One Hundred Dollars
We don't often consider the value of a mere one hundred dollars. Not in the right context, anyways. In almost every case, if a hundred dollar bill were to appear in you, the reader's, hand at this very second, your mind would immediately look one of two ways:
Neither of these options are particularly bad, and technically, they can't be considered as "wrong", because every individual is different and entitled to spend the money that they make as they wish. That philosophy is all well and good, and for some, it probably is truly a necessity. But for the vast majority, one hundred dollars could go towards a third, far more useful option.
Assuming you work part-time, for $8.00 an hour, you could have a $100.00 in your pocket for about thirteen hours of work, or 2-3 days, depending on how many hours you work per shift. If you work full-time, making an annual salary of $40,000.00, you make over $100.00 per day. So, making the money probably isn't the hardest part of this endeavor. Making the money go where it should, however, is. Avoiding splurging on anything will be the most difficult, but being resilient and decisive in all of your decisions is one of the keys to becoming successful as an entrepreneur or businessperson. But, if you can master this skill, you are well on your way to turning your one hundred dollars into far more.
Now, let's talk about what you can actually do with your money. There are really infinite possibilities, and infinite opportunities for financial success, but a few personal favorites include:
The difference between spending and investing is a small one, but important nonetheless. Spending might provide a temporary joy, a brief sense of success, but that is soon replaced by the realization of money spent. Investing, however, is very much a long-term plan. Self-investment, stock investment, and all other types of investments are not supposed to be instant. In return, however, they are far more rewarding.
- Spend the money on fun - Go out to dinner and the club, or splurge on that thing (there's always a thing) that you've had your eye on. Work will pay the bills, let this $100 give you a day or moment to remember.
- Spend the money on necessities - Repaint that bedroom, get some new sheets and pillows, or pay off a bill or two for the month. Maybe it goes into the savings jar for that new car you need, or even, if you're feeling extra responsible, it goes into your rainy day fund.
Neither of these options are particularly bad, and technically, they can't be considered as "wrong", because every individual is different and entitled to spend the money that they make as they wish. That philosophy is all well and good, and for some, it probably is truly a necessity. But for the vast majority, one hundred dollars could go towards a third, far more useful option.
Assuming you work part-time, for $8.00 an hour, you could have a $100.00 in your pocket for about thirteen hours of work, or 2-3 days, depending on how many hours you work per shift. If you work full-time, making an annual salary of $40,000.00, you make over $100.00 per day. So, making the money probably isn't the hardest part of this endeavor. Making the money go where it should, however, is. Avoiding splurging on anything will be the most difficult, but being resilient and decisive in all of your decisions is one of the keys to becoming successful as an entrepreneur or businessperson. But, if you can master this skill, you are well on your way to turning your one hundred dollars into far more.
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| Photo by Pepi Stojanovski on Unsplash |
- Hosting a Website - There are several options that you can do here. If you're looking to go into e-commerce or online sales, you can build and host a website for only $29.00 a month, which means that your first three months would be paid for without a single sale, and you'd have time to generate a clientele. Or, if that doesn't appeal to you, or you have another e-business idea, you can purchase a domain from most hosting platforms for as low as $15.00 or so per year, and design a website for free on applications such as Wix.
- Opening an Investment Portfolio - There is a common misconception that you need to have piles of money to invest in the stock market, and that investing is only for the wealthiest people. In reality, investing can be done quickly and easily, by anyone, on platforms such as TD Ameritrade, which is my personal favorite. The only fees associated with doing so is the transfer fee, which is usually only about $5.00 per trade.
- Purchase an Online Course - In the modern age, taking the right online course can provide you with skills and experience that give you an edge in the workplace. Interested in programming? A programming course will not only teach you how to do it, but give you the tools to turn it into a profession, should you so choose. The same goes with courses on writing, real estate, investing, and so much more. Online courses and e-books are the biggest providers of the world's most important currency: knowledge, and it would be well worth the money spent.
The difference between spending and investing is a small one, but important nonetheless. Spending might provide a temporary joy, a brief sense of success, but that is soon replaced by the realization of money spent. Investing, however, is very much a long-term plan. Self-investment, stock investment, and all other types of investments are not supposed to be instant. In return, however, they are far more rewarding.
