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Make money using money

I am a university student for one, and this is my question:

I have 500€ to my name, living in Greece.
What are some low risk options for me to make money using that amount of money?

29 thoughts on “Make money using money

  1. Hey there, you have quite a few options – I’ll tell you about the one I’ve used briefly here, but I strongly suggest you check out r/personalfinance

    I deposit all my beermoney earnings directly into a high interest savings account through Ally bank (I only selected them because they have mobile access and the highest savings interest rate of 2.25ish%). Basically, it grows interest while it sits there at a much higher rate than a regular savings account and remains liquid enough for me to transfer it into my regular bank account no problems.

    Take my suggestion for the ally account with a grain of salt because I am a US citizen and not entirely sure how they work with people in other countries. Again, r/personalfinance will be able to help a bit more!

    Edit: Removed UK, replaced with other countries. I can’t read apparently.

    1. I’ve been doing that for a while to but I’m planning on investing in something else after I researched inflation which has a average of 2% a year after that it makes like .25%

      1. Yeah, I guess that makes sense. Honestly, 0.25% is still higher then my credit unions 0.18% on their savings account. I have my old 401k invested in 4 different accounts, 2 high risk and 2 low risk. It was only $4kish and has hardly done any growth this year. That’s why I didn’t invest my beer money earnings because the return on a much larger amount has been so low this year (even with a financial advisor managing my accounts) that I figured this was the better short term idea. I also don’t mess with the stock market/micro trades. My brother does and does well. If that’s something you’d be interested in, there’s money in it.

        1. I’ve also seen some better savings accounts I keep getting ads for a 2.8% one with a minimum 10k but I’d rather do something higher I’m getting into index funds and just today I’ve made 1% from s@p 500

      1. Pretty much never. I transfer from my bank into the account, fairly often. Also transfer from a pre-paid debit card from donating plasma to the Ally account pretty regularly. Haven’t encountered any fees on either way transfer but it’s always less than $150.

      1. No – I’m with ratesetter in Australia, never had a problem.
        I posted this elsewhere also but I make $10 loans, lots of them…

          1. It’s you acting as the bank – using a 3rd party (ie ratesetter) to manage the process and legalities etc.

        1. how much money do you make per every $10 loan? I’ve got ~225 sitting in my venmo that I thought about trying to do low risk stuff with

        2. I would also like to know more details have of what you make and how many loans you give if you are willing to share. The website says investors have not lost money and they are giving a bonus.

          1. I have about 420 $10 loans on average of 8.3% over 5 years (each of those is paying on average 0.20 in capital and 0.06 cents in interest a month) so I make about 25-30 dollars in interest a month. This goes up each months as I reinvest the repaid capital and interest.

            The money I originally staked is all from Beermoney efforts 😉

            ​

            Cheers

  2. I’m sure many people will suggest it but avoid peer-to-peer lending like the plague!

    They promise high returns but the reality is that over time, you’ll be losing money. Bad loans will fuck you over so much and you’ll end up with less than what you put in.

    Bank accounts are a good way, actual long-term investing in real things other than crappy P2P. Look at low cost ETFs, mutual funds, etc. Returns are average but so is risk. If you want more volatility with potentially higher rewards, you can look at building your own stock portfolio once you’re more experienced.

  3. You can learn cryptocurrency trading. You must study first, like anything else, but I have studied just a little and I already know I can make money with it.

  4. **Buy domains.**

    Look at [the list of TLDs](https://en.wikipedia.org/wiki/List_of_Internet_top-level_domains) and find available domains which are desirable – a single word for the site which, combined with the TLD, is clear, has an obvious selling point, and is cheap. Don’t spend too much on the domains and you can make anywhere from 100% profit upwards. Make a clear budget if you intend on doing this, and park the domains (with ads) or play around with it and get whatever you can from ads and affiliate links.

    As an example, I have domains which I purchased for £8-£12 which have been put up for sale at £800 without even a quibble from people buying. They were really good names, but the market is volatile at the best of times, so you need to have an idea of who you are going to sell the domains to.

    **Buying to sell.**

    If you know a particular market for things (antiques, rare vinyl, books, exclusive/limited edition items) then purchasing at a low price (using cash can, in some instances, get you a discount) and selling on at a higher price is often an effective way of boosting your money. You *really* need to know what you are doing, and you need to know when someone is bullshitting you on the perceived scarcity of whatever you are buying.

    You ought to avoid this if you are at all uncertain about what you are buying.

    **Clubs / Memberships**

    If you have a specific interest which is shared by a sizable enough portion of the populace, then organizing a get-together at a pub or other public space which you can hire for the night (and charging members a modest fee) you can clean up over the course of six months or so – even setting up a (really crappy in many cases) dating service works wonders.

    You would be amazed at how much people want to have some actual human contact rather than the anonymity and uncertainty of the internet for these things.

    Once again, you need to know the market, and have a good idea of how many people you need to attend each event to cover the cost of hiring a room and make yourself a little something in the bargain. These things often require additional hands, so either rope in friends or family (a token payment goes a long way to get people to lend a hand) or (when the things get large enough) you can take on staff.

    **Merch**

    If you know a cool artist or are following someone on Patreon who is a badass artist, then getting the rights and the nod to produce official merch is a money-maker. Once more, and you are going to have to get used to this advice, **you really need to know who you are aiming these products at**. Simply throwing together t-shirts and mugs (or any other merch you can name) and hoping that you can shift it is, in the harsh reality of an open market, harder than it would seem to the uninformed.

    With the right property, and the right audience, this is a no-brainer.

    You have unlimited potential once you have some money in your pocket. Do not throw it at something without looking at all the angles, and consider what you would do if you lost this money. Be careful with the choices you make and you can generate a great deal of income. Only spend what you are willing to lose initially, and don’t fall for any of the “get rich quick” scams which are all over the internet.

    If you need help with anything then this sub is really good. Listen to the advice you get, and evaluate that with your own experience. Even the slightest hint of doubt, and you should walk away from something that might get you money. It is only a good deal for you if you can sleep at night with your decisions.

    Good luck, whatever you decide to do.

    1. For the merch stuff, what websites would you use? And if I am using random images from google search or Pinterest with no copyright on them, do I have to track down the owner or can I just use it. Thanks,

      1. [Redbubble](https://www.redbubble.com/) is awesome. Some people have reported problems with the site, but I haven’t had any problems at all. If you are selling things which you have made – or had printed locally – then eBay is still the best way to move things outside of setting up a stall wherever there is an opportunity.

        Now the issue of using things which you have found on Google is slightly worrying. Images, as a rule, don’t carry all the information on them when they appear online, so you HAVE to know if it is reusable with credit, reusable commercially, or is going to get you hit with a lawsuit. I suggest that people interested in these things read [Plagiarism Today](https://www.plagiarismtoday.com/), which routinely covers image appropriation. You will weep at some of the judgments that courts hand down for misuse of copyrighted images.

        Thing is, there are so many free image sites out there that you shouldn’t NEED to go Googling randomly. For starters there are the Public Domain sites which upload everything that they can get their hands on which were published before 1924. There are enough images linked through [Wikipedia](https://en.wikipedia.org/wiki/Wikipedia:Public_domain_image_resources) to keep everyone busy for a long, long time.

        Please, wherever you decide to pull images from, NEVER USE PINTEREST TO SOURCE IMAGES.

        When you are browsing the internet assume that all images are copyright until informed otherwise. It will save you a great many legal fees down the line.

        Once you have an image that works for your need, *do something interesting with it*. **Everyone** is free to use all the countless images which are released through various means into the public domain, which means that you can find disturbingly similar things from disparate retailers. It is kinda like those cheap DVDs you see in the wire bins for (almost) pennies. Those are almost always PD films. To stand out you need to add a witty caption, or color a B&W image (think Warhol-meets-Hogarth), or transpose one image onto another – anything to make the casual buyer stop and say “I gotta buy this” rather than look at things others are selling.

        Be **super careful** that there aren’t any trademarks on images that might get you burned. Copyrights can expire, but trademarks are stickier – as Air Pirates (and other cases) has proven, Disney WILL fuck your day up if you use something which has one of their trademarks on it, ignoring the fact that the images might be in the public domain..

  5. I invested 20 bucks on instaforex and used their copytrading system,there is some risk to it but almost 90% of the time youll get a profit from trading.

  6. I think that with that kind of money it is better to invest in your education. Choose a field you want improve in and go for it, education pays for itself million times over your lifetime.

  7. Way more actually, a 1% daily increase only takes 71 days or so to double so it would be close to 3400% annual profit.

  8. I highly suggest investing in crypto currency. Crypto is well past the point where it could simply die out altogether, as time progresses it will only continue to be accepted by more companies and used by more of society.

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