Top 14 Ways To Turn Money Into More Money

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Everyone should be investing in something. After all, investing gives you a way to save over time while your money works to create a more financially stable future for you. With prices rising, it’s no surprise you want to learn how to turn money into more money. The good news is that there are plenty of ways to grow your funds.

How To Make Money From Money: 14 Strategies To Consider

Before you start investing, you must have realistic expectations. Investing is a long-term process and the slow and steady approach typically wins the race.

Nonetheless, if you’re serious about learning how to make money from money, there are some proven ways to do so. You just need to be willing to take the long-term approach and roll with the punches as the market dishes them out. 

Here’s a look at 14 ways to turn money into more money:

  1. Buy-and-hold investing
  2. Contrarian investing
  3. Value investing
  4. High-risk investing
  5. 401(k) contribution matches
  6. Reduce high-interest debt
  7. Invest in a side hustle
  8. Invest in your skills
  9. Resell products for more money
  10. Peer-to-peer lending
  11. Invest in real estate
  12. Open a certificate of deposit
  13. Buy an established business
  14. Open a high-yield savings account

1. Buy-and-Hold Investing

Buy-and-hold investing is the classic, tried and true way to build wealth over time. The concept is relatively simple. Quality companies generally grow over time. If you buy stocks of these companies and hold them for a long time, you can expect your investment portfolio to grow. 

Buy-and-hold investing is the most passive form of investing because when you buy stocks, you commit to holding them for the long haul. You’re not interested in the day-to-day, week-to-week or even month-to-month movements of the stock. You know you invested in a quality company and you’re willing to ride out the storm to make it to the figurative promised land. 

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The concept makes sense too. After all, if you weed out the noise of short-term highs and lows, the average annualized return of the stock market over the long term is about 10%. 

2. Contrarian Investing

Warren Buffet once advised investors to be “fearful when others are greedy and greedy when others are fearful.” That quote is the core concept of contrarian investing. As a contrarian investor, you go against the prevailing market trends in hopes of buying stocks as low and selling them as high as possible. 

During bear markets, most investors feel fear, while the contrarian investor sees an opportunity. With the market so fearful, the contrarian investor can buy shares of companies at steep discounts. On the other hand, contrarian investors tend to sell when the market turns overwhelmingly greedy. This tends to be when you can get the highest prices for your shares.

Although contrarian investing is a bit more work than buy-and-hold investing, it’s a proven way to turn money into more money in the stock market.  

3. Value Investing

Value investing is similar to contrarian investing with a key difference. That difference is the investors look for undervalued opportunities regardless of the state of the market, focusing more on valuation metrics than overall market trends.

As a value investor, you’ll use a range of valuation metrics to determine the fair market price of assets. When you find a stock or other asset trading below what you believe to be the fair market price, you buy it under the assumption that the market will catch up to the discount eventually. 

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Some of the most common metrics you’ll use as a value investor include:

  • P/E Ratio. The P/E ratio, or price-to-earnings ratio, compares the stock price to the annual earnings of the company. For example, if the company earns $1 per share per year and costs $10 per share, its price-to-earnings ratio is 10. The lower the P/E ratio, the better the discount. 
  • P/S Ratio. The P/S ratio, or price-to-sales ratio, compares the stock’s share price to the company’s annual revenue. As is the case with the P/E ratio, the lower the P/S ratio, the better. The metric is best for evaluating companies that haven’t yet produced earnings.
  • P/B Ratio. The P/B ratio, or price-to-book value ratio, compares the price of the stock to the value it holds on its books. If the book value of the company is $120 million and its market cap is $12 million, it has a P/B ratio of 10.  

As the market begins to price in the true value of the investment, you benefit from it growing at a faster pace than the overall market, though this could take some time to perfect.  

4. High-Risk Investing

If you’re a thrill-seeker and you’re not willing to take the slow-and-steady approach, there’s another way to turn your money into more money — high-risk, speculative investing. Speculation is the process of buying and selling assets and derivatives based on technical analysis. When the technical data suggests the asset will climb, you buy it. When the data suggests it will fall, you sell it. 

Speculative investors typically focus on high-risk assets like penny stocks, options and other derivatives. Moreover, this type of investing comes with a significant risk of loss, so it’s best for the well-seasoned market participant and not typically a strong option for beginners. 

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5. 401(k) Contribution Matches

If you’re looking for the fastest way to turn money into more money, all you need to do is take advantage of 401(k) contribution matches. This is when your employer matches the contributions you make to your retirement, effectively doubling your money every time you contribute.

Most employers impose limits on these matches. For example, your employer may match your contributions up to 5% of your income. Take full advantage of these limits to double as much of your money as you can.  

6. Reduce High-Interest Debt

High-interest debt acts like a drain on your financial situation. The interest charges you accrue work against you as you push toward a brighter financial future. If you want to improve your financial situation, getting rid of high-interest debt is a worthwhile priority.

Paying off high-interest debt won’t lead to more money in your bank account immediately. But once you eliminate this draining monthly payment, you can redirect those newfound funds into a direction that could grow those funds. For example, you could use the funds to build an investment portfolio or work on a new side hustle.

7. Invest in a Side Hustle

The right side hustle can be a game-changer for your financial future. But getting a side hustle off the ground often requires time and money. If you have funds available to invest, a strategic investment into your side hustle could supercharge its growth.

Some potential side hustle opportunities include building your own website, growing a social media following to monetize, selling crafts at your local farmer’s market or sprucing up your spare room to rent on Airbnb.

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8. Invest In Your Skills

When it comes to turning money into more money, it’s easy to overlook one of your biggest opportunities. That opportunity is to invest in yourself for an increased earning potential. Here are some ways to build your earning potential:

  • Learn new skills: The economy is constantly changing, which means that the skills with the highest demand fluctuate over time. If you take the time to learn these in-demand skills, you could command a significantly higher salary. Many skills require an investment of time and money to learn. For example, learning tech-related skills or copywriting could help you grow your income.
  • Improve your financial literacy: If you manage your money efficiently, your financial situation could dramatically improve. But it’s difficult to manage your funds efficiently without the appropriate financial knowledge. Invest in your own financial education. You can learn in countless ways but buying a book or two that covers the topics you want to learn more about is a good place to start.

9. Resell Products for More Money

If you have a knack for finding a good deal, then you could use this skill to turn money into more money. The concept of reselling for a profit is simple. You find an item with a price that’s under market value. Then you turn around to sell it for the market value.

The nice thing about this opportunity is that you can start small. For example, you could buy a vintage record for $1 and sell it for $10. As you are getting your feet wet, it’s usually a good idea to keep things small. But as you gain experience, you can boost the volume you choose to invest.

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Some places to consider selling your finds include eBay, Facebook Marketplace and Etsy.

10. Peer-to-Peer Lending

Traditional lenders earn money by charging borrowers interest on their loan amounts. As the borrower repays the loan, with interest, the lender earns a predetermined profit. As an individual, you can engage in peer-to-peer lending to earn profits from a loan that a borrower is repaying.

For example, you could invest in loans through Prosper to put your funds to work. The catch is that peer-to-peer lending comes with some level of risk. After all, it’s possible that the borrower will default on the loans. But peer-to-peer lending does offer an opportunity to earn passive income each month, which means you’ll be turning your money into more money.

11. Invest In Real Estate

Investing in real estate is a relatively common way to build wealth. In the world of real estate, different investors choose different strategies to turn their money into more money.

Some more traditional strategies include flipping properties for profit and building a rental property portfolio. But if you are looking for a less traditional way to grow your money through real estate, a real estate investment trust (REIT) might be the right opportunity.

Another option is crowdfunded real estate investments. For example, Fundrise offers investors an opportunity to get into real estate with as little as $10. When you make an investment, Fundrise pools the funds with other investor funds to purchase real estate. Although real estate generally requires a long-term time horizon, the potential to make money from your money is there.

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12. Open a Certificate of Deposit

If you are looking for a relatively low-risk way to grow your funds, a certificate of deposit is one option to consider. The basics of a CD involve tucking away funds into this deposit account. You agree to leave the funds untouched for a set period of time. In exchange, the financial institution will reward you with a predetermined interest rate.

In general, a CD offers lower potential returns than some other investment types. But CDs offer the security of a guaranteed interest rate to grow your funds over the length of the CD term. If you decide to open a CD to grow your funds, consider exploring your options to tap into the best available interest rates.

13. Buy an Established Business

An established business has already worked out the operational hiccups that could leave you stuck. If you choose to purchase an established business, you can use this well-oiled machine to generate more money for you. But the catch is that this kind of investment might require ongoing work on your part to maintain the long-term profitability of the business.

For example, you could purchase an operational laundromat to start turning your money into more money without the hassle of building out a laundromat from scratch.

14. Open a High-Yield Savings Account

A high-yield savings account offers an opportunity to grow your funds without giving up access to the account. Many competitive savings accounts offer APYs above the 5% mark. That presents a worthwhile way to turn your money into more money. Of course, the downside is that interest rates fluctuate, which means the amount of interest you earn on your savings may dip at some point.

Explore the top high-yield savings account options today.

Final Take

It’s clear there is no shortage of opportunities to turn your money into more money. Although it may require a bit of creativity on your part, the right strategy for growing your money is out there. Take action to build your wealth today.


Here are the answers to some of the most frequently asked questions about turning money into more money.
  • How can I turn $1,000 into more money?
    • You can turn $1,000 into more money by stashing it in a high-yield savings account, investing it in the stock market and opening a certificate of deposit.
  • How can you turn $1,000 into $10,000?
    • A few ways to turn $1,000 into $10,000 include starting a side hustle, investing in real estate, investing in your own education and investing in the stock market. In general, a longer time horizon makes it easier to grow your funds.
  • How can I double my money without risk?
    • If your company offers matching 401(k) contributions, that's one way to double your money immediately. But if you are looking for a low-risk option, consider a high-yield savings account or CD. Lower risk usually translates into lower returns, which means it will take a significant amount of time to double your money.
  • How long will it take $1,000 to double at 6% interest?
    • If you invest your funds in a vehicle earning 6% annual interest, it will take 12 years for your money to double. A higher interest rate will lead to a faster doubling time. A lower interest rate will lead to a slower doubling time.
  • What is the easiest way to double your money?
    • The easiest way to double your money is to take advantage of 401(k) contribution match benefits offered by your employer. When you do, your employer doubles the amount of money you invest in your retirement, up to a certain limit.
  • How can I double $1,000?
    • You can double $1,000 or any other amount of money with time in the market by using any of the methods mentioned above. However, the key is patience. Investing is a long-term process, and it will likely take years to double your money.
  • How can I double my money in one day?
    • The best way to double your money in one day is to take advantage of 401(k) contribution matches from your employer. That's because your employer matches your contributions on the same day you make them.

Sarah Sharkey contributed to the reporting for this article.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.


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