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 famous art (even if you’re not a millionaire)
With the stock market as volatile as ever, Bloomberg asked investment experts where they'd invest $100,000 right now. They favored alternative investments, which included art.
After all, the ultra-wealthy, from the Rockefellers to Jeff Bezos have collected art.
And for good reasons:
- Blue-chip art prices have appreciated 13.6% annualized (1995-2021)
- Some billionaire collectors allocate 10–30% of their portfolios to art
- Low correlation to stocks historically, according to Citi
Thanks to Masterworks, the fintech unicorn from NYC, you can invest in art without needing millions. By offering shares of investments in works by artists like Warhol, Basquiat, and Picasso, everyone can be a bona fide art investor.
In fact, their $7.4M Banksy offering "Exit Through The Gift Shop" sold out in less than 3 hours.
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.
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, it'll scour the internet for coupon codes 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 won't show you ads. Add it today and stop overpaying!1