Suppose you wanted to begin investing today, but you only have $100 to begin with? No problem! It’s all about putting it to good use. First off, that “only $100” mentality has to go out the window. Plenty have started with next to nothing and turned a profit.
While it may not seem like much, there are plenty of ways to invest 100 dollars.
1) Bank It
You can always go the obvious and safest way to invest your money, stick it in a bank. There are pretty attractive interest rates around, mostly for online banks. I personally use OptimizerPlus from Synchrony Bank. Currently they’re offering a 1% APY High Yield Savings account.
While it may not seem like much to invest, buying into the stock market with $100 is a nice way to get started. I currently use ShareBuilder’s automatic investing feature. It allows you to invest a set amount of money automatically in regular intervals.
I currently invest $100 every two weeks, although it’s not absolutely necessary to do that much. One of the best benefits of automatic investing is the ability to buy portions of shares. An example given, is say you do have that $100 to invest, but the stock costs $55.00. Traditionally you could only buy one share and only have $45.00 left over. Instead, with Sharebuilder’s automatic investing, you can buy 1.7 shares of the stock. Pretty cool right?
Anyway, your $100 might not make much alone, but invested over time can make you money in the long run.
3) Start A Website
Starting a website like this one which is simply informative is a nice way to invest your money. It shouldn’t even cost the entire $100. You can get a domain and hosting pretty cheap these days. You can probably get both for under $50.
There is a little work to be done afterwards. As always I advise installing WordPress, but to each his own.
Have you ever heard of drop shipping? If not let’s make this as simple as possible.
You get to sell products, without ever really having to stock these products yourself. You’re basically working as a middle man to sell products from another source, either the manufacturer or wholesaler, and get paid a commission along the way. The goods never even touch your hands.
Dropshipping can be started with a website. As mentioned above, you should be able to get this done for under 50 bucks. Also I would still advise installing WordPress and a nice eCommerce plugin.
Here’s a nice guide to drop shipping.
Although it might seem like a long shot, investing $100 in what may seem like todays trash could be a big payoff in the future. You may have to work on a hunch, but if you can snag things that may be worth much more than their value in the future, you may be raking in much more money in the future. Some things can go for 10 times as much in the future, possibly even more.