The $100 Challenge: 12 Ways to Find Money to Start Investing (Without Buying Someone Else's Sales Pitch)!

You don't need to be rich to start building a financial future. Sometimes, you just need to find the money that's already yours.

We've all heard the traditional financial advice. Make a budget. Cut your expenses. Stop buying coffee. Put 20% of your income into savings. Thanks, Professor Obvious. What's next? Stop paying rent and move into the coffee shop? Here's the problem: advice that works for someone earning $100,000 a year may be useless to someone struggling to cover groceries, utilities, and rent. And plenty of websites promising to help you save money seem more interested in earning affiliate commissions than helping you keep it. I wanted to explore something more practical.

Could an ordinary person find an extra $50–$100 a month without getting a second job, sacrificing every little pleasure, or paying somebody to teach them how to save?

I started looking into it, and I found some promising places to look. Some won't apply to everyone, and some will save you nothing at all. But a few small changes, combined with one or two bigger opportunities, might free up money you didn't realize you could recover.

A quick disclaimer: These are possibilities to investigate, not guaranteed savings. Your results will depend on your circumstances, your current bills, and which options you can actually use. Let's go hunting.

Part One: Twelve Places to Look for Your First $100

1. Audit your bank account for unnecessary fees

Start with your last two or three bank statements. Look for monthly maintenance fees, ATM charges, overdraft fees, and other charges you don't recognize or no longer need. If you spot a fee that seems unfair or unnecessary, call your bank. Ask whether it can be waived, whether you're eligible for a fee-free account, and whether there's a less expensive way to manage your money. You can also review your overdraft settings. Depending on your account, opting out of certain overdraft coverage may help prevent fees, although it can also mean a transaction gets declined.

The Consumer Financial Protection Bureau offers free guidance on understanding and avoiding overdraft fees.

Potential result: You might recover a fee or prevent future charges. Don't count a one-time refund as recurring monthly income.

2. Hunt down subscriptions you no longer use

This is one of the easiest places to start. Maybe one of the most obviious. We don't make the time for it. Review your bank and credit card statements for recurring charges. Check your phone's subscription settings, too. On an iPhone, go to Settings, tap your name, then Subscriptions. On Android, open Google Play, tap your profile, then Payments & subscriptions and Subscriptions. These settings show subscriptions billed through those services, but they won't necessarily reveal every subscription you have. Check your statements for anything billed directly by a company. Ask yourself three questions:

• Do I still use this?
• Would I pay for it again today?
• Is there a free alternative that meets the same need?

Cancel what you no longer want, and keep an eye on subsequent statements to make sure the charges stop.

Potential result: Canceling two $4.99 subscriptions frees up almost $10 a month, or roughly $120 a year.

3. Don't let free trials become expensive surprises

Free trials aren't necessarily bad. Forgetting about them can be. Before signing up, find out when the trial ends, how much the service will cost afterward, and exactly how to cancel. Put a reminder on your calendar. If the service permits cancellation immediately while preserving the trial period, consider doing that. Just verify the terms first. The Federal Trade Commission has a useful guide to free trials and automatic renewals.

Potential result: Avoiding an unwanted $15 monthly subscription preserves $180 a year. That's money you never have to recover because it never left your account.

4. Check whether you're paying too much for prescriptions

Medication costs can take a serious bite out of a tight budget. Compare your current prescription costs with legitimate alternatives, including generic medications, pharmacy discount programs, and prices at different pharmacies. Your insurance copay isn't always the lowest available price, although cash purchases may not count toward your deductible. Costco's pharmacy is generally accessible to nonmembers, subject to applicable rules, so you may be able to compare its prices without purchasing a warehouse membership. Never stop or change a prescribed medication just to save money. Ask your pharmacist or prescriber about less expensive alternatives that are medically appropriate.

Potential result: Savings vary widely depending on the medications you take and what you're currently paying. Even a modest recurring reduction can help.

5. Let your public library compete with your entertainment subscriptions

Your local library may offer considerably more than books and the occasional meeting room. Depending on your library system, a free library card may give you access to Libby for ebooks and audiobooks, Hoopla for digital media, or Kanopy for films and documentaries. Availability and borrowing limits vary by library. Check what's actually included before canceling anything. You don't have to give up entertainment to improve your finances. You just have to stop paying for something when a free alternative works just as well.

Potential result: Replacing one $15 monthly subscription with a free library service could free up $180 annually. And yes, you can still watch something entertaining. Saving money shouldn't require watching paint dry for recreation.

6. Call your credit card company and ask about your interest rate

If you carry a credit card balance, interest can quietly eat away at your money. Call the number on the back of your card and ask whether you're eligible for a lower annual percentage rate (APR). Explain your payment history, if it's favorable, and ask about available hardship programs or lower-rate options. Approval isn't guaranteed. Your credit history, account status, and the issuer's policies will matter. Here's the important part: If you're paying substantial interest, reducing that cost may be more valuable than investing a small amount while the debt continues to grow.

Potential result: A lower interest rate can reduce future interest charges. The actual savings depend on your balance, rate reduction, and payment behavior.

7. If you own a home, investigate private mortgage insurance

This one doesn't apply to renters, but it may be worth checking if you own a home and pay private mortgage insurance (PMI). For many conventional mortgages covered by the Homeowners Protection Act, borrowers can request cancellation when the mortgage balance reaches 80% of the home's original value, subject to eligibility requirements.  Automatic termination generally applies when the scheduled balance reaches 78%, provided the applicable conditions are met. Your loan type, payment history, and other requirements can affect eligibility. Home appreciation alone does not automatically entitle every homeowner to cancellation. Contact your mortgage servicer and ask for its specific requirements.

Potential result: If you're eligible, eliminating PMI can free up a meaningful amount of money each month. If you rent, skip this one and move on.

8. Compare your cell phone plan with lower-cost carriers

Are you paying for a premium wireless plan when a less expensive one would meet your needs? Mobile virtual network operators, or MVNOs, sell wireless service using other carriers' networks. Some offer substantially lower prices than traditional postpaid plans. Compare your actual needs:

• How much data do you use?
• Do you need international roaming?
• Is reliable coverage available where you live and work?
• Are taxes, fees, and hotspot access included?
• Will switching trigger an early termination fee or require a new device?

Don't assume every budget carrier provides identical coverage or network priority. Check the details before switching.

Potential result: Reducing a $70 monthly bill to $35 frees up $35 each month, or $420 a year, before any switching costs.

9. Shop around for auto insurance

Insurance is an expense many people renew automatically without checking whether they're still getting a competitive price. If you own a vehicle, request quotes from several insurers when your policy comes up for renewal. Compare equivalent coverage limits, deductibles, exclusions, and customer-service reputations. Consumer Reports' 2024 survey of 40,566 auto insurance policyholders found that people who had switched insurers within the previous five years reported median annual premium savings of $461.

That's a survey result, not a promise that you'll save the same amount. Your savings could be much smaller, or switching may not help at all. You can read more in Consumer Reports' car insurance research.

Potential result: Even $240 in annual savings would amount to $20 a month on average.

10. Review medical bills before paying a questionable charge

Medical bills can be confusing, particularly when several providers are involved. If a bill looks wrong, ask for an itemized statement and compare it with your explanation of benefits, if you have insurance. Look for duplicate charges, services you don't recognize, incorrect dates, and discrepancies between the bill and your insurer's records. Contact the provider or insurer to dispute questionable charges. Ask about financial assistance, payment plans, and discounts for eligible patients. An itemized bill isn't a magic wand, and not every discrepancy is an error. But you shouldn't pay a charge you believe is incorrect without asking questions.

Potential result: Correcting a billing error could save money, sometimes a substantial amount. However, this is usually a one-time saving, not a new monthly income stream.

11. Search for unclaimed money

This one costs nothing but a few minutes of your time. State governments hold unclaimed property that may belong to individuals and businesses. It can include forgotten bank accounts, uncashed checks, insurance proceeds, and utility deposits. Search the official unclaimed-property databases for states where you've lived. Use the federal government's guide at USA.gov: Unclaimed Money to find the appropriate resources. You might discover nothing. You might discover money you forgot existed. Be cautious of anyone demanding an upfront fee to release your money. Start with official government resources.

Potential result: Usually a one-time recovery, if you're entitled to anything. If you find $150, that's $150 you can put toward your financial cushion, although it won't necessarily create an additional $150 every year.

12. Check whether you qualify for the federal Lifeline program

Internet and telephone service are increasingly necessary for work, education, healthcare, and staying connected. The federal Lifeline program provides eligible households with a discount on qualifying phone or internet service. The standard benefit is up to $9.25 per month, with an enhanced benefit of up to $34.25 for eligible residents of Tribal lands. Eligibility depends on income or participation in certain qualifying assistance programs. Service availability and the amount of the discount depend on the circumstances. Learn more and check the requirements at Lifeline Support.

Potential result: If you qualify for the standard $9.25 monthly benefit, that's up to $111 a year in reduced service costs. One important note: The former Affordable Connectivity Program ended in 2024. Don't confuse it with Lifeline, which is a separate program.

Part Two: Let's Be Real About That First $100

Twelve ideas don't mean twelve savings opportunities for every person. A renter can't cancel PMI. Someone without a car won't benefit from shopping for auto insurance. Someone with no unnecessary subscriptions has nothing to cancel.

That's fine. The point isn't to implement every suggestion. It's to identify the two or three that fit your life and see what happens. Here's a simple example of how savings could add up:

That's $780 a year if all those savings recur. It's an illustration, not a forecast of what you'll save. You might find $20. You might find $100. You might find that your budget is already so lean that there is nothing left to cut. If you're struggling to afford food, rent, medication, or utilities, those necessities come first. There is no prize for investing $50 while borrowing $50 to buy groceries.

And don't spend $300 on a financial product, service, or program just because somebody promises it will save you money. When the mission is to find your first $100, spending several hundred dollars upfront defeats the purpose unless there's a compelling, independently verified reason.

Part Three: Where Should That Money Go?

Now we're getting to the interesting part.Suppose you've managed to free up $50 or $100 a month. Should you invest it immediately?Not necessarily.Before putting money into the stock market, consider whether you have a small emergency reserve, whether your bills are current, and whether you're carrying expensive debt.An unexpected car repair, medical expense, or broken appliance can force you to borrow money or sell investments at an inconvenient time.Building even a modest cash cushion can make your financial life less fragile.Here are four places to begin learning.

1. High-yield savings accounts: Build your safety net

A high-yield savings account can be a sensible starting point for money you'll need in the near future. Look for an account with a competitive annual percentage yield (APY), no unnecessary monthly maintenance fee, reasonable access to your money, and deposit insurance from the FDIC or NCUA, as applicable. Rates change frequently, so compare current offers instead of relying on a list published months ago.

For example, at a hypothetical 4% APY, a $100 deposit would earn approximately $4 over a year if the rate remained unchanged and interest compounded annually.

That's not going to buy you a yacht. But that's not the point. The point is having money available when life decides to throw a wrench into your plans.

2. Broad-market index funds and ETFs: Learn about diversified investing

Once your essential expenses are covered and you're building a financial cushion, you can begin researching long-term investments. An exchange-traded fund (ETF) pools money from investors to hold a collection of investments. Some ETFs track broad market indexes, providing exposure to many companies through a single fund. Examples worth researching include:

• Schwab U.S. Broad Market ETF (SCHB): Exposure to a broad range of U.S. stocks.
• SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM): Exposure to large-, mid-, and small-cap U.S. stocks.
• Vanguard Total Stock Market ETF (VTI): Broad exposure to the U.S. stock market.

These are examples for research, not a personalized recommendation to buy any particular fund.

Before investing, compare each fund's expense ratio, holdings, diversification, and investment objectives. Check whether your brokerage permits fractional-share purchases, which can make it possible to invest smaller amounts even when one whole share costs more than your monthly contribution. Remember: Diversification can reduce the risk associated with relying on a single company, but it cannot eliminate market risk. Your investments can lose value. The SEC's free Investor.gov ETF guide is a good place to learn more.

3. Fractional shares: Start small without chasing cheap stocks

Some brokerages let you purchase a fraction of a share rather than an entire share. That means a $100 investment can be spread across investments that would otherwise cost more than $100 per share, depending on the brokerage's rules and the securities available. But here's a distinction worth remembering: A low share price doesn't make a company inexpensive in any meaningful investment sense, and it certainly doesn't make it a good investment. If you want to experiment with individual stocks, treat it as an opportunity to learn about businesses, their financial statements, their competitive advantages, and their risks.

Don't confuse the excitement of owning a familiar company with having a sound investment strategy.

4. Robo-advisors and automated investing: Watch the fees

Automated investing services can build and manage a portfolio based on your goals and risk tolerance. That convenience can be helpful, especially for beginners who don't want to select every investment themselves. But the fees matter enormously when you're starting with a small balance. Consider a hypothetical $100 investment:

• A $3 monthly fee costs $36 a year.
• A $5 monthly fee costs $60 a year.

Those charges would consume 36% or 60% of an initial $100 balance over a year, respectively, before considering investment performance and other costs. A fee that looks small on a website can be substantial relative to a beginner's account. Before opening an account, check the minimum investment, monthly or annual fees, advisory charges, transaction costs, and any requirements for avoiding those fees.

A simple brokerage account with access to low-cost diversified investments may be more appropriate for some beginners. For others, automated management may be worth paying for. The right answer depends on your needs and the actual costs.

Part Four: What Could Consistent Investing Accomplish?

Let's look beyond the first $100. Imagine you eventually reach a point where you can invest $100, $300, or $500 every month. What might that look like over time? 

The following table assumes a hypothetical 7% annual return, compounded monthly, with contributions made at the end of each month and no starting balance.

These are mathematical illustrations, not predictions. Actual investment returns vary, markets can decline, and the figures don't account for taxes, fees, or inflation. Still, they demonstrate something important: The amount you contribute consistently can make a substantial difference over time.You don't have to begin at $500 a month. You don't have to reach $1,000 a month next year. You can start where your circumstances allow and increase your contributions when your income improves.

My Take: This Is a Learning Journey, Not a Get-Rich-Quick Scheme

I'm exploring this subject because I want to build a stronger financial future myself. I'm interested in learning how investing works, how to make sensible decisions, and how small contributions might grow over the years. I also want to understand the mistakes beginners make, particularly when they're tempted by expensive services, complicated products, or promises that sound too good to be true. 

I'm not going to pretend I have every answer. I'll share what I learn, what I find useful, and what doesn't make sense to me. I'll look at the costs, question the claims, and try to separate solid information from marketing.

That's what KimsWarriors is about: curiosity, learning, and figuring things out together. So here's my challenge to you.

Spend 30 minutes reviewing your expenses this week. Find one legitimate way to reduce a recurring bill or recover money that's yours. Then decide what that money should do for your future.

Maybe you can save $10 a month. Maybe it's $50. Maybe you're in a position to begin with $100. And if you can't spare anything right now, don't beat yourself up. Getting your finances stable is progress, too. The goal isn't to become wealthy overnight. It's to give yourself more choices tomorrow than you have today.That's worth working toward.

Disclaimer: This article is for general educational purposes only and is not individualized financial, investment, tax, or legal advice. Savings opportunities and eligibility vary. Investments involve risk, including the possible loss of principal. Research fees, risks, and account terms before making financial decisions.