Want to turn $500 into $1,000 in a week?
You’re not the only soul on the planet right now who wants to do this. There’s good news, and then a little bad news. But I’ll spew the bad news first before the good part. The bad news is … okay, I’ll spill the good news first. The good news is that you can make this work within a week. It’s not an unrealistic goal.
Recommended: How to Make $650 in 60 Minutes: 9 Best Ways
And you can make it happen with the right approach. The bad or slightly sad news is that you will need to take some risks… and in the process, there’s a chance that you lost your $500 dollars. But then, this is only a possibility. A 12% possibility of loss versus a 88% possibility of win.
However, every single approach in this blog post is unique with their own level of risk, and some of them have as low as 1% risk. This means the possibility of losing your capital is almost nonexistent.
With this said, here are some real ways to turn $500 into $1,000 dollars in a week.
How to Turn $500 into $1,000 in a Week: 9 Down-to-earth Methods
Promote Affiliate Products
You can spend a total of $500 dollars to promote affiliate products on social media and get a $1,000 ROI.
Or even more.
Or, less.
If you’re good at configuring ads on social media platforms like Facebook, then you can make this work. On the other hand, you may not need to spend $500 dollars if you’re an affiliate marketing grandmaster.
Affiliate marketing is getting paid to promote products people buy. You literally get paid whenever someone buys a product, an affiliate product.But if you’re not good at this, then you can add steroids (promoting the products on social media).
With all things being equal, promoting affiliate products is one of many ways to build an online system of passive income especially if the affiliate commissions are recurring. In the long run, you’d benefit so much more from learning to sell affiliate products with $0 dollars.
Sell Your Own Products
Of course, you can spend a total of $500 dollars (or nothing at all) creating a product of your own. There are many products you can create, but if you’re the average Joe and there’s nothing special about you, you can create a course about what you know how to do best.
Chances are that there are other people who want to learn the same things you know how to do. And creating a great course to teach them exactly how to do the same things you’re good at can both make you money and turn you into an authority figure.
Selling your own products is one of many ways on how to turn $500 into $1,000 in a week. If you’re smart and your course rocks, then you can make a ton of sales within a week to beat the $1k revenue threshold this blog post is all about.
Binary Options
Another way on how to turn $500 into $1,000 in a week is to trade binary options. It’s a great idea if you want to make money fast.
But then, it’s risky especially if you’re new to trading the binary options market. You’ll need to learn how to trade it profitably, and how to make every trade count. If you’re anxious, you’ll lose money. If you’re calm and strategic, you win more.
This goes a long way to prove how emotional imbalances can directly impact your trading decisions, hence, your financial status. With just a single trade in a day, you could make an extra $500 dollars.
Plus, you’ll need to actually trade with $500 or an amount in excess of $500 dollars to make more money. If you don’t want to trade the binary options market yourself, then you can hire a binary options trader to help you trade.
Or, you can invest with a binary options trading agency if there’s any you can find online (with a high trust rate). If there’s none you can find or trust, then you’d just have to learn and practice to be a better trader yourself.
Dropshipping
Dropshipping comes in as one of many ways to turn $500 into $1,000 in a week. You build a store online, and connect this store you’ve built to a different but original ecommerce store. When people visit your store to buy stuff, their orders automatically redirect to the original (ecommerce) store.
Sounds good right?
There’s no need to purchase anything physical or any product, or bother about maintaining your inventory or shipping.
The other ecommerce store at the end handles all of that for you. You basically take care of the complaints of customers who drop by your online store to order products. And it’s usually a bad time when customers request a refund or a return.
Other than the refunds/returns issue, dropshipping is ecommerce oversimplified. Your responsibility becomes the need to drive traffic through your dropshipping store so that you can make more sales.
Crypto Trading
If you’re a crypto trader, chances are you already know what’s possible in the crypto market. If you’re good, then making a profit of $500 dollars wouldn’t be an issue for you.
And then, if you’re a beginner, there’s only so much you can learn before getting to trade eventually. Understand how the crypto market works, and be ready to take some losses too.
For starters, you can learn to trade using a demo account, and a lot of crypto trading exchanges allow for users to create demo accounts. Thereafter you can practice all you learn on a demo account and figure out the best strategy to use mostly.
Currency Exchange (Forex)
Forex is also another way to make money or turn $500 into $1,000 in a week. It’s basically all about trading foreign currencies against foreign currencies.
Plus, there are high odds that you make 2× your trading capital of $500 bucks if you’re good at trading and you observe the possible risks associated with trading Forex.
It’s not gambling, and as such, there’s a really high possibility for you to learn about the best trading strategies that work well (even for starters and experts). Investing long-term in the Forex market is another idea, but it probably would be best if you’re not looking to make 2× of $500 dollars within a week.
Stock Trading
Trading stocks still remains one of the best things to do online to make money fast. Plus, it’s a more stable online market where prices don’t go on steroids. They do, but not as frequently as well with crypto (meanwhile Forex is also stable).
Trading stocks, you’ll need a winning strategy to make a win with every trade you implement. Again, you don’t have to go to spend a lot of money just to learn to trade stocks. There’s more than enough resources on the internet to learn with.
Once you know how to trade stocks really well, it’ll be easy to make money from just a couple hundred bucks. And by compounding your trading profits, you can easily grow a small stock trading account.
Sports Betting
Betting on sports is pure gambling. But then, it’s one of the ways to turn $500 dollars into $1,000 dollars within a week. With the right bets, this can happen in the day. There’s really no way to know the outcome of a sports bet. It’s just more about pure instincts as anything is possible when betting.
Again, getting to know about the sports you’re betting on and arming yourself with an historical knowledge of the activities of participating teams/clubs/players in the sports will help you make a more informed decision when betting.
I’m 100% against betting. But if the odds aren’t against you, you could become right overnight.
Recommended: How to Make $5,000 in a Week: 14 Best Ways
Freelancing (Mostly Free to Start)
Freelancing is all about working online for people temporarily, or under a temporary contract. As a freelancer, you do stuff online for temporary employers. However, you reserve the right to work when you want to, and to work for whom you want to. You’re not basically “working” in the 9 to 5 sense of it.
Instead, you’re a contractor whose services are premium and you get paid every hour or per word (for writers and copywriters). So, if you’ve got a nice skill like you’re good at designing graphics or you’re an excellent writer, you can freely sign up to become a freelancer.
It’s free to get started, and some of the places to start freelancing include:
- Fiverr
- Upwork
- Freelancer
- Guru
- Toptal
- 99designs
- Indeed
- Peopleperhour
- Clearvoice
To quickly turn $500 into $1k within a week, you can promote your services on social media just to get more eyeballs and to increase your chances of getting hired as a freelancer.
It could take several days to weeks and even months to get a gig especially if you’re new. But by promoting your services, you’re compressing all the waiting time by reaching more people online and having more eyes over your portfolio, and services.
When you get hired, there’s every likelihood that multiple clients will work with you within a week to ramp up your earnings to over $1,000 dollars. If you’re lucky and you’re really good at the stuff you do, a single freelance gig can earn you over $1k dollars.
How to Turn $500 into $1,000 in a Week: 9 Down-to-earth Methods – Summary
In summary, some of the most realistic ways to turn $500 into $1,000 in a week include freelancing or selling our your services as a freelancer, betting on sports (which is one risky way out), trading the stock market with the hope of getting a 100% profit within a week (while trading with 500 dollars), forex trading or currency trading, trading crypto and particularly futures contracts, promoting affiliate products, selling your own products online, dropshipping, and trading binary options.
In all things, you must be willing to take risks in order to make more money. Life is really about taking risks and taking chances. And like I mentioned before now, a bunch of these ways to turn $500 into $1,000 dollars in a week will test your ability to bear risks.
