Introducing the $100 challenge: How we turn $100 into $350k

We’ve done the calculations. If you invest just $100 every month for 40 years, you can accumulate over $350,000 – thanks to the magic of compound interest. So, we decided to set ourselves a challenge. Every month, we’re going to look for a way to add an extra $100 to our investment portfolio. We need a plan to save or earn an extra $100 each month to reach our investment goals.

Here’s our ideas for March: 

• Sell drum kit 
• Do online surveys (AttaPoll) 
• Shop around for a cheaper phone plan

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$100 challenge: Has Bryce sold his drum kit?

We’re back with $100 challenge! A quick reminder if you’re new to the show – if you invest $100 a month every month – at the market’s average return over 40 years – you’ll have an extra $350 000.

This month we check in with Bryce and Alec and see how their March pledges went – has Bryce sold his drumkit? Has Alec become a survey master? And who in the Equity Mates office managed to find an extra $600 this month? Then find out what our community has been up to!

$100 challenge: An Airbnb for car parks?

Welcome back to the $100 challenge! You’ve been asking about where the money will be invested. So the guys get into where they’re actually putting the cash.

Alec disclosed that he spent $150 on takeaway lunches in March and decided to stop buying them for April – did he make it? Bryce has calculated that he saved $98… but maybe it’s a little dubious. What are they going to do in May? Simon joins the guys in studio to tell them his top tips.

$100 Challenge: How Ren made $200 this month

It’s another $100 Challenge episode! This June, we check in on the ongoing saga that is Bryce’s drumkit… (will he ever sell it?) Ren and Bryce reflect on the decisions they made in the month of May, and talk about tactics for saving and earning cash in June.

Got an idea of how you’re pledging to save or earn $100? Get in touch by contacting them here. 

$100 Challenge: Bryce enlists The Curve to help sell his drum kit

oin us as we attempt to turn $100 into $350 000! Just earn or save $100 each month, and thanks to the power of compound interest, it’ll turn into $350 000 after 40 years. This episode, we’re joined by Victoria and Sophie from The Curve. Check out The Curve – an education platform providing investing and finance content to women globally: https://thecurve.co.nz/

This month, Alec is not checking any bags on his trip to Europe, and is using Airalo to save on his phone use when he’s oversees. Bryce is going to clear out his home and sell some plants and take out a market stall to sell some of his unused items. He’ll be there on the 9th of July – Kirribilli Markets if you want to go say hi!

$100 Challenge: Bryce starts a dropshipping business

We’re back with another $100 challenge episode. It’s a simple premise, an extra $100 each month in your investing pot could compound to over $350 000 in 40 years. Bryce and Alec chat through what they’ll be doing this September, and we also hear from some Equity Mates community members about their plans as well.

$100 challenge: How Nick made almost $2,000 in 2 weeks

Bryce has an update on his dropshipping business – that’s right, the website is LIVE. You can support him here: https://hellosummerdaze.myshopify.com/

Ren has a pretty sad update – his attempts this month have failed dismally. The Equity Mates community is getting involved though – at the Dumb Money screening the other week, we met Nick, who pitched us his idea for $100 challenge, so he joins us to chat about it.

If you want to go beyond the podcast and learn more, check out our accompanying email.