If You Have More Than $1,000 in Your Checking Account, Make These 4 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. Leave Your Family up to $1 Million in Life Insurance (Rates Start at $8/Month)
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.
Now that you’ve good a cushion in your checking account, it’s a good time to start planning for the future by securing a life insurance policy.
You might be thinking: I don’t have the time or money for that. But your application shouldn’t take more than about five minutes — and you could leave your family up to $1 million in life insurance with a company called Bestow.
Policies start at just $8 a month, and you can change or cancel your plan at any time. Plus, the security of knowing your family is taken care of is priceless.
If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam, pushy sales calls or even getting up from the couch, get a free quote from Bestow.
2. Ask This Website to Pay Your Credit Card Bill This Month
You’ve finally got some money in the bank, but do you still have some lingering debt? We found a company that will pay your credit card bill this month. No, like… the whole bill.
Your credit card is getting rich by ripping you off with insane rates, but a company called Fiona could help you pay them off tomorrow.
Here’s how it works: Fiona will 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.
Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
You’ve finally found some financial footing. Don’t let your credit card company take it away.
3. Send a Text to Add an Extra $70 to Your Savings This Week
Now that you’ve got some money in your checking account, it’s time to focus on your savings. Easier said than done, right?
But a free app called Dobot from Fifth Third Bank makes it easy. When you connect Dobot to your checking account, it allows you to save money as easily as sending a text.
Just text Dobot, “Save $10,” and the app will take care of the transfer for you. We suggest doing this every day for the rest of the week.
It takes just a few minutes to sign up. Plus, by the end of this week, you’ll have a cool extra $70 in your savings.
4. Download This App to Get Up to $500 in Free Stock
You’ve got some money in you checking account, but you feel like you still don’t have enough money to start investing. But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.
Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.
Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.
What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.