Got $1,000 in the Bank? Here Are 8 Things You Need to Do Next

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So, you’ve reached a milestone — $1,000 of long-term savings, over and above your emergency fund. Now that you have a little extra cash, consider making it work as hard for you as you do for it.

Keep in mind that over time, what you earn on your savings will make a huge difference. For example, invest $1,000 every year, earn 5% on 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 a bit more than $500,000! In short, while it doesn’t pay to gamble, sound investing over time can literally change your life.

Here are some ways to find more money to invest, as well as ideas to increase the returns on your existing long-term savings.

1. Get cash back on every debit card purchase

It’s hard to keep track of all the cash-back offers out there. Let’s see, some credit cards offer cash back on certain purchases — as long as you qualify for the card in the first place. And that card might come with fees, too.

What if you just automatically got cash back every time you used your plain old debit card? That would be super easy, wouldn’t it?

That’s how it is with the Discover® Cashback Debit Checking. You earn 1% cash back on up to $3,000 in debit card purchases every single month. Also, there are no overdraft fees, no monthly account fees, no minimum opening deposit and no minimum balance required.

Another bonus: When you set up direct deposit, you’ll get paid up to two days early.

You can use more than 60,000 ATMs for free. And Discover is just as secure as any brick-and-mortar bank: Your deposits are FDIC-insured up to $250,000.

It’s time to leave your old bank behind and check out a smarter option.

2. Slash your car insurance bill by $610

If you’re like most Americans, you’re probably paying too much for car insurance. But shopping around for a better deal is such a hassle.

Well, it used to be.

Now you can just check out Provide Insurance, the largest online marketplace for insurance in the U.S. Provide Insurance lets you compare quotes from more than 175 different carriers in minutes.

All you have to do is answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.

You could save up to $610 a year on car insurance by using Provide Insurance. That’s money you could use for other things, like investing, saving or paying off debt.

Don’t let your current insurer overcharge you. Try Provide Insurance today and see how much you can save on car insurance.

3. Save up to $600/year on your phone bill

You can’t survive these days without a smartphone. But what’s not so smart is paying big money to the heavily advertised companies you see on TV.

Finding a more affordable mobile provider could save you hundreds every year. And there are plenty of companies offering premium features without the outrageous price tag. You can find plans for as little as $5 a month.

One example: With Tello Mobile you get T-Mobile’s reliable 5G network, generous data, international texting, unlimited US calling, eSIM support, and hotspot access for as little as $5.

Switching is faster and easier than you think, and the savings are huge. So stop financing some CEO’s third vacation home and check out Tello today!

Bonus: Tello just upgraded their phone plans, increasing the data and decreasing their prices. You can get Unlimited for $25/month. It comes with 35GB of high-speed data and 5GB of free hotspot.

If you’re unwilling to switch, at least study your bill and see if you can cut out unneeded lines, downsize your data plan, or drop the insurance if you have an older phone.

4. Invest in real estate with as little as $10

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

If you can’t afford to buy a property just yet, you can still invest in real estate using a platform like Fundrise. With Fundrise, you can get into high-quality real estate projects with as little as $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’s possible that a portion of your $1,000 could go to work for you in real estate — even if you can’t buy an investment property outright.

If you’re ready to become a real estate investor, get started now.

Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on All opinions are our own.

5. Earn up to 50% cash back every time you shop

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

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

As a bonus for joining Rakuten, you’ll earn $30 when you sign up using our link and spend at least $30 shopping online through Rakuten within the first 90 days. Start earning cash back and claim a free $30 bonus today.

6. 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 might also find hundreds a year to invest by looking for less expensive home insurance. Provide Home Insurance.

Tip: When comparing rates, make sure you have 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’re willing to pay out of pocket, the more you’re likely to save. Even if you don’t change companies, raising your deductible to $1,000 could save you 10% or more.

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

7. Get up to $50,000 with this company

Feeling trapped by high-interest debt? It’s time to do something about it.

Imagine this: One streamlined monthly payment instead of a chaotic web of due dates. No more late fees, no more juggling deadlines, just smooth sailing with a single payment at a radically lower rate. Result? A stress-free, debt-free you!

With a credit score of 620 or higher Upgrade will lend you up to $50,000 to pay off high-interest debt, improve your home, make a major purchase or cover unexpected expenses.

And the best part? Two minutes. That’s all it takes to see if you qualify, and it won’t affect your credit score.

Ready to stop juggling debts and paying stupid amounts of interest? Click here right now and see if Upgrade can make your life better and get a bit closer to financial freedom.

8. Boost your credit score, for free

Cushion gives you a single place to manage, pay, and build credit with your existing bills and Buy Now Pay Later (BNPL) payments.

What makes Cushion’s offering unique, in-demand, and timely is that they are the ONLY company that can layer your BNPL loan schedules into your monthly budgets alongside your recurring bills, utilities, and subscriptions. Did we mention that Cushion does all of this automatically?

This functionality is more important now than ever as Buy Now Pay Later has become a staple in consumers’ daily lives — they’re financing their Uber rides, groceries, and even DoorDash meals.

In addition to giving you a first-of-its-kind consolidated view of your Buy Now Pay Later loans as well as your bills, Cushion also offers the ability to build credit with your bills and BNPL (aka “Pay in 4”) that are not traditionally reported to the credit bureaus. Consumers love that Cushion enables them to build credit with these payments that they were otherwise not getting credit for.

Gone are the days of jumping from app to app to stay on top of your finances. Cushion is the easiest way to organize, pay, and build credit with your existing bills and Buy Now Pay Later. All your recurring payments — one dashboard, complete control.

Get smarter with your money!

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