Wouldn’t it be nice to be a millionaire? I know I’d love it. If you have a lot of money it’s easy to make a million bucks, but can it be done with just $100 dollars? It is possible. You just need to know which channels are best for this, as well as how to make use of life-hacks, and find some creative ways to maximize your money. Read on to learn how to become a millionaire with $100 dollars.
How to Become a Millionaire with $100 Dollars
If you really want to become a millionaire and you only have $100 dollars to get the job done, let’s be honest. It’s not going to be easy.
It might also take you a very long time to get there.
You might also have to work pretty hard to make it happen.
With that in mind, let’s look at some of the ways you can turn your hundred bucks into a million.
1. Use your life-hacks to create quality products or content.
There are so many types of content you can create that can make you a lot of money. From eBooks for Kindle to eCourses that you can sell and pretty much everything in between.
Keep in mind, it isn’t a one and done. You can’t just create one course or one book and make a million dollars.
You’ll have to create a lot of content.
The nice thing is that you can even create journals with no words as well as planners and so on.
If you are good at something, write about it or create a product that teaches other people how to do it.
Amazon can be your friend when it comes to this.
Etsy is good for selling digital products.
Your only limitation is your imagination.
If you’re creating digital products, it won’t even cost you $100 dollars. You can do it for free.
2. Start a blog about money-making methods and monetize them.
One of the most popular blog niches is how to make money.
It’s also one of the most competitive.
Even so, with a lot of work, you can make 7 figures with this type of blog.
You can make money with ads and selling your own products and or other people’s products.
It will take you less than $100 dollars to get started.
3. Start an Amazon business.
This is one of the fastest ways to turn $100 into a million dollars.
Yes, it is still going to take some time, but it will be much faster than starting a blog.
Decide on what you want to sell on Amazon. Books are a good place to start and then move on from there.
Check around your house to see if you have any books that you can sell.
Then head out to thrift stores and book sales.
You can also put an ad on Craig’s list saying you’ll come to pick up books and haul them away for free. This does work.
Anyway, however you get started, you’ll need your $100 dollars to pay for the books.
The key here is to reinvest all of your profits for the first six months or better yet the first year.
You will be able to grow your business much faster and reach the seven figures you’re looking for.
This may seem impossible, but there are many people doing this right now.
4. Invest your $100 dollars and add to it each month.
You can invest in stocks, bonds, real estate, etc. if you want to increase your $100 dollars.
Remember, it takes time and effort — you aren’t going to become a millionaire overnight if you do this.
It can take decades to get to your million dollars, but if you continue to add to your investments, and with the magic of compound interest, dividends, and stock splits, you can get there.
Investing can be risky so it is important that you do some research on each investment before deciding what you plan on investing in, or talk to a professional stockbroker before you invest in anything.
You don’t want to put your money into something that is going to lose value!
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5. Start a Youtube channel.
Create a Youtube Channel that has videos of product reviews, tutorials, and just showing some cool things that you are passionate about.
There are Youtube stars out there that make millions of dollars a year.
There is one little kid that reviews toys and he is bringing in $35 million dollars a year.
If you have a passion, put it up on Youtube.
You never know what will catch on.
You can get started for $100 or less. You’ll just need to buy what you plan on reviewing.
6. Become a Day Trader with Your $100 Dollars
Truth be told, in the United States the federal government requires you to have $25,000 dollars in your investment account to day trade, so your $100 dollars isn’t going to get you there.
If you live elsewhere, you might be able to start day trading with this small amount of money.
Keep in mind, day trading is very…very risky and it is possible to lose all of your money quickly if you don’t know what you’re doing.
As a day trader, you will buy and sell a stock on the same day.
You will never hold a stock overnight.
7. Become a Swing Trader with Your $100 Dollars
A swing trader is similar to a day trader but they hold their stocks longer.
They aren’t going to buy and sell on the same day.
Depending on the stock, they will hold it for a few days to a few weeks.
Swing trading doesn’t have the same minimum account requirements as day trading does.
Even so, there is a really good chance that you will lose all of your money when you have such a small start-up capital.
8. Build your personal brand to build up a following
Build up your brand on Instagram, Twitter, Pinterest, Facebook, or any other social media platform that you want to use to increase your personal brand.
Think about all the people out there that are famous for just being famous.
They haven’t really done anything to become famous.
All that they did was build up their brand.
This won’t cost you a dime to get started.
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To Sum it All Up:
There are many ways you can turn a small amount of money into a larger amount. In most cases, it is going to take some time and a lot of hard work. You’ll also have to reinvest your profits so you can build your business. That is how you can make a million dollars.
Please note: This article is for informational purposes only and should not be seen as financial advice in any way. If you want to learn more about investing your money, please seek out a licensed professional investment broker.