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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. Buy an Apartment Building (Even If You’re Not Rich)
This year has been a rollercoaster. Historically, though, real-estate investing offers the best long-term returns. (Does the name Rockefeller ring a bell?)
That’s why we like investing with pros like DiversyFund. They’ll help you make long-term investments in apartments and office buildings all over the country — and you don’t have to be a millionaire. You can get started with only $500.
You can see exactly which properties are included in your portfolios — like a 200-unit apartment complex in Killeen, Texas or a 59-unit building in San Diego. And you don’t have to be the landlord — DiversyFund does all the heavy lifting.
Because they know how to ride out the market’s ups and downs, they’ve historically seen annual returns of 17% to 18%, though they can’t make any promises.
As a partial owner, you make money on rent payments and when property values go up. It takes just a few minutes to sign up and own your first apartment building.
2. This Company Will Give You $100 for Opening a Free Account
How’s an extra $100 sound? For free? Seriously. We found a company that will give you $100 just for opening a new debit card. It’s called Aspiration.
Sure, a lot of debit cards offer sign-up bonuses throughout the year, but they often require you to jump through hoops with minimum requirements that feel impossible to hit.
But Aspiration makes it simple. To earn your $100, here’s all you need to do: Open your Aspiration account and deposit at least $10. Then set up and receive three direct deposits of at least $500 each from your paycheck or government benefits. That’s it! Then just wait for your check.
Even better? Your debit card gets you up to 10% cash back on your purchases.
Enter your email address here, and link your bank account. And don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s nerd talk for “this is totally safe.”
3. Spend $5 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.
But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.*
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1. The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.
It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your account.**
4. Take 2 Minutes to Make Sure Your Family Can Pay The Bills After You Die
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? But there’s a way to make sure all of this is taken care of — and it only takes two minutes to get started.
Through a company called Policygenius, you can find and compare term life insurance policies for up to $2 million in coverage from multiple insurers at once to find your best rate. Yup — just a few dollars a month now could mean millions for your family when they’ll need it most. Totally affordable and totally worth it.
With Policygenius, it takes about two minutes to enter some basic information, then it’ll search the marketplace for the best rates. If you’re not sure how much coverage you need, their licensed experts will guide you and help you compare your options.
Once you find a policy that fits your needs, you’ll easily apply online. Normally, larger policies require in-person medical exams and lab tests, but Policygenius has an option that can get eligible applicants covered with a simple phone call. No visit to the doctor (or needles) required!
Tonight, you’ll be able to sleep easier knowing your family will be taken care of financially.
5. This Website Helps Wipe Out Your Credit Card Debt
Imagine waking up with no credit card debt. Whether you’re stressed about being in debt forever or you’re just sick of the extra monthly bill, this would be a huge relief.
Impossible, right? But with help from a free website called Fiona, you could wipe out all of your credit card debt by the end of the week.
It will match you with a low-interest loan to pay off all your credit cards at once. Its interest rates start at 3.99% — way lower than the 20% or more you’re probably paying your credit card company. That could save you thousands in the long run.
Plus, you’ll be debt-free that much faster.
It takes two minutes to see if you qualify for up to $100,000 online.
6. Cancel Your Car Insurance
If you need to free up some extra room in your budget, one of the easiest places to start is to cut back on your monthly bills — like your current car insurance.
In most places, it’s straight up illegal not to have it, so you’ve probably accepted that you’re going to pay through the nose for it. But you don’t have to.
A free website called Savvy will help you find the best rates — in just 30 seconds. In fact, it saves people an average of $826/year.
All you have to do is connect your current insurance, then Savvy will search hundreds of insurers for a better price on the same coverage. It’ll even help you cancel your old policy and get you a refund from your current insurer. Best yet: This is totally free.
If you find a better deal, you can switch right away and don’t have to wait for your next renewal or even your next payment.
*The Penny Hoarder is a Paid Affiliate/partner of Stash. This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers.
**You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash.