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Remember overdrafting while you waited for your next paycheck to come — that was the worst, am I right? You’d be short on cash and your bank would get its revenge by helping itself to $35 of all that money you didn’t have.
But you’re making $70,000 a year now, and those days are behind you.
It’s time to think about what you want to achieve next with your money. Do you want to invest? Plan for the future? Pay off debt? We’ve got some ideas for you:
1. 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.
2. Secure Up to $1 Million in Life Insurance; Rates Start at Just $8/Month
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 looking into a term life insurance policy.
You’re probably thinking: I don’t have the time or money for that. But your application can take minutes — and, if you’re approved, you could leave your family $1 million by spending a low monthly fee on term life insurance with a company called Bestow.
Plus, the peace of mind 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 or even getting up from the couch, get a free quote from Bestow.
3. Invest in Real Estate (Even if You’re Not a Millionaire)
The stock market can be a scary place. Stock prices shoot up and down like a roller coaster ride, and who knows when the whole thing might crash?
It would be nice to diversify and invest some of your money in real estate, but don’t you have to be wealthy to do that?
Now you can invest like the 1% does, and all you need to get started is $500. A company called DiversyFund will invest your money in commercial real estate — specifically, in apartment complexes that it owns — and you only need $500.
Real estate can potentially earn you more money than the stock market. Over the long term, investing in the stock market will earn you an average annual return of 7%, adjusted for inflation, according to a number of studies. DiversyFund can’t guarantee how its investments will perform in the future — no one can — but historically, it has earned an annual return of 17% to 18%.
So you don’t need a fortune to invest in real estate. All you need to get started is $500.
4. Ask This Website to Help You Pay Your Credit Card Bill This Month
You’re making good money now, but that doesn’t mean your debt magically disappears. If you need some help, we found a company that will pay your credit card bill this month. No, like… the whole bill.
Your credit card is getting rich by ripping you off with insane rates, but a company called Fiona could help you pay them off tomorrow.
Here’s how it works: Fiona will match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much 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.
You’re making great progress in your career. Don’t let your credit card company hold you back.
5. See if You’re Wasting $690/Year on Homeowners Insurance
You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy.
This isn’t something you actively think about — you just know you’re required to have it.
The problem is, you’re paying too much. Luckily, an insurance company called Policygenius makes it easy to find out how much you’re overpaying. It finds you cheaper policies and special discounts in minutes.
In fact, it saves users an average of $690 a year — or $57.50 a month. It’ll even help you break up with your old insurance company. (You’re allowed to cancel your policy at any time, and your company should issue you a refund.)
And just because you’re saving money doesn’t mean you’re skimping on coverage. PolicyGenius will make sure you have what you need.
Just answer a few questions about your home to get started.
6. Cancel Your Car Insurance
Chances are, you know it’s entirely possible to find a better deal on some of your pesky monthly bills but what a hassle.
Here’s an easy one to start with, though: Car insurance. You should be shopping your options every six months or so. It could save you some serious money.
A company called Gabi will do this for you. It makes it super easy to compare car insurance prices in a matter of minutes.
Take Lourdes Robles-Velazquez, for example. The single mom lives on a tight budget. She was paying $205 a month to insure two Toyota Priuses — hers and her daughter’s. By comparing prices, she knocked $80 off her monthly car insurance bill. That’s nearly $1,000 in savings per year.
Wondering how much you could save? Head over to Gabi for a free quote. It takes all of two minutes.
This story was originally published at The Penny Hoarder.
Square Budgets/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.