5 Things to Do With Your Money Once Your Salary Reaches $70,000
Remember when you used to get hit with overdraft fees all the time? Man, that was the worst. It was like a never-ending cycle that you couldn’t escape.
But look at you now! You’re making more than $70,000 a year, and you’ve escaped the grips of your bank and its nasty $35 fees. You’re doin‘ fine.
Now it’s time to start thinking about what you want to achieve with your money next. Do you want to invest? Buy a home? Pay off your debt? Start retirement planning?
Use these ideas to get started:
1. Invest in Real Estate (Even If You’re Not a Millionaire)
Now that you’re earning a higher salary, you might have some extra room in your budget. Maybe you’ve thought about investing some of that cash, but you’re not sure where to start.
We found a company that helps you become a real estate investor — and you don’t have to be a millionaire.
You can get started with a minimum investment of just $500. With the Fundrise Starter Portfolio, your money will be invested in portfolios of real estate around the United States.
You can see exactly which properties are included in your portfolios — like a set of townhomes in Snoqualmie, Washington, or an apartment building in Charlotte, North Carolina.
This is a good way to get started in the world of real estate. You could invest $500 or $1,000 or $2,000 to start with, and automatically add a little more every paycheck. The more you invest, the more you can make.
And you don’t have to be the landlord. Fundrise does all the heavy lifting.
As tenants pay their rent, you can earn money through quarterly dividend payments and potential appreciation of the property.
It’s a great way to get started in the world of investing now that you’ve got some additional income.
2. Ask This Website to Pay Your Credit Card Bill This Month
![A woman sitting at the beach smiles as she uses her phone and holds up her credit card simultaneously.](https://cdn.thepennyhoarder.com/wp-content/uploads/2018/08/27084645/GettyImages-585584572-1024x683.jpg)
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.99% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.
It takes two minutes to see if you qualify for up to $50,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.
3. Leave Your Family $1 Million — Even if You Aren’t Making Millions
![money management steps policygenius](https://cdn.thepennyhoarder.com/wp-content/uploads/2017/04/04123145/GettyImages-623700524.jpg)
Want to sleep easier tonight?
We’ve all wondered about what’d happen to our spouse and kids when we die: Could they afford the mortgage? Pay the bills on time? Handle the cost of childcare or college? That’s where life insurance can give you peace of mind.
Now’s a good time to start planning for the future by securing a life insurance policy.
You’re probably 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 million in life insurance with a company called Bestow. Policies start at $5 a month.
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.
Tonight you’ll be able to sleep easier knowing your family will be taken care of financially.
4. Let This Website Help You Pay off Your Student Debt 5 Years Faster
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 2.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
Ashley Williams, a financial analyst, graduated with $46,000 in debt. Refinancing allowed her to knock five years’ worth of payments off her loans, and it saved her more than $18,000 in interest.
AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.
5. Cancel Your Car Insurance
![](https://cdn.thepennyhoarder.com/wp-content/uploads/2017/12/01183000/GettyImages-811955706-1024x683.jpg)
When was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy.
If it’s been more than six months since your last car insurance quote, you should look again.
And if you look through a digital marketplace called SmartFinancial, you could be getting rates as low as $22 a month — and saving yourself more than $700 a year.
It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side. Yep — in just one minute you could save yourself $715 this year. That’s some major cash back in your pocket.
So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.