Hey guys
How can I earn more money with a $5000? Setup a small business? What can I do?
2006-10-05 05:27:56 · 12 answers · asked by Shan S 1 in Business & Finance ➔ Investing
Invest it...having a small business is not guaranteed unless you have a plan. Just saying, "I'm going to start a business", is harder than it sounds unless you are a drug dealer and have plenty of contacts.
Your best way to make you money grow, is to get a job (so you don't spend what you have) and invest the money once you have a solid plan. Once you get a plan and decide the best way to start the business, have at it!!!
Or, you can try your luck on eBay...start going to flea markets and buying trash you think people would like...then turn it around and sell it on eBay. I know people who do that and am always amazed at some of the trash people buy and how much money those people can make.
2006-10-05 05:33:09 · answer #1 · answered by Billy 3 · 0⤊ 0⤋
Fastest way is be a "loan shark" but you must have "muscle" with underground connection. However, you'll probably get caught in no time. Honestly, 5k is too small an amount to start any business. Maybe you can try small trading in the various stock/options in the exchange.
Good Luck.
2006-10-05 05:40:57 · answer #2 · answered by Roti-Prata 3 · 0⤊ 0⤋
HUM...if she use that $5K to invest in the life policy..then her $$$ will be gone for the time being and have to wait till 10 years later..though the return might be more...
I think that's not a very good idea..because your $5K gone..then at the time being you done have $$$ to do others things to roll n make more $$$...
You can try something small..maybe go print sme t-shirts and put at other people's store to sell..i saw it at channel U TV program..it's a tv program about settin up business..do it slowly..step by step lor..don't rush into it.. :)
2006-10-05 06:05:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can invest the money in the stock market or in mutual funds. What I do is invest my money into mutual funds because I don't have the time to research the stock market. You can have someone to make you money through research and expert analysis. Also you can buy stocks on your own on a site like sharebuilder or td waterhouse, etc.
2006-10-05 05:30:57 · answer #4 · answered by steve6385 1 · 0⤊ 0⤋
Hi Steve6385..
your idea sounds good..how much can or did you earn from all the mutual funds or stock shares you were talking about? is it safe or risky? as i've always heard alot of people say high risk high return..low risk low return..so is the ideas that you have recommend safe to invest in?
2006-10-05 05:43:00 · answer #5 · answered by need help 1 · 0⤊ 0⤋
The easiest way is to purchase a whole life policy.It takes about 10 years for it to mature,but is worth its face value at the end of that time.You can buy them fairly cheap,and double,or triple your money in that time frame.
2006-10-05 05:57:16 · answer #6 · answered by gibbyguys 4 · 0⤊ 0⤋
Get a CD or high yield savings account (ING Direct is over 5%). Safe, reliable, and risk free. Doesn't sound like you're ready for anything more advanced.
2006-10-05 06:21:34 · answer #7 · answered by curious1223 3 · 0⤊ 0⤋
Ebay. Register yourself as a business and get a tax ID so you can make wholesale purchases. Buy stuff cheap and sell it online.
2006-10-05 05:38:10 · answer #8 · answered by Frankie P 4 · 0⤊ 0⤋
You could always be a silent partner in a business.
2006-10-05 05:29:45 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Open a Music shop.
Slowly add on other things whatever people need daily.
2006-10-05 05:33:22 · answer #10 · answered by SKG R 6 · 0⤊ 0⤋