Do you have some extra money? If yes, you may want to invest it in something that will help make you money. It might sound like a complete paradox, but there are so many things to buy to make money, and it’s a practical and profitable move. Generally speaking, you need to spend money to make money. That especially holds true with real hard assets.
In this article, we’ve listed and discussed some things to buy, some that appreciate quickly, and others that need patience.
They’re spread all over the spectrum – from buying stuff worth thousands and thousands to things that cost under 100 bucks.
What To Buy That Makes Money
Here’s a list of a few things that you can choose from, ranging from expensive to pretty affordable:
1. Buy a House
Now, if you have quite a bit of extra money that you think you should be spending on something profitable, then buy a house.
There are a lot of things you can do to make money after buying a house. For instance, you can fix it up, construct it in a way that adds value to the property, and then sell it for a profit. However, make sure you know the area and its price history. Do your research!
You can also rent out the house. As the rent increases yearly, you can expect good returns. You can even buy a multifamily building, rent it out, and sell out units later as the building appreciates.
So which way you choose depends on your finances and what you think you can manage easily.
Wait, don't have enough money to buy a house? Well, there is still a perfect way to make money from real estate.
Try some of the best real estate crowdfunding platforms we have listed.
2. Buy Stocks
A lot of millionaires are millionaires today because they made smart stock investments. Holding on to your stocks for a long time is the key so that when times are good, you get high returns and don’t miss the chance.
Before you go ahead and buy stocks, though, make sure you have done your research about the company.
For instance, the company’s earnings, sales, and equity should be higher than the year before, and the debts should be equal or lesser.
Learn about the stock market, research it, and invest in high-return and low-risk stocks or whatever seems suitable. With some logic and smart moves, you can get dividends and a good income with stock investments.
3. Buy Art
This might sound like an unusual investment, but the rarer a piece of art, the more it appreciates as time passes. Hence, it may be a good idea to invest in artwork today. (Imagine, what wouldn’t Bob Ross’s fans pay to own one of his paintings today)
And guess what? There is a huge market for art, as the market expanded to USD 67 billion in 2018.
Now, you may not be able to buy a rare piece of art by Van Gogh unless you're super-rich, but if you have good knowledge about art, you may want to invest in current artists. Look for potential artists you think will become big in the upcoming years. If you buy their artwork right now, you’ll be able to sell it to make a lot of money later on.
4. Buy a Car and Rent it Out
One thing you can buy to make money is a car. How? Well, rent it out.
Many companies, like Turo in the US and Canada, help you make money with your car. Just register yourself, pick the days you want to rent out your car, and you’ll find someone who wants it.
This is a good way to earn money and cover insurance costs for your car while you don’t use it and also earn some extra money.
5. Invest In Gold
Gold is considered a safe medium of wealth. During economic crises and the collapse of currencies, people who own gold have a protected form of wealth, which is gold, and thrive off of it.
Here is a quick fact. The price of gold was around USD 1300/oz in June 2019, which increased to USD 1570 in February 2020. This is more than a 20% profit in just eight months.
When returns on bonds, real estate, and equity fall, gold prices go up. This is when you can profit from the gold you bought a few years ago. You can either buy the metal itself, invest in gold mines, or buy gold bullions – there are many ways to invest in gold!
6. Purchase a Good Camera
Got a couple of thousand dollars to spend? Go ahead and get yourself a camera.
If you have a knack for photography, you can sell your photos, which are one of the easy things to sell to make money. One way to do this is to sell your photos through stock images, and you can earn good money easily if you have a large enough portfolio.
Another way to do this is to create a blog on Instagram. Here, you can get known for your work and get the appreciation you deserve. From here, you may be contacted by newspaper agencies or other companies who want to buy these images from you. You can even contact them yourself and publish your photos for a good price.
If photography isn’t your thing, you can use your camera to film videos and start a channel on YouTube. Or, you can film videos for other channels using your camera and earn good money.
7. Buy a Musical Instrument
Can you play a musical instrument? Go ahead and buy yourself one, practice, and you’ll be surprised at how quickly you’ll make extra money.
Good music and gifted vocals are highly appreciated. You can put up videos on YouTube of yourself playing that instrument or singing along with it, grow your channel, get your videos monetized, and get recognized for your talent.
Posting such videos on YouTube is a good way to make extra money. Plus, you get known for your talent and get further opportunities in your industry.
8. Purchase Good Quality Paints (Yes, really!)
If you have a couple of hundred dollars, don’t spend it on food and clothes! You can still buy something that can help make you money. For instance, if you have the potential to paint the next Mona Lisa, don’t wait!
Invest in good-quality paints and painting equipment (Good paints aren’t very cheap, especially oil paints). Even if you’re not the next Da Vinci, you can still earn good money through your art. Find your unique skill and style, and practice.
Once you get better, you can earn money in several ways. For example, you can teach painting on YouTube, which is very profitable. A good example is The Art Assignment, a YouTube channel with over half a million subscribers.
9. Invest In Yourself
Investing in your self-learning through books, audiobooks, podcasts, and online courses can be a great way to make more money than you ever imagined. These resources provide the tools, know-how, and mindset necessary to help you grow your earning potential.
Books about Money and Business
Reading books that teach you how to manage your money, grow your wealth and run a business can be one of the most effective ways to turn yourself into a successful financial powerhouse.
Surrounding yourself with knowledge from experts in the money, wealth and business fields can open up new opportunities for growth and understanding. Even a few hours of reading each week could have major long-term results for your assets.
There's plenty out there for you to choose from, too; here are some of my favorites:
- Master Your Money: A Step-by-Step Guide to Creating a Solid Budget
- MONEY Master the Game: 7 Simple Steps to Financial Freedom
- The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Take Course Online
Whether you want to make money from designing websites, creating an eCommerce store, or starting your own business, online courses can be the most useful and efficient way to update your skill set.
With so many courses, it's important to find the right one. Research topics related to your desired interests and what new skills you need to acquire to succeed. Then find courses that will help give you the knowledge, skills, and tools necessary to reach your goals.
There are a variety of online platforms offering exceptional courses on a wide array of topics, such as:
Podcasts provide a portal into the minds of some of the world's most successful business leaders, authors, and experts. You'll get access to their up-to-date advice and strategies for managing your finances and succeeding in business.
Best of all, it's free! My favorites are the money and business podcast shows like So Money with Farnoosh Torabi, Money For The Rest Of Us, and BiggerPockets Money. Tune in for helpful entertainment that could make all the difference for your financial journey!
Best Things To Sell To Make Money
The internet has given us many opportunities to earn money; it's easy and accessible. You can find great deals to buy or sell items online at a moment's notice – perfect for quick flips! The question is, what are the best things you should be selling to make money?
A website is a good thing to sell to make money. Website flipping is a process of buying pre-made websites to improve and then selling them for profit. It's similar to a flea market or house flipping, except you're dealing with websites instead of physical products.
You can either purchase an already existing blog or build one from scratch if you have the time necessary; in both cases, you would make improvements on it, watch it grow into what could be your new side business, and ultimately make money off its sale before moving onto another project.
While flipping items isn't new, it's more widely known when discussing furniture or other non-clothing items. However, people have been finding success in fashion with their skills at repurposing clothes found in thrift stores.
The key to success is knowing what to sell to make money and keeping up with trends so that your clothes are always fresh for buyers! The idea behind reselling clothing might seem simple at first glance, but there’s much more to consider than just picking out an outfit from your closet —especially if you want to make money.
Additional Things To Sell To Make Money
- Old phones you want to get rid of
- Your ideas
- Free stuff that you find online or at yardsales
Frequently Asked Questions
What can I buy to make money with?
There are endless opportunities for money-making with purchases. Whether you want to start investing in stocks, buy properties to rent out, or get into the reselling game, there's something for everyone.
Do your research and find what suits you best. Perhaps you want to buy a franchise and become a business owner? Or maybe you want to get into antique collecting and resell those pieces at a profit?
You could also experiment with buying low-cost items to sell online or take advantage of arbitrage opportunities by buying items at a lower price in one market and reselling them in another.
The possibilities are endless – remember to research any investments thoroughly before making them!
What is the best product to sell to make money?
Selling high-margin products online is a great way to earn extra income and is worth considering if you're looking for a side hustle.
The trick is to do the proper research first; consider consumer trends and customer demand. Consider what people want to buy, and use sources like Google Trends, social media, e-commerce platforms, and your competitors to help you find inspiration for the ideal product.
Regarding what specifically you should sell:
- beauty products
- women’s apparel
- yoga leggings
- kids’ toys
- pet care
are all consistently good contenders for making money. Candles are also popular as they are relatively affordable items that most people enjoy buying!
What can I invest in to make money fast?
When it comes to making money fast, there are several options that you can invest in. One of the most common ways is to put your money into a stock market account and take advantage of the rising prices of stocks.
Although this method is not without its risks, if you do some research and pick the right stocks, you can potentially make a lot of money quickly. You could also look into peer-to-peer lending or cryptocurrency investments; these options offer good returns with various levels of risk involved depending on which type of investment is chosen.
Taking charge of your finances and investing wisely can be an effective way to make money quickly.
Whether you have thousands of dollars or just a hundred-dollar bill to spare, you can always find things to buy to help you make money in the short and long term. Simply put, it depends on how you plan your investments.
If you need help getting money to start investing, here are some ideas to make 300 dollars fast.
Gold, art, and vintage cars can be good options for those who want to buy and hold. On the other hand, for passive income, buying real estate and cars for rental income might make more sense.