196 A Real Test Of Your Money Management Consists Of What You Will Do With An Extra $1k In The Bank

Just imagine that you had an extra one thousand dollars in the
bank, perhaps it was a gift, you saved it, and or it was a side
hustle that was in play. So, what would you do with the
money? 


This happens to people every day and it could happen to you.
Below you will find a few ideas I am recommending as to how you
can manage your extra one thousand dollars:
Some online banks do not charge fees for banking with them
because they don't have a lot of employees or staff, thus they can
afford to pay you a high-interest rate on your deposits, some of
them pay up to three percent interest.Invest in real estate, not
houses, rather commercial real estate. You read this right and you
can deposit as little as five hundred dollars to invest in a
percent share of various properties located around the United
States.Pay off some of your debtsDeposit a thousand dollars in an
emergency fundRetirement account, 401k, Roth IRADeposit into a
college fund (529) program for your childrenInsurance is a
wonderful investment, get a whole life policy, talk to an insurance
agentGet an estate plan, use the extra 1k to hire a lawyer to
develop a plan for you and your familyStart a side hustleInvest in
yourself, learn a new skill that can generate income for you.

Money respects movement, thus if you have an extra one thousand
dollars use it to grow your wealth. Are there more ways to grow
your money? Yes. Anyhow, I hope this helps you out, enjoy and see
you on the next episode of the Wealth Academy Podcast.


Discover more about Paul's virtual Financial Fitness course at
this link, perhaps it can make a difference along your financial
journey: https://bit.ly/3dbperG