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 Apr 15, 2021 | By Christy Rakoczy
$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, Amazon, and other companies for just $5 

Once you've built up your savings, one important next step may be to come up with an investing strategy. Even if you decide not to invest a lot of money, don't let that stop you — you can start investing with $5 or less.

Stash was built to help beginner investors get started. You can buy fractional shares (partial shares) in companies that are household names like Apple, Google, Amazon, and more11. Normally a single share of these companies could cost hundreds or even thousands of dollars, but you only need as little as $5 to get started with Stash.

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 $5 to invest after you deposit $5 or more into your personal portfolio.5 Want even more tools and guidance? If you choose the Stash+ plan6 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!12

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.

FinanceBuzz 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're 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 now

Save up to $500 on car insurance in Virginia

Car insurance can be expensive, so you want to make sure you're not overpaying on your current premium.

FinanceBuzz has made it easy to search and compare quotes. Think of it as Kayak, but for car insurance.

We can help match you to insurance carriers and regional agencies to help you save on your car insurance. FinanceBuzz can save drivers up to $500 per year compared to their current insurance premiums.

It takes less than 5 minutes to fill out the form and you'll receive a list of matches that show you online, email, and potentially phone quotes.

Click here to get started

Get paid $150 to ditch your debit card

Make sure you're keeping that $1,000 somewhere that will reward you for your money. If you're using a traditional bank account, you might not only be missing out on rewards, you're probably paying unnecessary fees.

With an Aspiration Spend & Save account, you’ll get $150 for opening a new debit card - just open an account, use your Aspiration debit card to make at least $1,000 in purchases within 60 days and you’ll get $150!1

You’ll also be eligible for up to 10% cash back on purchases and up to 1.00% APY on your balance - that's 14x the national average interest rate.2

Not to mention unlimited fee-free withdrawals at over 55,000 ATMs and best of all there’s no minimum credit score!

Sign up with Aspiration

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!7

Get Capital One Shopping now

Budget better and trim up to $720 from your bills

Even if you're disciplined about saving, you've probably had months where you looked at your bank balance and wondered where your paycheck went. A budgeting app like Truebill can help you take control of your money — spend intentionally on the things you value and stop throwing money away on unimportant things.

Once you have a complete picture of your finances, it's easy to see ways to save. And Truebill can help make those potential savings a reality. Their expert negotiators can call the cable company and phone company to help lower your bills. They'll also help you cancel unwanted subscriptions and put that money back in your bank account where it belongs.

Truebill has already helped save its members over $50,000,000 on their bills without much time and effort.

Download Truebill now

Protect your money and get $1 million identity theft insurance

Identity theft can turn your life upside down. Your money could be stolen, your credit score could tank by hundreds of points, and worst of all… you could be liable for damages, even if you’re not at fault. It can be really bad.

Identity Guard can help protect your money in case your identity is ever stolen online. They keep you updated 24/7, constantly monitoring in the background while you go about your day with total peace of mind. Using state-of-the-art artificial intelligence, they’ll alert you when potentially suspicious activity is detected, helping you take action to protect your money.

With Identity Guard, your money, identity, and credit score are kept safe and secure. Sign up today and get access to real-time monitoring and $1 million in identity theft insurance8 for as little as $6.67 per month.

Try Identity Guard today

Turn a photo of your grocery receipt into an Amazon gift card

Even if you're on a tight budget, what’s one expense that won't go away? Your grocery bill.

Now you can get rewarded for your grocery bills with an app that lets you earn gift cards from pictures of your grocery receipts.

All you need is your phone and the Fetch app. After you're done shopping, just snap a photo of your receipt. Your photo earns points. Then you can redeem those points for gift cards at popular stores like Amazon, Target, and Home Depot.

BONUS: You'll get 2,000 points bonus when you enter this referral code: BUZZ before you scan your first receipt.

Sign up for Fetch today

Get the cash you need without leaving home

If you need quick access to cash, a home equity line of credit (HELOC) from Figure is one of the simplest and fastest options available.

You can get a HELOC from Figure9 without ever leaving home. Whether you'll use the money for debt consolidation, a home improvement project, or a major purchase, you could have your money in days, not months.

Their online application is fast and easy to complete. There's no in-person appraisal needed and they even have online video notaries available in some locations. You could receive funding in just 5 days3 — get the money and get on with your life.

Checking your pre-qualified offers from Figure won’t impact your credit score,10 but you do need a credit score of at least 620 to qualify.

Get a quote now

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® Scores4 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 $5 to make your first investment
  • Invest in stocks, bonds, and ETFs
  • Fractional shares available
  • Start investing with just $1