5 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 Sept. 6, 2023 | By FinanceBuzz Editors

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 three money moves you can make to get the most bang for your buck and get on the path towards a bright financial future.

Prepare for market volatility by diversifying with gold

Stock market volatility can be financially damaging, especially as you near retirement. You could move your investments into a savings account, but have you seen interest rates lately? Another option to consider — diversify with gold.

Gold values are inversely correlated with the stock market and the dollar. When one goes down, the other usually goes up. If you want to protect your retirement funds, having diversified investments may be able to help you weather market swings.

Gold Alliance is a reputable precious metals dealer that specializes in precious metals IRAs. They make it simple to transfer funds from your current retirement account (like a 401(k) or IRA) into a precious metal IRA — with no taxes or penalties.

Gold Alliance offers a free gold information kit to help you learn more about why gold and silver could be a smart choice for diversifying your portfolio, and how the process works.

Diversify your portfolio with gold

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. We match drivers with companies that report saving drivers up to $500 or more per year when they save! Each driver’s savings will vary by driving history and how many discounts you’re eligible for. 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

Pay no interest on balance transfers until June 2025

Imagine getting 21 months with 0% interest on a balance transfer. Sounds great — right? You could dramatically change your financial picture with this industry-leading low-interest card - the Citi^® Diamond Preferred^® Card (Rates and fees).

If you want to kick high-interest credit card debt to the curb, this is one of the leading get-out-of-debt cards available. Transfer your high interest debt to this card with a 0% intro APR on balance transfers for 21 months. 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 12 months on purchases. After the intro period for purchases and balance transfers, the APR is 18.24% - 28.99% (Variable).

The best part? There's no annual fee.

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Get out of $10,000 or more in debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief is designed specifically to help you get out of credit card debt faster, without having to make drastic life changes. With National Debt Relief, you could pay off your credit card debt (with potentially way less interest) in one simple monthly payment.

How to get National Debt Relief to pay off your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can immediately assist you in paying off your debt, but only if you schedule the assessment.

Try it

Get up to $210 in stock when you use AI to develop your investing strategy

When it comes to investing, you may feel like you have to either pay a professional to handle your portfolio or risk navigating the market on your own. But what if there was a groundbreaking solution that combined expert guidance with the cost-effectiveness of self-management?

Meet Magnifi, the world’s first investment assistant that provides a conversational AI experience that can help you supercharge your investing decisions. Just type in a question like “How can I invest $1,000?” or “Help me start an emergency fund” and get personalized recommendations, plus on-demand analysis.

For $14/mo, you’ll get instant access to current and past market trends analyzed with pro-level data. Plus, there are no minimums for investments and commission-free trades. You can even connect your account to other investing apps like Robinhood and Stash to streamline your investing process.

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