17 Ways to Start Investing with $100 or Less
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9. Stash
The Stash app will allow you to start investing in ETFs with as little as $5. It’s aimed at people who are new to investing and will align your money with projects that match your belief system. For example, you can choose to invest in ‘Clean & Green’ which is a collection of companies that produce solar, wind, and other forms of renewable energy. Stash is free for the first month, then costs just $1 per month after that.
10. Travel
Seeing the world is a great investment for your mind and soul. Life experience is just as important as money earned, after all. Putting the money towards a family vacation is also a great idea, especially if you’ll be using one of these ideas to grow your funds first.
If you’re a frequent flyer it could be a good idea to invest in something like the Recheck program so you can get through airport security much faster. However, not all international airlines will honor the program, so check your route before you commit.
11. Index Funds
Index funds are a popular choice for newbie investors as your money goes to hundreds, if not thousands, of companies so the risk factor lessens. You can invest in index funds using a Roth IRA, and watch your money grow.
12. Debt
Before you can start to grow your wealth, you’ve got to pay off your debts. Paying off your debts is the best-guaranteed return you will see on an investment. So, take your $100 and put it on the highest interest rate debt that you owe.
13. Charity
Investing in somebody else is a great way to give back. You could use the money to mentor a child or a teenager who needs a good role model, or a charity that is close to your heart.
14. Thrift Savings Plan
This type of retirement account is available to service members and federal employees. The Thrift Savings Plan is similar to a 401(k) in a lot of ways, as its contributions are tax-free.
15. Roth IRA
Aside from your 401(k) with company match, a Roth IRA is a very sturdy retirement account. Compared to a traditional IRA, you pay the tax upfront – which means that withdrawals from your nest egg are completely tax-free. However, the most you can contribute in one year is $5,500, but your $100 investment is a great start.
16. Start a Blog
If there is one thing that can change your life, it’s a blog. You can spread your message as well as making a lot of extra money. It’s also far cheaper than $100 to get started. Now, all you need to do is decide what you are going to write about.
17. Online Courses
While you can learn a heap from reading books, online courses are even better. It’s also way cheaper than going back to college – student loans are far too costly these days. There are thousands of courses you can do from the comfort of your own home, on many different topics and skillsets.
Good luck with your $100 investment – now here are 6 investments you should avoid!
