In this article, we are going to talk about what are the things that you can do with 100 dollars in your bank account.
There is recent news that Facebook company has changed its name to Meta. Now all of their services are running under the name of Meta. When you think about Facebook, the person that comes to your mind is Mark Zuckerburg. But if you give it a closer look, he is just the face of the company. But the company was built by multiple talented people with different backgrounds and sets of different sets of skills.
When Facebook grew bigger and bigger and made it to the top and was worth billions of dollars, all those people who were involved in Facebook at its early stage instantly became super-rich.
Eduardo Saverin was one of those people. When Facebook was still an idea, Mark offered him to become its first investor and the first CFO by investing 15 thousand dollars into the company.
But at first, it wasn’t clear how this business could grow. But he saw the potential and decided to invest in the company. Even though Mark diluted his shares and kicked him out of the company his tiny ownership in Facebook turned him into one of the richest people on the planet when the company went public.
His 15 thousand dollar investment in Facebook turned into 18 billion dollars. That’s why you should never underestimate the power of small investments.
You don’t need to have millions of dollars to make a good investment. Of course, it’s better if you can go for bigger investments. But even a small investment can lead to huge gains if you invest properly.
But most people like you and me don’t even have fifteen thousand dollars in their bank account. Because most people live paycheck to paycheck. But, how about $100. Not a big deal, right. A lot of people can find an extra hundred dollars.
Of course, a hundred dollars is not enough to make a passive income. But, there are still multiple great ways how you can invest that hundred dollars and potentially turn it into a much larger amount.
So, if you have an extra hundred bucks, here is what you can do.
Also Read: The New Way To Retirement: Passive Income with NFTs
1. Get into Crypto
This might seem like weird advice. Because you have to be careful when it comes to crypto. It’s dangerous, risky, and unstable. But, that’s what makes it unique in the first place. If you start to learn about crypto and get to know them you probably realize, crypto is where the internet was 20 years ago. Right after the dot-com crash, it’s at that stage where it is forming its future and only time will tell what the future of crypto will look like.
There are some big players. But that doesn’t mean they are going to dominate the market. The same was with the internet. We had massive internet companies in the 1990s but you barely know them today. Because other companies have overtaken the market.
20 years ago google and amazon are little companies you couldn’t distinguish from other internet companies. But they are the ones that succeeded. So even a hundred dollar investment in such a company will turn into an unbelievable fortune.
We’ve already seen a few examples such as dodge coin. But there are going to be more. Some of the internet giants today like Facebook or Snapchat emerged much later.
So, we are still at the beginning of this process. But before you invest your money, make sure to study it and understand it. Even if you do that all, you still can get it wrong. Because it’s still its early stage.
But if you get it right, you can grow your money by a thousand times.
2. Flip
Flipping is probably one of the best side hassles anyone can start. It is easy you don’t need a lot of capital and it teaches you a lot about business. Of course, it depends on what you want to flip. If it is real estate then it is much more difficult. And you probably need a big capital to start.
But you can flip pretty much anything. That’s less than a hundred dollars. Especially today with the rise of the internet that has become much easier and faster. We have eBay, Amazon, and a million other websites that make this process easy. You can even use Facebook groups or Instagram pages to do that.
Of course, you are not going to make a lot of money. But it is a long game. Your job is to first turn that hundred dollars into 150 dollars to 200 dollars and so on.
Make sure to flip what you understand. Just because you bought something for 100 dollars doesn’t mean it sells for 200 dollars. It all comes down to understanding the market.
First, try things you’re interested in and have tried personally.
3. Invest in books
With the rise of the internet, people tend to read books less and less. And it makes sense to a certain extent. Why read a book, when you can watch a youtube video that can tell you what that book is all about. Or watch a documentary that’s filled with valuable information or you can get a quick summary from an article.
However, nothing can replace books. Here is why, when a good book is written it is deeply researched and the author probably spent years formulating his ideas in such a way that to explain to you his points.
But, when you watch a documentary it’s often done to make it as entertaining as possible because who makes that documentary targets views. If it is not going to generate enough views it is not going to pay back.
So, a lot of important details are not included because they could make the documentary boring and not easy to understand.
Although plenty of YouTubers put their soul into the videos, you have to understand that they have limited resources. They can’t afford that much into videos. Because it is not going to pay back financially. They can do that once or twice, but not all the time because resources are limited at the end of the day.
That’s why great books remain the main source of valuable information with 100 dollars, you can get yourself 4 or 5 books that will change your life, such as the “Laws of Human Nature” by Robert Greene, “Rich Dad Poor Dad” by Robert Kiyosaki. That teaches you the fundamentals of financial literacy or men’s search for meaning that will help you find why.
You are not going to see an immediate benefit. But they will positively shape your mindset and will pay back in the long run.
4. Learn a valuable skill
All it takes is one valuable skill to change your life. You can meet people who are rude or terrible but because they have a set of skills that are on-demand they still do well financially unlike knowledge, skills are far more valuable because you can use them over and over they instantly make your life better and not just stay with you in case you need them.
The internet has made learning any skill easy and simple some courses will teach you how to become a real estate agent for less than a hundred dollars.
I’ve seen great courses that will turn you from someone who knows nothing about coding into a professional coder that can build his app.
In the past, you had to go to college to learn that. But now with the development of the internet, all you need is a course for 100 dollars to do that.
5. Trade some Stocks
A lot of people keep searching about stocks or reading about the stock, hoping to start investing one day. If you haven’t bought a single stock the world of the stock market is probably quite ambiguous to you.
When you get in and start, a lot of things start getting clear. Reading and watching videos about the stock market is one thing. And investing and trading is something else.
What seems so obvious in theory, isn’t that easy in practice. When you buy a stock and it goes down right in front of your eyes, you get emotional and your brain stops working and your emotions get in charge. All that will be in your mind is to minimize losses. That’s when you learn.
The point isn’t to turn that 100 dollars into 1000 dollars. But the experience, the market because when you are trading with real money, you will be much more careful. Because your money is at stake.
It’s fun to look for the right company to throw your money in. you’ll read about many different companies, analyze their financial statements figure out their price is undervalued or overvalued, and then wake up your mind if the company is worth your money or not.
This experience is worth it. Even if you lose 100 dollars. If you decide to invest in larger amounts, at least you know how the market works. This financial literacy and capital are what separates rich people from the poor.
That’s why if you come from a rich family, you are more likely to be rich and vice versa of course. 100 dollars is not the kind of capital that can make a difference in your life. But we all have to start somewhere.
If you have 10 000 dollars, go ahead and start with that. With 100 thousand dollars, congratulations, you’ve crossed a huge milestone. If you save a million dollars, then you’re most likely safe for the rest of your life, if you manage that money properly.
But while you are on the way to building your capital, there are five ways you can use to move one step closer.