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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 Aug. 1, 2022 | By FinanceBuzz Editors
$1,000 in Checking Account

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.

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

Invest in the beverage with a historical 10.6% annual return

Wine, to be exact. Wine has had a 10.6% historical annual return over the last 15 years. Pretty good for an alternative asset, especially if you’re diversifying.

Vinovest makes wine investing simple, even if you’re not a wine expert. They combine master sommelier knowledge with AI-driven algorithms to choose potentially appreciating wines to invest in. Basically, they have a good idea of what wines could perform well over time, with data to back it up.

To keep your wine safe, Vinovest is insured with an FDIC equivalent for wine, protecting each bottle against breakage and loss. Their state-of-the-art, climate-controlled storage facilities help keep your wines safe. And if you ever want to drink the bottles you invested in, you can. You can always buy more, sell for a potential profit, or enjoy them whenever you want.

Build your wine portfolio

Pay No Interest Until September 2023

Imagine getting 15 billing cycles with 0% interest on a balance transfer or a big purchase.  You could dramatically change your financial picture with this industry-leading low-interest card - the Bank of America®️ Customized Cash Rewards credit card.

If you want to kick high-interest credit card debt to the curb, this is one of the best get-out-of-debt cards available. Transfer your high interest debt to this card with a 0% intro APR for 15 billing cycles for any qualifying balance transfers made in the first 60 days on balance transfers (transfer fee $10 or 3%, whichever is greater). Your payments can go directly to paying down your balance without incurring a pile of additional charges. That could save you hundreds of dollars in interest!

It doesn't just stop with balance transfers though. Cardholders also get a generous intro APR of 0% for 15 billing cycles on purchases. After the intro period for purchases and balance transfers, then APR is 16.24% - 26.24% variable.

Plus, new cardholders can get a one-time cash bonusearn a $200 online cash rewards bonus after spending $1,000 in the first 90 days of account opening. Use your card just for essentials at the gas station or grocery stores, and you can easily meet the spending requirement.

Add to this the fact that this card offers a 3% cash back on the category of your choice; 2% cash back at grocery stores and wholesale clubs (on the first $2,500 spent each quarter in the 2% and 3% categories combined); and 1% cash back on all other purchases, you've also got one of the best cash back cards on the market - customized to the way you spend! 

The best part? There's no annual fee.

Click here to Apply 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)

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