When I used to think of investing money, I always thought you had to have a large amount of money to start. I figured if I didn’t start with $5,000 that it wouldn’t be worth it. Now (after a couple decades) I finally know that’s a really silly way of thinking about it. You can invest in yourself in many ways with just $5.

5 Interesting Ways to Invest $5 in Yourself

5 Interesting Ways to Invest $5 in Yourself. - via LiftingMakesMeHappy.com

Save $5 per week. Set up an automatic savings account and set up a transfer for $5 per week so it’s on autopilot. You’ll probably hardly notice “losing” that $5 a week but it’ll add up nicely in a savings account without even having to think about it. If you saved $5 a week for a year that’s $260. You could use that to pay for registration fees for your vehicle or go clothes shopping for yourself. You can take this one step further and automatically save $5 per day (or $35 per week). That’ll add up to $1,820 after one year.

Start an IRA. Did you know you can start a Roth IRA online in seconds? I always thought you needed a lot of money to start one but that’s definitely not the case. Depending on where you open an IRA account you may need anywhere from $5 – $3,000+. I just recently started one with Capital One Investing (affiliate link) and I got the ball rolling with an initial opening deposit of $10 and I set up automatic weekly transfers of $5 from my regular checking account. I’m currently throwing money at debt (mostly student loans) and once I get those balances to $0, I will be able to throw more money at my IRA. Debt stinks.

Hire someone on Fiverr. If you need any tasks completed that are better suited for somebody else, pay $5. It’ll save you time and it’ll cost you five bucks. I recently hired somebody on Fiverr to move my blog to a new host. That’s dirt cheap y’all. It saved me LOADS of time because I have absolutely no idea how to do that without making a big mess and they probably enjoyed it because they know how to do it. And everything was transferred successfully.

Gain more knowledge. Knowledge is power and nobody can ever take it away. Research books on investing, business or whatever you’d like to learn more about. What you learn will be worth way more than the $5 you invested. Just be sure to grab a great book and actually apply what you’ve learned. My favorite way to do this is to visit Amazon.com (affiliate link) and read book reviews to find out what people liked (or didn’t like) about a particular book. After you read a book, you can re-sell it to recoup some of your cost and use that to purchase another book. I also love audiobooks! (Those are usually more than $5 though)

Plant seeds. You can grow flowers or start a garden very cheaply by growing from seed. It will be beautiful to look at, it may increase your property value, you’ll be helping the planet and you may be able to harvest what you’ve planted to eat later on. Om nom nom.

Mindi

Q. What are your favorite ways of investing in yourself? What other ideas can you come up with that “cost” just $5?

*This post does contain affiliate links. You can view my disclosures here.

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