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5 Responsible Money Moves You Can Make in Less Than 1 Day

February 14, 2019

1 min read

Can you get your financial life in order in under 24 hours? Yes, yes, you can.

This handy checklist can help you achieve short and long-term money goals, help protect your loved ones from the unexpected, and start the next generation off on the right path to financial success.

Consider making these money moves now.

Make saving and investing automatic

Whether you want to save for a rainy day or for a longer term goal (like a down payment on a home), automatic beats manual. By automating money from your checking account toward your goals, you’ll take the pain out of saving and get into the habit of putting money away.

Turn on “Set Schedule” from the Auto-Stash tile and save automatically.

Take care of the ones you love

Don’t stay up nights worrying about what could happen to your family if something should happen to you. A term life insurance policy, which covers you for a set period of time, is generally more affordable than a permanent life insurance policy, which covers you for your entire life. A bonus: The younger you are when you get a life insurance policy, the more affordable it is likely to be.

Start saving for retirement

Did you know that one in three Americans has less than $5,000 put aside for retirement? You can break away from the trend by opening an IRA today. And best of all, your money will grow tax-efficiently until you’re 59 1⁄2.

Got a 401K through your work? You can open a Roth or traditional IRA in addition to your workplace retirement account. All you need is $5 to start. The best time to start saving for retirement is today.

Want to learn more about what you expect to have saved by retirement? Check out our retirement calculator, then get Stash Retire.

Help your favorite kid

Wouldn’t it have been nice if someone had handed you money when you were first starting out?
Now you can do it for a child you love.

A custodial account lets you open an investment account that you can contribute to (while teaching your child about how compounding works along the way). Best of all, when the child grows up, he or she can use the money for just about anything.

Open a custodial account on Stash.

Congratulations! Take a victory lap, you deserve it.

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By Stash Team

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