How to Multiply Your Money

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You can multiply your money in many ways, though not all are equal. Here are 6 great ways to grow your money and pursue financial freedom.

Want to multiply your money? I realize the answer is a given as who doesn’t want to double their money, or more? Making extra money is a powerful tool that allows you to pay off debt, save for retirement, achieve financial independence and much more. I first learned the power of multiplying my money when I was paying off debt. I wanted to pay it off quicker and learned about the power of establishing multiple revenue streams.

There are many ways to multiply your money. The Internet is full of them. Some of them are good, like investing in the stock market. Others not so much, like get rich quick schemes. If you want to multiply your money so you can accomplish goals you have in mind, one of the below methods will help you grow your money.



Investing in the stock market is the go-to for multiplying your money and one of the best passive income ideas to pursue. I know the stock market can be risky. I know you’ll lose money. You know what? You’ll also make money – you can’t do that without not having risk.

The key to investing is to realize what you’re investing for and the timeframe involved. Assuming you’re saving for retirement it’s likely decades away from now but don’t let that time lull you into not taking action.

You also don’t want to give into the excuse of having little money to invest. If you have only several hundred dollars or less, it makes a difference and can be invested. There are many online brokerages that allow you to start investing for as little as $250 or less.

If you don’t have that much you can open accounts with Betterment or Ally Invest as they have no minimum balance requirement and are very low cost.

Consider this, the Center for Retirement Research states that if you wait to start saving for retirement until age 45 you have to put away three times as much as you would if you had started at age 25. The point? Let time do its magic as it’s one of the easiest ways to multiply your money.

If you’d rather not invest in the stock market, you can also invest in real estate through crowdsourcing. Fundrise lets you invest in real estate and you can open an account with as little as $500.



I thought I was talking about ways to multiply your money? If you do it right, even shopping can help you grow your money – in fact, I think it can be one of the best ways to make extra money.

I love to shop on Amazon. It means I get to avoid the malls and I can do it from the comfort of my home. It doesn’t get much better than that.

How does shopping on Amazon help multiply your money? Easy – you get money back from your shopping through a cash back site. Sites like Ebates and Swagbucks allow you to earn cash back on your shopping on Amazon, not to mention hundreds of other sites.

Ibotta is a similar site that lets you earn cash back when you buy groceries.

Ebates allows you to redeem points for cash and Swagbucks allow you to redeem points for Amazon gift cards. Ibotta lets you get cash back via PayPal or Venmo so you definitely have options.

Do you have an eye for a good deal? You can sell those items, for a profit, by using Amazon FBA. You can make hundreds, or more, each month by selling items through Amazon. Here are some free training courses to help get you started to make money on Amazon.

If you like to fill up your free time by taking surveys to make extra money both Ebates and Swagbucks offer those as well. Other survey sites that offer cash back are:

Survey Junkie – Survey Junkie is our favorite survey site as they pay you cash straight to PayPal, or let you redeem rewards for Amazon gift cards

Pinecone Research: They pay $3 per survey and they pay cash directly to your PayPal account, or you can choose Amazon or restaurant gift cards. They also pay to do product testing

Opinion Outpost: One of the top survey sites in the space and they have quarterly $10,000 prize drawings

Inbox Dollars: Earn money for taking surveys, watching TV or making purchases online. Get $5 just for signing up

Survey Voices: Survey Voices is a bit different than the others listed. Survey Voices is a market research company and matches you with other reputable survey sites you qualify for – many of which pay out in cash or Amazon gift cards

You can make several hundred dollars per month this way if you sign up for multiple sites, which is a good method to multiply your money.



Multiplying your money requires making extra money, but it can also involve finding ways to save money each month. Either are good options to pursue though combining the two makes them that much more powerful. With that in mind, it’s important to find money saving opportunities.

How much are you paying for your cell phone bill? If you’re paying $150+ per month like the average person then it’s way too much!

There are many cheap cell phone plans to choose from now that allow you to save $100 or more per month – the best one being Republic Wireless that has plans starting at $15 per month. Don’t spend the savings though – stick that $100+ per month in your brokerage account and watch it grow.



Savings accounts are the old-fashioned way to multiply your money. I remember opening my first savings account and watching it grow as interest rates were good. That’s not the case anymore. That being said, there are still ways to multiply your money through a high yield savings account.

Not all high yield savings accounts are created the same. The best ones will pay at least .8%, or more and require no minimum balance to start.

Online banks like Synchrony Bank pay 1.55% on your cash and have no minimum balance requirements.

Whether you need to start an emergency fund, or simply want to grow your savings, any of the above are great options to do that and make some money on your spare cash.

Sign Up for A Rewards Credit Card


A credit card is a great way to multiply your money – if you use it wisely. Not any credit card will work, it has to be a rewards credit card.

You can either travel hack like my wife and I do in order to travel for free or you can sign up for a rewards credit card that gives you cash back on all of your purchases – here are some cards to keep in mind to help you earn rewards.

Some of the best rewards credit cards allow you to earn 5 percent cash back, if not more, on your regular purchases. This isn’t to mention the sign-up bonuses many offer when you open a new account.

You can multiply your money in many ways, though not all are equal. Here are 6 great ways to grow your money and pursue financial freedom.



You read that right. One of the best ways to multiply your money is by lending it out to others through a peer-to-peer loan. This is a great option if you have little money to invest with or you want to diversify your investing.

The two main P2P sites, Lending Club and Prosper claim to offer returns of anywhere between 5-9%. Of course, you’ll want to spread your risk and realize there is a risk of default that can impact returns. However, that’s a big reason you should spread out the money you invest as much as possible.

Personally, I think this is a great way to multiply your money – you get to help someone get an unsecured personal loan and you get to grow your money. Two birds, one stone!

Additional resource: If you want to multiply your money by investing in the stock market but feel you have little money to invest, don’t let that hold you back! You can invest in the stock market with little money through a number of options. One option is Betterment. Betterment allows you to open an with no minimum balance and, being a robo-advisor, they manage your investments for you in a custom portfolio of low-cost index funds.The best part of the deal is Betterment is incredibly cheap!


Open your Betterment account today and get up to 12 months of management for free!


What are some of your favorite ways to multiply your money? What’s the craziest thing you’ve done to make extra money? How much was the interest rate on your first savings account?


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I'm the founder of Frugal Rules, a Dad, husband and veteran of the financial services industry. I'm passionate about helping people learn from my mistakes so that they can enjoy the freedom that comes from living frugally. I'm also a freelance writer, and regularly contribute to GoBankingRates, Investopedia, Lending Tree and more.


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