10 Smart Ways to Spend $100 - For What It's Worth - Comcast.net Finance

Perhaps you just celebrated your birthday and collected some extra cash as gifts. Or maybe you stumbled on a wad of $20 bills that you'd forgotten about in your desk drawer. Or your $100 product rebate has finally arrived. Regardless, you're just a little bit richer, and the opportunities are endless.

We know it's tempting, but don't run off to your favorite department store or restaurant just yet. Where's the novelty in that? First, consider these ways to stretch your dollars even farther, especially in these challenging economic times.

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Look for Free Shipping

Keep an eye out for free shipping deals, especially at your favorite online retailers. If you can afford to delay your holiday shopping until mid-December, the payback could be well worth it. Dec. 17, 2009 has been dubbed "Free Shipping Day," which means over 250 retailers will send your purchased items to you at no added charge. Visit FreeShippingDay.com to learn more about the program. The site guarantees delivery by Christmas Eve.

Join a Warehouse Club

If you're not already a member, consider joining your local warehouse club. Membership fees range from $40 to $100, depending on the club and the type of membership you select. Careful planning and navigating can significantly reduce your grocery bills. Just be mindful not to throw money away on tempting but unnecessary bulk-sized items. Hint: Make a list. For more tips on shopping at the 'Big 3,' check out this slideshow.

Open a Checking Account

A $100 offer just for opening up a checking account is nothing new. But what better way to spend $100, which is the deposit minimum for many checking accounts, than to double your sum? Keep an eye out for banks' offers. Sovereign Bank, for example, is currently offering a free $100 for every new account. On a cautionary note, be sure to do your research to avoid any hidden fees or rules that may come attached.

Stock Up on $10 Toys

Wal-Mart Stores Inc. rolled out its 100 toys under $10 deal just in time for the holidays. This is a big step up from last year, when the retail giant offered just 10 toys at that price point. Wal-Mart's marketing move sparked a price war centered aroundthe $10 toy. Target Corp. and Kmart are now inching closer to Wal-Mart's prices. Look for the right promotions -- which are more plentiful this year than in recent years -- and you'll find no shortage of quality gifts for less.

Hire a Personal Trainer

Make an investment in your personal fitness and well-being by spending $100 towards a personal trainer. Though prices can range anywhere from $30 to $100 for as little as an hour, the cardio and weight-training tips -- and of course, having someone to motivate you, which is half the battle -- will hopefully carry over into a healthier lifestyle long-term.

Buy Some Bestsellers

If you're interested in splurging on new novels, now is certainly the right time to browse. That's because retailers are in a heated price war, selling some of the season's most anticipated books for as low as $8.99. Sites like Target.com,Walmart.com and Amazon.com are slashing the prices of books -- including hardcover releases of Sarah Palin's "Going Rogue" and John Grisham's "Ford County" -- by as much as 60 percent.

Lend Money to a Third-World Country

Looking for a unique way to help out others in need? Visit www.kiva.org to make a loan for as small as $25 to an entrepreneur, such as a farmer or salesman, in a third-world country. This online platform allows lenders and recipients alike to create profiles and initiate a relationship with one another, all in hopes to alleviate poverty.

Splurge on a Cleaning Service

If you have an extra $100 lying around, it could be beneficial to treat your family -- and your home -- to a cleaning service. We're not inferring that your home's condition isn't up to par, but if you're like most families, chances are you've missed some tough-to-reach spots. The one-time splurge will surely create a clean slate for the next time you dive into household chores… all while making the load a little lighter.

Book a Trip

Shortly after airlines announced they will increase flight fares before the holidays, some carriers completely reversed their course of action. Southwest Airlines Co. debuted its 72-hour-long fare sale, offering flights ranging from $25 to $100 for trips under 1,000 miles. Then, AMR Corp.'s American Airlines matched the deal, offering $25 fares during the same windows of time. Though these are limited-time offers, keep charting the airline price wars… you could be well on your way to landing some great deals.

Invest

Investing -- even when it comes to an amount as small as $100 -- can be a smart move. Consider basic investing in a CD or stocks. Check out The Motley Fool's investing table, and you'll see that with a CD with a 5 percent rate of return, your $100 will reach $208 in 15 years. On the other hand, if you invest in the right stocks, your $100 -- with a 15 percent rate of return -- can reach $201 in five years or $814 over 15 years.

What's your favorite way to spend $100? Do you have other ideas for smart ways to stretch your dollars? Share your thoughts here.

-- The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

Message Edited by Renee_DeFranco on 10-28-2009 04:31 PM