8 Clever Moves When You Have $1,000 In The Bank

Keeping tons of money in your checking account means you're missing out.
Last updated Jul 26, 2021 | By FinanceBuzz Editors
$1,000 in Checking Account

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Saving up $1,000 in your checking account is a big milestone. But leaving the money in checking likely doesn't make much sense since most checking accounts pay minimal or no interest.

Once you've worked hard to amass $1,000, you want to put your money to work for you. Here are eight money moves you can make to get the most bang for your buck and get on the path towards a bright financial future.

Invest in Apple, Tesla, or Amazon for just $1

Once you’ve paid all your essential monthly bills, take a look at what’s left in your bank account and come up with an investing strategy. Even if it’s not a lot of money, don’t let that stop you – you can start investing with just $1.

Stash is a great place for beginning investors to get started. You can invest in fractional shares (partial shares) in companies that are household names like Apple, Tesla, and Amazon. A single share of some companies could cost hundreds or even thousands of dollars, but with fractional shares you can invest with as little as $1.

If you're thinking about saving for retirement, you can start investing in an IRA and enjoy the tax benefits that come with retirement accounts. Stash also offers tools and guidance to help you along the way.

As a bonus, Stash will give you $10 towards your first investment after you sign up and deposit $5 or more into your personal portfolio.1

Sign up for Stash now

Leave your family up to $1,500,000 (starting at just $10/month)

If you're young and healthy, you might not be thinking about term life insurance yet, but you should be. Life insurance companies look at a number of factors including your age, health, and weight to determine the rate you'll pay for coverage. Generally, the younger and healthier you are, the lower the rate.

Bestow can help you find term life insurance policies with up to $1.5 million in coverage starting at just $10/month. You can apply online and get a decision in just five minutes. The best part: you might not even need to take a medical exam.

If you are between 18 and 59 years old, have never had a felony, and are generally in good health, get a free quote today.

Get a quote from Bestow now

Cancel your car insurance

We’ve got bad news. You could be wasting $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there’s something much better.

This new tool from FinanceBuzz can tell you if you’re overpaying for your car insurance in just a few clicks. On average, we find around $500 a year in savings for drivers. And once you try it out, you’ll never have to look for affordable insurance again because we find you the lowest rates that other companies can’t match.

Oh, and it’s also free. And come on — you can’t tell us you don’t want to save up to $500. To find out if you’re losing up to $500 or more a year, just enter your zip code here, answer a few questions and see if you’re overpaying. It takes less than 2 minutes.

See if you’re overpaying

Stop overpaying when you shop online

Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.

Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, they will automatically add the best coupon code in their extensive database to help you save cash. And before you check out at favorite stores like Amazon, Target, Home Depot, and Best Buy, Capital One Shopping will notify you with a friendly pop-up if the item you're buying is available cheaper somewhere else.

Capital One Shopping is free to use and will never show you ads. Add it today and stop overpaying!2

Get Capital One Shopping now

Crush your credit card debt with a historically low interest loan

If you’re looking for a chunk of change and earn more than $20,000/year, a personal loan could be a good option.

Our partner Payoff will match you with a loan to pay off your credit card faster. In only 2 minutes, you could get a loan up to 40k with rates as low as 5.99%.

If you have a 640 or higher credit score why not see if you qualify? It will NOT affect your credit score.

Get a loan offer here 

See if you can raise your credit scores in real time

Your credit scores affect whether you can get approved for a loan, a credit card, or even a new job. Usually it can take weeks or months to improve your credit scores, but there's an innovative new feature that could help you raise your FICO® Scores3 instantly.

Experian Boost™ can help you get credit for making on-time payments for your phone and utility bills. The process takes just minutes and if qualifying payments are identified, you can include this positive information in your Experian credit file. (Don't worry: If you have any negative marks, those won't count against you.)

Since launching, Experian Boost has collectively increased FICO® Scores across America by over 10 million points. It's 100% free and new potential credit scores take effect immediately.

Sign up for Experian Boost now

Bonus: Build wealth better than the 1%

The 1% doesn’t deserve all the riches. So why do we keep letting it happen?

Worthy is an email newsletter that teaches you how to invest smarter, earn more money, and live the life you want. It’s for the rebellious, the radical, the 99%er who fights like hell to earn their keep. Easily consumed in less than 5 minutes a day, you’ll get the latest financial resources, news, and money trends that could impact your wallet for years to come.

Join Worthy today (It’s free)

Stash Benefits

  • Get $10 to make your first investment
  • Invest in stocks, bonds, and ETFs
  • Fractional shares available
  • Start investing with just $1