Here Are 15 Smart Things To Do With $100 In The New Year

Sure, $100 is only $100. But never underestimate how far that money can go, even in this economy.
"It's smarter to put that money away because once it's in your pocket, it's pretty much gone," says Joel Larsen, a certified financial planner based in Davis, Calif.
No matter where your finances wound up this year, we've compiled 15 tips to help you stretch that Benjamin even further in 2012.
Open a college savings plan
"A lot of people will say, 'it's only $100,'" says Larsen, but if you were to save $100 a month over 20 years at a 7% rate of return, you would amass $52,092.67—impressive, right?
Depending on your finances, you'll need to shop around to find the right plan. Weigh out investment performances, expenses, and tax exemptions.
Andrew Schrage, founder of Money Crashers, recommends trying a 529 College Savings plan set up by governments or colleges to save.
"One of the primary benefits of a 529 savings plan is that it offers tax protection from the federal government," he says. "Also, you may be eligible for tax protection from the state government."
Pay down debt
It may not be all you need to pay off that credit card bill, but $100 is a solid start.
"If you have a credit card that charges 20% in interest, you want to pay that off as fast as possible," Schrage says. "This option would be like putting $100 into an investment that paid a 20% annual return compounded monthly. There is no sense paying the minimum payments on high-interest debt and digging yourself in a deeper hole!"
Stock up on frozen food
"You should understand the sales cycle that your grocery store runs and keep a binder of organized coupons," Schrage says. "Plan to go in and stock up on large amounts of frozen foods when they are best priced. When food prices are rising and you need to prepare, this strategy will become especially important."
Buying frozen food could shave $20 off your grocery bill.
See six ways to prepare for rising food prices at Money Crashers.
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