees and interest rates. Weigh your options, and pick the right card for your needs.

It takes less than a minute to answer a few questions. Then it’s ​hello​ cash back and travel miles. 

6. Buy an Apartment Building (Even If You’re Not Rich)

This year has been a rollercoaster. Historically, though, real-estate investing offers the best long-term returns. (Does the name Rockefeller ring a bell?)

That’s why we like investing with pros like DiversyFund. They’ll help you make long-term investments in apartments and office buildings all over the country  — and you don’t have to be a millionaire. You can get started with only $500.

You can see exactly which properties are included in your portfolios — like a 200-unit apartment complex in Killeen, Texas or a 59-unit building in San Diego. And you don’t have to be the landlord — DiversyFund does all the heavy lifting.

Because they know how to ride out the market’s ups and downs, they’ve historically seen annual returns of 17% to 18%, though they can’t make any promises.

As a partial owner, you make money on rent payments and when property values go up. It takes just a few minutes to sign up and own your first apartment building.

*The Penny Hoarder is a Paid Affiliate/partner of Stash. This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers.

**You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash.

*** Financial investment involves the risk of loss