Done correctly, and you can easily turn $100 into $500 without much effort.
However, if you invest your money without a goal, you can lose money and put your money at risk.
In this post, I'll explore the best ways to turn $100 into $500, some of the best low risk investments, and much more. Let's get started.
Best Ways to Turn $100 into $500
If you want to learn how to turn $100 into $500, check out these methods.
Invest in Real Estate with Fundrise
Real estate is one of the best money making machines that anyone can use to grow their money.
With this compound interest investment you can start with as little as $10 and make your money grow by 10% to 20% per year or more.
Real estate is a great passive income stream that you can use to make money without working.
It's also considered pretty low risk and acts as a hedge against inflation.
While there are many different ways you can invest in real estate, my favorite method is Fundrise.
Fundrise takes all of the hassle and headache out of real estate investing and you can get started with just $10.
As a bonus, they're giving new investors $10 completely free to get started. Open your free account below to get started!
If you're looking for another way to invest in real estate, I recommend using Groundlfoor to invest in short term real estate debt.
This platform works by connecting investors to people looking to complete a real estate project in exchange for interest payments.
For example, if you're looking to flip a house and you have $10,000 worth of work to complete the flip, you can use Groundfloor to complete the job.
Groundfloor is excellent option to make more money and invest in real estate headache-free.
Finally, using a real estate investment trust (or REIT) is a solid way to grow your money.
A REIT is basically a company that owns and manages income-producing assets like real estate.
The returns are similar to those of the stock market, but with lower risk and higher potential returns.
Real estate is one of the best ways to invest and you can start with little money at just $10 with Fundrise.
Invest in the Stock Market
Investing in the stock market is one of the best ways to turn $100 into $500 or more without much work.
There are plenty of options when it comes to investing in stocks. Between index funds, ETFs, mutual funds, dividend stocks, and growth stocks – it can be overwhelming.
That's why I recommend using an app like M1 Finance to get started. There are no fees and you can choose your investments or invest in a portfolio that's already created.
As a bonus, you can earn up to $250 completely free when you make your first deposit.
Invest in Small Businesses with Mainvest
If you're looking for a faster way to turn $100 into $500, Mainvest might be your best option.
While this method is more risky than others, it is also one of the more lucrative ways to grow your money.
Mainvest allows you to invest in small businesses across the country with as little as $100.
They have target returns of 10% to 25% annually making it a solid investment if you're looking to make money quickly.
Starting a flipping side hustle is another great way to turn $100 into $500 or more. With this method, you'll have to spend money to make money – but it can be an amazing way to make decent money.
You can flip pretty much anything – furniture, clothes, cars, houses, etc.
Flipping is pretty simple to understand. With this method, you'll find items at a discount and sell them for a profit.
It can be a great way to earn some extra money as a side hustle, or even to make a full-time living if you really put in the work.
There are many different ways that you can start flipping things.
You can find items to flip at garage sales, thrift stores, online marketplaces like Facebook Marketplace or LetGo.
Once you have your items, you'll need to list them for sale and market them to buyers.
You can do this by creating a Facebook page or Instagram account devoted to your flipping business.
Be sure to take great pictures and write compelling descriptions to get people interested in your items.
Flipping is a great business idea for many people looking to make extra money. Whether you have $100 or $500 to get started, there are plenty of ways that you can turn your money into more.
Start a Blog
Starting a blog is a great way to turn $100 into $1,000 or more if you do it right.
There are many different ways to make money blogging, from using display ads to make money, promoting affiliate links, and even selling digital products.
However, blogging isn't for everyone. It can take some time to get your blog off the ground and making money.
In many cases, it will take at least 6 months before your blog starts earning money.
However, if you put in the work, it can be extremely profitable. Some blogs can make over $50k a month from their efforts.
Once purchasing hosting, you can install WordPress and select a theme for your blog to get the look and feel you desire.
Once your blog is up, it's time to start creating unique content and promoting it to the world.
Invest in Cryptocurrency
Another investment option you can consider is cryptocurrency. Crypto trading can be extremely volatile, so you want to be sure you can afford to lose whatever you invest.
However, many investors have found success in trading crypto and it can be a great way to turn $100 into $500 or more.
By using a platform like Coinbase, you can get started with as little as $5. Sign up here to get started!
Start a Podcast
Podcasting can be another great way to start making decent money online.
While it will take some time to gain listeners, once you start getting a following you can earn money through sponsorships, advertisements, and selling products and services.
If you are good at speaking, have great communication skills, or know a lot about a particular topic, podcasting could be the perfect side hustle for you.
To get started, you'll need to purchase a microphone and recording software. This can cost around $100 if you don't already have these things.
Then, you can start creating your episodes and uploading them to popular podcast players for the world to listen to.
The amount of money you can make with this side hustle really depends on how popular your podcast becomes and the amount of work you put in. It's possible to make $500 a day or more for some podcasters.
The key is to create great content and market your show to the right people.
Start a YouTube Channel
YouTube has become one of the most popular search engines in the world, providing creators a great opportunity to make money online.
To start a YouTube channel, you'll first need to decide the topic or niche of your channel.
This can be anything from gaming, to makeup, to kayak reviews.
Once you know what your channel will be about, you can start creating videos. You don't need a fancy camera or microphone to start (but they can sometimes be helpful!), but you will need to invest in some editing software.
Once your channel reaches a certain level you can make money online with Google through their advertising platform. You can also use affiliate marketing to make even more money.
The amount of money you can make will depend on several factors, like the type of channel you have and the number of views you get.
However, it is possible to make $10k a month or more for many YouTubers.
Start a Business
Investing in a business is an easy way to grow your money, but if you have the work ethic, starting your own business could be a better option.
For example, starting a mobile car wash business is very cheap to start and can bring in thousands of dollars a month in profit.
Starting a small business can take a significant amount of time and work, but it can be the most rewarding and possibly before your full time job over time.
Utilize a High Yield Savings Account
If you're searching for a safe way to turn $100 into $500, using a high yield savings account is your best option.
These savings accounts offer much higher interest rates than a traditional savings account.
My favorite is through CIT Bank. It's completely free and you can earn up to 7 times the national average in interest.
While this isn't the quickest way to grow your money, it's a reliable source of income for the future.
Peer to Peer Lending
Peer to peer lending is another investment option to consider if you're looking for a quick way to turn $100 into $500.
This is where you lend money to another person or business and they pay you back with interest.
There are several platforms that offer peer to peer lending opportunities, but my favorites are Prosper and Lending Club.
Peer to peer lending is a great way to grow your money without having to put in a lot of effort.
Selling Items Online
One of the quickest ways to turn $100 into $500 is to sell items online.
There are several platforms you can use to do this, but my favorites are eBay and Amazon.
You can sell virtually any item on these sites, and you can make good money with a little bit of effort.
How Long Does it Take to Turn $100 into $500?
Depending on the method you choose, turning $100 into $500 can take one day or less in some cases.
If you choose a passive way to grow your money, like real estate or the stock market, it could take a little longer.
On average it can take around 7 to 10 years to double your money depending on your investment.
How to Turn $100 into $500 in One Year
Final Thoughts on How to Turn $100 into $500
Learning how to turn $100 into $500 is likely easier than you think.
There are plenty of ways to grow your money but you need to be smart about how you invest so you don't lose money.
The best way to turn $100 into $500 is through real estate investing with Fundrise and investing in stocks with M1 Finance. If you're willing to put in more work, flipping items can be an excellent side hustle to consider.