$100 in to $1000: Thought Experiment

Dec 2018
1,159
349
Florida
#1
So this is a kind of thought experiment. I was talking to a friend about this. She is having some minor money trouble (car problem wiped out emergency fund). Now. No big deal as it can be acquired again with patience. But what about people looking to get that emergency fund started? Or just looking to make the cash in an efficient and relatively safe manner? Or maybe risky?

Anyone have any thoughts? What have you done? I will share some personal things I’ve done.

1) Monthly cost cut. I moved to a new place, reduced internet speed, and reduced my monthly payments to insurance.
2) Always round my bank account. It is a little game I play. I just check my account after a few purchases and move the coins to savings.
3) Same gimmick but with cash. I save coins. Then deposit them.
4) Did my own shocks on my truck
5) Not me, but a friend, has actually on 3 or 4 occasions gone and played poker or blackjack and turned $100 into $300 or $400. Always amusing because he is so patient. This local Indian casino has dumped a bit of coin to him on blackjack on like 3 occasions and he just dominates on ring games. He is a math whiz though.

Obviously gambling isn’t safe. But some people are just able to do that silly patient game once in a while. But I’m more curious what methods you might use that are different or crafty (legal) to build up a bit of spending/saving money.
 

johnflesh

Former Staff
Feb 2007
23,528
16,124
Colorado
#2
Spend $100 on live streaming equipment.
Pick a common but popular video game.
Make Twitch account.
Set up bank/paypal to accept donations.
Do a good job - welcome people, be nice, informative. Pretty if you can. Funny is better.

You're well on your way to turning that $100 into $1000.
 
Dec 2018
1,159
349
Florida
#3
Spend $100 on live streaming equipment.
Pick a common but popular video game.
Make Twitch account.
Set up bank/paypal to accept donations.
Do a good job - welcome people, be nice, informative. Pretty if you can. Funny is better.

You're well on your way to turning that $100 into $1000.
Not a bad plan, but the market is saturated. Good idea to have, but need to make sure that the idea is unique. I know a young woman who had a similar plan. But her website was...clothing optional. Wasn’t my cup of tea.
 
Jan 2014
15,636
4,056
California
#4
Mr. Remington,

No cable. But that may not be an option. Where I live, I get about 5o channels of broadcast TV.
No cell phone contract. Again, not really an option for most. I just used my phone for calls and text, and occasionally data for GPS.
Save aluminum cans.
Commute via public transportation, park blocks away from the train station where there is free parking. Walk about a quarter a mile to the station, and then about a quarter a mile from work, so get a mile of walking exercise on top of the lessened commute expenses.
Save coins, take them to bank, so I don't lose 10% by using coinstar.
Refied my Mortgage twice in 2 years, down from a 30 year 4% to a 15 year 2.75%.
I don't eat out as much for lunch and breakfast. Mostly because with the $15/hour minimum wage, the difference between eating lunch in a restaurant and brown bagging is about $5 to $10.
Eat out less for dinner, and don't order as much.
Tip less. Since waitpersons now get $15/hour, and most restaurants here (and especially in San Francisco) charge a labor surcharge, I'm back to the 15% tip.
Buy clothes only at thrift stores, and on sale.
Shop groceries with a list, and only buy what is on that list. Also, every grocery store has a clearance area. I have a standing freezer, so have no problem buying meat near its sell-by date and freezing it. Also, I shop at farmer's markets and get deals at the end of the day when they are packing up.
 
Dec 2018
1,159
349
Florida
#5
Mr. Remington,

No cable. But that may not be an option. Where I live, I get about 5o channels of broadcast TV.
No cell phone contract. Again, not really an option for most. I just used my phone for calls and text, and occasionally data for GPS.
Save aluminum cans.
Commute via public transportation, park blocks away from the train station where there is free parking. Walk about a quarter a mile to the station, and then about a quarter a mile from work, so get a mile of walking exercise on top of the lessened commute expenses.
Save coins, take them to bank, so I don't lose 10% by using coinstar.
Refied my Mortgage twice in 2 years, down from a 30 year 4% to a 15 year 2.75%.
I don't eat out as much for lunch and breakfast. Mostly because with the $15/hour minimum wage, the difference between eating lunch in a restaurant and brown bagging is about $5 to $10.
Eat out less for dinner, and don't order as much.
Tip less. Since waitpersons now get $15/hour, and most restaurants here (and especially in San Francisco) charge a labor surcharge, I'm back to the 15% tip.
Buy clothes only at thrift stores, and on sale.
Shop groceries with a list, and only buy what is on that list. Also, every grocery store has a clearance area. I have a standing freezer, so have no problem buying meat near its sell-by date and freezing it. Also, I shop at farmer's markets and get deals at the end of the day when they are packing up.
I really like the idea of cutting cable. I don’t actually have cable, but I do use the internet. My cell bill is already dirt cheap as I am on a business contrac through my father’s company (he has a bunch of family members on the contract we can all get huge savings).

I do need to walk more. My truck is a gas hog. I’m looking for a new one actually. For that reason pretty much. Sadly most trucks in the class I want, don’t get the mileage I want.
 

One

Former Staff
Dec 2006
11,252
9,830
----> X <----
#6
Spend $100 on live streaming equipment.
Pick a common but popular video game.
Make Twitch account.
Set up bank/paypal to accept donations.
Do a good job - welcome people, be nice, informative. Pretty if you can. Funny is better.

You're well on your way to turning that $100 into $1000.
You missed the most obvious one...
grow your own smoke.
 
Jan 2014
15,636
4,056
California
#7
I really like the idea of cutting cable. I don’t actually have cable, but I do use the internet. My cell bill is already dirt cheap as I am on a business contrac through my father’s company (he has a bunch of family members on the contract we can all get huge savings).

I do need to walk more. My truck is a gas hog. I’m looking for a new one actually. For that reason pretty much. Sadly most trucks in the class I want, don’t get the mileage I want.
Mr. Remington,

I think the idea is mostly to get in the habit of saving. Maybe because I am older, but lately have been looking at all the crap in my house that I've accumulated over the years, and noticed how much of it I don't need. Over the past few years, I really have gotten in the habit of only buying what I need and know that I will use.

Other things, I buy maybe 5 cups of prepared coffee every year. It takes no time to brew your own at home or at the office for pennies a cup.
 

boontito

Future Staff
Jan 2008
101,893
89,724
West Coast 4 Life
#8
Find a market and a source. Clean out your garage, go to thrift stores or yard sales. Study eBay and Etsy. Sell stuff online.
 
Dec 2018
1,159
349
Florida
#9
Mr. Remington,

I think the idea is mostly to get in the habit of saving. Maybe because I am older, but lately have been looking at all the crap in my house that I've accumulated over the years, and noticed how much of it I don't need. Over the past few years, I really have gotten in the habit of only buying what I need and know that I will use.

Other things, I buy maybe 5 cups of prepared coffee every year. It takes no time to brew your own at home or at the office for pennies a cup.
Well said. I live pretty spartan right now. Don’t even have a couch since I live alone lol. The woman I’m dating doesn’t ever come over to hang out since my place is tiny. And I purge shit I don’t need regularly too.