How can $100 change your finances?
“$100 doesn’t go very far” is something I have heard a few times recently from various sources. Our expenses are creeping up (or in some cases skyrocketing), making it harder to budget for many families.
View this post on Instagram
This came today! It was a wonderful surprise. What would you do with a bonus $100? #debtfreecommunity #bonus #giftcard #freebie #thethriftyissue #barefootinvestor #ozdebtfree #budgets #makemoney #sidegig #present #frugalliving #frugaltips #moneysmart #moneytips #aussiesofinstagram #melbourneblogger #financeblogger #fincon #financialdomination #fire #financialfreedom
Last year I got a surprise $100 gift card in the mail and asked on Instagram what you would do with it. I haven’t used it yet, but have thought about how you could use $100 to invest and get even more. This post may contain affiliate links for products and services I use. Read my full disclosure here.
1. Invest and get the signup bonus
Raiz and Spaceship are two apps for investing which use small amount and you can get an instant bonus. With $5 on each to invest you can immediately get $22.50 ($2.50 on Raiz here and $20 with the Spaceship Voyager App with the code KTRAVERS9DU ). Continuing to invest is key here though. Without more payments going in, the money will diminish due to fees in Raiz or not increase much with either of them. However, if you continue to invest, you can earn more than through a high interest savings account sometimes. Or, you can sign up, get the bonus then leave later. Personally, I prefer to invest like this rather than put money in a high interest savings account at the moment.
Udemy is one place with loads of courses to help you learn more and they frequently slash prices to just $15! This means you could do more than one course and some come with certificates so you might be able to use them to get a pay rise, change careers or pick up a great side gig.
Another educational option is books! I read daily and it is so important. Here are 13 books I think all mums should read.
3. Start a business
Did you know you can start an online business for under $100? I wrote about it here. My site is hosted with SiteGround, I got my domain name from Crazy Domains. It’s free to get an ABN and set up your social channels. The biggest expense is actually registering your business name and getting insurance. You could be a VA, freelance writer or offer other online services and be set up quickly for under $100.
4 Get a resume refresh
If you are job hunting, having a killer resume is crucial. You can DIY it but most people I know who have landed the jobs they truly want used a professional resume writing service. Cover letters, selection criteria’s and your LinkedIn profile can all be redone by someone else to help you land a higher paying job.
5. Get discounts
Buy The Entertainment Book if it is something your family will use (there are quite a lot of discounts) or look at other discounts and freebies. E.g. Get $50 off a HelloFresh Box here (so you only have to pay the difference) or $35 off a Marley Spoon box here. Lots of discounts like this can save you more than the $100 you had originally, making your money go further. Groupon is another great option for massive discounts.
6. Invest at home
What could you buy or have you wanted to buy that would save you time, money or make life nicer? Some items such as a slow cooker can save you long-term on groceries. Other items such as quality pillows, sheets and linen (Adairs has a sale) increase your quality of sleep. When we sleep well, we make better decisions including reduced impulse buys and we eat better.
Other options include activewear (I love the Active Truth range as they have something for a variety of shapes and sizes, including maternity) or exercise equipment. I use a yoga mat and kettlebell at home, both of which are under $100 total. These things will help you improve your health which in turns saves money on medical expenses.
If you spend a lot on feminine hygiene, you could consider Modibodi. I switched last year and was surprised. Think about what purchases would help you save money then as you save, put that money into savings to make your $100 go even further.
7. Treat yourself
When is the last time you had time for yourself or went away? See if someone can have your kids overnight (even if it means they stay at a few different friends places if you have more than one or two kids) and go somewhere. It doesn’t have to be expensive and yes, you can do a staycation, but the reason I recommend getting out of the house is because if we are home, we tend to do stuff e.g. clean. By being out of the house we are forced to take a break of sorts.
Get timeout, use this $55 discount with Airbnb and book somewhere for you! Grab a wine if you want and do whatever you want to switch off and recharge. The value cannot be measured!