If You Have More Than $1,000 in Your Checking Account, Make These 4 Moves

You’ve done it. You’ve built up a little cushion in your bank account — $1,000! It feels good, right? Those days of checking your account balance in a panic are behind you.

Congrats! You’re on the right path. Now it’s time to think about some longer-term goals. What do you want to accomplish next with your money? Do you need to save more? Do you want to buy a home someday? Invest?

What’s the next step you should take? What are some specific things you can do to take your finances to the next level?

We’ve got some ideas for you:

1. Leave Your Family up to $1.5 Million in Life Insurance (Rates Start at $20/Month)

Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.

Now that you’ve good a cushion in your checking account, it’s a good time to start planning for the future by securing a life insurance policy.

You might be thinking: I don’t have the time or money for that. But your application shouldn’t take more than about five minutes — and you could leave your family up to $1.5 million in life insurance with a company called Bestow.

Policies start at around $20 a month, and you can change or cancel your plan at any time.* Plus, the security of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam, pushy sales calls or even getting up from the couch, get a free quote from Bestow.

2. Ask This Website to Help Pay Your Credit Card Bill This Month

Every month, you make payments toward your credit card debt. But you never seem to make a dent. It’s because of those sky-high interest rates — as much as 24% interest. It can feel impossible to get ahead.

But MoneyLion could help you find offers to cut your interest rate by 70% as soon as tomorrow.

Here’s how it works: MoneyLion can match you with new loan offers at a lower interest rate — as low as 5.20% APR*. That’s 70%* lower than the average credit card interest rate. And it’s the key to finally getting ahead.

You can use this new loan to pay off all your existing credit card debt, then you’ll be left with one (cheaper) monthly payment that will help you get out of debt faster.

If you have a credit score of at least 620, you could get up to $100,000. With no collateral. And terms go up to 144 months.

Worried you won’t qualify? Take two minutes to check online and see if you could cut your credit card interest rate by 70%.

*Based on creditworthiness. Average credit card interest rate is 24.72% as of 8/14/23, according to Forbes Advisor’s weekly credit card rates report.

3. Send a Text to Add an Extra $70 to Your Savings This Week

Now that you’ve got some money in your checking account, it’s time to focus on your savings. Easier said than done, right?

But a free app called Dobot from Fifth Third Bank makes it easy. When you connect Dobot to your checking account, it allows you to save money as easily as sending a text.

Just text Dobot, “Save $10,” and the app will take care of the transfer for you. We suggest doing this every day for the rest of the week.

It takes just a few minutes to sign up. Plus, by the end of this week, you’ll have a cool extra $70 in your savings.

4. Download This App to Get Up to $500 in Free Stock

You’ve got some money in you checking account, but you feel like you still don’t have enough money to start investing. But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

*Bestow: Policies are issued by Bestow Life Insurance Company, Dallas, TX on policy form series BLI-ITPOL. Bestow Life Insurance products may not be available in all states. Policy limitations or restrictions may apply. Not available in New York. Our application asks lifestyle and health questions to determine eligibility in order to avoid requiring a medical exam. Prices start at $10/month based on an 18-year-old male rated Preferred Plus NT for a $100k policy for a 10-year term. Rates will vary based on underwriting review.