Wealth

Turn $0 to $10,000: 5 Ways to Make it Happen

Turn $0 to $10,000: 5 Ways to Make it Happen

Could you turn $0 to $10,000 within a year? If you’re willing to put in the work, there are ways to do it.

With most $0 to $10,000 challenges you find online, participants usually squint for “free stuff” they can sell or trade. From there, they invest time and energy into “trading up” to largest stuff that can make money, or they create a merchantry strategy that helps them grow their initial mazuma into something bigger.

If I were to try to grow $0 to $10,000, I would start with proven strategies, including the easy ones everyone should be doing! Most of all, I would focus on the steps I have used to build wealth for my family.

Here are five steps scrutinizingly anyone could take to grow $0 into $500, which can turn into $5,000, $10,000, or increasingly within a year. And yes, I include plenty of examples to help you get started.

Step 1: Get Self-ruling Stock

When turning $0 into $10,000, you need to start with something of value you can get for free. Self-ruling stock promotions are an spanking-new way to do that, and some of the weightier promos come from two popular investing apps – Robinhood and Webull.

Robinhood Self-ruling Stock Promo

With Robinhood, you can get a self-ruling stock worth $3 to $225 without opening an worth and fulfilling its conditions. Just alimony in mind this promotion is only misogynist for new customers.

Also, remember that your stock will likely be worth on the lower end of the promised range. Robinhood says well-nigh 98% of the self-ruling stock they requite out is worth $3 to $10, which is what I have found from personal wits and in the screenshot from my Robinhood worth below:

Jeff Rose Robinhood Screenshot

But self-ruling is still free. You can moreover refer friends to get increasingly self-ruling stock from Robinhood (see my own example in the whilom image). You can get up to $500 in referral stock within a year, and your self-ruling stock will fall within the same unstipulated rate of $3 to $225 per share.

Webull Referral Program Screenshot

By combining these promotions, you could hands get one self-ruling stock for opening an account, then refer 20 friends and get 20 increasingly shares. Plane if the stereotype price of each stock you received were only $5, you would yaffle $105 in wealth.

Webull Self-ruling Stock Promo

With Webull, you can get two self-ruling stocks valued up to $1,850 when you unshut an worth and fund it with $100. While you might not have the $100 in mazuma right away, you can start with Robinhood and build up your $100 in seed money.

Webull Self-ruling Stock Promo Screenshot

You can moreover get a self-ruling stock worth $2.50 to $250 just for opening an worth – plane if you don’t fund it.

Even better, Webull lets you refer friends and get THREE self-ruling stocks, each worth $12 to $1,400. In reality, though, many of the stocks I have received are worth virtually $30. Here’s an example using my personal Webull account:

Jeff Rose Webull Worth Screenshot

The results: You can hands combine Robinhood and Webull promotions to earn hundreds of dollars in self-ruling stock, which you can use to uncork your journey to $10,000. And since this stock is free, why wouldn’t you?

Step 2: Retail Arbitrage

Retail arbitrage is a unconfined way to make money fast, but it can moreover be a key step in your journey to $10,000. Moreover referred to as product flipping, retail arbitrage involves ownership products at a low price and then reselling them for a profit.

There are many ways to make money with retail arbitrage, including shopping for antiques, at thrift stores, or find subconscious gems at garage sales in your area.

Jason Butler of My Money Chronicles has had success with retail arbitrage, starting most of his deals at thrift stores. He hunts for brand-name suit at undear prices, but he moreover looks for other stuff that sells well. He then resells most of the items on eBay. 

His eBay top sellers include sports jerseys, bobbleheads, coffee mugs, workbench games, vintage sweaters, and zippo VHS tapes. Butler says he has no idea why zippo VHS tapes sell so well, but he focuses on profits and doesn’t spend too much time trying to icon it out.

Of course, Butler goes out of his way to squint for sneakers, his #1 resale item. He says he buys sneakers as cheaply as he can find them, and sometimes he’ll devote some energy to cleaning them up. His best-selling brands are Jordans, Kobe Bryant’s, and Hoka One One. As a side note, Butler has an eBay course that can help you learn how to flip items for profit: 

I know for a fact that sneaker flipping works! I have bought a lot of sneakers and resold them on StockX for hundreds of dollars increasingly than I paid. 

Stock X Landing Page Screenshot

The results: Retail arbitrage is something anyone can do, and you can hands turn hundreds of dollars into thousands if you find the right items. The key is knowing what sells and finding it at a rock-bottom price.

Step 3: Start a Side Hustle

Another way you can build up $10,000 is by starting a side hustle. I’m not talking well-nigh your ordinary, run-of-the-mill part-time job, although that works too.

If you prefer a flexible schedule and own a reliable vehicle, consider picking up a side gig driving for Uber or Lyft or delivering supplies for DoorDash. You could plane unhook groceries using an app like Instacart, or you could run errands and hoke furniture with an app like TaskRabbit.

You can sell your services as a freelancer if you have a particular skill that translates to the online marketplace. Websites like Fiverr.com and Upwork let you ventilate your services to potential clients worldwide. The increasingly specialized your skill, the increasingly money you can make.

Fiverr Seller Screenshot

Here are just some of the services you can promote through Fiverr or Upwork:

  • Social media management
  • Graphic design
  • Freelance writing
  • Resume writing
  • Editing
  • Video editing
  • Voiceover work
  • Logo design

And that’s not all! There are moreover plenty of “weird” skills people pay for on Fiverr. Here’s a gal who will spell out a name in spaghetti and take a picture for $5 – that’s all she does.

Fiverr Weird Skills Screenshot

Or how well-nigh the lady who says she will tint a spell to bring your ex when for $25? 

Fiverr Bring Your Ex When Screenshot

I couldn’t make this stuff up if I tried!

While Fiverr was designed to offer small gigs for $5 each, you can tuition a lot increasingly than that – expressly if you’re experienced.

The results: The examples whilom prove that just well-nigh anyone can find something to do to make uneaten cash. The right side hustle vacated could make $10,000, or you could use it to build unbearable mazuma to invest in a larger project.

Step 4: Build a Niche Website

Once you have some money to get started, starting a niche website is a unconfined way to build passive income. Most people have heard it’s possible to earn money blogging, but towers a website that focuses exclusively on a single (and profitable) topic can moreover work.

Take my niche website, LifeInsurancebyJeff.com, as an example. My life insurance website has made $100,000 in 9 months, sometimes increasingly than that. 

That said, you can build a niche website in any niche. Just try to think of a topic you’re passionate and knowledgeable about, as well as one where it’s easy to recommend products and services. Some examples of niche websites include:

Swim University — a site that sells hot tub and pool supplies

Avocadu — a site that sells supplements to yoga fans

Nichehacks — a site well-nigh niche websites

No matter which topic you decide to swoop into, you can monetize your niche website using unite marketing, ads, sponsorships, and more. My guide on How to Make Money Blogging explains all the variegated ways you can make money with a niche site, including examples.

The results: A niche website can help you make hundreds or thousands of dollars annually. The weightier part is that many of the various income streams you can use are passive in nature. This ways you can set up the income stream once, tweak it periodically, and watch the money roll in – yes, plane while you sleep.

Step 5: Create a Undertow or Challenge

As your conviction grows with earning income, consider creating a digital product or freebie that brings in money through related sales. You could create a undertow that helps people learn a specific skill or create a rencontre that translates into income later on.

I have used all of these strategies in the past. First, I created an online undertow for financial advisors, which helps new advisors learn how to build an online presence and grow their vendee base.

I moreover have a self-ruling challenge, which is known as the Make $1K Blogging Challenge.

Make $1K Blogging Undertow Screenshot

You probably noticed that this is a free email course, but you have to dig a little deeper than that. People who sign up for the rencontre requite me their email addresses, which I use to move them into my email funnel and sell them other products.

I have a $7 add-on to the self-ruling undertow that sells like crazy! While $7 may not sound like a lot, the key here was creating this product and selling it repeatedly. And believe me, $7 can add up fast when you sell thousands of the same thing 24 hours a day.

Maybe you’re a subject matter expert or someone with a specific skill to teach. 

For example, someone I know named Tela Holcomb has a ton of variegated online courses that teach people how to make money through investing. Her popular “Trade Your 9 to 5” course aims to help you quit your regular job and wilt a profitable day trader, and she sells it for $1,800! That’s pretty sweet.

Tela Holcomb Screenshot

Then there’s Bobby Hoyt, who has a Facebook Side Hustle Course. Bobby learned to use Facebook ads to successfully market digital products and now teaches others to profit from his techniques in his course. 

Facebook Side Hustle Course

Bobby teaches you not only to use Facebook ads but moreover shows you how to turn your Facebook ad knowledge into a profitable side business. It’s an opportunity to learn a profitable skill, then use it to earn plane increasingly money by offering your services to others. 

The results: While creating a undertow or an online rencontre is much increasingly advanced; scrutinizingly everyone has something they can teach or share. And with the proper online training, you can hands make thousands of dollars per month – or plane thousands of dollars per day.

Turn $0 to $10,000: The Bottom Line

By pursuit the five money-making strategies I’ve shared, and a few of your own, it’s possible to turn $0 to $10,000 within one year. The weightier part is that you don’t have to wait, you can get started today. But remember – anything worth doing will take some nonflexible work, and you’ll likely goof a few times withal the way.

But if you alimony going, you’ll sooner find a few variegated ways to earn money that can grow over time. You might plane spark an idea that leads to a home-based business, where you can sooner rent people to do the work for you. 

Once you have the hang of it, there’s scrutinizingly no limit to how much you can earn. 

How do I know? I’m living proof.

The post Turn $0 to $10,000: 5 Ways to Make it Happen appeared first on Good Financial Cents®.

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