How to Make an Extra $1000 a Month Starting With Only $100  (2024)

According to research from Northwestern Mutual, “33% of Americans were already within three missed paychecks of having to either borrow money or skip bills.” Additionally, CNBC reports that 70 percent of Americans are searching for extra work to decrease the effects of inflation. It goes to show that most people are looking for ways to increase their passive income, long-term wealth, and financial security.

Still, it can be hard (and costly) to start building your bank account up if you work a full-time job. One effective way to do this is by making an extra $1000 a month using only $100. Whether you’re trying to pay off debt, save for a down payment on a house, or just want to have extra cash in your pocket, there are plenty of ways to earn more money each month with a small upfront investment or a part-time job.

In this article, explore high-value strategies for earning an extra $1000 per month with only $100 so you can earn extra cash, achieve your financial goals, and build the life you want.

Successful Entrepreneurs and Investors Who Started With Little Money

You might think, “There is no way possible that I can turn $100 into an extra $1000 a month.” However, history begs to differ when it comes to making extra income. Listed below are a few examples of people who turned a limited amount of money into millions (or billions).

1. Richard Branson: Richard Branson started his first business, a magazine called Student, with just $300. He went on to create the Virgin Group, which includes over 400 companies in industries such as airlines, music, and telecommunications. Today, Branson’s net worth is over $5.6 billion.
2. Daymond John: Daymond John is the founder of the clothing brand FUBU, which he started with just $40 worth of fabric. He grew the brand into a global fashion empire and is now a successful investor and TV personality on Shark Tank.
3. Sara Blakely: Sara Blakely founded Spanx with just $5,000. She sold fax machines door-to-door before starting Spanx, which has now become a billion-dollar company.
4. Warren Buffett: Warren Buffett bought his first stock at the age of 11 with just $114. He went on to become one of the most successful investors in history, with a net worth of over $100 billion.
5. Jan Koum: Jan Koum, the co-founder of WhatsApp, came to the U.S. from Ukraine as a teenager with his mother. During this time, they lived on food stamps. To build a better life, he taught himself computer networking and programming and landed a job at Yahoo. In 2009, he started WhatsApp with his co-founder Brian Acton, investing just a few hundred dollars each. WhatsApp was eventually acquired by Facebook for $19 billion, making Koum a billionaire.

18 Ideas for How to Make an Extra $1000 a Month With $100

1. Day Trading

Day trading is a high-intensity strategy that involves buying and selling stocks or other financial instruments in a short time frame, usually within the same trading day. While it can be risky, it also has the potential for high returns. With a starting capital of $100, you could start trading penny stocks or options, but keep in mind that this strategy requires a lot of research and knowledge.

To learn tips, check out The Traveling Trader YouTube channel for educational content on how to succeed at day trading.

2. Cryptocurrency Trading

Similar to day trading, cryptocurrency trading can be a high-intensity strategy that involves buying and selling cryptocurrencies such as Bitcoin or Ethereum in a short time frame. With the volatility of the crypto market, there is the potential for high returns, but also high risk—especially now during a time when there is a bear market and investment prices are experiencing a prolonged drop.

Still, if you want to try this strategy, there are several cryptocurrency exchanges that allow you to trade for less than $100. Some popular options include Coinbase, Binance, Kraken, and Gemini. However, keep in mind that there may be trading fees and other costs associated with using these platforms, so be sure to research and compare your options before investing.

3. Selling on Amazon

Amazon is one of the largest e-commerce platforms in the world, and you can make extra income by selling products on the platform. With a starting capital of $100, you could start by sourcing products from garage sales, thrift stores, or discount stores and selling them on Amazon for a profit. This strategy requires research and knowledge of what products sell well on Amazon.

4. Freelancing

Freelancing is another high-intensity strategy that can be done with a low starting capital. You can offer your services for freelance writing, graphic design, social media management, or any other skill you have, like being a virtual assistant or even pet-sitting. You can use platforms like Upwork, Fiverr, Freelancer, and Rover to find clients and start earning money. However, remember that building a client base takes time and effort.

5. Dropshipping

Dropshipping involves selling products online without ever handling inventory or shipping products. With $100, you can be a dropshipping business owner by creating an online store and finding a supplier to ship products directly to customers. This strategy can be risky, but if done correctly, it can be highly profitable. To start dropshipping, choose a niche, research products, and find a reliable supplier. Then, create an online store and promote your products through social media and other marketing channels to attract potential customers.

Find out more about dropshipping and the products you can sell with Oberlo.

6. Real estate crowdfunding

Real estate crowdfunding platforms allow investors to pool their money together to invest in real estate projects as a debt investment. Think of it like you are loaning the company money, along with a lot of other people. With as little as $100, you can invest in a variety of real estate projects, such as rental properties, commercial properties, and development projects.

To start investing in real estate crowdfunding platforms, you need to find a reputable platform and create an account. Once your account is set up, you can browse through available investment opportunities and choose the ones that align with your investment goals and risk tolerance.

7. REITs

Real estate investment trusts (REITs) are companies that own and manage real estate properties. By investing in a REIT, you can own a portion of the real estate portfolio without purchasing an entire property. Additionally, REITs are an equity investment that trade like a stock that you buy shares in. Some REITs have a low minimum investment requirement, so you may be able to invest with just $100. To start investing in an REIT, you can open a brokerage account and purchase shares of the REIT through the brokerage’s platform.

8. Affiliate Marketing

Affiliate marketing involves promoting other people’s products and earning a commission for each sale made through your unique referral link. You can start by promoting products on social media, YouTube, or a blog. To be successful in affiliate marketing, it’s important to choose products that are relevant to your audience and that you genuinely believe in. Building trust with your audience is key, so be transparent about your affiliate partnerships and only promote products that you truly believe in. Consistency is also important—post regularly and engage with your audience to build a loyal following.

9. Online Courses

Create and sell online courses on platforms like Udemy or Teachable. If you have a skill or knowledge in a particular area, you can create a course and sell it to people who are interested in learning that skill. When creating an online course, focus on providing value to your audience and creating a high-quality, engaging experience.

Take the time to research your topic thoroughly and organize your content in a clear and easy-to-understand way. Additionally, consider offering bonuses or extra resources to make your course stand out and provide even more value to your students.

10. Peer-to-Peer Lending

Peer-to-peer lending platforms like Lending Club or Prosper allow you to lend money to individuals or businesses and earn interest on the loan. You can start with as little as $25 per loan. Before investing in peer-to-peer lending, it’s important to do your research and carefully consider the risks involved. Start small and diversify your investments to minimize risk. Be prepared to potentially lose some or all of your investment, and don’t invest money that you can’t afford to lose.

11. Podcasting

Start a podcast and monetize it through sponsorships, affiliate marketing, or by offering premium content to subscribers. To grow your podcast audience, focus on creating high-quality content and promoting your podcast through social media, email newsletters, and other channels.

You’ll also want to collaborate with other podcasters or experts in your niche to increase your reach and credibility. Monetize your podcast by offering sponsorships or selling premium content, but be sure to prioritize providing value to your audience above all else.

12. Blogging

Successful bloggers often focus on a specific niche or area of expertise and provide valuable, informative content to their audience. By offering helpful tips, advice, and insights in your area of expertise, you can attract a loyal following of readers. Once you have built up a significant audience, you can monetize your blog through various means, such as affiliate marketing, sponsored content, or selling your own products. It’s important to remember that building a successful blog takes time and effort, but with dedication and perseverance, you can create a profitable online business.

13. YouTube Channel

Start a YouTube channel and monetize it through ads, sponsorships, or by selling your own products. Consistency and quality content are key to growing a successful YouTube channel. Engage with your audience through comments and social media, and collaborate with other YouTubers to increase your reach. To monetize your channel, consider offering sponsorships or creating a Patreon account to receive support from your most loyal fans.

14. Flipping websites

Similar to flipping real estate, you can buy and sell websites for a profit. With a starting capital of $100, you can buy a website, improve it, and sell it for a higher price. Before buying a website, do your research and carefully consider the potential for growth and profitability. Look for websites with potential for improvement, such as sites with poor design or low traffic. Focus on improving the website’s content and design, and market it effectively to potential buyers.

15. Mobile app development

If you have coding skills, you can develop mobile apps and sell them on app stores like Google Play and the App Store. To be successful in mobile app development, it’s important to have strong coding skills and a solid understanding of the app market. Research your competition and focus on creating a unique, high-quality app that provides value to your target audience. Consider offering a free trial or a freemium model to attract users and monetize your app through in-app purchases or advertising.

16. Creating and selling digital products

One of the best ways to make money online is creating and selling digital products like e-books, online courses, stock photos, and stickers. With a low starting capital, you can create these products yourself and sell them on platforms like Amazon and Etsy.

To create and sell digital products, identify a niche market and develop a product that addresses a specific need. For example, if you’re knowledgeable in a particular field, you can create an e-book or online course that teaches others about that topic. Once you’ve created the product, you can sell it on platforms like Amazon, Etsy, or your own website. To increase sales, market your product through social media, email marketing, and advertising.

17. Microloans

You can invest in small businesses through microloans, which are small loans given to entrepreneurs and small business owners. There are several online platforms, such as Kiva and Grameen America, that allow you to lend money to small businesses in developing countries or in the United States. These platforms allow you to browse through loan applications from small businesses and entrepreneurs and choose which projects you want to fund.

You can lend as little as $25 per loan and receive interest on your investment. Before lending, it’s important to conduct due diligence on the businesses and entrepreneurs to ensure they have a viable business plan and can repay the loan.

18. Crowdfunding

You can also invest in businesses through crowdfunding platforms, such as Kickstarter, Indiegogo, or SeedInvest. These platforms allow you to invest in startups or small businesses in exchange for equity or rewards. Before investing, it’s important to conduct due diligence on the businesses and entrepreneurs to ensure they have a viable business plan and can deliver on their promises.

How to Turn $100 Into $12,000 in a Year

If you’re looking for high-risk, high-reward investment strategies to make an extra 1000 a month, there are a few ways you can try to reach this goal. While there’s no guaranteed path to successful personal finances, here are several potential avenues to explore:

1. Day trading: Use a portion of the $100 to start day trading penny stocks and options. This is a high-risk, high-reward strategy, but with diligent research and analysis, you could generate returns that exceed the market average. Aim to grow this initial investment to $1,000 within the first 2–3 months.

2. Cryptocurrency trading: Allocate a portion of the $100 to trading cryptocurrencies like Bitcoin and Ethereum. The volatility of the crypto market presents opportunities for significant gains, but also risks significant losses—aim to grow this investment to $2,000 within the first 3–4 months. However, keep in mind the current bear market, which is not always an ideal time for these types of investments.

3. Selling on Amazon: Set aside another portion of the $100 to sourcing products from garage sales, thrift stores, or discount stores and sell them on Amazon for a profit. With proper research and pricing strategies, you could generate consistent returns from this venture. Make a goal to generate $1,000 in profits within the first six months.

4. Freelancing: To generate additional income, offer your services and skills on platforms like Upwork, Fiverr, or Freelancer. This would require little to no investment and could generate a steady stream of income. Set an hourly rate that will allow you to generate $2,000+ in freelance income over the course of the year.

5. Long-term investments: With the remaining funds, make long-term investments in stocks, mutual funds, and real estate crowdfunding platforms. Prioritize low-risk investments with strong potential for growth and aim to grow this investment to $6,000 over the course of the year.

6. Consistent monitoring and adjustment: Closely monitor all of your investments and adjust your strategies as necessary, then reinvest profits from successful ventures and cut losses from unsuccessful ventures.

Set SMART Goals for Making an Extra $1000 a Month

Setting SMART goals for making an extra $1000 a month is one of the most effective ways to achieve financial success. By following the SMART framework, you ensure your goals are:

• Specific
• Measurable
• Achievable
• Relevant
• Time-bound

This will help you stay focused, track your progress, and make adjustments along the way. Whether you choose to start side hustles, invest in stocks or real estate, or pursue a freelance career, having clear and actionable goals is essential for success.

Remember, achieving financial success is a journey, not a destination. It takes dedication, hard work, and discipline to turn your dreams into reality. However, with SMART goals in place and a willingness to take calculated risks, you can create a path to a more secure financial future. So, take the first step, set your SMART goals, and watch as you make progress toward achieving your financial aspirations.

Learn more about establishing SMART goals by reading “SMART Goals Examples to Help You Achieve More at Work” or learn how to invest $1000 once you start making extra cash.