A thousand dollars doesn’t seem like a lot of money these days, but you can still get a lot of value from it if you spend it wisely. While you could go purchase a new watch or a few pairs of nice shoes, there are other alternatives that can make a more positive difference in your life.
Consider these ways to invest your $1,000:
1. Get a physical. Many middle aged and older folks haven’t had a thorough physical in many years. While it’s not a fun way to spend your $1,000, it has the potential to save you much more over the long haul by correcting and preventing physical ailments before they cost you much more than $1,000.
- The long-term savings from medical expenses can be significant.
2. Invest in an adventure. Have you ever wanted to go skydiving, whitewater rafting, or visit the ruins in Guatemala? Now might be the perfect time to finally do something adventurous that you’ll remember forever. Your new perspectives can carry over to many areas of your life.
3. Make a micro-loan. There are many websites that will allow you to make small loans to people all over the world. You get the wonderful feeling of helping someone realize their dream or help them out of tragedy. You receive regular progress reports as your money is being repaid.
- You can make money and enjoy the feeling of helping someone else.
4. Invest in your career. A professional certification might be just what you need to take your career to the next level. A public speaking course or class at the local university might be another option.
5. Consider a low-risk mutual fund. There are mutual funds that only invest in companies with the lowest volatility over the previous 12 months. These funds tend to do as well as the market overall with much less risk.
- Most of the stocks held by this type of fund pay dividends. If your portfolio is a little heavy with risk, this can be a good way to have a lower-risk investment.
6. Get in shape. When was the last time you really considered yourself to be in shape? When was the last time you were proud to walk around in your bathing suit at the pool or beach? Let this be the year that you finally get your weight and conditioning under control.
- Studies have shown that you’re less likely to get sick or die if you’re in good shape. You’ll save on medical bills many times over.
7. Weatherproof your home. Replace the weather-stripping around your windows and doors or maybe you need new windows altogether. The payoff can be great over the next several years.
8. Support your local museum or symphony. Not only can you help to support your local sources of culture, but you can also make great connections to take your career or business to the next level.
- These types of organizations can be magnets for the “who’s who” of your local area. In many cases, it really is about who you know.
9. Set the money aside for your social life. Investing in relationships can be just as important as any other type of investment.
- Take your spouse out for a date once a month.
- Even if you’re not married, getting out of the house on a regular basis is important for your happiness and emotional health.
10. Get a new computer. Is your computer several years old? Does it seem to be a lot slower than it should be? Is it crashing every other day? It might be time for a new computer.
- You’ll not only be more productive, but you’ll also be much less likely to lose your hard work when the hard drive dies on your old computer.
There are many ways to invest $1,000. Consider these ideas or make your own list. Even a relatively small amount of money can make a big difference in your life if you invest it wisely.
