Life is pretty good if you are making $75,000 a year. So what’s the next step to make with your money?
Figuring out how to build off the progress you’ve made so you can get to the place you want to be financially. If you don’t know what those next steps are, don’t worry. We’re here to help.
Here are a couple of things to do with your money now that you are earning so you can really start making the most of your money.
1. Stash – Invest Your Extra Money Into The Stock Market
If you haven’t dipped your toes into investing yet, now is absolutely the time to do it. Investing is the only way to grow your money significantly over time.
Yeah, I know what you’re thinking — investing requires lot of money and specialized knowledge. Luckily, apps like Stash make investing easy, simple and cheap.
To start investing with $5 here’s what you need to do:
- Open a Stash account for free
- Deposit as little as $1 to start buying fractional shares of your favorite companies or ETFs. If you don’t know where to start, Stash can recommend stocks and ETFs based on your interests and priorities.
- Set up regular investments and watch your money grow!
Sign up for any of Stash’s subscription plans which begin at only $1 per month. That means you can start investing for less money than your daily coffee.
2. Gabi – Save Up To $825 A Year On Car Insurance
You know that car insurance company that you’ve stuck with for the last couple of years? Well, you’re more than likely overpaying. If you want to check how much you could save, Gabi.
Gabi lets you instantly compare your current insurance price against over 40 providers nationwide. Just connect your current policy by uploading a PDF copy of it or logging into your provider account through the app. Within 2 minutes within, Gabi will pop out side-by-side comparisons from dozens of insurance companies. When you see a quote you like, you can apply for the cheaper car insurance policy directly through Gabi and get coverage right away. If you already have the best available deal, Gabi will tell you that, too.
Gabi saves its users an average of $825 a year. What would you do with almost an extra $69 a month?
3. Credible – Ask This Company To Pay Off Your Credit Card Debt
With each day your credit card balance goes unpaid, your debt collects interest — and credit card interest rates are no joke. Now that you are making good money, the best way to pay off debt fast is the refinance it with Credible.
Debt consolidation isn’t as complex as it sounds. All you’re doing is borrowing money at a low-interest rate and using it to pay off high-interest debt. That means your monthly interest repayments go down and there’s only one bill to pay each month. Simple but effective!
If you want to see how much debt consolidation could save you, check out Credible. Credible lets you search all the top online consolidation and refinancing options for free. You can sign up in three simple steps. The best part? It is completely free to use. No gimmicks, no hidden fees.
The sooner you pay off your credit cards, the more money you’ll have every month. Remember: You haven’t worked this hard to see your hard-earned cash go to paying credit card interest. There are much better uses for it.
The loans offered are between $1,000 and $100,000, lasting between 24 and 84 months. Rates start at 4.99% and people with a credit score of 660 or above get much better rates.
4. Experian Boost – Check If Your Credit Score Is Holding Your Plans Back And Give It An Instant Boost
Credit scores and credit history play a huge role in your overall financial wellness. You probably already know that they can impact your ability to rent or buy a home, open utility accounts and qualify for low rates for insurance, loans, credit cards and more. However, what a lot of people don’t know is that FICO Scores in particular are used by 90% of top lenders to judge a person’s creditworthiness.
If you need help improving yours, Experian Boost can help you raise it instantly for free. How? Well, Experian Boost makes it possible for you to use your phone and utility bills to get credit. Here how it works:
- Connect whatever bank account(s) you use to pay your bills (your information remains private)
- Choose and verify the positive payment history you want to be added to your Experian Boost credit file
- Get boost results instantly
While credit repair services typically charge hefty fees to help you fix inaccuracies on your credit reports (which you can do by yourself, by the way) Experian Boost is 100% free and works fast.
On average, Experian Boost helps users boost their FICO Score by 13 points. That’s no small feat!
Just something to keep in mind, Experian Boost uses the FICO score 8 model and your lender or insurer may use a different FICO Score model.
With how impactful your credit score can be in your financial life, it’s not something you want to wait to get in order.
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