I’m a Shopping Expert: This Is the Best Way You Can Spend an Extra $20 Each Month
Written by
Andrew Lisa
Edited by
Ashleigh Ray
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If you’re considering expanding your monthly budget, you might want to do it slowly to make sure your income can support the extra spending.
$20 might be a good place to start — but the key is to make every dollar count.
GOBankingRates spoke with two shopping experts who offered insight on the best ways to put $20 extra dollars per month to good use.
Reusable, Multi-Use Products
Shopping expert Steve Pogson, the founder of First Pier, an e-commerce growth agency based in Portland, Maine, has spent more than two decades analyzing consumer trends and purchasing decisions, “particularly when it comes to making the most of a modest budget,” he said.
“One underrated way to leverage an extra $20 is by purchasing reusable or multi-use products from platforms known for their sustainability initiatives, such as Etsy or package-free shops,” said Pogson.
“For instance, investing in a high-quality reusable water bottle or shopping bags might seem trivial, but over time, these purchases reduce the need and cost associated with buying single-use plastics, aligning with a more sustainable lifestyle while saving money in the long run. Our analyses at First Pier have shown that conscious consumers tend to save more by cutting down on recurring expenses on disposable items.”
Purchases That Enhance Productivity
Pogson thinks $20 is money well spent if it enhances personal productivity or indirectly saves money.
“For example, ergonomic enhancements to your workspace, like a better mouse pad or a plant to improve the air quality and mood, may seem like luxuries,” he said. “However, they can significantly boost productivity and well-being, leading to better work outputs and potentially even earnings in the long term.
“From the e-commerce trends and data we’ve encountered, making small, deliberate investments in one’s daily environment can lead to disproportionate returns in terms of productivity and personal satisfaction.”
Anything You Planned To Buy That’s Currently on Sale
Pogson thinks it’s always wise to stretch $20 further by using it to buy things you already wanted or needed that are being sold at a discount.
“Given the dynamic nature of the e-commerce landscape, keeping an eye out for flash sales or limited-time offers on necessity items through reputable online retailers can turn that $20 into much more value,” he advised.
“Tools and platforms that alert you to such deals can be crucial. In practice, we’ve advised businesses on the power of timely offers and seen how customers who capitalize on these deals can stretch their dollars further, achieving significant savings on high-quality products.”
Beneficial Subscriptions
Online shopping expert Sarib Rehman, founder of e-commerce platform Flipcost, specializes in consumer purchasing decisions, “especially within tight budgets,” he said.
He suggests one of the best ways to spend 20 extra bucks is to invest in subscription services “that provide continuous value.”
Rehan provided this example, “a subscription to a high-quality meal planning service can not only introduce variety into your diet but could also save money in the long term by reducing food waste and unplanned restaurant expenses. This isn’t just guesswork. Analysis of consumer spending behavior on Flipcost.com has shown a notable appreciation for services that optimize daily expenses.”
Bulk Purchases
Rehman says you can stretch $20 with bulk purchases of items you regularly use, like toiletries or non-perishable foods, particularly when offered at a discount online.
“By planning purchases around these deals, your $20 can stretch much further than if spent in traditional retail settings,” said Rehman. “Our data consistently indicates that consumers who adopt this approach see significant savings over time…”
Education and Self-Improvement
Rehman thinks one of the best ways to spend $20 is to put it toward a monthly investment in yourself. Regardless of how — be it an e-book, an online course or a subscription to an educational platform — Rehman advises people to invest in self-improvement.
“…investing in self-improvement not only enriches your personal life but may also open doors to future financial opportunities,” he continued. “In my experience, I’ve observed the long-term value that knowledge and self-enhancement can bring, often far exceeding the initial investment.”
According to Rehman, the key to capitalizing on your extra $20 lies in focusing on purchases that offer ongoing returns, “whether through savings, earnings or personal growth.”
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