RE/MAX 440

Judy Kistler
Home
My Listings
View Area Listings
Inside Tours
Mortgage Info
Community Info
School Info
Helpful Links
About Me
My Blog
Contact
Login



Judy Kistler
4789 Route 309 | Center Valley, PA 18034
Phone: 610-393-9393 | Office Phone: 610-791-4400 | Fax: 267-354-6225
email: jkistler@remaxcentralinc.com
< Back to Judy Kistler's Blog

5 Wise Ways to Use $100

September 30, 2016 2:12 am


Maybe you got a tax refund. Maybe a friend paid back an old debt. Maybe you got from one paycheck to the next and—amazingly—had $100 left over. You may be tempted to blow your windfall, but $100 doesn’t buy all that much these days. Far better, according to The Motley Fool, is to use that $100 in one of these 5 wise ways:

1. Start/Add to an Emergency Fund – Surveys reveal a shocking number of Americans do not have enough money set aside to cover a $1,000 emergency. Ideally, an emergency fund should hold three to six months of living expenses.

2. Start/Add to a Retirement Fund – It may not seem like much, but if you were to put that $100 in a 401(k) or IRA and choose investments that generate an average annual 8-percent return, after 40 years, it would amount to almost $2,200!

3. Pay Down a Credit Card – Carrying a credit card balance, no matter how small, means losing money every month to interest. Granted, that $100 on its own probably won't save you a lot in interest, but it will get you one step closer to becoming debt-free.

4. Buy Stock – A single Ben Franklin won't make you a fortune in the stock market, but you can use it to open a low-cost, no- or low-minimum brokerage account and start investing for your future.

5. Invest in Yourself – If a certification or skill is standing in the way of a higher salary, use that $100 to pay for a course or license that helps you command more money—if a $100 online web design course results in a $1,000 bump in salary, that’s a 900-percent return on investment!
 

Published with permission from RISMedia.