PFT #98 - Personal Finance Tip of the Week: Can You Find $100 in your Budget?

PFT #98 - Personal Finance Tip of the Week: Can You Find $100 in your Budget?

From Something On My Mind by David Mulonas

February 3, 2025 · 4 min · Season 3

About this episode

This episode challenges listeners to find $100 in their budget to invest in personal finance.

In the prior personal finance tip #97 which was how to save on the little things, we mentioned how to be awarded with Amazon digital credits for delaying delivery and we mentioned buying a monthly car wash plan. We also covered the value of buying long term products and services rather than single use items which occur multiple times. Lastly, we covered the value of buying products on the basis of consumption needs. Employing this mindset with all of your spending will watch your dollars add up. So we’d like to propose a challenge to you. Can you save $100 a month? For most people, the answer is yes and with that comes the ability to invest this money in yourself. You could do this via tax deferred retirement accounts such as 401(k)s, Roth 401(k)s, Roth IRAs, traditional IRAs and 403(b)s and 457 plans. The other option is to have an individual brokerage account where you can buy fractional shares of stock in well-known companies. For example, your $100 monthly contribution may buy $5 worth of Apple, Nvidia, Microsoft, Tesla and so on. Many companies offer this including TB Bank, Charles Schwab, Stash and Fidelity where you can also invest money any way that you choose. All you…

People in this episode

Host: David Mulonas

Topics covered

  • personal finance
  • budgeting
  • investing
  • savings
  • financial planning

Keywords

  • personal finance
  • budget
  • investing
  • savings
  • compound interest
  • retirement accounts
  • financial tips

Mentioned in this episode

Organizations: Amazon, TB Bank, Charles Schwab, Stash, Fidelity

Products: S&P 500, Vanguard’s VOO, Apple, Nvidia, Microsoft, Tesla

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