Searching for the best and most reliable ways to invest $100? Just like many others, do you also aspire to invest $100 to make $1000 a day? Well, there are numerous ways out in the market, but the question is if they are safe and reliable or not. Unfortunately, various people try using shortcuts and end up losing their money. While investing, you need to make sure that the channel you are investing in is trustworthy; therefore, check all the pros and cons before investing.
The truth is that it is not easy to turn $100 to $1000 in a day; it takes some hard work and dedication. But, with the advent of fast-goring technology, things have become relatively more accessible; now, you can multiply your money by doing just a few things sitting at home. Want to know how? Let’s check it out.
20 Best Ways to Invest $100 to Make $1000 a day
Below-mentioned is a list of some of the best and safe ways of making $1000 by investing $100 in a day.
1. Savings account
Opening a high-yield savings account is best for people who do not have any extra cash for an emergency fund; hence, it is recommended to save your money. You will be able to get a good interest rate with high-yield savings accounts from any online bank.
This option is not the most exciting but is one of the best ways of investing money as it is absolutely safe. Use this medium if you want to grow your money and seek better opportunities rather than dumping it in a bank account. In fact, you can also contact your account manager and ask for his advice to invest and make cash.
High-yield savings accounts do not work like regular bank accounts. You can set up the account within minutes, plus their rate of interest is pretty high. Before choosing to invest, check various banks and opt for the one that gives more interest, has no ongoing fees, has no minimum deposit required and is safe.
2. Start a blog
This is one of the easiest methods to invest $100 to make $1000 a day. You can start a blog on anything you like and want to share your views about. For example, education, fitness, sports, etc. You can start the blog for less than $100, and it starts working within an hour.
In just a couple of years, blogging has become one of the most popular methods of making money online. All you need to do is purchase a domain name, set up a hosting plan and start creating blogs. Starting a blog is a straightforward process, plus you are also creating a positive impact on your reader’s life and making a good amount of money.
If you are not aware of how blogging works, let us understand it in detail. For example, if you wish to start a blog website on fitness, so you can write different blogs, or if you are not too good at writing, you can go ahead and hire content writers.
As you post articles on the website, initially you might not get a lot of views, but as you post informative and good-quality content, your views will increase, and you will be able to make a good amount of money through it.
3. Robo Advisors
You must be wondering what Robo-advisors are; they are AI-driven software programs that invest the money for you. They render a low-cost and flexible option to multiply your money as per your personal finance goals. In addition, it offers users online portfolio management that does not require human touch to operate your portfolio.
It has digital platforms that give automated and algorithm-driven financial planning services with no human involved. Some of the primary services it offers are tax optimization, automatic rebalancing, etc. For tax-efficient investing, you can open an investment account in Roth IRA or 401K.
The best part about it is that Robo-advisors are fully-automated and require minimal possible. It uses apps and websites to understand your financial goals and suggests you the best investment strategy. The only information that you need to provide is your age, income, family size and risk tolerance.
4. Invest in the stock market
Investing in shares can be a great way of investing and earning money. There are many people whose source of income is the stock market, and with the advent of crypto, you have even more investing options.
You need to make sure that you do not trade through brokers who charge high transaction fees as they can eat up all your profits. Instead, as a beginner, you need to opt for a broker or exchange that charges a smaller transaction fee so that you can save some money.
But, before you invest your money, get yourself educated and understand all the aspects of the share market so that you do not lose all your funds. The good part about investing in the share market is that its annual return is usually much better than the high-yield savings account. Therefore, investing in the stock market is one of the best options for making long-term investments.
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5. Invest in cryptocurrency
Numerous people became rich after investing in crypto. Within just a couple of years, crypto has gained a lot of popularity because of the profits that people make from it. In addition, the price of Bitcoin has increased immensely in the last few years, so if you had invested $100, it would have become more than $1000 today.
You also need to keep in mind that the crypto world is volatile, and a lot of people think that it is just in the starting phase; therefore, it will be entirely adopted within the next few decades.
But, to date, many people have earned a massive amount of money through crypto; in fact, no bank can pay you the return that crypto offers. So, be careful while investing and invest only the amount which you can lose, do not put all your savings in the share market or crypto.
6. Start an e-commerce business
You can also begin with your e-commerce website and start selling products. In fact, if you have any products that you wish to sell, you can also post them on sites like Amazon, Flipkart, Myntra, Shopify, etc. Of course, the money you make will depend on the type of product you make and how nicely you develop your business.
You will have to make a marketing plan as to what you will sell, how you will promote it, and on which website you will post it for selling. You can sell anything such as clothes, soaps, hand-made jewelry, DIY items, etc.
It has great income potential, but the primary thing you will have to do is focus on advertising. You can post links on your social media platform or contact influencers to promote your product. This can help make a good amount of money; hence, this is the best option if you want to invest $100 to make $1000 a day.
7. Dropshipping business
This business is trending globally because of its benefits. It is one of the guaranteed ways of making a good amount of money on your investment. In fact, as per a report, various people have earned millions of dollars just dropshipping alone.
The best part about dropshipping is that you will not require keeping inventory in-store or warehouse; you can sell the products to your clients, and you even need not take care of the delivery as that is also taken care of by the seller.
You can use various platforms, like WooCommerce, Ali Express, Shopify, etc. It is a legitimate online business; all you require is to promote the company’s product; as soon as the customer places the order, the company will deliver it to the customer’s doorstep, and you will receive a good commission for that.
8. Invest in self-development
The first thing essential in life for making money in any field is investing in self-development. You can read books and newspapers or take online courses; all of this can help you find new ways of making extra income. If you are interested in writing, start your blog, or if you have any good ideas, you can also create your own YouTube channel.
All this is possible only when you research and self-analyze your interest. Also, this will help you find what is trending; this way, you will be able to start your new venture with what is most preferred by the customers. Self-development is vital to learning how to invest $100 to make $1000 a day.
9. Make YouTube videos
Creating YouTube videos is an excellent way of making a good amount of money. But, the money you earn will depend on the type of content you post and the views you get. Therefore, you need to ensure that your videos are of good quality, informative, and entertaining. Also, it would be best to keep in mind that you should post regular videos so that the customers stay engrossed.
If you become popular, you will be able to make thousands of dollars in a month, although it is a slow process. Initially, you will have to invest by promoting your content and sharing it on all social media platforms.
For starting your own YouTube channel, you will require to choose a niche for creating videos, get a good camera, or you can also use your smartphone and lights to create a professional-looking video.
10. Give walk tour activities
Yet another exciting and fantastic work that you can do on your weekend and make money. All you need to do is give tour activities; it is a fast and easy investment method. You can earn $1000 in just a couple of hours by taking the tourists in your area to the best & unexplored places plus you can also tell them the history related to it.
This is an excellent opportunity to make money if you have an interest and knowledge about the nearby places in and around your city. Let us understand this by an example when people go to a tourist place they want to know more about the place, some local information, good authentic food, etc.
You can charge around $100 for 3 to 4 hours and give them a walk around the city and give them every detail you are aware of. The calculation shows that even if she works on weekends, she will be able to make more than $1000.
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11. Use fractional shares to buy stocks
The first thought that comes to mind when you think of investing is the stock market or trading. But you can also opt for fractional shares; they are a slice or fraction of an individual stock. People opt for this because it facilitates you to use $100 to purchase stocks that you could not have been able to afford otherwise.
In fact, the best thing is to diversify your $100 investment in different shares to make your portfolio strong and distribute the risk. Fractional shares make investing easy as here, all you need to do is tell your broker the amount you want to invest, and he will invest that for you.
Let us understand this with the help of an example if you invest $100 in a stock that is for $1000; your account will show that you own 0.10 shares of the company. Therefore, you can purchase stock in a company even if you don’t have sufficient funds to purchase an entire share.
12. Create an online course
If you want to invest $100 to make $1000 a day, why not create an online course? These days there is a massive demand for online courses as people like studying sitting at home because it provides them with comfort, saves money, and offers flexibility to choose the slot as per their availability.
You can either create your own learning website or can sell it to other well-known platforms. For creating a course, you need to ensure that you are well-versed with the subject on which you are creating the course. Therefore, thorough research and knowledge are essential for creating any course.
You can create a course on any topic you like or know about; in fact, if you are good at photography, create a course on how to take good pictures, how to buy a camera lens, etc.
13. Affiliate Marketing
This is one of the proven ways to make $100 to $1000 quickly. Affiliate Marketing has been there in the market for a couple of years now, and the number of people who use it is increasing because of the high earnings it offers.
Let us first understand how affiliate marketing works; in this, you get a commission when someone clicks on a link and makes a purchase from the brand or company you are advertising for. It is an interesting and lucrative method of making money by just sitting at your home.
By making a few efforts, you will be able to earn in six digits; the best part is that there is significantly less investment, plus you need not keep any inventory and no delivery issues; the company itself does everything. You just have to take orders, and the commission will be credited to your account. The more you sell through your link, the more you will be able to earn.
14. Enroll in a course
There are numerous online courses that you can enroll in for less than $100 and make more than $1000 from them. You can pick any course, for example, photography, writing, graphic designing, web designing, software development, etc.
You can purchase the course from any online platform and get certifications. Pick a course that can prove helpful in your career as it will help you get an increased salary in your current job. In fact, it can also help you get a job in a new field where you can drop your 9 to 5 job and work as per your flexibility.
This can be a good investment for anyone but be vigilant while selecting the course. So, by just paying a small weekly fee, you can take the course and reap the benefits in terms of money in the coming years.
15. Buy and sell on eBay
Who does not know about this online platform? It is one of the oldest, most well-known and reputed online platforms for selling. eBay provides you with an option to sell products that you get at a discounted rate at a higher price. You can sell anything and everything on eBay and make a considerable return on your investment.
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16. Lending club
If you are looking for a higher interest rate than savings accounts, you can open an account with a lending club. It is an investment account or can also be said to be a peer-to-peer (P2P) lending service. It has different functionality than the regular savings account; you lend your money to individuals or companies who you think can multiply your money faster than you.
You will be amazed to know that it is the largest online marketplace worldwide for connecting investors and borrowers. Here you can invest your money in start-ups, real estate ventures, or any other investment option that you think is worth it.
The best part is that they give a fixed interest rate to the lenders plus your principal amount when the loan is repaid. So you will be able to make some sweet and more returns than the savings account. The minimum investment amount is $25; you can invest $100 to Make $1000 a Day.
17. Round up your savings
An app called Acorn rounds up your change automatically when you make a purchase, and it invests that money on your behalf, a pretty intelligent and easy way of investment. Therefore, all you need to do is sign up with them, and it will make the investments themselves and multiply your savings and money.
In fact, now they also allow users to select their professionally created portfolios that may work better according to the goals and risk preferences of the user. You will be surprised to know that the plan starts from $1, then it is for $3, $5, etc. You can choose the plan by checking the features you require.
The $1, i.e. the basic plan, will automatically round up your purchases and invest the spare change. In the $3 (personal plan) and $5 (family plan), you will get additional benefits such as checking and no-fee access at over 55000 ATMs nationwide.
So, the first thing you will have to do is download the app, sign up with Acorns and create your account. Then, choose the plan and start investing your money; it is recommended to opt for the personal or family plan to start off with your $100 investment.
18. Open a Roth IRA
IRA stands for an individual retirement account. This is an incredible investment option for you if you want to invest for retirement and above and beyond your company’s 401 (k). This is a retirement account that enables you to invest with after-tax dollars, and the best part is that the money multiplies tax-free, and you can withdraw it without paying any tax after reaching the age of 59.5 or beyond.
You can start investing with a smaller amount and turn them into a significant amount in just a couple of years. Let us understand this with the help of an example if you invest $100 a month in Roth IRA for 20 years. As per the organization’s S&P 500’s historical performance, the $24000 you invested will be around $120000.
So, to start off, you will need to open an IRA account, but you need to check if you are eligible or not. They have income cap limits, so if you have a higher income, you might not be able to invest. You can open your account from any well-known platform such as M1finance, Stash, etc.
19. Put in your 401 (k)
If you opt for any retirement-sponsored retirement plan or 401 (k), it can be an excellent method for investing your money. In this retirement plan, the money is directly debited from your salary and invested; you can start investing $100 a month. It is a pretty straightforward method of making an investment, yet a lot of people are unaware of it.
There are various employers that have plans matching your requirements; you can choose one and get your investment started. Let us understand this with the help of an example, if your employer matches 50% of your contributions, up to 2% of your pay. If your salary is $50000 a year, in this case, your employer will put $500 for the first $1000 that you invest. Therefore, it is an excellent profit of $100 a month that you invested.
Another benefit that you can avail of is that you also get some tax rebate if you invest in a 401 (k) account. In fact, you do not have to pay any tax on the income that you invest in the 401 (k) account.
20. Worthy Bonds
A lot of people are aware of this amazing investment plan where you can grow your funds seamlessly. Worthy is the name of a company that renders bonds to its users with a fixed interest rate of 5%. The minimum money required for investment is $10, and on a daily basis, the interest gets compounds in your account.
You can open the account easily; all you need to do is go to the official website of Worthy and choose the option for opening a new account. The best part is there are no hidden fees; the money you invest will be loaned out to the company that will positively impact the community.
The cost of every bond is $10; you can buy as many bonds as you want for investing. It is an excellent option for anyone who wants to get a 5% fixed return on their investments.
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Points to Remember
Here are a few points to remember as an investor so that you do not make any mistakes while investing; in fact, it can make it even better-
- If you are investing money, you need to keep in mind that along with investment comes risk as well. Therefore, before investing your money, please ensure that you can manage your personal financial responsibility well.
- Another important thing that you should remember is to pay the credit card debt or bills before making any investment. The interest rate of credit cards is so high that it will eat up all your earnings, so pay off your debt before any investment
- You can also keep an emergency fund in a savings account prior to commencing with an investment. An emergency fund provides you with a sense of satisfaction and helps you in case of any urgency or unexpected moments in your life.
- Before taking any decision, do your own research, do not go by the mouth of the word. Check the reviews, duration, interest return, etc., before investing. You can also take advice from professionals or experts in finance before investing.
One way not to invest
You have read about the ways where you should invest, but there is a way that is recommended not to invest in, and that is in penny stocks. They are low-priced stocks of small or thinly traded companies. They might have higher returns, but it has been seen that most of them are full of fraudulent activities, so it is not recommended to invest your money in penny stocks.
If you want to invest $100 to make $1000 a day, you can opt for these methods as they are fully secure and the best ways to get ROI. In fact, always select a high return method with no or very little investment required. Compare all the options before investing, do not be in a rush to invest, take your time and then make your final decision. So, all you require is the proper knowledge, planning, and dedication as there are numerous methods of making money by investing that can be quite profitable. Good luck!