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Did you know that 58 million Americans who are already employed participate in independent work? In fact, the global gig economy (i.e., side hustles) is set to exceed $455 billion in 2023.
Those are staggering numbers, especially for people already working a 9 to 5. In this day and age, sometimes that full-time income doesn’t cut it.
If you’re looking for a source of supplemental income, you’re not alone. Many people seek out ways to make extra money for several reasons, including financial security.
Flipping money is one way to supplement your day job. It doesn’t require a significant financial commitment, and some methods require little time or effort.
Our guide below includes nearly a dozen ways to flip money for profit to secure your financial future. Flipping money is not a scam, but between each of the methods, shady characters wait to take advantage of you.
Are you ready to learn more about how to flip money? Let’s get started!
What it Means to Flip Money
If you want to flip money, all you have to do is buy something and flip it for a profit. Most of these money-flipping methods are short-term investments, but they can also be long-term.
You can implement several money-flipping strategies. Some require effort, time, and money, while others are less demanding.
To help further contextualize what it means to flip money, we’ve put together nearly a dozen ways you can flip money for profit. It may not be enough to live on, but it’s undoubtedly an income stream.
11 Ways to Flip Money
As you go through this list, consider what methods strike you. Write them down to investigate how you can flip money for a profit.
1. Automatic Investing
If you want to make $10 fast, setting up automatic investing can help you reach that goal. You can manage your own portfolio and automatically invest or seek out a robo-advisor to do the same.
One of the most popular ways to automatically invest is with M1 Finance. This app works well for beginners and those who want more control over their portfolios.
M1 Finance lets you choose between “pies,” already established portfolios or your own selections. You can trade:
- Fractional shares
This free app also lets approved investors dabble in margins. Signing up with M1 Finance earns you an interest-bearing checking account with a debit card, and you won’t pay commission on your trades.
2. Bank Account and Credit Card Farming
Some of the best cash back cards and bank accounts offer a sign-up bonus or some sort of reward for completing a series of tasks within a specific time. Taking advantage of these offers requires a bit of organization, a high credit score, and a positive banking history.
Bank account farming is a good one to start with, as credit card farming can be complicated. To flip money with a bank account, you’ll need to find one that offers a sign-up bonus.
Many bank account sign-up bonuses require some or all of the following:
- Sign up for direct deposit
- Deposit a certain amount within a specific period after opening the account
- Keep the deposit in the account for a certain amount of time
- Spend a set amount from your new bank account within a certain time
Once you complete the requirements and earn your bonus, all that’s left to do is open a new one to continue the cycle. You can keep your new bank accounts open or close them as you please.
One bonus that's currently running is a $250 bonus from SoFi, it's worth checking out.
Credit card farming is similar but takes careful consideration. Many people don’t like risking their credit scores with this method of flipping money, so it’s not for everyone.
Many credit card companies offer similar sign-up bonuses to banks. The key is to qualify and acquire these credit cards, complete the steps required to earn the bonus, and then repeat the process for another credit card.
Opening and closing credit cards can harm your credit history length and potentially your score. Consider this method of flipping money wisely before attempting it.
3. Complete Paid Surveys
Wouldn’t it be nice to make a dollar a day by answering survey questions? A single dollar might not get you much, but it’s one dollar you didn’t have this morning!
Survey apps are one of the most prominent money-making apps you can download for free to flip money. Companies participating in market research will pay you for your thoughts on nearly anything under the sun.
Completing paid surveys may earn you a part-time salary, but it can help you pass the time and get paid. Popular survey apps include:
These sites are often referred to as get-paid-to (GPT) websites. Some, like Swagbucks, offer a $10 sign-up bonus for creating an account.
4. Flip Goods
Flipping goods for a profit often requires visiting garage sales and scrap yards. Here you can find items to sell for a profit, as long as you can pick them up cheaply.
Many people have made a living flipping used cars. After all, it’s one of two ways dealerships make money.
You can also flip things like clothes, shoes, and technology. If your town or city puts on a flea market, you can easily take advantage of these prime selling grounds to hawk your wares.
5. High Yield Savings Accounts
Who knew you could make money instantly with a high-yield savings account? You must deposit funds in your new savings account and watch the interest rack up.
You can find high-yield savings accounts online with a simple Google search. You can earn passive income with savings interest if you fulfill the listed requirements.
For example, Quontic High Yield Savings offers an impressive interest rate and you can open an account online in just 3 minutes and with only a $100 opening deposit.
Some banks also offer CDs with similar, if not higher-yield interest rates. Ensure you can put that money in a CD before you part with it for a few years.
6. Investment Apps and Sites
“Buy low and sell high” is a common sentiment among investors. It’s not as easy these days, but it can help you flip money in a big way.
Many online brokers have made investing more accessible, as long as you’re comfortable with risking that money on something that’s not guaranteed. However, several brokers, apps, and websites make it easy for beginners to start investing with little money to flip.
Public is one of the more popular investing apps, as it lets you invest in the following:
- Real estate
- Luxury goods
- Music royalties
7. Money App Bonuses
Money apps differ slightly from banks in that they’re typically online-only financial institutions requiring a financial backer. This financial backer provides services such as FDIC-insured bank accounts.
Money apps like Dave can help you save, invest, and budget. These accounts are FDIC-insured and don’t require a minimum balance.
You can also receive a $500 cash advance from Dave without a credit check, interest, or late fees. You’ll need to complete a few steps before becoming eligible for this advance, but it can be helpful if you’re in a pinch and want to avoid overdraft fees.
8. Real Estate Investing
Investing in real estate isn’t necessarily a new way to flip money, but many people have made a sizable amount by flipping money with real estate. Among all the methods listed here, however, it’s one of the more complicated.
You can approach real estate investing in several ways, including:
- Flip properties: With a little TLC and some paint, any house can look worth a lot more. If you have the capital to renovate and sell homes for profit, flipping properties can help you accumulate that money.
- Flip land: If renovating sounds like too much work, it can be easier to flip land instead. Investing in and selling land for a profit takes more time than a renovation in some cases, but it can pay off handsomely if that land spikes in price.
- Invest in REITs: REITs are a common solution for investors who want to invest in real estate from a distance. These real estate investment trusts (REITs) typically hold commercial properties that pay monthly dividends and capital gains when the property is sold. You can do this easily by using apps like Fundrise, as well.
The most traditional way to earn money with real estate investing is to pick up a rental property. However, many people choose the money-flipping methods above instead because you don’t have to take on everything that comes with being a landlord.
9. Retail Arbitrage
Most people visit the store several hundred times, perhaps thousands of times. But did you know you can take those shopping trips and flip money by buying clearance items and reselling them online?
Retail arbitrage, as this practice is called, works well if you’re a bargain hunter. If you can find great deals at retail stores and garage sales, you have this method of flipping money in the bag.
Most people create an Amazon account to resell items they purchase for cheap. However, you can also use MTurk alternatives such as eBay or Craigslist to sell these items.
10. Side Gigs
Finding side gigs is easier these days than in the past. In fact, a Google search of “gigs near me” can introduce you to several side gigs in your area.
Side gigs are a great way to dabble in a few things, especially if you have free time. However, you must choose between working for yourself or another company.
You might deliver meals with DoorDash, packages, or groceries if you work for someone else. You can also get paid to drive people around town.
As a freelancer, you can become a writer, a graphic designer, a virtual assistant, a voice-over actor, or a bookkeeper. The sky's the limit when it comes to side gigs.
11. Use Your Skills
We all have natural talents, and using them can help us flip money faster than any method. It’s all about what you know and can do with it.
Consider what you’re good at and research how others make money with those skills. For example, you can flip:
- Domain names
- Art shares
Some of these require an investment, while others require time and energy. Write down a list of your skills to see how you can flip money.
How to Start Flipping Money
Flipping money doesn’t require drastic lifestyle changes. Instead, here are a few ways you can get started flipping money:
- Choose one or two methods and see what they’re all about. If you earn less than you thought with one or more methods, try another set. Keep a journal or list of how much time you spent working on various methods and your earnings.
- If you’re strapped for cash, choose money-flipping methods that don’t require a financial commitment.
- Scams are prevalent among flipping money methods. Watch for anything suspicious on social media or involving Cash App.
- Do your research. Learn more about a particular method and what others have made from it to determine if it’s worthwhile. Don’t fall for pyramid schemes.
- If you invest in real estate to flip money, come to terms with the possibility of losing those earnings. Gauge your spending accordingly.
It’s easy to get overwhelmed by wanting to earn as much money as possible. Work smarter when flipping money, not harder.
Flipping Money FAQs
Flipping money means that you buy something for a low price and resell it for profit. Several ways exist to flip money, from a high-yield savings account to completing surveys.
Some of the easiest ways to flip money include answering survey questions, earning money app bonuses, and setting up automatic savings. Retail arbitrage can also be an easy way to flip money if you have an eye for a deal.
You don’t always have to have money to flip money. In some cases, such as answering survey questions on Swagbucks, there’s no financial commitment required.
Yes, it’s legal and legitimate to flip money if you do so in an acceptable way. Our list above includes 11 legitimate ways to flip money.
Flip Your Future with Money
Flipping money might sound like an odd term, but it’s often how many of us make a living. Buying low and selling high isn’t a new concept for making money.
We hope this article has helped you see how you can flip money without a required financial commitment. Among these 11 ways to flip money, you will surely find one that suits your skills.
Learning how to flip money can help you create multiple income streams to save for your future. Even the most minor streams can help contribute to your wealth.
How can you flip money to improve your finances and your future?
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