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 Oct 27, 2020 | 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 more7. 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 $10 to invest after you deposit $5 or more into your personal portfolio.1 Want even more tools and guidance? If you choose the Stash+ plan2 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!8

Sign up for Stash now

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.

Click here to get started

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!3

Get Capital One Shopping now

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!5

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.6

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

Stash Benefits

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

Author Details

Christy Rakoczy Christy Rakoczy has a Juris Doctorate from UCLA Law School with a focus in Business Law, and a Certificate in Business Marketing with an English Degree from The University of Rochester. As a full-time personal finance writer, she writes about all things money-related but her special areas of focus are credit cards, personal loans, student loans, mortgages, smart debt payoff strategies, and retirement and Social Security. Her work has been featured by USA Today, MSN Money, CNN Money and more, and you can learn more at her LinkedIn profile.