Everybody wants to earn quick bucks, right? But do you know there are ways to make twice as much as your current cash within 24 hours? Read on to learn how to double your money in a day.
When inflation hits, you would want to find a more effective investment strategy. Your paycheck may not be enough, so you would want to have more investment options and double your money faster. But how can you do it?
It largely depends on your risk tolerance and hustle efforts.
Doubling your capital is not hard to achieve. With the right investments or side hustles, you can put your money to work safely and legitimately to achieve your short-term and long-term financial goals.
This article will explore the best ways to double your money in a day, focusing on smart investments and other lucrative money-making ventures. Let’s begin and make your money work twice as much for you!
How To Double Your Money in a Day: 20 Best Ways
Cryptocurrency provides an opportunity to earn high investment returns without investing big amounts. However, this technique of doubling money is only advised to people who fall under the investor category of “high-risk takers.”
Sudden price fluctuation in these currencies makes them riskier but highly profitable at the same time. Bitcoin, one of the largest cryptocurrencies, was trading at $100 in 2013. It is now traded at $20,000, which shows how profitable the crypto market can be.
However, Bitcoin was trading at $68,000 at some point, so this strategy isn’t without risk.
If you want to try crypto investing, a good platform is Binance, the world’s largest cryptocurrency exchange that offers several ways to get free cryptocurrencies. You can also check out these other reputable platforms with similar sign-up bonuses and start investing now.
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2. Day Trading
Day trading allows you to buy and sell financial instruments within the daytime to earn a quick profit. The instruments can be stocks, currencies, etc.
Day trading can be pretty difficult, as it requires having good knowledge about the price changes in the market. To reduce the risk, we advise you to learn about the market of the security you are investing in. Moreover, invest only the amount that wouldn’t break you financially.
Want to reduce the risk when you’re just starting? Try one of these platforms that gives you free stocks when you sign up with them. That gives you an advantage when you start.
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3. Starting a Side Hustle
Starting a side hustle is the best way to double your money. In some cases, it wouldn’t ask for an initial investment at all. Participation in surveys is the best side hustle to pay you for free. They usually ask for some information and opinions about products and services.
In return, the app offers you money that can be redeemed through gift codes or directly transferred to your PayPal account.
Here are a few of the best survey sites in the market:
- Survey Junkie. By participating in online surveys or sharing your data, Survey Junkie will pay you with gift cards or Paypal cash. Read our full Survey Junkie review for more details.
- InboxDollars. Earn extra cash with InboxDollars while doing online microtasks, such as taking surveys, playing online games, watching videos, or redeeming coupons. There is a $5 sign-up bonus waiting for you, too. Here’s our complete InboxDollars review to get you started.
- Swagbucks. Joining Swagbucks is not only free: a $5 bonus even awaits you when you sign up today. Learn more Swagbucks hacks to maximize your earnings on the platform. With this app, you earn points that are convertible to gift cards or cash by completing surveys, browsing the web, or shopping online. For more information, check out our full Swagbucks review.
4. Selling Courses Online
Selling courses online is a good method of doubling your money.
Spreading knowledge is free, and website creation is the only cost you must bear. Check out Bluehost, an excellent service to start your self-hosted blog for only $4.95 monthly with a free domain name.
You can also try Teachable for a simple and easy way to create your online course.
If you want to sell your courses to some third-party website, you can use course-sharing websites like Udemy. You can sell your courses and eBooks on this platform for quick profits.
If the website doesn’t work for you, there are other options, such as Sellfy and Shopify, where you can start your own store.
5. Peer-to-Peer Lending
Peer-to-Peer lending (P2P) is done on an agreement. The agreement includes the interest rate and time of return.
Scams on the website aren’t common, so check the rating before you lend money to someone. Using this method, you won’t have double cash in hand within a day, but your money will surely double within a day.
Not sure where to start? Here are some legit P2P platforms to check out:
- Fundrise – if you’re in the U.S., Fundrise is the place to start. You only need $10 to set up your portfolio. Fundrise lets you invest in private commercial and residential properties to build your passive income portfolio.
- Mintos – When you sign up using my link, you get a bonus of 0.5% of your invested amount in the first 90 days! Learn more from this full Mintos Review.
- EstateGuru – A real estate peer-to-peer lending. EstateGuru lets you earn 11%+ per year passively. Check out this EstateGuru review for more information.
6. Flipping Physical Products
Buying and selling items for profit seems simple, but most people need help knowing where to start. In simple words, flipping stuff means making money from a short-term holding.
The best way to double your money by using this method is to search for cheap items at yard sales, auctions, flea markets, or thrift stores and sell them at online marketplaces. For handcrafted items, such as house decors, hand-painted t-shirts, or greeting cards, that you want to sell, try Etsy.
Are you interested in making money as a flipper? I have a great tip for you here! One of the best in the industry is Rob, who makes 6 figures flipping items for years and years. He offers FREE training to teach you everything about creating a profitable reselling business.
This venture is perfect for you if:
- You want to earn an extra $500, $1000, or even $3000 monthly.
- You want to pay off your debt or save for your dream holiday.
- Plus, you can work from home and fully control your own hours.
- You want to make a profit starting TODAY.
This FREE 75-minute workshop by the Flea Market Flipper teaches you how to make quick profits from flipping in under 14 days. Take massive action and get started today!
7. Become a Retail Arbitrage Seller
Retail arbitrage sellers usually buy and sell merchandise online. Most arbitrage sellers buy their products from markets such as Walmart or Kohl’s for a very low price and resell them on Amazon or other marketplaces for profit.
The items that sell the most on these websites include books, electronics, toys, video games, home goods, and accessories.
Some of the best platforms to start selling your merchandise to double your money are:
- Facebook Marketplace
8. Flipping Websites
Flipping websites and their domains is a great way to earn quick cash. The job doesn’t have a very good reputation in the market due to its reliability, but it is one of the fastest ways of doubling your money.
Check out Flippa, where you can buy websites for reselling.
To properly flip a website, you need to follow these 5 simple steps:
- Find a profitable website
- Buy the website you want to flip
- Transfer the ownership
- Make improvements to the website
- Sell for profit
9. Flipping NFTs
As crypto investing is losing its reliability in the market, most investors are now switching to non-fungible tokens (NFTs). They are red-hot digital items currently being invested in by investors. Most people make money by repeatedly buying and selling NFTs.
One benefit of investing in NFTs is that the NFT you own can’t be duplicated. For that reason, many people repurchase NFTs, which they sell by mistake to someone else, opening doors for smart investors to make profits.
Just be sure to know how NFTs work and what the risks are before going all in.
10. Renting Out Your Stuff for Money
Renting out your stuff is the easiest way of doubling your money, as it doesn’t require you to have any skill set or invest time. Just list your item on an online website and earn from it.
Most people rent out their spare room by listing it on Airbnb.
11. Investing With Your 401K Matching Plan
Retirement accounts are a great investment, growing in value over time, even doubling your money occasionally.
Employers usually offer a 401K matching plan: they add to your retirement fund by matching a certain percentage of your contribution to their 401(k) plan. The amount can range from 25% up to 100%.
In 2023, employees’ maximum contribution to their 401k is from $20,500 to $27,000 annually. With a 401K matching plan, you can add your own $20,500 contribution, for example, to your employer’s 100% matching contribution ($20,500). You can then use the full doubled amount of $41,000 to expand your 401K investment portfolio.
12. Investing in Property
Real estate investing can help you double, or even triple, your initial investment. However, the methods require a good amount of savings. The profit margins in real estate selling can be big, but it does require some time.
If you’re looking for the easiest way to get started, plenty of platforms let you invest in real estate from $10. Here is what platform you can use to get started for free:
- Best US real estate crowdfunding platform: CrowdStreet
- Best European crowdfunding platform: EstateGuru
- Best crowdfunding real estate for beginners: Fundrise
- Best REIT option: DiversyFund
13. Selling Food and Drink Services at Events
Selling drinks and food at events is profitable but requires some physical effort. It’s the perfect job for teens or anyone willing to work for some money.
If you are selling the items yourself, set up a nice stall to attract as many customers as possible. Go to a local place where there are plenty of people, like a baseball game or a concert.
For example, you could buy a couple of 24-packs of Coca-Cola at Costco for around $12. Make sure to get some ice and a cooler to provide quality service. Go to that game and sell your drinks for $2 per can. That will make you $1.5 profit per can, which can be very profitable and more than double your money in a day.
Dropshipping allows you to act as a bridge between the manufacturer and the end user, with your website or eCommerce store playing the key role. With excellent timing, the law of supply and demand can work in your favor to profit 2-fold in a short time. You can list an in-demand item to sell for a profit on a marketplace when you know the same item is selling on another online store at a cheaper price.
For instance, at Walmart’s daily “flash picks” sale, you spotted an air fryer that is $100 cheaper than in stores. You then list the same item at full price on eBay, which will notify you when it sells. Afterward, you use the customer’s information to buy (and ship) the air fryer from Walmart.
Dropshipping allows you to double your money easily without needing costly inventories.
15. Investing in Arts
People who love art spend a lot of money on them. It is an opportunity for someone who wants to double their money in a day.
Invest in art and sell it to have the opportunity to make a return on investment.
16. Investing in small businesses
Investing in small businesses is a great way to increase your overall income. If you become a partner in a small business, the shared profits can even double your money within a single day.
Although it’s highly unlikely, it is possible if you identify the right businesses to invest in. Moreover, you can also invest in small businesses using online platforms such as Mainvest. These allow you to invest as little as $100 in your pocket.
17. Affiliate marketing
Affiliate marketing is a great way to double your money within no time. However, it does require you to have a website that can generate a lot of traffic. People will click on your website will be redirected to someone’s product or service.
For the traffic you generate for people, you can charge a commission.
18. Create a membership platform account
If you have an impressive following on social media, creating a membership platform account can be the most convenient method of doubling your money. On these platforms, you can share your creativity by offering perks in return for a subscription.
19. Open an excessive yield saving account.
A high-yield saving account may take more than a day to double your money, but it has a high chance of making guaranteed quick profits.
High-yield saving accounts usually generate more interest than a traditional saving account; however, the extra money you make depends on the bank policy and market conditions.
20. Cleaning jobs (attics, cellars, garages, etc.)
Cleaning jobs require very low investment, allowing you to double it within a day. You can double your money almost instantly if you invest more time gathering clients and working on multiple houses daily.
All you need is some safety gear, such as masks, sunglasses, and gloves. A cleaning truck can be easily rented.
All the expenses add up to around $500 or a bit more, but you can make around $1000 or even more within a day.
Frequently Asked Questions (FAQs) – How to Double Your Money in a Day
How Can I Double My Money Fast?
The best way to double your money is to flip stuff and sell them for profit, which doesn’t cost a lot and produces incredible returns on investment.
You can flip many things and sell them online, such as:
- Physical Products
How Do You Double $1000?
The simplest way to double $1000 is to buy some collectibles online and sell them for a profit. Or, you can invest it in crypto for quick profits.
Keep in mind that investing in crypto can be highly risky.
What Is the Rule of Doubling Money?
The rule of doubling money is called the rule of 72. It estimates the years required to double the money on a certain rate of return.
Divide 72 by the annual return rate to calculate the years your investment would take to double your money.
How Fast Can You Double Money?
The total rate of return determines the time required to double the initial investment. Divide 72 by the annual return rate to calculate the years your investment would take to double your money.
Conclusion – How to Double Your Money in a Day
While doubling your money within 24 hours is not a walk in the park, it is very doable.
With the various investment and business options listed above, learn as much as possible about your chosen venture and select one (or more!) that best suits your risk tolerance, skills, and personal circumstances.
May this list set you faster on your way toward building wealth. Now, go double that money!
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