So i went to a focus group purely to provide feedback, now i have a 75 dollar giftcard which i have to select and withdraw but im not sure what to put the money towards? my older brother also got one. Yes i live with parents so most of my living needs are already covered.

What would be the smart thing to do here? what would you suggest and why so?

  • captainlezbian@lemmy.world
    0·
    7 months ago

    It’s entirely dependent on what you want or need. If you’re good right now throw it in savings until you want or need something.

  • specialseaweed@sh.itjust.works
    0·
    7 months ago

    The absolute best use is opening a Vanguard account, putting $75 in VOO, and forgetting you did it for about 20 or 30 years. Even better, put a $10 in there every month as well.

    For a gift for myself when I’m not strapped for cash, I use gift cards and cash for something I would never buy myself. It just feels like it makes a bigger impact that way. I remember it.

    If going the charity route, go to your nearest unhoused shelter and ask what they need. I volunteer at one that is hanging on by a thread (no real funding other than a small grant from the county, it’s just volunteers). Sometimes donations aren’t hitting everything we need and something has run out. Hot chocolate packets and cup of noodles are so valuable (easily transportable, usable, stable, and withstand outdoor weather) that we were giving out handfuls yesterday instead of our typical limit of 1 per person per day. It’s wild how important those little things are.

    • RememberTheApollo_@lemmy.world
      0·
      7 months ago

      To do the math;

      $75 x 25 years at (a conservative) 5% = ~$253

      @7% it’s over $400.

      Probably not worth your time to wait 25 years for that.

      However,

      $10/mo at 7% is much more interesting: $8,200

      And $10/week: $34,500

      Over 25 years this isn’t huge, but it’s *something.”

      I used a very conservative % because past gains do not guarantee future performance, and one should not put all their eggs on one basket…But VOO over 30 years averaged 10%, so $10/week with $75 start @ 10% for 25 years is just under $55,000. Double it to $20/wk and you’ve got $108,000.

      IDK what’s in store for the world, but for now, people should invest early and regularly. If it all goes to shit even money under the mattress won’t help, so go for the % IMO.

      • specialseaweed@sh.itjust.works
        0·
        7 months ago

        Yea, it would be more about starting a habit that would result in future security. In a perfect world, it starts here with $75 and a tenner every month, then they start putting in $20, then they ramp it up as they’re able.

    • Grumpy404@lemmy.zipOPEnglish
      0·
      7 months ago

      Can i have a example of some of the investments you said? are you saying i start something like a ebay?

      • ryrybang@lemmy.world
        0·
        7 months ago

        For investment, something like fxaix (Fidelity 500 index) or vti (Vanguard Total). You need a brokerage account. $75 might be too little to seed an account, depending on the company. Schwab, Vanguard, Fidelity, Robin Hood.

        Don’t buy a single company, don’t by meme stocks, don’t buy a mutual fund with high expense ratio, don’t buy “money market fund” or similar.

  • slazer2au@lemmy.worldEnglish
    0·
    7 months ago

    Have ok dinner somewhere? $75 won’t get you to a good place. But it may get you into an ok one.

  • rudyharrelson@lemmy.radio
    0·
    7 months ago

    If you (or your parents) like to cook, you could get some choice steaks (or other high-end ingredients) and make a nice meal that the whole family can enjoy.

    Could also get a nice game controller if you’re into video games. Most first-party controllers seem to cost about $70-$80 these days.

    I dunno what the “smart” thing to do with $75 would be; $75 isn’t a whole lot of money in the grand scheme of things so investing it wouldn’t exactly pay dividends any time soon. Maybe buy 1GB of DDR5 RAM and in a year it might be worth $75,000 if the market continues its current trend.

    • zipping1039@piefed.socialEnglish
      0·
      7 months ago

      You’re advising a young man to buy a combat grade knife? For what? If it would be utility there are so many other good options such as decent multi-tools in that price range. So that leaves defense. But a knife for defense needs serious training or otherwise any situation is quickly dangerously escalated by drawing a knife like that. There are more productive ways of spending 75.

      • dual_sport_dork 🐧🗡️@lemmy.worldEnglish
        0·
        7 months ago

        Cripes, this argument again. Give it a rest already, people.

        I don’t know about you but I’ve never used mine for combat and I’m unlikely to be in a position to try. Despite the inherent ridiculousness I do occasionally EDC mine, but mostly I use it as a folding camp knife.

        There are oodles of other perfectly cromulent knives to recommend, of course (just ask me how I know!) but I zeroed in on this one for the sheer perversity of its selling price being near enough to precisely OP’s available figure.

        If you’re going to be that way about it, might I recommend a Leatherman Skeletool which is also currently about $75.

  • MuttMutt@lemmy.worldEnglish
    0·
    7 months ago

    In the humble words of Bender B Rodriguez, you could buy one 75.00 hookerbot or seventy-five 1.00 hookerbots.

      • Lost_My_Mind@lemmy.world
        0·
        7 months ago

        And a person with THOSE hobbies is on Lemmy??? Well I for one am shocked. SHOCKED I SAY!!!

        …not that shocked actually. Next you’ll tell us your linux distro, and a fight will ensue over which distro you should switch to.

      • Grimy@lemmy.world
        0·
        7 months ago

        I’d suggest taking a look at what roll20 has to offer if you want to play virtually with your friends.

        If the rasp Pi is too much (per your other comment), you might have fun with a few esp32s and some basic sensors if you want to get into the embedded electronic space. The entry price is lower then the rasp.

      • spongebue@lemmy.world
        0·
        7 months ago

        Do you have a 3D printer? $75 won’t buy one in full, but it can help get a decent entry-level one like an Ender 3 V3 SE. If you already have one, maybe some filament.

        Also, a Raspberry Pi can be used for some nice things. I love my Home Assistant setup, for example!