You did it. In your bank account, you accumulated $900! It feels amazing, right? Your days of checking how much you have left for a coffee are long over.
Congrats! You have managed to save $900! Now is the time to reflect on some longer-term goals. What do you want your money to accomplish next? Are you looking to put more money into your savings? Would you like to buy a house one day? Invest in something? What’s your next step to take, you may ask?
We have a few suggestions for you:
Save As Much As $2,170 In One Year Without You
So far, you have done an excellent job of cushioning your checking account. Now it’s time to continue to develop your savings. How does it sound like an additional $2,170? How, you might ask?
That’s not bad, right? An app called Digit looks at your account and adds cash into your savings automatically. It could be a lot, it could be a little, you never know but it’s genius. We know because we have tried it and it WORKS!
Our personal finance editor, Veronica Martinez, signed up to Digit and saved $2,170 a year without ever thinking about it. “It seems strange to say that I forgot about the savings until I thought about it one day. It wasn’t until I looked at the total savings and was shocked because I didn’t do anything,” she says.
Digit looks at the patterns of spending and asks you what you can spare. It knows when to save and slow down so you don’t get too low on your cash. Have you an engagement ring to save up for? It’s going to go easy on you. Just set a budget and a deadline and the money will automatically be saved. Have you just been paid? Nice, let’s take back some of that.
Download Digit and log in to the checking account to begin. It’s going to start working from there. It’s free for your first 30 days, then it’s $5 a month. Not poor, given how much you can save.
All you need to do now is sit back and relax and watch the savings account expand.
Leave Your Family $1 Million in Life Insurance for Just $5/Month
Have you wondered how your family would survive without your income? Chances are that your account balance will not last long.
Now is a good time for securing a life insurance policy to start planning for your family’s future.
You’re probably thinking: for that, I don’t have the time or money. So the request shouldn’t take longer than five minutes. By spending only $5 a month on life insurance you could leave your family $1 million through a company called Bestow.
You can change your plan or cancel at any time. If you are under 54 years of age Bestow is the perfect plan for you! Bestow offers life insurance without a medical examination or overbearing calls.
Invest
You may have been thinking of investing some of that money, but you’re not sure where to start. You do not have to be “rich” to invest money.
We found a company that allows you to become an investor in real estate and you do not have to be a millionaire.
With a minimum investment of just $500, you can start. Your money will be invested in real estate investments across the United States. The company is called Fundrise Starter Portfolio.
You can see precisely which properties are included in your portfolios — such as a group of condos in Phoenix, Arizona, or a house in Charleston, South Carolina.
If you choose not to be a landlord and handle all tenant’s stressful situations and expenses, Fundrise will do all the heavy lifting.
You can make money from tenants paying their quarterly dividend payments and through property appreciation of the property.
This is a good way to get started now that you’ve saved up money to invest in the world.