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1. Find a free account with a better rate

Hands holding us dollar bills and small money pouch
Yulia Grigoryeva / Shutterstock

You might feel tied to your bank because it’s the only one you’ve ever used. But you can likely find an account with a better rate somewhere else, and switching over is easier than you might think.

And if you currently have your cash sitting in a checking or savings account, use a high-yield savings account instead. High-yield savings accounts pay substantially more than traditional savings accounts, giving the funds you deposit the chance to grow.

Not only will your savings grow much faster than in a normal savings account, but cash back on all of your normal purchases means you’ll have even more to save.

Take a look at some of today's high-yield savings account rates to see how they compare.

Kiss Your Credit Card Debt Goodbye

Millions of Americans are struggling to crawl out of debt in the face of record-high interest rates. A personal loan offers lower interest rates and fixed payments, making it a smart choice to consolidate high-interest credit card debt. It helps save money, simplifies payments, and accelerates debt payoff. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast — and save a ton in interest.

Explore better rates

2. Start investing with only $5

A young woman using her phone while lying down
fizzles / Shutterstock

You don't need millions of dollars lying around to be an investor.

Stash is an app that lets you invest in fractional shares of major companies, like Walmart, Amazon, and Google, which would typically run you thousands of dollars for a full share. You can buy in for as little as $1, and when these companies profit, so will you.

Let’s say you decided to invest your $1,000 with Stash at five bucks a week instead of keeping it in a regular savings account.

Based on an average growth rate of 5%, after three years you’d be up by more than $100. And if you kept it up for another 10 years, you’d be up by more than $1,400.

It only takes two minutes to open an account, and Stash will pay you a $5 sign-up bonus1 2 when you invest your first $5.

3. Stop wasting money on car insurance

Closeup for car flat tire
UnderhilStudio / Shutterstock

Saving $1,000 won’t make much difference if you’re just going throw it all away on your car insurance.

You could be wasting up to $1,127 a year by not shopping around for a better car insurance rate every six months.

SmartFinancial can find a lower rate on your current coverage in minutes.

Just answer a few quick questions about yourself, your car, and your driving record, and SmartFinancial will instantly sort through over 200 insurance companies to find you the lowest prices in your area.

Comparing car insurance rates with SmartFinancial is totally free, so even if you’re just curious, check it out and see how much you can save.

Discover the power of FreeCash – your ticket to easy money

Dive into a world of rewards at FreeCash where earning cash is as simple as a click. No gimmicks, just real cash for your time. Join the community of earners today and watch your wallet grow effortlessly.

Make Money Now

4. Stay out of debt

Top view of stressed young asian woman trying to find money to pay credit card debt.
Pormezz / Shutterstock

If you’re paying sky-high interest on more than one credit card, $1,000 in savings probably won’t last too long.

But there’s an app called Tally that can free you from the hassle of managing multiple due dates and monthly minimums, and potentially save you thousands of dollars.

Tally keeps track of your billing schedule and makes your payments for you — on time, and in a way that minimizes the amount of interest you owe.

You just make one monthly payment to your Tally account, and they handle everything else. On average, Tally users have seen savings of $5,300 over the past three years.

5. Protect your income

closeup of woman walking with a plaster cast and crutches
wernimages / Shutterstock

No matter how much you save up, it could all be wiped out if you lose your job due to an unexpected illness.

Breeze disability insurance gives you financial protection against serious health problems for less than the cost of a Triple Venti White Mocha Latte each month.

Getting a policy is simple: Just answer a few questions about yourself, choose your plan, and apply.

It takes less than five minutes, and you’ll never have to worry about losing your income — or your savings — because of a medical issue.

1 Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures here: www.stash.com/start-investing/impact19. 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.

2 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.


This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Sarah Cunnane Former Staff Writer

Sarah Cunnane was formerly a staff writer at MoneyWise. She is a writing and marketing professional with an Honors Bachelor's degree in English and Creative Writing from the University of Toronto.


The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.