HOW TO TURN $100 INTO $1000 (5 BEST WAYS)

Welcome back to the channel,

So most of us want to achieve that elusive “passive income”

and as we know the human race is very impatient

and most are simply not interested in making long term consistent slow moving investments that build into massive amount of cash

We want that money now.

So instead of focusing on talking about building something that may take decades to work towards,

we should talk about the best ways that you could begin to make money with 100 dollars right now,

with the view to making as much money as possible in the shortest amount of time

So why 100?

Well 100 is the amount that is within reach for people so it’s worth digging deeper into how you can invest that money straight away

and even though 100 might not seem like a big stack of cash

its more the education and strategies that you can implement weather you have 100 or 100,000,

because the strategies don’t really change when you invest in reality it’s just the zeros that change

So before we get into it, if you could please do me huge favour and hit the like button as it’s a great free way to support the channel, thanks so much for doing that for me and if you want to see more of these videos please drop me a comment below

Right, let’s get into it

So the 1st thing that pops into your head when it comes to investing is to invest in an index fund because the interest is typically near 8%

but we aren’t here for the long term and the reality being that 8% on $100 isnt going to be a life changing event

and there are better strategies out there that can give you a much quicker return

So if we are starting with $100 and that is all you have to invest and your ultimate dream is to be rolling around in that sweet stack of cash

then the very 1st thing you should invest in is your education….

Now there are countless videos like this rolling around youtube exactly like this

that tell you the exact same thing that education is number 1,

but they usually have an agenda and are pushing a program onto you or selling you a course for 997

But the truth is that a good education can actually make a significant difference in you life

and in return make you a large amount of money.

now these days you can pretty much buy everything you need to know for well under $100 or even for free

and these are what I personally recommend

The very first thing i would do is buy the Book, Think and grow rich by Napolean HIll

This is the very first book that I read from end to end

and right from the start I was totally immersed in the information.

For someone like me who had zero financial education from my parents this is exactly what I needed to be able to learn how to be the type of person who attracts wealth and with actionable tips through the entire book

This book is also now considered public domain meaning that it is 100% free and available to read online, so ill link it down below for anyone that wants to read it and take action

Now the second book that i recommend is the Magic of thinking big by David Schwartz

the Magic of Thinking Big details how to Achieve everything you always wanted: financial security, power and influence, the ideal job, satisfying relationships, and a rewarding, happy life.

It teaches you how to Set your goals high…then exceed them!

Davis Schwartz is long regarded as one of the foremost experts on motivation, this book will help you sell better, manage better, earn more money, and — most important of all — find greater happiness and peace of mind.

The Magic of Thinking Big gives you useful methods, not empty promises.

Believe you can succeed and you will:

-Cure yourself of the fear of failure

-Think and dream creatively

-You are what you think you are

-Make your attitudes your allies

-Learn how to think positively

-Turn defeat into victory

-Use goals to help you grow

-Think like a leader

Now you can get this book for free with an audible trial or you can probably find it at your local thrift store or on ebay for under $10

Now both of those books should easily cost you well under 50 bucks

and i promise you that if you actually go through them and take action

Then it will be near impossible that these books don’t pay for themselves a hundred times over the next 10 years

Now the second investment that you can make with 100 is within the stock market

Now if 100 is all you have then buying individual stocks is the best way to go

I know a lot of you will be saying that you can’t get any return half decent from the stock market with only a hundred bucks

and it’s too risky, you should be teaching good long term habits like index funds,

but no matter how you dice it, unless you are buying the next dogecoin or gamestop and get the timing absolutely perfect and ride it all the way to the moon,

investing 100 dollars is most likely not going to make you the big fat stack of cash

And even though i would recommend index fund investing for a consistent long term investment

if your only goal is to invest 100 as fast as possible with quickest and highest return possible

than buying individual stock has a lot more advantages that aren’t usually so obvious

So when it comes to stock market investing you can read all the books and study all the tips and tricks but when its your own money all of that goes straight out the window

You will find yourself panic at the slightest drop in your stock going down in price

or getting way too greedy as soon as your stock goes up faster than you anticipated

or getting extremely frustrated and impatient when your stock does absolutely nothing but stay flat

So treat that 100 as your way of getting into the investing world

and having real experience with your own money

in terms of managing your emotions and evaluating companies

and fully understanding the fundamentals of the business on your own

And learning what all the stock market terms mean

and get yourself a good real life experience education of what it takes to be an investor.

I am a very strong advocate for experience being the greatest teacher of all time

and you will be so glad that you had this experience early on in your investing journey

and with 100 dollars where you can make mistakes ahead of time

Its going to be alot more expensive losing money later or when your not sure what to do in certain situations

Now in terms of getting started I would recommend using a free stock trading platform that allows you to buy fractional shares and then research the companies that you use on a daily basis

There is also a ton of free resources on youtube, reddit, and many news sites and try to absorb as much information as you possibly can

So either way, it doesn’t matter which platform you want to start your investing journey with

your 100 dollars and a weekend of your free time to learn as much information as you possibly can

it’s really going to go a long way to giving you a better understanding of how to invest and control your emotions

Now third, and again if your only goal with you 100 dollars is to try to make as much money as possible in the quickest time

and if you are willing to put in the work you could use that hundred dollars into starting a service business.

A service business could be Lawn care, car washing, window washing and then of course asking all of your neighbors for a job,

now even better if you don’t have any equipment and want to make the most of your capital, you can always ask if you can use your clients

Now i know it such a cliche thing to say go and buy a mower and mow lawns

but the reality is it is a really viable way to make money and there is a reason why so many people do this

For example you could find a good second hand mower on facebook marketplace for under 100, or even better use your clients mower,

then go ahead and charge say $30 per hour for you time

and within the space of an afternoon that mower is completely paid for and everything else after that is straight gravy

This is the exact same strategy that I implemented at an early age,

I simply started by asking my neighbour if i could mow their lawn,

did a great job and then simply kept asking each house down the street

Its also the same strategy that people like Warren Buffett used when he was a teenager and you will find that many others started the same way.

The confidence that you will gain from speaking with people face to face and for getting outside and working will help you alot as you move through your working life

So even though it’s kind boring and cliche to go and start mowing lawns, just try and think outside the box and get creative on what services you can offer

It could be car washing, window cleaning, gutter cleaning just think of things that you could do with a hundred dollars and then simply go and execute it.

There is simply no other investment out there like this that will pay for itself many times over and over

The 4th is one that is often glamorized by so many tik tokers and youtube videos and that is flipping items

So the idea is simple that you could take an item like a paper clip and flip that into a house

And I know what you are thinking, surely this is impossible?

Then consider that there was a story of a lady who flipped her way from a bobby pin all the way up to a small cabin.

It can be done; it just takes 100% commitment to the hustle.

Getting started is as easy as going to one of the many second hand platforms and searching the free section

and just go and pick it up for free and then from there go on to clean it up and sell it to someone else for a profit.

There are always so many items that are given away each day,

Even kitchen sinks, just clean them up, take better photos and list them for sale.

The initial investment is obviously time and cost to pick it up but after that everything is straight cash

This is something that I have done in the past and something I teach a lot of people to go out and do and even go to garage sales and thrift stores for items to flip into profits

Gary vee talks about this a lot as a way to make money for absolutely free

and the fact is that almost everyone has access to make to work

as long as you are willing to put in the hours and hustle

Plus another upside is the experience that you will gain in terms of learning how to value items and market products,

how to work with other people and how to negotiate a fair price

Now if you want to take this up another level you could also buy items on ebay that

you know are worth more money that you could then re-list and sell later for a

profit

now even though you’re going to have to be mindful of ebay fees and shipping costs

if you know what to look for you could absolutely make money doing this with as

little as a hundred dollars

Now onto number 5 and the riskiest one of them all the one that everyone is talking about but also the one that scares a lot of people

and that would be using that 100 to invest in cryptocurrency

So anytime you invest your money there will always be a certain level of risk and reward that you have to take into consideration

What this means is basically the amount of money that you could make is directly correlated with the likelihood that you might lose the lot

For example if you throw 100 dollars into an index fund the chances of you outright losing any of that 100 over 20 years after inflation is pretty much zero.

But put that same 100 into cryptocurrency and you could either have thousands or even millions or absolutely nothing at all

That’s why the higher chance that you have of losing that money the more upside there is to gain and that’s where cryptocurrency sits

So you always here the stories about how if you invested 100 into bitcoin in 2009 you would have 50million today,

the fact is finding that next bitcoin or dogecoin or any other currency that would have that sort of return is purely just a stab in the dark

But you are confident in your research of a particular coin or type of currency and you want to invest 100 into it

and it has the chance to do well even though the risk of losing it far outways the upside.

And remember for every bitcoin, dogecoin and ethereum out there there’s a bitconnect that went completely bust when it was discovered to be ponzi scheme

So make sure you do you research and you’re familiar with what you are investing in

and i’m sure over the next 20 years this is really just the beginning

And even though the 100 dollars to 1million dollar stories are anomalies who know what the future holds

so if you want a high risk high reward way of investing a hundred dollars while

getting the experience of researching different projects along the way

then crypto trading is certainly a viable option

So really at the end of the day those 5 ways of investing 100 should really be put towards your education

as this will stay with you for the rest of you life

or be used to create a much larger amount of money to eventually have more of impact towards your goals

Spending your 100 dollars on something that you can learn from that gives you great life experience with a high likelihood of making money long term

All of these options in my opinion are will give you great experience

and a starting point and really no matter what happens long term to that 100 dollars

it’s going to be a great experience and teach you many skills that will stay with you for many years ahead