if i make $90

2 min read 16-01-2025

What Can I Do With $90? Smart Ways to Spend or Save Your Money

Making $90 might not seem like a lot, but it can be a significant amount depending on your circumstances. Whether it's from a side hustle, a gift, or found money, this guide explores smart ways to use your $90, focusing on both immediate needs and long-term financial goals.

Immediate Needs vs. Long-Term Goals:

Before diving into specific options, consider your current financial situation. Do you have pressing needs that require immediate attention? Or can you allocate some or all of the $90 towards building a financial foundation?

Addressing Immediate Needs:

Essential Bills: If you're facing overdue bills (utilities, rent, etc.), prioritize paying them down. Even a partial payment can improve your credit score and avoid late fees.
Groceries: $90 can significantly supplement your grocery budget, especially if you’re working with a tight budget. Plan your meals strategically to maximize your spending.
Transportation: Need gas money to get to work or an important appointment? Prioritize transportation costs over discretionary spending.
Medical Expenses: Unexpected medical bills can be stressful. If you have outstanding medical costs, allocate some or all of the money to help reduce the burden.

Investing in Your Future:

If your immediate needs are met, consider these options for building your financial security:

Emergency Fund: Start or contribute to an emergency fund. Even small amounts add up over time, providing a safety net for unexpected expenses. Aim to save 3-6 months’ worth of living expenses.
Debt Reduction: If you have high-interest debt (credit cards), use the $90 to make an extra payment. This will reduce the overall interest paid and help you become debt-free faster.
Savings Account: A savings account offers a secure place to store your money and earn a small amount of interest. This can be a stepping stone to larger savings goals.
Investment: Although $90 is a small amount, it can be a start to investing. Explore micro-investing apps that allow you to invest small sums of money in stocks, bonds, or other assets.

Smart Spending Choices:

If you have some room for discretionary spending, consider these options:

Experiences: Invest in experiences rather than material possessions. A fun outing with friends or a relaxing activity can boost your well-being.
Self-Improvement: Use the money for a book, online course, or workshop that helps you develop a new skill or improve an existing one.
Small Purchases: Perhaps you need a new item for your home or a small repair. Use the $90 wisely for essential items that improve your quality of life.

Making Your $90 Count:

Regardless of how you choose to spend or save your $90, remember these tips:

Budgeting: Track your income and expenses. This helps you understand your spending habits and make informed financial decisions. Many free budgeting apps are available.
Financial Goals: Set clear financial goals (short-term and long-term). This will help you prioritize your spending and saving.
Financial Literacy: Continue learning about personal finance. Understanding basic financial concepts will empower you to make better decisions with your money.

Your $90 can be a stepping stone to a brighter financial future. By carefully considering your needs and goals, you can make the most of this money and build a strong financial foundation. Remember, even small amounts can make a big difference when managed wisely.