If you have an extra hundred dollars, you might be wondering how to turn $100 into $1,000 dollars and then even more. Well, you’re lucky to be alive at this point in history even with the crazy world we live in. There are more ways to take a small amount of cash, like $100 dollars, and turn it into a big chunk of change than ever before. Here are some of the top ways to do just that.
How to Turn $100 into $1,000 Dollars
Now, the way you decide to go about this depends on how fast you want to grow your hundred dollars.
With some of these options, you will find yourself making money from your original $100 investment in mere days.
With others, you will be looking at a long-term investment.
The choice is up to you.
So here we go…
1. Buy Stuff to Sell on eBay or Amazon
You’d be amazed how easy it is to find things to sell on eBay or Amazon.
When it comes to Amazon, one of the best ways to get started is to sell used books. I used to do this myself.
People can make thousands of dollars a month doing so.
It is kind of crazy.
You can take your $100 dollars to a thrift store or even a used bookstore and scan books using the Amazon Sellers App (it’s free) and if you find a book you can make a profit on, you’re good to go.
Another product you can get started selling on Amazon is groceries. Some are gated, meaning you have to get permission to sell, but there is plenty you don’t.
Again, just use the app and find some items you can make a profit on and you’re on your way.
What is even easier is to find items at thrift stores to sell on eBay.
I know many people who do this for a full-time living.
I’ve also done this myself.
Items I have sold on eBay:
- Used clothing (especially larger sizes)
- CDs (you can make a lot of money with these)
- Postcards (I still sell them even today)
As well as miscellaneous items I have found along the way such as a macrame owl on a piece of driftwood (paid $2.00 sold for $89) and a music box (paid 50 cents sold for $69.)
The point is, there are all sorts of things you can find to spend your $100 dollars on that you can turn around and in just a few days to a couple of weeks, start making money with.
To get started you can even find things in your own home.
2. Start an Online Business
There are so many online businesses you can start that I can’t cover all of them here.
If you have a skill, you can have a business. It really is that simple in today’s world.
Here are some businesses you can start for $100 or less.
You might also enjoy:
This is where the skill comes in. Are you a good writer? Do you know how to code? Can you design websites? Are you a graphic artist?
Any of these skills can be offered as a freelancer.
I started freelance writing years ago, on a whim, to make extra money, and boom, it became a full-time well paying job.
It cost me $12 dollars to buy a domain name and about $5 a month for hosting.
Honestly, I could have done it without those two things and it would have cost me zero dollars.
But freelancing isn’t limited to writing.
You can freelance with any skill you have such as:
- Creating Kindle books or covers
- Fixing issues on WordPress blogs
- Graphics – logs, banners, business cards
- Brand awareness
The list goes on and on.
All of these freelancing businesses can be started for under $100 dollars and can make you well beyond $1,000 and even become full-time careers if that is what you want.
2. Start a Service Business
While there are an amazing amount of online businesses and side gigs you can make to take your $100 dollars to $1,000 dollars, don’t fear if you aren’t cut out for that sort of thing.
There are plenty of off-line businesses you can start as well.
A couple of my favorites include lawn care and cleaning.
There is a real need for lawn care and while lawnmowers are pricy, you can buy a used push lawnmower for under $100 bucks.
You might even have enough left over for a leaf blower and trimmer.
I picked up a used trimmer at a thrift store for $10 dollars.
Print up some flyers and you are in business.
Once you get a few clients, you will find yourself very busy just from word of mouth.
Do a good job and you will quickly get to $1,000 dollars and beyond.
The same goes for starting a cleaning business.
Once again, all you need are a few cleaning supplies and some flyers and you are in business.
I know a woman that had her own cleaning business in Florida.
She charged $50 an hour.
There were plenty of wealthy people around (she lived on the beach near me) and they were happy to pay it.
She made more than me and I was working in banking at the time.
Not to mention when my folks lived in South Carolina, they had a lady that cleaned their home.
She charged a flat $75 dollars.
She did an amazing job, but it usually only took about an hour and a half for her to get the job done.
There is really good money in house cleaning.
If I wasn’t so bad at it, I might do it myself.
Lawncare and cleaning are something you can start right away, be your own boss, and it costs very little to get into.
If you live in the southern part of the country, you might even be able to mow lawns year-round.
Here is Illinois, my lawn guy shovels snow in the winter.
In the summer, he does a lot more than mow.
He also does landscaping and in the fall takes care of leaves.
3. Become a Virtual Assistant
Virtual assistants do all kinds of things. Typically, they will specialize in one area.
For example, you could be a virtual assistant that performs one of the following tasks:
- Accounting or bookkeeping
- Social media management
- Making pins and pinning them to Pinterest
- Making phone calls for a business
- Paying bills
- Sending invoices
- Answering phones
- Any task that an assistant in a business does
Again, this can be a part-time sort of thing or you can build it into a full-time job.
You won’t need a lot of money, if any, to get into it.
Most of the tools you need are free or have free versions of them.
So, if you have experience with any of the above or want to learn about one of these areas, it’s a great way to turn a little bit of money into a lot of money.
4. Start a Blog or Nitch Site
Blogging is a great way to make money. However, and this is a big, however, it takes time.
You can’t start blogging today and start making money next month.
If someone tells you differently, they are lying.
It can take a year to three years to start seeing a good income.
Once you get there, let me tell you, it is a great place to be.
The advantage of blogging or starting a niche site is that it doesn’t cost much to get started.
- A domain name ($10 dollars)
- Hosting (about $5 dollars per month)
There are other expenses but those come down the line.
If you are going to do all the writing, then you don’t have to pay for content.
All it will cost you is your time.
Again, this isn’t a quick way to turn $100 into $1,000 dollars, but it can set you up very well going forward.
Once you get a few months behind you and into a year you will be shocked just how much money you can make.
The potential is only limited by the amount of work you are willing to put into it.
5. Invest your $100 and Watch the Magic of Compound Interest
If you are willing to wait a while and you don’t want to have to actually work to turn your hundred dollars into a thousand dollars, then investing might be the way to go.
You want to stay away from penny stocks and risky investments, but there are ways to invest a small amount of money such as $100 dollars.
Personally, I use Acorns.com to invest small amounts.
It is an app and you can use it in several different ways, but one option is to invest a lump sum.
It will take years for your hundred to grow into a thousand dollars, but due to the magic of compound interest, it will happen without you having to do a thing.
6. Find a Need and Offer a Solution
People are looking for solutions.
If you can find a need that needs a solution, then you’re set.
Just think about all the things around you.
Many of them were created to solve a problem or take care of a need.
People have made millions filling a need.
There’s no reason you can’t take your $100 dollars and do the same.
If you find the right need and solution, you could end up having all the money you will ever want or….need.
To Sum it All Up:
There are a number of ways to turn $100 dollars into $1,000 dollars. One of the easiest is finding things in thrift stores or on sale to turn around and sell on eBay or Amazon. You can also start your own online business or become a freelancer. The options are endless. Just find something you enjoy and get busy.