Making more than $5,000 a month 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, 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 paid all your essential monthly bills, you may want to take a look at what's left in your bank account and come up with an investing strategy. Even if it's not a lot of money, you don't have to 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 more6. 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 $5 to invest after you deposit $5 or more into your personal portfolio.2 Want even more tools and guidance? If you choose the Stash+ plan3 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!7
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.
Budget better and trim up to $720 from your bills
Ever look at your bank account and wonder where that $5k you made this month went? Poof, it's gone and you're not exactly sure where you spent it. 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.
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.