If you have $50, you can use it to make more money instead of spending it mindlessly. A user asked the forum, “You have an extra $50 aside from your paycheck. What do you do to make more money using that $50?” Here are the common responses.
INVEST IN ETF
“I’d invest in an Exchange-Traded Fund (ETF).”
USE IT TO FLIP THINGS
“Use it to flip things on eBay/Marketplace/Kijiji and keep reinvesting the earnings till you have a good amount.”
BUY GROCERIES
“Buy groceries before they double in price next week.”
HIGH-INTEREST SAVINGS ACCOUNT
“High-interest savings account online. Mine earns 5.25%, started saving in May, and has earned $75 in interest so far; it’s starting to snowball. Now I deposit more than $50 a few hundred a check since I got my promotion.”
BUY DIVIDEND-PAYING STOCKS
“Buy dividend-paying stocks with that $50 each paycheck. Before you know it, you will have a steady income that increases over time.”
BUY DIGITAL PRIVATE LABEL RIGHTS
“Buy great digital Private Label Rights (PLR) products to resell on Etsy. I’ve made the most passive income with digital products.”
BUY A COFFEE MAKER
“Buy a coffee maker and quit Starbucks.”
SNIPE VIDEO GAME
“Snipe video game skins for under market, sell for market, repeat. But I already do this, make like $200-600 a week depending on how much work I put into looking for the skins (usually spend $45).”
BUY A LAWN MOWER
“Buy a lawn mower and a weed eater and mow a few lawns a week.”
DRAFTKINGS
“DraftKings sports betting.”
HIRE A RESUME WRITER
“Hire a professional resume writer, send out 1000 applications for a better job, and get an interview.”
SELL PAINTING
“I buy a canvas, paint some sunflowers, then sell it for $200-$300 on social media. People love sunflowers.”
INVEST IN A COURSE
“Invest in a course that will teach you a high-income skill. The fastest and easiest way to get money is to invest in yourself. Then, once you have extra money, you can invest in other things. I recommend you read the book titled ‘I will teach you to be rich.'”
SPEND IT ON NETWORKING EVENTS
“Spend it on networking events and get face to face with people I can learn from and solve problems for.”
TRADE IN FOREIGN EXCHANGE MARKET
“Trade in Foreign Exchange Market using high leverage and small lot sizes.”
BUY ZERO DAYS TO EXPIRATION OPTIONS
“Buy Zero Days To Expiration (0DTE) options. If they don’t pan out, it is only $50.”
DONATE
“I donate it to a good cause or my local church. Karma is real, and if you give what you can (from my experience), it comes back in ways you cannot imagine. Even if it’s $5.”
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This article was originally published on Mrs. Daaku Studio.