4 creative ways to find money to invest

Looking to uncover extra money in your budget for investing? Try exchanging old gift cards, selling things you don’t need, and taking a closer look at your monthly expenses.

October 14, 2021

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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.

1. Turn your 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 Plynk, you can turn that stale gift card into money to invest—a much better use of it, if you ask us! You can make gift card exchanges with over 200 brands right in the app.*

2. Sell things you don’t need.

Here’s a perfect rainy day activity: Dive deep into the back of your closets and drawers and see what random things you haven’t gone looking for in a while.

You’d be surprised what used items people are willing to pay for (think shoes, books, clothes, furniture, home decor, storage containers, computers and cell phones, speakers, tools, sports gear … the list goes on!)

Check out online services like Craigslist, eBay, Poshmark, ThredUp, DeCluttr, Mercari, and Facebook Marketplace to help you sell whenever you’re ready.

3. Take a closer look at your 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: Am I watching TV shows and movies on all my streaming services, or just a few? Do I need daily updates from 2 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.”

4. Put unexpected windfalls to use.

Do you ever get a $20 bill from your grandma on your birthday? How about a tax refund, or a bonus at the end of the year?

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 Plynk, 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. So why not start today?