Are you tired of watching your money sit idly in the bank, earning next to nothing? Are you ready to take control of your finances and start making your money work for you?
If so, you’re in the right place. In this article, we’ll share 30 of the best ways to make money with $5,000. We’ll cover a wide range of options, from low-risk investments to high-growth businesses. So whether you’re a beginner investor or a seasoned pro, you’re sure to find something that fits your needs.
Before we dive into the specific investment options, let’s take a quick look at some of the key things to keep in mind when investing your money:
- Set your financial goals. What do you want to achieve with your investment? Are you saving for retirement, a down payment on a house, or something else? Once you know your goals, you can start to narrow down your investment options.
- Do your research. Before you invest in anything, it’s important to do your research and understand the risks involved. There are a lot of different investment options available, and not all of them are right for everyone. Make sure you understand what you’re investing in before you commit any money.
- Diversify your investments. Don’t put all of your eggs in one basket. Diversifying your investments will help to reduce your risk and increase your chances of success. There are a lot of different ways to diversify, so talk to a financial advisor to find the right strategy for you.
- Rebalance your portfolio regularly. As your investments grow, it’s important to rebalance your portfolio to make sure that your asset allocation is still in line with your financial goals. Rebalancing will help to keep your portfolio on track and reduce your risk.
Now that we’ve covered the basics, let’s take a look at 30 of the best ways to make money with $5,000:
1. High-yield savings account
A high-yield savings account is a great way to earn interest on your money without taking on any risk. These accounts typically offer interest rates that are much higher than traditional savings accounts, so you can earn a significant amount of money over time.
Average return: 0.50% – 1.00% per year
2. Certificates of deposit (CDs)
CDs are another low-risk investment option that can help you earn a higher interest rate than a savings account. CDs are time deposits, which means that you agree to leave your money in the account for a specific period of time. In exchange for your commitment, you’ll earn a higher interest rate.
Average return: 0.50% – 2.00% per year
3. Money market account
A money market account is a hybrid investment that combines the features of a savings account and a checking account. These accounts typically offer higher interest rates than savings accounts, and they also allow you to write checks and make debit card purchases.
Average return: 0.25% – 0.50% per year
4. Peer-to-peer lending
Peer-to-peer lending is a way to lend money to other people directly, without going through a bank. This can be a great way to earn a higher interest rate than you would from a traditional savings account or CD. However, it’s important to remember that peer-to-peer lending is not without risk.
Average return: 5% – 10% per year
5. Real estate crowdfunding
Real estate crowdfunding is a way to invest in real estate without having to buy a property yourself. Through real estate crowdfunding platforms, you can invest in a variety of different real estate projects, such as apartments, houses, and commercial buildings.
Average return: 6% – 12% per year
6. Invest in stocks
Investing in stocks is one of the most common ways to make money. When you buy a stock, you’re buying a small piece of a company. If the company does well, the value of your stock will increase. Of course, there is also the risk that the value of your stock could decrease.
Average return: 7% – 10% per year
7. Invest in bonds
Bonds are another type of investment that can help you earn a higher return than a savings account. When you buy a bond, you’re essentially lending money to a company or government. In return, you’ll receive interest payments over the life of the bond.
Average return: 2% – 5% per year
8. Invest in mutual funds
Mutual funds are a type of investment that allows you to diversify your investments into a variety of stocks or bonds. This can help to reduce your risk and increase your chances of success.
Average return: 5% – 10% per year
9. Invest in exchange-traded funds (ETFs)
ETFs are similar to mutual funds, but they trade on exchanges like stocks. This makes them more liquid than mutual funds, and it also allows you to buy and sell them throughout the day.
Average return: 5% – 10% per year
10. Invest in options
Options are a type of derivative that gives you the right, but not the obligation, to buy or sell an underlying asset at a specific price on a specific date. Options can be a complex investment, but they can also be a very profitable one.
Average return: 10% – 20% per year
11. Invest in futures
Futures are another type of derivative that gives you the right to buy or sell an underlying asset at a specific price on a specific date. Futures are typically used by large investors to hedge their risk, but they can also be a profitable investment for individual investors.
Average return: 10% – 20% per year
12. Invest in commodities
Commodities are raw materials, such as oil, gas, and gold. Investing in commodities can be a good way to diversify your portfolio and protect yourself against inflation.
Average return: 5% – 10% per year
13. Invest in currencies
Currencies are the national currencies of different countries. Investing in currencies can be a good way to diversify your portfolio and protect yourself against currency fluctuations.
Average return: 3% – 5% per year
14. Invest in cryptocurrencies
Cryptocurrencies are digital currencies, such as Bitcoin and Ethereum. Cryptocurrencies are a relatively new investment, but they have the potential to be very profitable. However, it’s important to remember that cryptocurrencies are also very volatile, so you should only invest what you can afford to lose.
Average return: 10% – 20% per year
15. Start a blog
Starting a blog can be a great way to share your knowledge and experience with others. You can monetize your blog through advertising, affiliate marketing, or selling your own products and services.
Average income: $1,000 – $10,000 per month
16. Start a YouTube channel
Starting a YouTube channel is another great way to share your knowledge and experience with others. You can monetize your YouTube channel through advertising, affiliate marketing, or selling your own products and services.
Average income: $1,000 – $10,000 per month
17. Start an online store
Starting an online store can be a great way to sell products or services to people all over the world. You can use platforms like Shopify or WooCommerce to create your own online store.
Average income: $1,000 – $10,000 per month
18. Start a freelance business
Freelancing is a great way to earn money on your own terms. You can offer your services on platforms like Upwork or Fiverr.
Average income: $1,000 – $10,000 per month
19. Start a consulting business
Consulting is a great way to share your knowledge and expertise with others. You can start your own consulting business by offering your services to businesses or individuals.
Average income: $5,000 – $20,000 per month
20. Become a real estate agent
Real estate agents help people buy and sell properties. It can be a very lucrative career, but it can also be very challenging.
Average income: $50,000 – $100,00
