After quarantine, many Americans have noticed extra cash in their savings account. With no restaurants, sports games, bars, hair salons, and so on, many young professionals noticed a bump in their discretionary income. If you don’t want to waste this money wine-drunk on Amazon, then keep reading for the best ways to spend or invest an extra grand this month.
Bank Account Buffer
One great way of using your extra grand is to create a bank account buffer. This means that, roughly, between $500 and $1k should be kept safe from overdraft fees. This kind of account is different from a savings account because it’s linked directly to your checking account. While this means you won’t collect interest, you’ll save money by avoiding the stress with tight money.
Add New Work Skills & Certifications
Websites like Skillshare and Coursera offer courses that can help you build up your skillset, making you valuable to employers and customers. With these platforms, you can study everything from ancient history and philosophy to digital marketing techniques such as Google Analytics and SEO.
Invest in Apps Like Robinhood
The rise of affordable trading apps provides free stocks and options, ETF, and cryptocurrency trades. Many of these apps, such as Acorn and Robinhood have account minimums of $0. These apps have revolutionized the stock market, giving everyday people the ability to invest in their future. Say goodbye to expensive meetings with advisors who charge excessive fees and commissions.
Buy a Gym Membership
Companies like Lifetime Fitness and Planet Fitness offer amazing amenities. For example, Lifetime offer amenities like haircuts and protein bars, as well as private locker rooms, dedicated family locker rooms, fresh towel service, premium toiletries & hairdryers, steam rooms, saunas, whirlpools, and Lounges with WiFi.
Meanwhile, companies like Planet Fitness offer unlimited access to their home club, free fitness training, free Wifi, the ability to use any Planet Fitness gym worldwide. You can also bring a guest as many times as you wish, and use the tanning beds, hydromassage treatment, massage chairs, and 20% off anything on the Reebok website.