I need to spend money to make money, Ideas?

[Deleted]

I'm really disappointed in this thread. I came in here totally expecting a Brewster's Millions type scenario. That would have been much more fun.

OT: Like it has been said, you really can't do much with that amount of money. Your best bet would be to find a friend or family member that's a financial adviser (since paying for one would deplete your sum of cash) and asking them what's the smartest route for someone in your circumstances to take. Without more information about yourself, you standard of living, where you live, etc., it's really hard for anyone to make a strong recommendation.

Believe me, if it was that easy to get rich from only a $2k investment, nobody would be sharing that secret on a popular public forum.

[Deleted]

I "invest" the money that I make as a web designer in my family business. In a few years I will be the majority stockholder, so a good and just to "retire" my father. Also having a nice cash flow outside of banking loans is a very good option of a business so I am also helping out, instead of just keeping it in a savings account forever and hope the future will be bright.

[ripponesan]

Only buy stocks if you can afford to loose it all.

Not telling a trend here, but never goto the stockmarket with money you NEED. At least not fast.
Most losses can be dealt with if there is enough time.

[Thedoja]

Buy Bitcoins

[Zeglo]

Buy stocks for long-term growth. If you do it right, the returns could be pretty high. If you are not keen on investing in stock, maybe try a mutual fund or some ETF's. The problem could be low returns on anything other than stocks. I agree with what Anthonian says, too.

[TequilaFlavor]

$1k-$2k is a very small amount of money when it comes to investing in shares. When you take into account brokerage fees, it's very difficult to turn a profit with that money. You're best bet is to throw it into a savings account and earn a few dollars in interest. It might be a small profit, but it's a small profit.

This pretty much sums it up perfectly.

[Toxigen]

If you don't have an emergency savings account that could cover 6 months worth of living expenses, bank it.

If you're comfortable with your "rainy day" savings, start a Roth IRA (assuming you make less than $110,000 per year and file single) with Vanguard. I recommend a Target Retirement Fund...its basically a big mutual fund + bond fund that will automatically adjust allocation as you approach your set retirement date. You get exposure to the entire U.S. and "foreign" markets with extremely low expense ratios. Minimum initial investment is $1000, with minimum contributions of $100.

Set it up to automatically contribute a set amount every month...whatever you can afford.

https://personal.vanguard.com/us/fun...FundIntExt=INT

Good luck.

[Skippy88]

Just to let everyone know the OP originally wrote this a long time ago (July 2012) and his last post was from January.

[PhoenixC13]

Buy silver.

[Sevyvia]

I have like $1k-$2k to invest in whatever. I don't care what it is. I would just like to make money off the money I received. Looking for ideas of exactly -what- to do with it. Looked into banking it and CDs and stuff, but that profit was very small.

If you're looking to "invest" $1-$2k, there's really not much you can do. Maybe look into T-bills or something.

You could start a side business with that small amount of money, but that doesn't seem like what you're interested in. I'd recommend just saving it up, really. You're earning money any time you don't have to take out a loan to do something, whatever it is. Car repairs, new car, new stereo, whatever. The less loans you have to take, the more money you'll have down the line.

[Wikko]

Just to let everyone know the OP originally wrote this a long time ago (July 2012) and his last post was from January.

If only someone had told him to buy Bitcoins back then

[Varabently]

Unless you already have several thousand dollars saved up for emergencies you need to put it there. Since we don't know anything about your financial situation as far as savings, income, etc. there's really no way to give legit advice.

I'll assume you don't already have those things in a good place, else you wouldn't be the type of person who is asking what to do with money on MMO-champ.

That being said, good luck.

[brownia]

Why are you unnecessary wasting your money to make more money. If someone is not successful in such efforts then he has to see the face of big loss. These days there are so many ways to make money online, that you need not to spend even a single penny. If you have good writing skills or you are good photographer then there are thousands of online sites, who pays you for your efforts in writing and photography. You can write contents for other sites but the requirement is that , it must contain your creative ideas in your own language rather than copied one. Similarly there are different sites where you can even send your photography skills and and if it is liked by the site, then also you’ll be paid. One more positive aspect of posting photographs is that, advertisers will contact you , and if on the basis of that advertisement they get good sales of their products, then you will be paid royalty also. You can start with redgage.com
You can go for affiliate marketing also. Here you have to make a link between the seller and the customer. Whatever be the sale on the basis of that marketing, you will be given commission on each sale.

[lockedout]

$1k-$2k is a very small amount of money when it comes to investing in shares. When you take into account brokerage fees, it's very difficult to turn a profit with that money. You're best bet is to throw it into a savings account and earn a few dollars in interest. It might be a small profit, but it's a small profit.

Also, if you want to make money... get a job.

LOL interest on a savings account will earn you a few cents per year.

[May90]

Holy necro Zergling...

[LiiLoSNK]

2 year old thread.

Yea his money is long gone by now.

[derekbrian]

A similar question was asked by one of my close friend. Being from army background he has very less knowledge in this field. He is a good writer and very good hands in nature and animal world photography. I told him why he is wasting money and it can be used in the time of need. There are certain sites like Redgage, where if he contributes his writing or posts his photographs, he can earn handsome amount. He followed my advice and today he is the very successful online writer and earning the good amount.

[Bapestar]

Mmoc is on fire tonight, I can't stop laughing.

[kail]

Buy Bitcoins

Based on the date posted, this was amazing advise.

P.S. I'm curious how this thread survived multiple necros.

[May90]

My friend earned like $15,000 out of her $5,000 or so investment in just 3 months in Switzerland, trading between USD and EUR, as it was a period when the conversion rate was jumping all around, and quite a few people made lots of money at the time. I wouldn't rely on that much though, as it is somewhat akin to a lottery.