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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 Like a Tycoon (Even If You’re Not Rich)
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. Through 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.
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 built up a bit of savings.
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 for Just $5/Month
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.
Have you thought about how your family would manage without your income after you’re gone? Chances are your checking account balance won’t last forever.
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 $1 million by spending $5 a month on life insurance with a company called Bestow.
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.
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.
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.