Three Ways to Use An Extra $100

Posted by Nailah Herbert in BudgetingSeptember 15, 2019(Last Updated January 11, 2023)2 min read
Are you ready to make some real money moves?

​Finding out that you have extra money in your budget is much appreciated. Before you spend it all in one place, here are a few ways you can use your extra money to push you toward your money goals.


Treat yourself.  


If you have been focused on your budget and haven’t treated yourself in a while, now is the time to send money to your wants. You can use about $25-30 of the extra money each month to treat yourself to a nice dinner or a movie. Or, you can splurge on that new jacket you've been eyeing. Self-care is essential to your mental health and doesn’t require money. But it is not harmful to splurge every once in a while. 



Source: GIPHY 


Build your emergency fund.


Always pay yourself first! If you do not have at least two weeks of pay stashed away, then get to saving. Take the extra money and save it until you reach this savings goal. In a perfect world, you want at least a full month of savings before you move onto suggestion #3. Saving money makes sure that unexpected expenses don't hurt your financial progress.


Pay off small debt. 


You can only do so much with $100, so make it count! Make an effort, either big or small, to pay off your debt. Putting an extra $100 toward your credit card or student loan bill can push you further financially. The example below shows how an extra $100 a month could cut down a credit card repayment time by more than a year. 


Here's what it could look like if you were only paying the minimum on a credit car with a $2,000 balance: 






Here's what your pay off plan could look like with the extra $100/mo: 




Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2023 CapWay Inc. All Rights Reserved.