Got $500?

With that amount, you can spend it on some video games, maybe a nice jacket, or a trip to a theme park. However, what if you could use it to one day reap in profits in the double or even triple digits?

You can do so by stock investing. Of course, you still need a broker or at least a reliable online app to get started but the fact remains you can invest with as little as $500.

If you’re looking to start an online business, you need to define your business model. But with less than $500 as capital, you need something else to invest on. A lot of them can help you get enough money to jumpstart your actual business.

Also, stocks aren’t your only options! There are more business ideas to invest in with your savings.

Discover more investment ideas for beginners here:

1. Invest in the Stock Market

A lot of people think that this is the most basic advice anyone can read. But the truth is that most people recommend this option due to the fact that it actually pays off. If you’re still on the fence, you can read this article on how to invest in stock market.

At its most basic, you can invest in stocks through two methods: through a broker or through mobile apps and other PC software. If you choose to go with the former, you need to get a person with the right credentials to make financial trades possible.

Using mobile apps to start investing is the ideal method if you have less than $500. This allows you to invest small amounts at your own convenience. Always remember not to invest everything and you’ll be fine.

2. Build a Dropshipping Store

If you start drop shipping, you need to rely on a third party to store and ship your inventory to your customers. That means you only need to worry about making the sales. It’s a modern take on buying cheap items and selling it for profit.

It’s a more desirable method since your supplier will handle the product delivery. With less than $500, you can use eCommerce platforms to help you curate products. You can look for different suppliers to cater to different niches.

3. Sell Print-on-demand T-Shirts

This type of investment uses the dropshipping business model. That means your inventory, shipping, and fulfillment has third party support. Unlike drop shipping, this business focuses more on customizing products using your designs.

There are a lot of platforms for you to get custom designs if you don’t trust your creativity. Freelance websites can net you some good designers to work with. It’s also paid per-product, meaning you won’t spend anything until you sell something.

4. Book Writing

Books are products, meaning you can make it satisfy specific market demands. You can write books about topics you’re well-versed in. For example, you can make cookbooks if you’re good at cooking, or a novel if you’re imaginative.

Print-on-demand publishing helps you test your book’s viability. This jumpstarts self-publishing without compromising your control over the book quality. With the book’s launch, it also helps you monetize your blog if you have one.

5. Make Digital Products or Courses

There are a lot of intangible products you can sell online. You can try investing in digital products like music or templates. If you’re talented enough to do this, you don’t have to worry about repeating costs related to manufacturing or shipping.

The trick is to think about the best digital products around. Check for its usefulness to ensure a lot of people download it. Often, original instrumental scores, stock photos, and online courses get higher profit margins.

6. Sell Print-on-demand Posters and Other Prints

Do you have an artistic inclination or know how to use cameras? If so, you can try small investments related to print-on-demand posters. This lets others own a piece of your artwork in physical form.

Make sure that you have the rights to the content you’re printing. Otherwise, you can use public domain assets or outsource an artist instead. If you’re a cartoonist with an online following, setting up this business model is a great choice.

7. Sell Your Services

If you have lots of free time, you can start a services-based business. After all, time is your biggest investment and your only inventory. It’s cheap and easy to set up, especially if you’re adept on skills a lot of people need.

If you have writing or photography skills, you can make this as one of your quick investment ideas. Build your business using your own skillset to decrease the actual money needed. You can always expand and use your other talents to make more revenue streams.

There are a lot of freelance marketplace platforms on the internet. In most cases, you won’t need to pay a single dime to set up your business profile. You need to check on the most popular ones to ensure that more people will discover your skills and hire you.

8. Try Peer-to-Peer Lending

Do you need good small investments?

With social lending, you can let people borrow your funds. They can do this without the need for official financial institutions. Through these sites, you can help people consolidate debts and get paid on a monthly basis.

The amount you get contributes to the principal and interest as the borrowers pay. Most reputable websites get between 5-7% rate of solid returns on investment. If you want your $500 to grow without you doing anything, P2P lending can be your best choice.

Remember, time is your greatest asset. Earning money while freeing up your schedule can help you avoid getting burned out. It can also help you get more work if you’re willing.

Learn the Best Investment Ideas for Beginners Today!

Regardless of the amount of money you’re willing to invest, a lot of small investments can work out for you. Don’t get discouraged by the bad reputation some of these suffer from. Try these investment ideas for beginners and start earning more money today.

Do you want to loan cash to jumpstart your business instead? Why not read our guide here and learn about the common requirements when trying out personal loans? This allows you to know whether you’re ready to get one.