5 Clever Moves When You Have $1,000 In The Bank

Keeping tons of money in your checking account means you're missing out.

Last updated Dec. 5, 2023 | By FinanceBuzz Editors

Saving up $1,000 in your checking account is a big milestone. But leaving the money in checking likely doesn't make much sense since most checking accounts pay minimal or no interest.

Once you've worked hard to amass $1,000, you want to put your money to work for you. Here are three money moves you can make to get the most bang for your buck and get on the path towards a bright financial future.

Cancel your car insurance

We've got bad news. You could be wasting $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there's something much better.

This new tool from FinanceBuzz can tell you if you're overpaying for your car insurance in just a few clicks. We match drivers with companies that report saving drivers up to $500 or more per year when they save! Each driver’s savings will vary by driving history and how many discounts you’re eligible for. And once you try it out, you'll never have to look for affordable insurance again because we find you the lowest rates that other companies can't match.

Oh, and it's also free. And come on — you can't tell us you don't want to save up to $500. To find out if you're losing up to $500 or more a year, just enter your zip code here, answer a few questions and see if you're overpaying. It takes less than 2 minutes.

See if you're overpaying

Pay no interest on balance transfers until July 2025

Imagine getting 0% intro APR on purchases for 6 months, AND 0% intro APR on balance transfers for 18 months (APR then 17.24% - 28.24% Variable). Sounds great — right? You could dramatically change your financial picture with this industry-leading card - the Discover it^® Chrome (Rates and fees).

If you want to kick high-interest credit card debt to the curb, this is one of the leading get-out-of-debt cards available. Transfer high-interest debt to this card with a 0% intro APR on balance transfers for 18 months (APR then 17.24% - 28.24% Variable). Your payments can go directly to paying down your balance without incurring a pile of additional charges. That could save you hundreds of dollars in interest!

It doesn't stop with balance transfers though — get 0% intro APR on purchases for 6 months, (APR then 17.24% - 28.24% Variable). Even better: Discover will match all the cash back you’ve earned at the end of your first year. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.

The best part? There's no annual fee.

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Pay off $10,000 or more of your debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.

How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you take the first step.¹

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Meet Magnifi, the world’s first investment assistant that provides a conversational AI experience that can help you supercharge your investing decisions.² Just type in a question like “How can I invest $1,000?” or “Help me start an emergency fund” and get personalized recommendations, plus on-demand analysis.

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