Yahoo Finance 7 Super-Savers Reveal Their Best $100 Ever Spent
You can be a super-saver and live a frugal lifestyle but also know the value of money well spent. Thrifty people know that spending $100 on the right things can yield high returns — whether that’s personally or professionally.
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So what’s the best way you can spend a hundred bucks? Below, super-savers reveal their best $100 ever spent.
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A High-Quality, Secondhand Briefcase
“The best $100 I’ve ever invested was in a high-quality, secondhand briefcase early in my career,” said David Blain, CEO of BlueSky Wealth Advisors.
“This might seem trivial, but as a young professional in the finance sector, presenting myself credibly was crucial. This briefcase wasn’t just a container for documents; it was a signal to clients and colleagues that I was serious and prepared, a small but significant factor that helped establish my presence in meetings and negotiations,” Blain said.
“Considering my background in finance and military discipline, I’ve learned that often, the perception of professionalism can impact your success as much as your actual skills,” he explained. “This briefcase, which lasted several years, continuously proved its value by enhancing my professionalism in a practical and symbolic way, echoing my military ethos of always being prepared.”
“I also noticed a direct correlation between my self-presentation and client trust, crucial in building long-term relationships and securing referrals, which were pivotal in growing my business,” Blain added. “This reinforced an important lesson: Strategic investments in personal branding, even as simple as a reliable briefcase, can yield substantial returns in professionalism and credibility.”
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A Financial Literacy Course
“As a seasoned finance expert with a strong belief in strategic saving, I’ve found this question truly relatable,” said Jonathan Feniak, general counsel at LLC Attorney.
“Arguably, the best $100 I have ever spent was on a financial literacy course early in my career,” he noted. “It provided invaluable insights into making informed financial decisions and has played a pivotal role in shaping my financial trajectory.”
Feniak also noted a second $100 purchase that could produce significant payoffs. “Another significant $100 expenditure would be investing in a budding tech startup, a decision that significantly paid off as the company’s value surged tremendously over the years,” he said.
“Ultimately, it’s not just about the amount spent, but the value derived: These investments directly bolstered my financial acumen and net worth, demonstrating the power of proactive saving and prudent spending,” Feniak explained.
A Library Card
“I often tout the magic of small, consistent savings,” saidd Kevin Huffman, personal financial expert and owner of Kriminil Trading. “But there is also a place for strategic spending that can produce long-term payoffs.”
“My best $100 was when I spent it on a library card,” he said. “For $100, I got the knowledge I needed — literally! Books on personal finance, investments and home repair were a few of my resources.”
Huffman noted that the library card didn’t just provide him with books. “My membership replaced the impulse of spending on random things I didn’t need with the fuel of a new life of self-improvement. I read books on how to budget, how to be an effective shopper, and I did some home repairs around the house to save on repair costs,” he added.
“The $100 investment had echoes throughout my life,” Huffman observed. “Not only did it give me a much-needed asset, it also gave me the confidence to spend more wisely, save for goals and even find ways of earning more money through my newfound financial literacy.”
“If you’ve been looking for a way to stretch your dollars, consider investing in a library card. It could be the best $100 you ever spend,” he said.
High-Quality Secondhand Items
“Investing $100 in high-quality secondhand items has proven to be a wise decision for me as a finance expert who prioritizes savings,” said Michael Ashley, finance expert and founder of Richiest. “By purchasing durable goods at a fraction of their retail price, I can stretch my dollars further and save significantly in the long run.”
“These items, whether furniture, electronics or clothing, have provided excellent value for their cost and have stood the test of time, reducing the need for frequent replacements,” Ashley said.
Furthermore, he said opting for secondhand allows him to avoid the depreciation that occurs with new purchases, preserving the value of his investment. “Prioritizing high-quality secondhand items has helped me maintain a frugal yet comfortable lifestyle while maximizing savings for future financial goals,” he explained.
A Membership for an Online Financial Analytics Tool
“I often think back to the best $100 I’ve ever spent,” said Rhett Stubbendeck, CPCU, CEO and founder of Leverage Planning. “It was on a membership to an online financial analytics tool. This wasn’t just any tool, but one that transformed how we operate at [my company].”
“This $100 investment gave us access to real-time market data and personal finance insights. It’s incredible how much value we’ve derived from this tool. We use it daily to monitor trends and adapt our strategies quickly, ensuring we’re always a step ahead,” he said.
“The return on this investment goes beyond just financial gains,” he noted. “It’s about staying informed and competitive in a fast-paced industry, which ultimately benefits our clients. They trust us to manage their finances effectively, and tools like this make it possible.”
“This $100 might seem modest, but its impact on our operations has been anything but. For us, it’s a prime example of how investing wisely, even with small amounts, can lead to significant improvements in service and client satisfaction,” Stubbendeck explained.
A Personal Finance Book
“The best $100 spent often aligns with the principles of prudent budgeting and foresight,” said Karina Newman, real estate investor and owner of iBuyers. “For me, that $100 was invested in an extensive personal finance book, which served as a beacon guiding me through the labyrinth of fiscal decision-making.”
“This investment not only enriched my understanding of wealth preservation but also empowered me to navigate the complexities of the financial landscape with clarity and confidence,” she said. “In essence, the greatest expenditure transcends the tangible, nurturing a mindset of fiscal stewardship that reaps dividends far beyond the initial investment.”
A Financial Planning Software Subscription
“Reflecting on the myriad of possibilities where $100 could make a significant difference, the best $100 I’ve ever spent was on a comprehensive financial planning software subscription early in my career,” said Dennis Shirshikov, a finance professor and head of growth at Summer.
“This tool not only streamlined my personal finances but also provided invaluable insights into budgeting, saving and investing strategies tailored to my goals,” he said. “It was a pivot point for me, transforming from passive saving to active, informed financial management.”
“This decision is memorable because it empowered me to optimize my financial health proactively, leading to better investment decisions and more effective budget management,” Shirshikov added.
“This tool helped me visualize my financial trajectory, adjusting in real-time to life changes and market conditions,” he said.
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