Most people wouldn’t mind an extra $1000 in their hands right now. But before you go planning to spend it on a manicure or an elegant dinner, consider other things you might do with $1000 from a personal loan, an inheritance, or your lucky lottery ticket. There are infinite ways to spend it, these ones might actually give you something in return.
Invest in Cryptocurrency
You may know nothing about the cryptocurrency market, but the truth is that it’s not going anywhere. So, whether you use your $1000 to learn more, to make a few investments, or to bump up your current assets, putting your money into the right coins can give you a good return later on. Because the market can be volatile, it’s best to simply leave your money in for a while until you earn a profit.
Pay Off Debt
Do you have little debts like store credit cards lingering? What about the last bit of your student loans that are hanging on for dear life? While $1000 might not seem like much, it can make a big dent in the amount of interest you pay and can help you pay less overall for the debt. Paying off debt means that you’ll have more money in your monthly budget to help with things like emergencies and to offset the rising costs of living.
Set It Aside in Savings
Not sure what to do with it? Put it in savings. While you’re waiting to decide how to spend your windfall, you might come up with some ideas that can increase your money as well. Learning to make your money earn you more money is a great skill. Plus setting it in a savings account means that you are less likely to waste your money on unnecessary things. Some banks offer high yield savings accounts where you can also earn more interest.
Take a Weekend Trip
Has it been a while since you got away? Why not plan a weekend away? You can find great deals at state parks if you enjoy camping, at hotels if you prefer to stay indoors, and at amusement parks as well. Driving 5-6 hours from home could yield some great options for getting away over a weekend. A mental health break to do something fun is great for your morale and your energy. Sometimes getting bogged down by work and your mundane routine can keep you from enjoying life the way you should. Getting away with a relaxing trip is the perfect way to spend your $1000.
Start a Small Business
Want to get out of the 9-5 routine? You’ll need to start your own small business. Fortunately, there are plenty of business opportunities out there that don’t require a significant amount of startup costs. Just $1000 can do a lot. Using your skills and talents or another resource you already have to start your small business can give you an edge in the market. You don’t need to learn something new, instead you can create services or products using what you already know.
Take a Certification Course
Want to invest in your future? Then get new professional certification. These certifications can qualify you for new roles. They can improve your earning abilities and so much more. Investing in your learning can also help you switch careers. If you’re wanting to get into coding, for instance, you’ll want to earn one of the most recognized certifications to prove that you have the skills necessary to do the job. In many technical career fields especially, employers simply look at your certifications and less at other formal educational degrees.
Donate to Your Favorite Charity
While this might seem like it has no benefit, when you give into your community, you can feel the impact. Giving funds to a local food bank ensures that your neighbors will have enough to eat. Giving to the local animal shelters will help strays find new homes instead of being out on the streets. Giving to nonprofit organizations can also provide you with a good tax benefit at the end of the year. Donating to charity is always a good idea when you come into extra funds. It’s a way to pay it forward that may ultimately come back to you in good ways as well.
Getting an extra $1000 may feel like it’s here today and gone tomorrow. Whether you need to make some big car repairs, you need to boost your emergency savings, or you want to reinvest in the cryptocurrency market, there are many options for what to do with $1000.
