5 Smart Ways to Use an Extra $100

I don’t know about you, but it’s not all that often extra money just falls into my lap. So, when it does, I always plan to use it the best way possible. You may be one of those people that gets extra money all the time, and if so, make sure you are maximizing it! I’m sharing 5 smart ways to use an extra $100 that may fall into your lap.

It’s Not the Amount that Counts

Let me ask you a question…and, be honest with me. When you read the title and saw the amount $100, what did you think? Are you the type of person who thinks that an extra $100 won’t do much for your situation? Or, are you the type of person who thinks you will take what you can get?

I ask because perspective, in finance and life, is very important. Seeing the glass as half empty is going to lead to going through life with the perspective that you’ll never have enough. On the other hand, seeing the glass as half full helps you appreciate everything (large or small) that happens in your life.

When you are struggling to get a handle on your finances, having a glass half full approach is so important. Practicing positivity will allow more and more positive things to come your way. An extra $100 may not seem like a lot, but it’s not the amount that counts. It’s what you do with it.

Okay, I’m officially off my soapbox. 🙂 Let’s dive into 5 smart ways to use an extra $100.

5 Smart Ways to Use an Extra $100

Save it

This may seem like a “duh” suggestion, but you’d be surprised at how many people would actually spend that $100 on something they don’t need. If you have nothing, or very little, in your savings account, an extra $100 can help down the line. We never know when something is going to come up, so any opportunity you have to put funds aside for unexpected expenses will help.

Apply it to debt

Guess what, you can make an extra debt payment anytime you want! If you have already reached your savings goal, and want to be smart with your money, put the extra $100 towards a credit card or other debt payment. Debt accrues interest on a daily basis, so getting that balance down as quickly as possible will help you save money over time.

Pay a bill early

Imagine if you didn’t have to pay a bill next month because you already paid it this month? Wouldn’t giving yourself an extra $100 next month make you happy? Let that extra $100 help you in the future by paying a bill early. You don’t even have to use the full amount (or you could and pay it multiple months in advance). Giving yourself one less bill to worry about in the future is a very smart financial move!

Invest in yourself
Is there a class you’ve been wanting to take? Maybe you’ve wanted to purchase a CGS Budget Plan. Could you attend a virtual or in-person workshop to help you develop personally and professionally? Investing in yourself is one of the best investments you can make. If an extra $100 comes your way, using it to improve your own well-being is not a bad idea.

Pay it forward

Do you have a friend or family member who would kill to have an extra $100? Are you in position where they need it more than you do? I’m a firm believer in the thought process that you can’t help others until you help yourself. However, if someone close to you drastically needs that $100 (or a portion of it) more than you do, you may change their world around. Don’t ever forget about the power of helping others.

Where to Find an Extra $100 in Your Budget

What if an extra $100 just doesn’t cross your path? That doesn’t mean you can’t find it your own way! People truly underestimate the power of reassessing their budget and tightening things up a bit. If you don’t want to wait for an extra $100 to come to you, here are a few ways to find it yourself:

Cut discretionary spending

Anytime a client of mine is in need of extra cash, I always suggest cutting back the discretionary spending areas. These are things like dining out, shopping, entertainment and activities, or other types of purchases that aren’t necessary for living. Cutting back the discretionary period, even for a short amount of time, can help you find more money in your budget.

Sell some stuff

Maybe cutting back spending isn’t an option for you right now. No worries, you can always focus on making more money! If you have old or unused (and unwanted) items lying around your house, why not post them for sale on Poshmark or eBay and make some money off of them?! There are other ways to make money outside of selling stuff, just get creative!

If you want a few more ideas on how you can find an extra $100 in your budget, check out these articles:

10 Ways to Find More Money in Your Budget

Make the Most of Every Paycheck

7 Ways You’re Wasting Money

8 Things to Stop Spending Money On

Need help with your budget? Schedule a free consultation with me today!

Remember, if you are lucky enough to have any amount of extra money come your way, make sure you use it wisely! There are plenty of smart ways to use extra money, and the ideas above can help! What do you do when unexpected money comes your way? How do you find extra money in your budget? Post a comment below to share!

The CGS Team



Leave a Comment

Your email address will not be published. Required fields are marked *

twenty − nine =

Related Posts