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Remember overdrafting while you waited for your next paycheck to come — that was the worst, am I right?
There’s not enough money in your bank account — so your bank gets its revenge by helping itself to $35 of all that money you don’t have.
Ho ho ho, I just love overdraft fees, you say to yourself. What a fun game this is! Thanks a lot, BANK.
But you’ve moved past that. You’ve finally reached a point in your life where you have a real job and a grown-up income. It’s a sweet feeling and a serious win. You’ve achieved a level of financial stability, and you’re not getting hit with these ridiculous fees.
What to Do Now That You Don’t Have to Worry About Money So Much
Now that you’re not worried about running your bank account down every week, it’s time to think about what you want to achieve next with your money. Do you need to save more? Buy a home? Invest? What’s the next step you should take?
We’ve got some ideas for you:
1. Invest in Real Estate (Even If You’re Not Rich)
Now that the ground beneath your feet is stable, it’s time to spread your wings further.
Want to try real-estate investing without playing landlord? We found a company that helps you do just that.
Oh, and you don’t have to have hundreds of thousands of dollars, either. You can get started with a minimum investment of just $500. A company called Fundrise does all the heavy lifting for you.
Through the Fundrise Starter Portfolio, your money will be invested in portfolios that own real estate around the United States.
This isn’t an obscure investment, though. 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.
You can earn money through quarterly dividend payments and potential appreciation in the value of your shares, just like a stock. Cash flow typically comes from interest payments and property income (e.g. rent).
2. Ask This Website to Pay Your Credit Card Bill This Month
No, like… the whole bill. All of it. All that debt racked up from the 300 destination weddings your friends made you attend (thanks!) could be paid by the end of this month.
Your credit card company is ripping you off with insane rates, and it’s getting rich off of you. But there are other, nicer companies that’ll help you out. A website called Fiona knows the best ones and could pair you up as soon as tomorrow.
Here’s how it works: Fiona will match you with a loan that’ll cover your credit card tab. Use that loan to pay off your debt, then make monthly payments to repay the loan. It could lower your monthly payments and help you pay off that debt a lot faster. Plus, no credit card payment this month.
Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
Now you can finally stop holding a grudge against that friend who thought a Mexico wedding was a good idea.
3. Leave Your Family $1 Million
Do you have kids under 18 or a partner who relies on your income? It doesn’t matter how old you are; you’ll want to make sure their futures are secure.
Despite your best efforts, you’re not going to live forever. And none of us want to leave our families without financial support when we die.
If it were up to you, you’d like to leave your family $1 million. But we’re not all millionaires. Good news: You don’t need to save up all that money yourself. With Policygenius, you could leave your family up to $1 million in life insurance for as little as $25 a month.
Policygenius is a website that makes it easy to compare and buy life insurance policies. Just enter some info about yourself and your health, and you’ll get a quote instantly.
But how much coverage do you need? A general rule of thumb is to secure seven to 10 times your average salary.
Once you choose a life insurance company you like, you can apply right online, and a Policygenius rep will give you a quick call to ask a few follow-up questions.
Want to leave your family $1 million? It takes two minutes to get a free quote.
4. Opt in for Autopay to Save on Bills
Because the fear of overdrafting isn’t hanging over your head anymore, you have no reason to fear autopay now. ANOTHER ACCOMPLISHMENT.
Cell service providers, utilities and student loan companies all love it when you opt into a monthly autopay plan. That way, they can count on your payment rolling in like clockwork.
They love it so much, they might even give you a discount. For example, many student loan providers will give you a quarter-percent discount on your interest rate for using an autopay function, and that savings will really add up over time.
Lots of cell phone companies will kick in a monthly discount of around $5 if you use autopay.
This also helps with credit cards. If you make your payments automatically, they’re never late — so your credit cards won’t jack up your interest rates.
5. Save up to $865 a Year on Car Insurance — for the Same Coverage
When was the last time you shopped around for car insurance? Was it more than six months ago?
If so, you’re probably overpaying — by hundreds of dollars. Yep. Experts say you should compare rates twice a year to get the best deal.
Twice a year? Yeah, we don’t want to do that either.
A service called Gabi does all the shopping for you to find cheaper insurance — with the same coverage and deductibles you already have. And it saves customers an average of $865 a year.
You don’t have to fill out any forms. Just link your existing insurance account and enter your driver’s license, and it will start looking for cheaper coverage.
Plus, after you sign up, Gabi will keep looking for savings. No more shopping.
6. Reduce Your Homeowner’s Insurance to as Little as $25/Month
No seriously. This could be as easy as ordering pizza.
We get it. Buying homeowners insurance was enough of a hassle the first time around. You’re not exactly champing at the bit to do all that again. But this company could have you switched faster than you can say “hold the olives” — and it could save you a bunch of money.
The average person is paying a fortune, but with Lemonade, you could get homeowners insurance for as little as $25 a month.
Even better? No phone calls. No lengthy sign-up process. Nothing. The whole process takes just 10 minutes.
Just because you’re only paying $25 doesn’t mean you’re skimping on coverage. In fact, Lemonade pays out 30% of its claims instantly. It even holds the world record for paying a claim in only three seconds!
Lemonade is available in Arkansas, Arizona, California, Colorado, Connecticut Georgia, Illinois, Indiana, Iowa, Massachusettes, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, D.C. and Wisconsin.
This story was originally published at The Penny Hoarder.