If you have $100 and you want to turn it into more money, the good news is that you have plenty of options.
But which ones are worth your time?
I've tested countless methods to help you find the best ways to turn $100 into $500 or more so you can watch your money grow.
Best Ways to Turn $100 into $500
1. Invest in Real Estate
Real estate is one of the best money making machines that anyone can use to grow their wealth. There are so many benefits of real estate that can make it an attractive option whether you've got millions to invest or just $100.
With this compound interest investment you can start with as little as $100 and earn a fantastic return on your investment.
This is my second full year of investing in real estate and there's no doubt it's been a solid investment.
While there are many different ways you can invest in real estate, my favorite method is Arrived.
Arrived takes all of the hassle and headache out of real estate investing by managing the properties themselves and you can get started with just $100.
Here's what I love about investing with Arrived:
- The minimum investment is only $100 – so anyone can get started
- You can pick and choose exactly which properties you want to invest in – giving you more control
- You get paid quarterly dividends depending on your investments performance
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. It's definitely a more unique way of investing – which allows you to diversify your portfolio (something every financial advisor recommends).
For example, if you're an investor to flip a house and they have $10,000 worth of work to complete the flip, they can use Groundfloor to secure funding to complete the job. In exchange, Groundlfoor offers investors (you) a solid return.
Groundfloor is excellent option to make more money and invest in real estate headache-free.
Finally, using a real estate investment trust (or REIT) can be another great hands-off investment in real estate.
A REIT is basically a public 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.
Personally, if I was going to invest in a REIT, I would just invest with Arrived, but a REIT does offer one key advantage – liquidity.
Because you can sell your shares at any time, you can have easy access to your money if you need it.
I recommend using a platform like Acorns to invest in REITS. With a free $10 welcome bonus – this is the best investing app to grow your money that I highly recommend.
2. Invest in the Stock Market
Another great investment to turn $100 into $500 is via the stock market.
Most people get scared when you mention to stock market, but you shouldn't be!
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.
Curious how much you can make?
In most years, stock market investments will increase around 7% to 10%. While this may not sound like a ton, you'll be surprised how fast your money will compound.
If you're just getting started, I recommend using an app like Acorns to get started. This is a super easy to use platform where you can easily invest in a diversified portfolio that experts have put together for you.
Additionally, you'll get $10 free to invest when you open a new account.
3. 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.
You can invest in restaurants, breweries, and just about everything in between.
They have target returns of 10% to 25% annually making it a solid investment if you're looking to make money quickly.
Again, this is one of the more volatile investments, but it can be a great option if you're looking to diversify your portfolio.
The minimum investment is $100, so I recommend starting with real estate or the stock market first before investing with Mainvest to turn $100 into $500.
4. Flip Things
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 need to find items at a discount and sell them for a profit.
Okay, maybe I'm making it sound a little bit too easy.
To be honest, flipping can require a lot of work. But, it can be extremely profitable.
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.
For example, this furniture flipping business created a Facebook page with over 1,000 followers!
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.
5. Start a Blog
Starting a blog is a great way to turn $100 into $1,000 or more if you do it right. That's a big if, though!
I've been blogging for 3 years now and I have consistently earned over $10k a month, and I'm confident you can do the same!
Here are the earnings from my portfolio of blogs.
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 serious time to get your blog off the ground and making money. It did for me, so don't expect to become rich overnight!
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.
The cost to start a blog is minimal making it a great side hustle you can start with no money – which is one reason why I recommend it so much.
You'll need to secure a domain name and hosting for your blog, which can amount to $100 annually when using Namecheap and SiteGround.
Once purchasing hosting, you can install WordPress and select a theme for your blog to get the look and feel you desire. This is completely free.
Once your blog is up, it's time to start creating content and promoting it online. Without a doubt, this is the most difficult part.
If you want to earn money online, blogging is one of the top paying side hustles you should consider.
6. 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.
I only recommend holding a small percentage of crypto because of how volatile it is.
By using a platform like Binance, you can get started with as little as $5. Sign up below to get started!
7. Start a Podcast
Podcasting can be another great way to start making money online whether you're a beginner or pro.
It's somewhat similar to blogging in that it can take a while to get your podcast off the ground but once it gains steam, it's nearly impossible to slow down.
Wondering how podcasts make money?
There are so many options. Show sponsors, affiliate marketing, selling digital products or courses, and much more.
If you are good at speaking, have solid communication skills, or know a ton 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, which isn't a big deal. I know some people who even use the microphones on their phone to record, so don't let that stop you from starting!
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.
Below is a great video with some tips to starting a podcast!
8. 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. Or perhaps gardening if you want to compete with Kevin's empire Epic Gardening.
Once you know what your channel will be about, you can start creating videos around the topics in your niche. 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 Adsense 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 $20k a month or more for many YouTubers.
If you're willing to do the work, starting a YouTube channel can be a tremendous way to turn $100 into $500.
9. 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 much more profitable venture.
There are plenty of business ideas for men and women that you can start with $1,000 or less.
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 become your full time job.
In addition to being able to make a fortune by starting a business, you get other benefits as well.
For example, for my business, I can wake up whenever I want and work as much (or as little) as I want. This is a huge benefit that gives me more flexibility with my time.
Don't get me wrong, it's a lot of hard work. But it is 100% worth it.
10. 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.
Another option is Tellus.
With Tellus, you can earn interest daily on your money.
Currently, the base rate is 5%, with the ability to earn even more by applying “Boosts” to your account. This means you can earn over 6% or 7% some days!
It's worth noting that this isn't an actual bank account, but your money is backed by real estate assets, which should give you some comfort. If you're interested in learning more, check out my Tellus review to find out the pros and cons of this unique account.
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.
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How to Turn $100 into $500 in One Year
The best way to turn $100 into $500 in one year is by flipping items, investing in a small business with Mainvest, or using Arrived to grow your money with real estate investing.
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 Arrived and investing in stocks with Acorns. If you're willing to put in more work, flipping items can be an excellent side hustle to consider.
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