I would rather invest that in cryptos, but mostly trade with that amount, through proper money management and stuff.
Money management essentially means reducing the risk of losing capital, by properly assessing risk:reward ratio in your trades primarily, along with some other factors.
Slowly, once I start earning or increasing the capital, I'll start withdrawing small parts out of it, and spend on improving my way of living :)
$500 is a large amount of money if it's converted to my country currency.
I will spent $500 to acquire knowledge by learning productive skills that can add value to me.
Secondly, I would invest in cryptocurrencies and participate in cryptocurrency trading.
If I had as much as $500 now, I would have put to practice my vast knowledge of cryptocurrency trading. I would have been a rich big fellow.
If you thinking investing to acquire knowledge is expensive, you can try ignorance.
Start an IRA
IRAs are one of the best investment tools out there, because contributing to one can save you money at tax time. A traditional IRA, for example, allows you to take a tax deduction in the amount of your contribution. So if you're in a 25% marginal income tax bracket, the tax savings are meaningful on a $500 contribution.
If you don't pay taxes, or you think your tax rate may be higher in retirement than it is now, then a Roth IRA might be a better choice. You don't get the tax break up front, but money can be withdrawn from a Roth IRA in retirement tax free, including gains, as long as you follow the rules.
It will be reasonable to buy Bitcoin and Ether with it at these price levels.
If i get $500 in month starting , i will invest in Crypto . and if given in month end I would keep them with me for spending in house hold affairs .. :)
Ha ha .......
I will invest 30% amount in crypto currency and other 30% in stock market.
20% on mining contract and rest 20% in cash for any emergency.
I would buy crpyto currency.
200$ on cardano 200$ on zilliqa and 100$ on ontology
I will make my family happy by buying a motorbike.
would try to multiply same as i am out of money to invest in.