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10 Businesses You Can Start with under 100 Dollars

10 Businesses You Can Start with under 100 Dollars

Ask The Entrepreneurs is a regular series where members of those involved in the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives in the areas of management, communication, business, or life in general.

Here’s the question posed in this edition of Ask The Entrepreneurs:

What is one type of business that an aspiring entrepreneur could create with just $100 in their pocket?

1. Teaching

Shaun King

    What are you really good at? What do you love to do? For $100 or less, you could easily start a business teaching people how to excel at your greatest passion. I find that most of us are much better at one or two things than we ever give ourselves credit for. What we lack is the confidence to start a business based on our passions, but most great businesses start that way!

    Shaun King, HopeMob

    2. Freelancing

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    Elizabeth Saunders

      Without even having a website, you can find freelance work through companies like Elance.com. If you have skills in programming, writing, design, or editing, you can make money with little to no initial financial investment.

      Elizabeth Saunders, Real Life E®

      3. Consulting

      Andrew Schrage

        Choose an industry in which you’re well-versed and start a consulting business with a blog. You can purchase a domain name for as little as $10. Get some inexpensive business cards printed up and open free accounts on social media websites. Post relevant content on your blog and social media accounts, network with other professionals via Meetup.com, and watch your business grow.

        Andrew Schrage, Money Crashers Personal Finance

        4. Managing Web Design

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        Matt Wilson

          You don’t have to be a web designer to have a web design business. Find people who want websites built and then find someone who will design them for cheaper than you’ve quoted your client. You make a margin for connecting the clients with the designers or managing the projects.

          Matt Wilson, Under30Media

          5. Vlogging on YouTube

          Erin Blaskie

            Now that you don’t need to be a partner to earn ad revenue on YouTube, anyone can start a channel, make videos regularly, and profit from them for a very limited investment. Don’t assume you need an expensive camera, either. Vlogging can easily be done using your computer’s built-in camera or a smartphone camera. Start vlogging regularly and see profits in your account.

            Erin Blaskie, BSETC

            6. Creating Information Products

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            Thursday-Bram 2

              If you’ve got expertise in a given niche, you can create an information product, like an eBook, with minimal cash. It will take plenty of time, of course, but you can technically create a whole business without expenses if you set up a free website. Personally, I’d spring for a domain name and hosting, along with a little graphic design work.

              Thursday Bram, Hyper Modern Consulting

              7. Blogging

              Robert-J.-Moore

                Some bloggers make a great living by writing strong content and selling ads. For well under $100, you can start your own blog online and build a reader base.

                Robert J. Moore, RJMetrics

                8. Programming

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                Abby Ross

                  Invest in a Udemy class to learn how to program. I recommend “Become a Web Developer from Scratch” – with a Facebook Offers coupon, it’s only $99. From there, the options are endless.

                  Abby Ross, Blueye Creative

                  9. Domain Name Buying

                  Aaron Pitman

                    An entrepreneur could start buying generic domain names for $10 and sell them to companies that could benefit from them. I started out this way, with 10 names at $10 each. This turned into a multimillion-dollar company that now develops domain names into living, breathing companies.

                    Aaron Pitman, API Domain Investments

                    10. Flipping Websites

                    Matt Mickiewicz

                      With a little bit of technical knowledge or some WordPress skills, it’s possible to build niche content blogs for a few dollars, and then “flip” them to a buyer for a quick, tidy profit. Blogs that generate a few dollars in revenue through something like Google AdSense or Commission Junction are particularly easy to sell through online marketplaces and forums.

                      Matt Mickiewicz, Flippa and 99designs

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                      Published on July 4, 2018

                      Top 10 Recommendations on Money Management Apps

                      Top 10 Recommendations on Money Management Apps

                      Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

                      The solution is simple, save more and spend less. But, we all know it’s easier said than done.

                      One problem is finding quality apps that save you time and money, and aren’t just hype.

                      Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

                      1. Personal Capital

                        When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

                        Here are some of its main features:

                        • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
                        • Discover hidden fees and how much they’re affecting your retirement plan
                        • Wealth management for investors requiring a long-term strategy

                        With Personal you’re free to track your expenses and net worth.

                        Available for: iOS and Android

                        2. Mint

                          If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

                          Here are some of its main features:

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                          • Effortlessly track all your bills and balances in one dashboard
                          • Categorized expenses to understand where you spend your money
                          • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

                          Feel at ease with managing your money by a reputable company that isn’t going anywhere.

                          Available for: iOS and Android

                          3. YNAB

                            Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

                            Here are some of its main features:

                            • Easily sync all bank accounts in one place
                            • Visually see your debt paying progress with eye-catching charts and notifications
                            • Customized categories setting saving goals

                            The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

                            Available for: iOS and Android

                            4. Wealthfront

                              Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

                              Here are some of its main features:

                              • Variety of investment account options including IRA, Roth IRA, and more
                              • Your portfolio composed of 7 different asset classes
                              • Automatically rebalanced portfolio
                              • Daily tax loss harvesting

                              Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

                              Available for: iOS and Android

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                              5. Clarity Money

                                If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

                                Here are some of its main features:

                                • Easily cancel subscriptions with one click
                                • Synchronize bank accounts fast
                                • Transfer money effortlessly between different accounts

                                Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

                                Available for: iOS and Android

                                6. Acorns

                                  What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

                                  Here are some of its main features:

                                  • Automatic contribution option
                                  • Customized portfolio tailored to your needs
                                  • Low management fees ranging from $1-$2 per month

                                  Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

                                  Available for: iOS and Android

                                  7. Albert

                                    Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                                    Here are some of its main features:

                                    • Receive notifications for overpayments, hidden fees, and low balances
                                    • An Automatic budget that’s built around your spending and income
                                    • Easily track debt and set new financial goals

                                    While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                                    Available for: iOS

                                    8. Prism

                                      Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                                      Here are some of its main features:

                                      • View all your account balances in one glance
                                      • Bill due dates are automatically pulled and tracked
                                      • Receive early reminders for upcoming bills

                                      If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                                      Available for: iOS, Android, Windows, Amazon

                                      9. Mvelopes

                                        Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                                        Here are some of its main features:

                                        • Connect unlimited bank accounts
                                        • Real-time budgeting with auto transaction syncing
                                        • Low monthly $4 fee or $40 annual

                                        Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                                        Available for: iOS and Android

                                        10. Wallaby

                                          Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                                          Here are some of its main features:

                                          • Automatic recommendations for the best credit card to use for each transaction
                                          • A friendly user interface, displaying credit cards with their corresponding images
                                          • Free to use

                                          If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                                          Available for: iOS and Android

                                          Take control of your finances and experience financial freedom

                                          Picture yourself staying on budget and saving more money than you’d ever imagined.

                                          It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                                          You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                                          Featured photo credit: Pexels via pexels.com

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