Spending Money Wisely Is an Art Unknown to Many. Here Are 15 Smart Ways of Spending $1000.
Sometimes life gives you lemons, sometimes it gives you $1,000! Whether it’s from a work bonus, a birthday gift, or an insurance pay out, we don’t care. What we’re here for is to give you 15 ideas for how to spend the money with a billionaire mindset before you go and upgrade your phone again or get an even bigger flat screen TV.
Here are 15 Things To Do With $1,000.
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Get Away from the City with Your Parents
Picture a weekend escape to the mountains, log cabins, wood fire and cosy games of scrabble… Or sipping mimosas on a white sand beach as you soak up the sun and smile across at your parents enjoying the same view.
It’s one of the greatest moments of arrival into adulthood when you can spoil your parents. Parents rarely get time off, so it can be a great time for them to disconnect while you reconnect.
Fix Something In Your House That Makes Your Life Annoying
We all have that one thing that drives us nuts every. single. day. A rattling window, a sticky door lock, or a sh*tty mattress. These small but important things can cause us everyday discomfort and anxiety that we don’t need. I’m sure if you think about that thing it drives up a rising sea of irritation.
Time to end the annoyance. You might have 99 problems, but not having $1,000 to fix them ain’t one.
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Spend It on Your Body
We’re not talking about a spa day; we’re talking about the medical procedure you have been putting off because medical procedures always come last in the budget. That broken tooth, having a skin specialist give you a full skin cancer screen, or a solid few sessions of physio to sort out your shoulder ache.
Your future body thanks you.
Make a Dent in Your Debt
Debt worries can rob us of happiness. Watching your debt keep growing as it earns interest and your earning power get weaker is so depressing. Use your $1,000 wind fall to squash some of your loans and get closer to debt free living… it’s just another step towards billionaire status.
If you can’t transfer your debt to low interest arrangements, then start by paying off your highest interest earning debt first.
For more on living debt free listen to: The Spender’s Guide to Debt-Free Living by Anna Newell Jones. Go to alux.com/freebok and get a free audiobook when you sign up!
Pay Up a Monthly Subscription
If you have some monthly subscriptions that you don’t want to let go of because they are valuable to you, perhaps a tennis club or online newspaper you love. Whatever it is, it can also lead to some guilty feelings when you have a tight time financially. Treat yo’self and pay up those subscriptions with a $1,000 advance. Then you can enjoy them guilt free because they are all paid up.
Make a Substantial Donation
Why not give it away! Yup you heard right, take that $1,000 and pay it forward. If you spend money on others that is money well spent.
If you already have a charity or a cause close to your heart, that’s great, but if you’re not sure then it might be a good chance to see who is doing work for good in your hood. Or take a browse on GoFundMe and see if any causes speak to your heart.
If none of those sounds appealing, why not use the funds to clean up a local park and plant some trees or start up any other project where you see a need that if you spend money, it could help solve. It might open a new door in your life.
Take Those Lessons
Take that $1,000 and turn it into something priceless: a new skill.
Whatever it is you always wished you could do, $1,000 worth of lessons will take you pretty far in kick starting your education. Dancing, horse riding, fashion design, playing an instrument, programming, golf, or photography… all these add a new dimension and substance to your life with a new skill and a new group of peers.
And as a bonus side note: If you’re single and have always wondered where people meet people, it’s in groups of people where you have something in common, just like this.
Upgrade Your …
Does it always seem like your luggage is just not the right size, or you’ve been “getting by” in your sports with sub-par gear, or camping has lost its joy because your gear is all a bit tired.
Well, use this $1,000 to do a decent upgrade of something that makes your adventures more fun and less fuss.
There is no denying that equipment doesn’t make the adventure, but seeing as you’ve got this little bonus, it’s a great time to spend it on the type of upgrade that will make you more likely to travel more.
Fix Your Car
We’re in the middle of a global pandemic, and the financial outlook is a little uncertain, so for now you’re doing the right thing hanging onto the car you have, rather than upgrading if you’re not 100% sure you can afford it.
But if you’ve been getting by with “temporary” fixes to your iron steed, then use this unexpected cash flow to get your car looked, diagnosed, and fixed to its former glory. Nothing is better than knowing you have a reliable ride.
Invest In Crypto
This might be just the time to kick start your crypto investing journey.
Every time something this radical comes along; things seem complicated and confusing in the beginning.
That’s why we did all the hard work for you, and we built Bitcoin Essentials.
In our opinion, it’s the best blockchain and bitcoin resource for those of you who want to get started with crypto.
Go to alux.com/bitcoin and enrol now!
Add It to Your Retirement Annuity
If you don’t want to spend it, money saved is magnetic. If you don’t believe us, then take this $1,000 and put it into your retirement annuity or another long-term fund. It’s addictive when you see lump sums make a huge difference at the end of a year of compound interest. The joy of RA is that they are tax incentives, so on top of you not having to spend your money, they keep it cosy with some nice tax returns you can add to it.
Start Your Emergency Fund
We’re not saying you have to go full doomsday prepper on us, but it’s great to have a nest egg that you can turn into an action plan if you run into an emergency.
Just the joy of knowing you have a little extra can make your everyday a lot easier. Keep it a nice round $1,000 and let it grow in interest upwards rather. Don’t be tempted to dip into it when the pizza cravings come knocking or it will be gone before you can say “extra peperoni.”
Upgrade a Big Appliance
Another bug bear that can take the sunshine out of everyday living is having an unreliable big appliance. Something like a dodgy stove or fridge can mean daily food wastage or disappointing dinners.
Or spend your $1,000 to bring the ultimate peacemaker into your home AKA the dishwasher and bask in its powerful chore reducing powers.
Add Security to Your Life
If you have been living by the seat of your pants, believing that “the big one” will never hit, your house will never get broken into, or you won’t die with debt, then this $1,000 could help you a lot. Life Insurance, Home Insurance, security system or salary insurance can buy you peace of mind and add a great layer of security to your life and wealth.
If you want to know how money can add security to your life, check out Purpose of Wealth (2): Security.
Boost Your Own Business
$1,000 in a side-hustle can buy a huge amount of progress. That could be a kick-ass website, some solid google marketing gain, or paying towards a prototype. We’re all about being future focussed on building your billionaire journey here at Alux, so invest in your future self now.
What would you spend an unexpected $1,000’s on?