Are you wondering how to make extra cash fast? Well, you’re in luck. This article covers ten strategies on how to turn $100 into $200.
There are countless ways to make money, but it’s hard to figure out which ones work and which don’t.
So, here are the proven ten money-making methods, including selling digital products, freelancing, affiliate marketing, and more.
I’ve tried several of these methods and found them successful, and hopefully, you have similar luck.
While I cannot guarantee that any of these methods will perform, I recommend experimenting with several strategies to see which work best for you.
Anyways, without further ado, let’s get straight into the list of how to turn $100 into $200.
Disclaimer: This article contains Amazon affiliate links. I may receive a small commission on purchases at no cost to you. As an Amazon Associate, I earn from qualifying purchases. You can read my full disclosure here.
How to Turn $100 into $200 Quickly
1. Sell digital products on Etsy
The first method on how to turn $100 into $200 is by selling digital products on Etsy.
You can sell digital products like printables, planners, logos, artwork, ebooks, wallpapers, templates, social media posts, and so much more.
To drive traffic to your Etsy store, you can promote your products on social media or sign up to Etsy Plus for advertising.
I love Etsy because they handle payments and your entire online store, so all you have to focus on is creating products and listings, and letting them control the rest.
You could invest the $100 into a Photoshop or Canva subscription and create dozens of digital products from there.
The fundamental way to maximize your earnings with Etsy is to make as many listings as possible and experiment with what products customers want to buy.
It’s also worthwhile to offer good customer support and discounts when necessary.
2. Deliver food
Another great way of how to turn $100 into $200 is by delivering food.
Food delivery services such as Grubhub, Uber Eats, Door Dash, and Postmates make it easy to make money simply by delivering food.
To get started with most food delivery services, you should be 18 years old, pass a background check, own a vehicle (car, bike, scooter), and have a smartphone.
While there are no specific wages for delivery drivers, the average worker makes around $14 an hour, according to Indeed.
Again, it’s all dependent on the time (like dinnertime) and the area you live in, plus if you get extra tips.
The initial $100 investment could be used for gas or to buy a secondhand bike.
Delivering food is an excellent flexible side hustle for those who want to make extra cash, and it’s super convenient that you can deliver food with a bicycle.
3. Resell items
Head over to a local thrift store or garage sales and look for items that seem like a steal. You can buy them cheaply and sell them on Facebook Marketplace for a neat profit.
Sometimes, all these items need are a clean, and they’ll look new again.
Secondhand items to sell on Facebook Marketplace:
- Books: Look for well-known authors or popular fiction books.
- Lego sets: If all pieces are intact, these can sell for hundreds.
- Textbooks: High school students always look for secondhand books.
- Clothing: Vintage pieces and branded clothing items can sell quickly. Also, look for shoes, sunglasses, and jewelry.
- Computer parts/Laptops: Many people buy secondhand laptops. I recently sold a 2013 MacBook Pro for $150 on FB Marketplace.
You can use the $100 investment to buy a range of products from garage or thrift stores.
4. Freelance on Fiverr
Freelancing is an excellent way to provide services and get paid for them.
As a freelancer, you can choose your pricing, work hours, and which customers you’d like to work with.
There are thousands of freelancing services to choose from, here are some of the most popular:
- Writing: Write blog posts, eBooks, SEO-friendly articles, or books.
- Virtual Assitant: Managing your clients’ emails, making phone calls, creating content, and scheduling appointments.
- Web design: Build functional websites for clients, or build specific pages.
- Data entry: Enter data into spreadsheets.
- Social media management: Create and schedule content for people/brands on social media platforms like Facebook and Instagram.
Fiverr is one of the biggest freelancing marketplaces to join, as you can display your freelancing jobs directly on the platform.
However, they do take out a 20% fee, so make sure to account for that in your final pricing.
Recommended: How to Make Money From Fiverr [Five Methods]
5. Start a blog
If you had to choose only one option on this list, I’d most definitely recommend starting a blog.
Blogs are excellent ways to make passive and active income, and you can earn money through display advertising, affiliate marketing, courses, sponsored posts, and more.
The average blogger makes around $29 for every 1000 pageviews. So if you received 100k pageviews a month, you’d earn close to $3000.
There are also many bloggers who are earning over six figures a month from blogging.
You can use the $100 initial investment for your domain name (URL), web hosting, and theme.
I recommend Hostinger as your web hosting option, as it’s super beginner-friendly and costs under $3 a month.
You’ll also receive a free domain name, free email, and a free SSL with Hostinger.
6. Affiliate marketing
One of my favorite methods of making money online is through affiliate marketing.
Affiliate marketing is the process of finding products or services you like, receiving a tracked link for the products, and promoting it to your audience. If someone clicks on the link and makes a purchase, you’ll earn a commission.
Commission rates vary from platform to platform, but they’re often between 4% to 70% of the total cost.
This means that if someone purchased a $450 product through your 8% commissioned link; you’d earn $36.
The best part about affiliate marketing is that you have zero overhead costs. You don’t need to worry about supplying or creating the products and services; you merely act as an advertiser.
It’s a lucrative way of earning money online and is entirely free to begin with.
You could join an affiliate marketing platform like Amazon Associates or Share a Sale and use the $100 to learn about affiliate marketing.
Recommended: Top 7 Affiliate Marketing Books for Success
Unlike the other options on this list, investing won’t see an immediate monetary return. Still, it can be highly profitable over a long time.
Investing is when you buy shares of a business, which technically means that you buy a piece of that company.
These shares may decrease or increase in value, depending on how well the company is going, ultimately meaning that your investment will go up or down.
If you invested $100 into the S&P 500 (average annual returns of 10.5%) and invested a further $50 monthly, in 30 years, your investment would grow into $116,000.
If you left it for another decade, the investment would grow into $302,000.
While investing is mainly a waiting game, it can be highly profitable if done correctly.
8. Walk dogs
Another excellent money-making method is by becoming a dog walker.
It isn’t a particularly challenging job, and it’s a fantastic way of making money while exercising.
According to Indeed, the average dog walkers’ pay is around $16.50 an hour. This figure changes depending on which state you live in.
This means that it would take you around 12 hours of dog walking to make $200.
The best part about this money-making strategy is building up a clients list and having a regular income.
I recommend spending around $50 on dog poop bags, treats, and toys. This is so you’re prepared for any job.
If you want a flexible job that pays well and lets you hang out with dogs, then I highly recommend becoming a dog walker in 2022.
9. Sell handmade items
If you like to create handmade items, you can sell them on different marketplaces to earn some extra cash.
Handmade items like soaps, cosmetics, jewelry, wall art, candles, and decorations sell like crazy, so if you don’t know where to begin, experiment with one of those options.
You can sell your handmade items on Etsy, Facebook Marketplace, or Amazon Handmade. Be warned that Etsy and Amazon take fees, so consider that in your final pricing.
You can use the $100 for any supplies you need and pay for advertising on any platform.
Recommended: What to Sell on Etsy in 2022 [10 Popular Products]
10. Start a YouTube channel
The final method of how to turn $100 into $200 is to start a YouTube channel.
It’s a very saturated answer, I know, but hear me out.
YouTube is one of the biggest social media platforms used by over a billion people every month. There are also 5 billion video views every day.
Starting a YouTube channel can become a lucrative business, with many YouTubers earning over seven figures a year.
The best part is that it’s completely free to start a YouTube channel, even with your smartphone.
You could use the $100 to buy lighting and camera equipment; I’ll link some of my favorites below (I started a channel a month ago.)
While there isn’t a pathway to success on YouTube, it can be found by creating high-quality videos, targeting a specific niche, answering common questions, and sometimes luck.
After you gain a following, you can monetize through advertising, affiliate marketing, sponsored videos, merch, courses, and more.
If you had a $5 RPM, you’d need to reach 40,000 views to make your $200. While it may seem impossible, it isn’t if you try your hardest and persevere.
Wrapping Up: How to Turn $100 into $200
Hopefully, this article has taught you several strategies for turning $100 into $200.
While they’re all excellent money-making methods, not every strategy will work perfectly for you. So, it’s best to experiment with different approaches until you find the one that works best.
While I may love blogging and creating YouTube videos, you may dislike it, so choose the most suitable money-making methods for yourself.
If you’re wondering the quickest way to turn $100 into $200, it’s definitely to resell items from thrift stores.
Also, you might not be able to make $200 from 100 dollars alone, and you might need to make a more significant investment upfront. These strategies are merely just a guide.
Anyways, good luck with these methods; I really hope they work!
How do you plan on turning $100 into $200?