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 $1
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 just $1.
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 more1. Normally a single share of these companies could cost hundreds or even thousands of dollars, but you only need $1 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.4
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.
Save up to $500 on car insurance
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.
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!5
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 Figure2 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 days6 — get the money and get on with your life.
Checking your pre-qualified offers from Figure won’t impact your credit score,3 but you do need a credit score of at least 620 to qualify.
Get paid $100 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 $100 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 $100!7
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.8
Not to mention unlimited fee-free withdrawals at over 55,000 ATMs and best of all there’s no minimum credit score!
Bonus: Refinance your mortgage while rates are at historic lows
With interest rates at historic lows, it's a fantastic time to refinance. Refinancing your mortgage can not only help you save money, it can also help you build equity in your home faster and lower your monthly payments.
Figure offers one of the fastest and easiest ways to refinance your mortgage. You can lock in a lower rate in just minutes. The application can be completed online — there's no need to leave your home.
Figure also offers the option for a cash-out refinance (up to $500,000!) if you need money now. You could potentially replace your existing mortgage with a new one for an amount greater than what you owe then use the cash difference for home improvements, to pay off high-interest debt, or whatever you need cash for today.
Getting pre-qualified won't affect your credit score. If your credit score is at least 620 (700 for jumbo loans), see how much refinancing could save you now.