Do you have money to spare? Tired of letting your cash collect dust in a savings account? Or maybe you’ve just got a few dollars that you’re like to turn into more. Regardless of your financial situation, you can make money turn into more money. Read on to learn how to flip money and grow your stash.
How to Flip Money
Depending on the amount of money you have to flip, you’ll want to go about it differently.
If you don’t have much, you’ll need to find ways that you can turn $100 dollars into $1,000 dollars or even $5 dollars into $20 dollars.
If you have a bigger stash, then you might be looking at ways to turn that pile of bills into a much bigger one.
We’ll look at both below.
1. Flip Your Spare Change with an Investing App Like Acorns.com
If you’re looking for an easy way to invest your spare change, check out Acorns.com.
Acorns is a “micro-investing” app that rounds up purchases on the credit cards and bank accounts linked to the account, invests those pennies in a portfolio of ETFs and stocks that you choose, and pays out dividends every quarter.
It’s like having your own investment account without having to do any work at all.
And those pennies really add up: over time, Acorns can turn $5 here and there into a few hundred dollars (or even more!)
You can also have a set amount taken out of your bank account each week or month and put it into the app as well.
This will help grow your money faster.
I’ve been using this app for a while now. I like it because I invest money without even thinking about it.
Wish you had extra money to spend on books, music, and movies?
Sign up for Swagbucks.
Swagbucks is a great way of making money online while doing the things you already do online.
It tracks your internet activity and gives you points for each “activity” which can be redeemed for Amazon gift cards or other prizes.
3. Buy Homes and Flip Them
Here’s another great way to flip money.
Buy a house, fix it up, then resell it for more than you paid.
Your first step is to find a good house to flip — one with good bones, one that’s basically sound but in need of some updates and repairs.
Get your financing lined up so you can buy the property.
Then make the repairs and upgrades as quickly and for as little money as you can.
Put the house back on the market when you’re finished and if all goes well you will end up with more money than you started with.
4. Buy Items at Thrift Stores and Sell Them Online
Thrift stores may be great for scrounging up the occasional deal on dinnerware, but they’re also a goldmine for making money.
Any time you find yourself at a thrift store, keep your eyes peeled for items you can resell online.
CDs, DVDs, and even textbooks can earn some serious cash in your pocket — particularly if they’re in good condition.
Today there are thousands of people using eBay to sell stuff from thrift stores.
5. Buy Used Books and Sell Them on Amazon
Another simple way to turn your stuff into cash is used books.
You can make a fortune by buying cheap used books from thrift stores and garage sales and then reselling them on Amazon.
If you are able to get your book-selling business up and running, you can use your profits to buy more books and resell those as well.
This is a great way to further increase your bottom line.
How much money can you make selling used books? It’s up to you, but the sky is really the limit.
I’ve sold books on Amazon myself. It was a great way to take a few dollars and turn it into much more.
If you really enjoy it, you can easily make this a full-time job.
6. Flip Art Shares
Another unique way to make money is through art shares.
This is a fairly new concept, but one that makes sense, and offers some great opportunities to artists as well as investors.
How Does it Work?
Basically, you will be purchasing shares of sculptures, paintings, or other pieces of art and then reselling them through an exchange.
If you’re able to make your initial investment back through sales, you can expect to see a return in your investment anywhere from 6 months up to several years (or more.)
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7. Sell White Label Products on Amazon
If selling books on Amazon.com isn’t for you, there are other options.
This one involves white label products on Amazon.
You buy the product from a manufacturer in China (many of these manufacturers even ship directly to Amazon’s distributor warehouses) and then sell them under your own brand name on Amazon.
You will need to purchase your own inventory tracking software, and most likely find a 3PL (third party logistics) company to handle shipping.
I know people that sell a million dollars worth of products monthly and even more.
It’s a bit trickier to get into than selling used books, but the profits make up for it.
8. Trade Commodities
Commodities are things like gold, silver, bacon, corn, wheat, and so on.
Commodity trading isn’t for the faint of heart.
You’ll want to do your homework before you consider diving in.
It’s a risky business, so be prepared to lose your investment.
9. Buy and Sell Stocks
This is another risky way to flip your money.
If you have at least $25,000 dollars to put into your investment account then you can day trade in the United States.
If you have less than that you might want to try swing trading which is still risky, but not as risky as day trading.
Both can make you a lot of money and flip your money quickly.
But both are very risky.
If risk concerns you real estate investment might be a better option for you.
Not all real estate investors flip houses. Many of them buy properties to rent out.
My old landlord had 17 houses that he rented.
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To Sum it All Up:
There are many ways to flip your money. Some are easier than others and some come with a lot more risk than others. Decide which one is right for your personal situation and then go for it. All you’ve got to lose is money.
Please note: This article is informational only and is not financial advice. If you decide to invest in stocks, please consult a professional, licensed financial advisor first.