How To Make Money With 5000 Dollars: 12 PROVEN Ways In 2023 (2024)

Do you want to know how to make money with 5000 dollars? I'm talking cold, hard cash in your pocket — using proven methods that work like gangbusters.

Sounds like a pipe dream, right?

I promise you; it's not.

The 12 methods you're about to discover in this post are achievable for almost anyone.

Even you.

Let's take a look at them.

12 Ways How To Make Money With 5000 dollars

The methods below are proven to work; people from all walks of life implement them successfully. However, there's no magic button or guarantees; you will need effort, research, and determination to push through with a positive attitude.

That said, let's start with one of my favorite ways to invest 5,000 to make some passive income and extra cash.

1. Build A Niche Website

Building a niche website is arguably the most common method and one that you can get started doing almost immediately.

If you do this correctly, you could be making passive income within 12 months.

You'll need a domain name and hosting, which costs around $100 for 12 months.

Costs vary, but typically, a niche topic won't cost you anything but research so you can save money there. Plugins and themes will cost around $150, and you can get started with a free plan for an autoresponder.

Here's what I would do with the rest of your money.

1. Buy a subscription for Brandon Gaille's RankIQ (check out our RankIQ review) and get a list of keywords with low competition (this will save you a ton of time researching keywords and ranking in Google)
2. Compile a list of at least 30 articles to write from the keywords.
3. Take $3000 out of the money left over to hire writers paying 5 cents per word — each article is around 2000 words long.
4. Create an ad on the ProBlogger job board for writers specializing in your niche topic.
5. Add the content to your website
6. Build an email list
7. Keep adding content
8. Monetize with affiliate links and ads using Google AdSense, Ezoic, etc.

2. Buy And Sell On eBay

You have 5000 dollars, so you will use a chunk of this investment to purchase products to resell on eBay at a profit.

The first step is to decide on the type of product you want to sell by doing market research. It's a good idea to choose a niche market and then research the demand for products the audience is buying.

Once you've decided on the product, look for a manufacturer that will sell you the products at cost. Then add what you want to make your profit.

Depending on the product, you can get some fantastic deals on Alibaba and AliExpress — but be sure to vet the sellers before buying and investing any of your money.

Once you have the products ready to ship, take some great photos and list the items on eBay.

You'll have access to eBay business tools, and you can open a shop for lower fees, free listings, and even more benefits.

The critical takeaway with buying and selling on eBay is to start small to test the waters, and if the product is selling, increase your inventory.

3. Create An eCommerce Store

This small business method is similar to building a niche website, but you focus more on selling a particular type of product(s) in a specific niche market.

Alternatively, you can use subscription-based eCommerce software options like Shopify or BigCommerce.

These options offer excellent features, and you can build an online store ready to sell your products quickly and easily.

You would use your 5000 dollars to purchase your products to sell at a profit and pay for the website or eCommerce software service costs. Just make sure you don't rack up credit card debt you can't pay off.

4. Build An Online Course

Building an online course can be highly profitable if you do your research before creating it. The trick is to make a course your audience wants, and a great way to do this is by asking them about it.

Email your list and ask them the main problem that keeps them awake at night and what would make that problem disappear.

You then go and create a course based on the most popular answers.

If you don't have an email list or want to clarify your pre-launch research, you will need to see what's already selling and put your spin on things — and add what's missing from other courses.

Search for courses in your chosen niche for ideas.

You have 5000 dollars, so my advice is to invest in Teachable. It costs around $29 per month, and you get great features such as drip-feeding content, custom domain, hosting of content and videos, a payment processor, and more.

If the course starts seeing sales, ramp up your efforts. For example, you can use a few hundred dollars to test paid traffic using Facebook and Google AdWords.

5. Flip Websites

Flipping websites can be profitable if you know how to spot a good deal and use intelligent tactics to grow the website.

You can then use the same tactics for building a niche website to grow your monthly income.

MotionInvest will vet the seller and provide proof of earnings, so the website you buy will be genuine.

Here's a breakdown of the strategy:

• Learn about flipping websites and content marketing — the Niche Pursuits podcast is a great place to save money, start and features interviews with many site builders and website sellers.
• Purchase a website on MotionInvest for less than $2000
• Compile a list of low-competition keywords to target for the new site
• Spend $2000 paying freelance writers to create twenty 2000-word articles based on your keywords.
• Purchase an internal linking plugin like Link Whisper to quickly create an internal linking structure (great for SEO)
• Continue to add content by yourself or reinvest any income from the website.
• Build backlinks
• Create social media platforms for the site
• Build an email list
• Then sell 12 months later at a profit.

If you do the above correctly, you can make a big profit when you sell the site, and of course, you will already be making free money in monthly income from monetizing with affiliate links or ads. Just make sure it's within your risk tolerance.

6. Start A Podcast

Podcasts can make you money with ads and sponsors. You can also make more money by recommending affiliate links in the show notes.

The process involves choosing a niche topic to chat about and creating regular episodes for your audience.

You will need to purchase:

• A decent microphone
• Good headphones
• Editing software
• Podcast hosting service

In addition, you will also need to know what you're talking about, or your audience won't listen.

Once the podcast is up and running, you can create a niche blog (see the first method) and highlight the podcast on the blog.

7. Create And Sell An Ebook

Another great way to make money with 5000 dollars is by creating and selling an eBook. You can sell it on your blog or sell it on Amazon.

You have two choices.

You create or purchase content for each chapter, add them together, write an introduction and closing, and the book is almost complete.

Of course, you'll need to have an eBook cover design, which will probably cost around $100, and you will have to upload it to cloud storage like Amazon s3 to allow downloads once sold, if not selling on Amazon.

You will also have to spend money on a good editor.

You could also give the book away as an incentive to grow an email list and make money from affiliate marketing.

8. Start A Content Agency

Content is still king, but finding good content marketers seems to be more difficult than ever!

Business owners and niche website builders are desperate for freelance writers, and they will pay extra for content strategy (check out how a great content strategy can make you money).

In addition, it's a good idea to have a subscription to a keyword service like Ahrefs or RankIQ (probably both). The extra cost for these services is around $1600 per year.

You can quickly become profitable by building an agency of 5-10 good writers and specializing in a niche market.

You charge the client a price for content and then use one of your writers to create it — at a lesser price than you set for the client.

The trick is to get retainer clients and offer extra services like keyword research. You will have Ahrefs or a similar tool if you follow the advice, so finding keywords for your client is easy.

You can charge them an additional price for the service.

Of course, you need good writers, so you will have to spend some money on hiring them and more money on finding clients.

A few ways to find clients are:

• Apply to ads on job boards, and offer your services with a guarantee
• Run Facebook ads
• Build a blog and target keywords related to your niche
• Build a social media following
• Offer free articles to a few clients in exchange for a review
• Create case studies

And to find writers:

• Search for freelance writer directories on Google (you can find some good options in our list of the best sites for freelance writers)
• Create a job ad looking for freelance writers
• Advertise on Upwork
• Search Twitter

It would be best to keep both the writers and clients happy, so make sure you test your writers for quality, perform plagiarism checks, and set deadlines.

9. Blogancing

Blogancing is a new term which means freelance writing and blogging simultaneously. You start a blog and use the articles on your blog as proof that you can write good copy when pitching for jobs as a freelance writer.

The first step is to decide on a niche topic for your blog.

You want the niche to be related to the type of content you want to write for clients.

So, if you're going to specialize in fitness writing for clients, build a blog on fitness for men, women, or over 40s, etc.

You can then use the steps and advice for building a blog from the first method in this post.

As for finding freelance work, you can visit job boards like:

• ProBlogger
• Writer.Me
• Upwork
• Contena
• LinkedIn

10. Affiliate Marketing (ClickBank)

If you'rewondering if affiliate marketing is worth it, don't because it is worth it for most people.

All you need to do is send traffic to the sales page, and when they purchase, you get a commission.

Here's an excellent step-by-step plan to build an affiliate campaign.

1. Choose a product to promote on ClickBank.
2. Create or pay someone to create a free report (around 5000 words) focusing on one of the main benefit bullet points on the sales page.
3. Purchase a domain name, hosting, and autoresponder.
4. Set up a landing page to highlight your free report (you can use click funnels or check if your autoresponder offers free landing pages (most do)
5. Create (or pay someone) to write 5 emails, a primary download page, and a thank you page.
6. Create Facebook ads and use free traffic methods to send people to your landing page (like learning how to create a poll on Facebook)
7. Consider creating a blog to send traffic to your landing page.

The above is an affiliate funnel where the website visitor signs up for your free report and is taken to the thank you page.

The thank you page tells them to check their email for the free report but then advertises the affiliate product on the same page — this is the visitor's first exposure to your affiliate link.

You then show them the affiliate link in the free report and the 5 emails you have created.

It's all about targeting a specific niche and using the autoresponder to use email marketing to pre-sell them the affiliate product.

11. Become A Coach For Less Than 5000 Dollars

Have you ever liked the idea of becoming a life coach and helping people to overcome a problem?

It's possible; take a course and then build a blog offering life advice to specific people — you make money with online ads (one of the best ways to get paid to advertise) and by providing one-on-one or group coaching sessions.

Becoming a life coachcan be rewarding both mentally and financially.

12. Invest in Your 401k

The final method for making money with 5000 dollars is to invest in your 401k.

I won't talk too much about mutual funds, index funds, penny stocks, bonds, or stock market trading because I'm not a financial advisor. However, I believe that a 401k has a relatively low-risk tolerance.

I think the contribution from a company is around the 3-6% mark (ask them), so it's a decent return on investment.

You can't invest your 5000 dollars into your 401k, but you can use the money to replace the extra money you pay into your 401k.

For example, if you pay an extra $50 per week into your retirement account for your pension plan, the company will reward you with extra money per their contribution percentage. You replace this $50 from the $5000, so it won't be losing money out of your pocket.

Once the 5000 dollars are gone, you can revert to your old payments. However, check the details of this with your company first.

Is Making Money Guaranteed With Any Of These Methods?

No, as already stated, you need to put in the effort, and even then, nobody can give you guarantees on making money. Everyone is different, and results will vary.

I'm not saying this to put you off; that's not my intention. However, it's important to realize that any money-making advice online isn't guaranteed.

What is the fastest Method To Make Money With $5000?

The fastest method for making money with $5000 is either the ‘buy and sell on eBay' or the ‘Blogancing' method.

I'm not saying these are the best money-making methods, but you could quickly see a return on your investment if you do things correctly.

How Long Will It Take To Make Money With 5000 Dollars?

Some of the methods mentioned in this guide can take a few weeks, while others can take a few months or even a few years. So, making extra money online, in general, isn't an overnight success.

For example, niche blogging typically takes around 6-12 months before Google starts to give you some traction in the search engine. It will take this time to build backlinks, gain trust, and build your domain score ranking.

Which Is The Best Money-Making Method?

The best method is the one that appeals to you the most. You will be spending time getting these methods off the ground, so choosing one that you'll enjoy doing is the best method for you.

Some of the other ways to invest 5,000 that we didn't even get into with this list are: stock market, exchange traded funds, mutual funds, opening a high yield savings account, and lots more.

Final Thoughts On How To Make Money With 5000 Dollars

You now know how to make money with 5000 dollars.

The 12 methods in this article are genuine and have provided many people with income for many years.

There's a famous saying in the internet marketing world: ‘you won't have any success if you don't take action' — it's pretty corny, but it's true!

Take action, work hard, and see where it takes you.

Good luck.