We’re gonna be honest; we’re awful with money. Whether we impulse buy a whole wardrobe of clothes, or we buy yet another new sofa for our house, or if we just splash our cash on a new holiday – any excess money that hasn’t already been spent on bills, rent, and bare necessities will be spent on useless junk we don’t even need. Sound familiar? Well, next time you have a spare $100, this is what you should do with it.
Pay off any outstanding bills
Unfortunately, we all have some form of debt – from mortgage bills to dastardly credit card bills. Over time, all of these bills add interest, which means it’s a constant battle of paying back more and more each time. However, some of the wealthiest men in the world recommend that any spare money should pay off your debts. By paying off $100 from your credit card bill, you are one step closer to having your own money back, as well as avoiding the interest you would have paid. Bonus.
Buy more books
You don’t need to tell us twice. After interviewing both millionaires and billionaires, author Steve Siebold found all of them bought, owned and read a heck load of books. But these millionaires aren’t reading the whole collection of Agatha Christie or the latest crime thriller. Instead, they are stocking up on knowledge and recommend you use your $100 to go towards your own self-improvement and self-education. Buy non-fiction educational books, self-help books, or sign for a newspaper or magazine subscription. Expand your mind to expand your wallet.
Buy a few silver coins
Nope, we’re not pulling your leg. Business mogul, Robert Kiyosaki swears by the power of the silver coin – and not just because he can’t get enough of Game of Thrones. Although we may not notice it, Silver makes up a huge part of our daily lives and is used within computers, cell phones and more. Kiyosaki believes that buying into the business of silver will be an investment that will ‘heighten awareness about markets, commodities, and the way silver plays a role in our lives.’ If this sounds like it could be up your street, your first step is to find a legitimate coin dealer near you, making sure you find out all of the information about their coins and how much they are worth.
Give it away
We know what you’re thinking, you’ve spent all this time, energy and hard work making all this cash for us just to give it away? Of course, we don’t mean give away everything you earn, but giving away an extra $100 can pay off in the long run. Many high profile businessmen who have the cash to spend will often walk around their office, sneaking a $100 bill into an employee’s hand. Not only does this allow the employee to know they are appreciated, but they will (hopefully) work harder, and respect their boss even more. Alternatively, you can offer the money out of the goodness of your heart to help those who are less fortunate, and watch as you make a difference in someone else’s life.
When you have an extra bit of money, it can be so easy to spend it straight away on something you don’t particularly need. However, many people have made their millions by avoiding this urge. Saving up every penny you earn will, of course, all add up – and the less you spend, the less you lose. As time goes on, business ventures or items that you want will most likely become cheaper, so if you just wait for a little, you can save your money!
If you’re lucky enough to have a few extra dollars littering your wallet each month, make sure you do something worthy of it – and invest it!