Turning 18 is a huge milestone. It often feels like the official start of adulthood, a time when you’re ready to build your own life. But what if you’re starting that journey with not much in your pockets? Let’s say you have $700 and a desire to build something solid. It might not feel like a lot, but it’s a fantastic starting point if you’re smart about it.
Think of that $700 like a small seed. You can plant it and watch it grow, or you can spend it all at once and have nothing left. As someone who’s navigated the creative world and built my own small business from scratch, I know the power of making every dollar count, especially when you’re just getting started.
So, what can you actually do with $700 when you’re 18 and looking to build a foundation?
1. Invest in Skills, Not Just Stuff
This is where I’d put the biggest chunk, if not all, of that money. What do you want to learn? Are you interested in graphic design, coding, a trade, or maybe a new art technique? Look for affordable online courses, workshops, or even apprenticeships. A skill is an asset that keeps giving. Learning to code can open doors to tech jobs, understanding digital marketing can help any future venture, and mastering a craft can lead to a fulfilling career.
- Example: A $300 online course in digital illustration could be a game-changer if you want to be an artist like me. It’s an investment in your future earning potential.
2. Build a Practical Emergency Fund
I know, I know, it’s not as exciting as buying something cool, but having a small cushion for unexpected things is crucial. Even $100 or $200 set aside in a separate savings account can save you from going into debt if your phone breaks or you have a sudden car repair.
- Think: This isn’t money to spend, it’s money to protect you from having to spend more later.
3. Smart Savings & Budgeting Tools
Use some of that $700 to set yourself up for good financial habits. This could mean opening a high-yield savings account or investing in a budgeting app that helps you track your spending. Understanding where your money goes is the first step to controlling it.
- Actionable Idea: Open a savings account with a bank that offers a good interest rate. Even a small amount can grow over time.
4. Network and Gain Experience
Sometimes, the best investment isn’t tangible. Use a portion of your funds to attend local industry events, buy a coffee for someone you admire and want to learn from, or even create a simple website to showcase your skills. Building connections and getting practical experience is invaluable.
- Consider: A $50 investment in a professional-looking portfolio website can make a big difference when applying for jobs or clients.
5. Practical Necessities (If Needed)
If you’re truly starting from scratch, you might need essential items. This could be a reliable used laptop for your studies or work, or basic tools for a trade. Prioritize what you need to function and build your career.
- Smart Shopping: Look for used or refurbished items in good condition to save money.
Starting over at 18 with $700 is less about the amount and more about the mindset. It’s about recognizing that every dollar can be a building block for your future. Focus on learning, saving, and making smart choices, and you’ll be surprised at how far that initial investment can take you.