When it comes to making money or allowing your money to grow, most people will turn to the old standby or cookie cutter ways of making a buck. Some of the most popular are annuities and iras grayslake il. With these types of investments, you will grow your money over a long period of time which is good for long term investments, but what are you going to do for short term investments?
Flips and Side Hustles
Flips and side hustles are really popular. With these ways of making extra income you can take a small investment around one hundred dollars and with some creativity and elbow grease turn it into three, five or even a thousand dollars.
How flips and side hustles work is you will take a small amount of money and purchase something that you can either use to perform a service or can flip for a sale. For example, if you took money and purchased a rake, a lawn mower and a few tool s you could easily go and start a lawn care business. With this hundred dollar investment you can charge twenty five, fifty or even more to do specific tasks in a yard,. Once you make back your initial investment you are in pure profit.
With the side hustle you can really make it expand out into new areas of interest. What was once a hobby can really turn into a major business.
Invest in high return options
You can find a lot of options online where you can save money that will pay six, seven even nine percent of what you have in the account. What you will do is take a portion of any extra side hustle money you make and put it into these accounts. Over time they will begin to grow. As long as you don’t touch them and really monitor their growth you can have a nice piece of change that you only put a little investment into.
It is all about using your creativity to make money. The more creative you are and the wiser you are with your initial investment the more money you can make at the end of the day.