If You Have More Than $1,000 in Your Checking Account, Make These 10 Moves

Wondering what to do with some extra cash? Read on.

by:  Cynthia Measom | November 30, 2021
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It’s a great feeling when the wise decisions you’ve made with your money leave you with an extra grand or so in your checking account that you don’t need for monthly bills. However, it’s not wise to leave that amount of money just sitting there in your account. Instead, you should find a way to increase your bottom line by putting that money to work for you. 

To give you some inspiration, here are six smart moves you can make with your extra cash. 

1. Start an Investment Portfolio With as Little as $5

If you’ve been wanting to try your hand at investing in the stock market but the idea of losing your money has been holding you back, you’re in luck. The personal finance app Stash¹ is specifically geared for beginning investors. Plus, when you open an account with Stash with at least the $5 minimum, you’ll receive a $5 bonus, which is like making an automatic 100% return on your initial investment.

Receive $5 to Start Investing Today

2. Earn $250 With Direct Deposit

Plenty of direct deposit bonuses exist, but it’s hard to find a generous bonus of $250 for meeting easy requirements like Monifi offers. All you have to do is download the Monifi app, open a Monifi Relationship account and receive at least two direct deposits of at least $1,000 each to your Spend Balance within the first 90 days. Plus, any extra funds that you move to your Save Balance will earn an impressive 0% APY.

Earn $250 with Monifi

3. Invest in Thousands of Stocks with as Little as $1

Named after the famed mythical character who stole from the rich and gave to the poor, the Robinhood app aims to extend the benefits of the stock market not just to institutional investors but to small individual ones, including regular folks who may not be confident or experienced enough to play the market without an app that makes it super convenient. Based in Menlo Park, the service was a trailblazer when it came to commission-free stock trading. You get your first stock free when you sign up or download the app, which has been praised for its seamless performance and striking, intuitive interface.

Sign Up and Earn Your Free Stock

4. Easily Save & Invest in the Background of Life

Looking for a company that specializes in robo-investing and micro-investing? You’ve come to the right place. Despite its innovative approach — where you can turn literal spare change into an active investment — Acorns isn’t a new kid on the block; it’s been around since 2012 and launched as an iOS and Android app back in 2014. When you sign up, you’ll have a choice of predesigned portfolios. The company also handles checking account services and retirement IRA products, among other services to get you on an optimal financial track.

Get a $5 Bonus Investment By Signing Up Today

5. The Finance Super App

M1 is a robust financial services company that offers a portfolio of services, including brokerage accounts, checking accounts and lines of credit. The company’s trading platform lets you trade nearly everything: common stocks, preferred stocks, fractional shares and even exchange-traded funds. When you sign up, you get a one-year free trial for M1 Plus (valued at $125) and a bonus of up to $500 if you deposit $1,000 or more. M1 Finance uses two dozen tech products and services to bring the best service to your fingertips.

Get Up To $500 To Your New M1 Invest Account

6. Join 68+ Million People On The World’s Most Trusted Crypto Exchange

Another cryptocurrency-centered investing service is Coinbase, for which users can sign up for free and get a cool $5 in Bitcoin. Coinbase touts a varied array of products in addition to its cryptocurrency investing platform, such as a trading platform and custodial accounts for businesses. Launched in 2012, Coinbase is available in all states except Hawaii. This app stands out because it doesn’t just deal in Bitcoin, it also includes Ethereum, Litecoin and dozens of other types of cryptocurrency.

Earn your $5 in Bitcoin by Signing Up for Free

7. Own Slices of Companies with Fractional Shares

Public lets investors buy any stock with any amount of money — and doesn’t charge any commission. An investing social network where members can own fractional shares of stocks and ETFs, as well as follow popular creators, and share ideas within a community of investors, Public makes the stock market less mysterious and more educational. The pressure is on to sign up with Public, which is offering onboarding users a free stock to claim.

Start Investing Now With Only $1

8. Become a Real Estate Investor With as Little as $100

If stocks don’t interest you, you can opt to invest in real estate — just not in the traditional sense. Instead, you can purchase shares through Arrived Homes, a real estate crowdfunding site, and earn passive income. Arrived Homes offers shares of income-producing rental properties that are single-family homes for as little as $100 and up to $20,000 each. You can build an investment portfolio across different properties while Arrived handles all the management duties. And the best part is that you won’t have to spend hundreds of thousands to buy an entire property and take on the role of a landlord to invest. 

Click Here For A Better Way to Invest in Real Estate

9. Protect Your Family When You’re Gone

No one likes to think about departing and leaving family behind, but it’s a fact of life that you should plan ahead for. When you enroll in Fabric Life Insurance, you can instantly gain peace of mind without the strain on your bank account due to its affordability. It only takes about 10 minutes to apply, and you’ll find term lengths and coverage options that will suit your budget. Plus, not only can your family use the money for your final expenses, but also for things like mortgage payments, educational expenses or whatever they need.

Give Your Family Financial Security – Get a Free Quote Now

10. Make Your Money Smarter With Automated Savings

Saving is easier when you don’t have to think about it, which is what happens when you download the Digit app. The app works in the background to automatically transfer set amounts from your linked bank account so you can effortlessly meet your savings goals. Additionally, the app will move money from your savings to your bank account to help you avoid overdrafts, which could save you up to $60 annually in fees on average. 

Automate Your Savings Today


Do you have savings tips to start investing, or were you able to make money with these services? Email us at Money@GOBankingRates.com and share your story. We may even choose to highlight it in a future article.


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1Bank Account Services provided by Green Dot Bank, Member FDIC. Investment products and services provided by Stash Investments LLC, not Green Dot Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.