There is a saying that money loves money. The saying quite simply means that if you have money it is easier to make more money. With that in mind, we have given you some tips below on how to turn $100 into much more. Read on to find out:
High Yield Investment
While you could put your $100 in a standard bank account and see little to no return you could also put it in a high yield account. While it comes with a higher risk, it comes with a potentially greater reward too. The key to any high yield investment is not to focus on the short term fluctuations, focus on the long term gains. Put your money in a high yield account and leave it for a long period of time, it will likely return strong growth.
See a financial planner
Get your finances in order by paying to see a financial planner (or try a free no pay consultation). They will help you set up your budgeting process to make it bulletproof for the future. A little expense today could set you on the right track for life.
Retirement plans
Increase your nest egg payments so that when you hit retirement there is much more to enjoy. While it may mean less flashy nights out on the town now it will come back to give you beautiful relaxing days in years to come.
The truth is that if you have some money it is always easier to make more. You are open to large investments and higher returns. You are also open to wasting that money on terrible schemes and bad ideas. Ensure you are not falling into pyramid traps or bad ideas by checking your ideas out with friends or financial advisors and remember if it appears too good to be true, it probably is.
