6 Best Ways To Spend $100 in Your 30s
Written by
Angela Mae
Edited by
Amber Barkley
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You might not think $100 is a lot, but it can go a lot further than you think if you invest it in the right way. And investing doesn’t necessarily mean you’re putting the money into an index fund or cryptocurrency — though that’s certainly an option, too. It might be as simple as paying for a course to improve your skills.
Simple or complex, these are some of the best ways to spend $100 in your 30s. Also, find out how to build wealth in your 30s.
Professional Attire
Having professional clothes is a no-brainer when you work a traditional 9-to-5. But it’s still a good idea to have a few decent outfits even if you work for yourself. This is the case whether you’re a professional consultant, a freelancer who primarily works remotely or a small business owner who regularly meets with clients face-to-face.
When you have a professional outfit — like a suit — you can more easily dress to impress in those client-facing meetings. Sometimes, dressing professionally can also make you feel more confident or ready to succeed.
Of course, how many outfits you need depends on your situation. You might find that having even one decent professional outfit is enough to get you started. You can wear it to interviews, meetings and, of course, work. If you need to spend more than $100 to purchase more outfits, you can always do that later on.
Emergency Fund
Financial expert Dave Ramsey suggests beginning with a $1,000 emergency fund, calling that amount a “starter” fund. But to get to $1,000, you need to start with what you’ve got. If that’s $100, that’s okay. The point is to have a little extra for those “just in case” moments. You can build up later.
With $100, you might be able to cover smaller unexpected expenses, like a sudden trip to the mechanic or a small medical bill. You might also be able to cover groceries or a utility bill that’s higher than anticipated.
As you start saving for your emergency fund, you may want to stash that money in a high-yield savings account, where it can grow more quickly. Keep putting away those hundred dollar bills throughout your 30s, and you’ll eventually have a fully maxed out emergency fund — which many experts say is three to six months’ worth of living expenses.
Financial Literacy
The saying that it takes money to make money is often very accurate. And while it’s just a start, $100 can get you on the path to financial success — especially if you use it to further your financial literacy.
“Your money spent on things that will teach you how to grow your money and manage your money is the best $100 you will ever spend,” said Ketti Rose, the CEO of Wealthy Femme.
Rose suggested starting by picking up a couple of books: “The Intelligent Investor” by Benjamin Graham and “The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns” by John C. Bogle.
Investing
Your 30s is a good time to start investing if you haven’t already. The good news is that you don’t have to have a ton of money to get started. And in fact, you don’t want to put off investing if you can help it.
“Put $100 … in a low-cost index fund, such as S&P 500,” said Rose. “Small, regular contributions can add up immensely over the years, with compounding playing a key role.”
There are plenty of low-cost investment strategies to choose from, but stocks are definitely one way you could get started.
“Your 30s are the decade when you build momentum toward financial independence,” said Rose. “You can purchase fractional shares for as little as $100 on platforms like Fidelity or Vanguard. … Invest in companies or funds you believe in and let your money work for you.”
Even $100 could potentially grow to a significant amount over time. Rose calculated that a $100 investment each month for 20 years would grow to over $63,000, assuming a compound annual growth rate of 10% and an annual rate of return.
There aren’t any guarantees, but even smaller returns are better than nothing — or that original $100.
Inexpensive Tablet
You might not get the best device with $100, but some refurbished tablets go for about that amount. Once you have one, you could use it to launch a small freelancing gig or business of your own.
For example, you could use the device to set up a shop on Etsy or a similar website where you can then start selling items you create or have on hand. Or you could use it to build a website of your own. You could even use it to get started with basic creative pursuits like freelance graphic design — if the specs allow — or writing.
Skill Improvement
Along with improving your financial literacy, you should also invest in yourself and improving your skills.
“Investing in yourself is the best investment you can make,” said Rose. “Invest $100 to get yourself a professional certification, or do a skill-building course. The higher your skill set, the greater your earning potential; the higher your earning potential, the more income you have to save and invest over time. For example, acquiring a new tech-level skill or advancing your proficiency in your career could lead to promotions, higher-paying positions or side gigs.”
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