Got $1000 in the bank? Here are 8 things you need to do next

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So, you’ve hit a milestone – $1,000 in long-term savings, on top of your emergency fund. Now that you have a little extra money, consider making it work as hard for you as you do for him.

Keep in mind that over time, what you earn from your savings will make a huge difference. For example, invest $1,000 each year, earn 5% of it for 30 years, and you’ll end up with a nice nest egg: about $70,000.

But boost that return from 5% to 15%, and you’ll end up with just over $500,000! In short, while it doesn’t pay to gamble, an audio investment over time can literally change your life.

Here are some ways to find more money to invest, as well as ideas for increasing returns on your current long-term savings.

1. Invest in Amazon, Apple or Tesla for just $1

Investing in a better future for you and your family is a great idea. But, taking the leap to start investing in the market can be challenging. There is a lot of information out there, and it can be hard to know where to start.

But an investment app called Stash is changing that.

With Stash, it’s easy to start investing in the stock market. In addition to an easy-to-use interface, Stash also allows you to buy partial stocks. With this approach, you do not need the money to buy a full share of the expensive stock. Alternatively, you can invest in a partial stake, for as little as $1, while still taking advantage of the growth potential over time.

Additionally, Stash will reward you with a $5 bonus when you add $5 or more to your personal wallet. So, if you are looking to invest in your future, sign up today.

2. Get thousands more to invest by refinancing

Take advantage of historically low interest rates, and refinance your mortgage!

Companies like Rocket Mortgage make the process quick and easy. Rocket Mortgage has been rated highest in customer satisfaction by JD Power, and there are simple calculators on their site that can tell you exactly how much you’ll save by refinancing.

If you’re currently paying 4.75% on a 30-year, $300,000 mortgage, refinancing to 2.75% could mean saving $340 a month and thousands over the life of the loan. This puts an extra $1,020 in your pocket every three months!

Spend a few minutes on Rocket Mortgage and see what you can save. And do it soon: interest rates are going up.

Compare refinancing rates and lower your payments today at Rocket Mortgage.

3. Save hundreds on home insurance

Would you rather invest your money for yourself or send it to an insurance company?

Like shopping for your car insurance, you may also find hundreds a year to invest by looking for less expensive home insurance. Lemonade is a company that offers rates starting at just $25 a month.

Tip: When comparing prices, make sure you get the coverage you need, but not more than you need. Now that you have $1,000 in the bank, consider increasing your deductible. The more you are willing to pay out of your pocket, the more likely you are to save. Even if you don’t change companies, increasing your deductible to $1,000 can save you 10% or more.

Just answer a few questions about your home to get started.

4. Crush Your Credit Card Debt Immediately

One way to get rid of high-interest credit card debt is to take out a low-interest personal loan.

A website like Credible can help you find the right personal loan for you, helping you compare rates and terms quickly and easily.

Once you get your personal loan, you can pay off credit cards. At a lower price and one simple monthly payment, you can save on interest, get rid of your debts faster and get more money to invest. Warning: Use debt consolidation to pay off debt, not create more.

Check your personal loan rate online in less than 2 minutes with Credible.

5. Find an extra $440 on your car policy

Maybe you’re trying to save a few pennies on milk or gas by shopping. But you can save hundreds by shopping for big expenses, like car insurance.

And here’s the good news: It’s never been faster or easier.

With a free website called The Zebra, you can check rates from several insurance companies — and save up to $440 a year. This is more money that you can stop handing over to insurance companies and start using it to save and invest.

All you have to do is answer a few basic questions. Then you choose the best deal, and you’re done. It’s really that simple. Plus, it’s free to use, and you can do it all right now on your phone in just five minutes.

Try it out for yourself, and see how much you can save with The Zebra.

6. Invest in real estate under $10

You don’t need thousands of dollars, let alone millions, to invest in real estate.

If you can’t buy a property yet, you can still invest in real estate using a platform like Fundrise. With Fundrise, you can get into high-quality real estate projects for less than $10.

Real estate can be one way to diversify your assets beyond stocks and bonds. Over time, real estate has the potential to provide good returns, and it is possible that a portion of your $1,000 will go to working for you in real estate – even if you can’t buy an investment property outright.

If you are ready to become a real estate investor, start now.

7. Increase your credit score, for free

One of the best ways to save money on various financial products and services is to maintain a good credit score. Find out what’s going on with your credit report and your score by signing up for a free consumer credit score website like Credit Sesame.

Credit Sesame can analyze your current financial situation and suggest actions you can take to improve your credit score. With these practical ideas, you can get free help to improve your score so that you can save money on your next mortgage or car loan. In some states, you can even save money on car insurance with a lower credit score.

Get your free credit score and analysis at Credit Sesame.

8. Earn up to 50% cashback every time you shop

One way to get money back on your regular purchases is to sign up for a cashback and refund program like Rakuten.

Every time you spend money, you get some cash. This money can be deposited into your bank account, allowing you to increase your balance even more. Not only that, but you can get coupons and discounts just by regular shopping. These types of sites work best when you spend only on planned purchases.

As a reward for joining Rakuten, you will earn $30 when you sign up using our link and spend at least $30 shopping online with Rakuten during the first 90 days. Start earning cash and claim your free $30 bonus today.

Bonus: Get $991.20 free every year

Over 1 million Americans have reported saving an average of $991.20 each simply by reading completely free. Money Talks Bulletin.

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