9 #CoolerThanCool Things to Do With Spare Money

There comes a time when we just have spare money we don’t know what to do with. Like it’s too small to do anything big, and too big to be thrown away (like there’s money too small that can be thrown away!). The point is there are some spare change from running the day’s business that sometimes just fizzles away. Let’s explore 9 ways to put this change to better use.

1. Start saving (then Invest): This is actually a no brainer, everyone knows this right? But how many actually practice it? It’s understandable that you have a savings account where a percentage of your income goes to every month, but having a savings point at home can also help contain your finances and secure those loose change. You can go old fashion and start a piggy bank or find an old shoe box or jacket pocket to keep (and forget) your spare change. When it accumulates you can then use it wisely, like invest or add to your regular savings account. Try this for a month and be surprised how much you’ll accumulate. Nuff said.

2. Charity: Spare change can actually be given to charity. You can accumulate them and send it (no matter how little) to your favourite charity, or you can drop them at designated boxes in shopping malls as soon as they (the change of course) are generated. The feel-good of giving will actually do you good.

3. Insurance: There are several insurance policies whose monthly payment are very inexpensive, somewhat below the 5,000 Naira radar. Imagine if you just acquire one and send in your loose change to it for a year? You will be saving, making interest on those savings and also getting insured without breaking a sweat. Make sure you contact a professional and understand the terms if you plan on buying insurance.

4. Stocks: This is another easy way to invest spare change and make money without breaking a sweat. Isn’t that super cool? Most shares are quoted in single and double naira figures, while some are even in kobos (think N5, N25, 80K, where K isn’t thousand but kobo). Imagine buying 1,000 units of shares for, wait for it, N1,000? Don’t laugh. Again, should you want to buy share please consult a professional.

5. Stock up the house: Having spare change in the thousands can actually be help when stocking up the house. Simple house hold items can be purchased using spare change. For instance you can buy extra packs of Premier cool and keep at home, so you don’t run out of bathing soap. Now that’s wise use of spare money.

6. Surprise a friend: Spare change can be used to surprise a friend. No, we didn’t say give the money to the friend. A simple gift to a friend, for no apparent reason can cause them to smile and remember you. It can show them you care and make their day. Of course it is not the gift but the heart behind the gift that counts. Be creative and surprise a friend with that spare change.

7. Give yourself a treat: Who doesn’t love ice-cream? Or chocolates, or milkshakes, or whatever delight that floats your boat? After a successful day (or before a relaxing weekend), you can give yourself a deserved treat, and spare change can come to your rescue.

8. Buy airtime or data: Isn’t this self-explanatory? Spare change, airtime and data have been blood relations for as long as we can remember. We’ll leave it at that.

9. Get an accessory: Whether it’s a pocket square or cotton socks, extra money can help you get accessories that compliment your various outfits. Thing is, your mind may not go there when the change is lying lazily on desk, so we took time out to remind you. So go ahead, change the leather of your wristwatch or buy those cool earpiece for your morning workout music, spare change will aid you in getting those accessories.

There you have it, the major amazing things spare money can help you do, rather than take up space on your desk with nothing to do. The list is by no means exhaustive. You can share with us other things we should include in the list. Use that change wisely, and go be awesome.