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3 ways to find money to invest

Looking to uncover extra money in your budget for investing? Try exchanging old gift cards, taking a closer look at your monthly expenses, and putting your tax refunds to use.

April 6, 2023

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When it feels like there’s no more wiggle room in the monthly budget, you may need to get creative about how and where to find some money to start investing. Here are 3 tips to get you going:

1. Turn unused gift cards into money to invest.

Many of us have that one unused gift card that’s sitting in our wallet, junk drawer, or at the bottom of the purse. Maybe it’s for a restaurant that’s too far away, or a store you never shop at.

With the Plynk® app, you can turn that stale gift card into money to invest—a much better use of it, if you ask us! The Plynk app lets you make gift card exchanges with over 200 brands.*

2. Take a closer look at monthly expenses.

Recurring expenses can really add up over time—like streaming services, news subscriptions, utilities, phone bills, and gym memberships.

That’s not to say you should go “cold turkey” and cancel everything immediately. Instead, look closely at what services you really use.

Ask yourself questions like: Am I watching TV shows and movies on all my streaming services, or just a few? Do I need daily updates from multiple news outlets? Am I going to the gym often, or could I do a similar workout at home?

Finally, negotiate your bills. Oftentimes customer service reps are willing to offer a lower rate in order to keep your business. If they’re unwilling to lower your bill permanently, ask if you can take advantage of a current sale or promotion. It’s worth a shot! After all, the worst they can say is “no.”

3. Invest with tax refunds or other unexpected windfalls.

Do you ever get a $20 bill from your grandma on your birthday, or a bonus at the end of the year? How about a tax refund? Roughly 75% of all Americans get a refund after filing their taxes, often averaging a few thousand dollars.1

These one-off windfalls of cash may be perfect to invest because they’re not likely already factored into your budget. Consider investing them soon after you receive them, so the money doesn’t hang around in your account tempting you to spend it.

Keep in mind: No matter where you find extra money to invest, you don’t need a lot to start. With the Plynk® app, you can invest with as little as $1. And the sooner you start investing, the more potential your money has to grow over time, so the most important thing is that you take the first step. Why not start today?

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