5 Easy Moves That’ll Quickly Give You a Bigger Bank Account

Want a bigger bank account? We’ve got some money moves that’ll make a big impact quickly…

1. Get Your Paycheck Early

Counting the days until payday? Us too.

If you’re tired of waiting, consider switching to a bank that pays you early.

Unlike most financial institutions, Chime doesn’t wait until your pay date to give you access to your money. As soon as it receives notification of a direct deposit from your employer, it immediately posts those funds to your account which means that most people can get paid up to two days early!

Having your paycheck a couple of days early could be the difference between having to borrow money from family — or worse yet, taking a payday loan.

2. Knock Up To $715/Year Off Your Car Insurance in Minutes

When was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy. 

If it’s been more than six months since your last car insurance quote, you should look again. 

And if you look through a digital marketplace called SmartFinancial, you could be getting rates as low as $22 a month — and saving yourself more than $700 a year. 

It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side. Yep — in just one minute you could save yourself $715 this year. That’s some major cash back in your pocket.

So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.

3. Lower Your Credit Card Bills

Did you know that around 20% of consumers have an error on their credit report that is likely bringing down their score? And those poor scores can hinder every part of your financial wellness.

A lower credit score can cause you to pay more in credit card interest each and every month. But that’s not the only thing — you’ll have to authorize a credit check when you want to move into a new apartment, rent a car with a debit card or buy a new phone.

That’s why we always suggest starting with a peek at your credit score — specifically from somewhere that can let you know if there’s anything to be concerned about.

Even better if it’s free.

The credit report card from Credit Sesame does all that, and it’s free. The report lays out all your unpaid debts, any delinquencies. Plus, they tell you exactly what steps to take to quickly improve your credit score.

4. Invest Your Spare Change — and Get a $5 Bonus

If you’re like most of us and wish your money would just take care of itself, consider starting an investment account through Acorns.

You can start small — with $5 — and stack up change over time with its “round-up” feature. That means if you spend $10.23 at the grocery store, 77 cents gets dropped into your Acorns account.

Then, the app does the whole investing thing for you.

The idea is you won’t miss the digital pocket change, and the automatic savings stack up faster than you’d think. And the sooner you start, the more you could potentially make. For example, Penny Hoarder Dana Sitar was able to save at a rate that would let her stash $420 away per year.

At that rate, you could set aside $1,000 in about two and a half years — without trying.

But the beauty is you can set your own pace with Acorns’ features, so if you want — and can afford — to invest $1,000 faster, go for it.

The app is $1 a month for balances under $5,000, and you’ll get a $5 bonus when you sign up.

5. Invest in Real Estate (Even If You’re Not Wealthy)

Want to try real-estate investing without playing landlord? We found a company that helps you do just that.

Oh, and you don’t have to have hundreds of thousands of dollars, either. You can get started with a minimum investment of just $500. A company called Fundrise does all the heavy lifting for you.

Through the Fundrise Starter Portfolio, your money will be split into two portfolios that support private real estate around the United States.

This isn’t an obscure investment, though. You can see exactly which properties are included in your portfolios — like a set of townhomes in Snoqualmie, Washington, or an apartment building in Charlotte, North Carolina.

You can earn money through quarterly dividend payments and potential appreciation in the value of your shares, just like a stock. Cash flow typically comes from interest payments and property income (e.g. rent).

(But remember: Investments come with risk. While Fundrise has paid distributions every quarter since at least Q2 2016, dividend and principal payments are never guaranteed.)

You’ll pay a 0.85% annual asset management fee and a 0.15% annual investment advisory fee.