15 Best Short Term Investments to Grow Your Money Fast in 2023

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Welcome to the world of short-term investments! If you’re looking to make your money grow fast in 2023, you’ve come to the right place. In this article, we will explore the 15 best short-term investments that can help you achieve your financial goals.

Short-term investments are an excellent way to maximize your returns in a shorter period. Whether you’re saving for a down payment on a house, planning a dream vacation, or looking to build an emergency fund, these investments can provide the boost you need.

But with a vast array of options available, it’s crucial to choose the right investment strategy that aligns with your goals and risk tolerance. This is where our expertly curated list comes in handy.

Let’s dive into the factors you should consider when choosing short-term investments.

Factors to Consider When Choosing Short Term Investments

When it comes to short-term investments, it’s essential to consider a few key factors before making your decision. Here are some factors to keep in mind:

  1. Risk Tolerance: Understand your risk tolerance level. Short-term investments typically carry less risk than long-term investments, but it’s still important to assess your comfort level with potential fluctuations in the market.
  2. Time Horizon: Determine the duration for which you can invest your money. Short-term investments are designed to generate returns within a few months to a few years, so it’s crucial to align your investment strategy with your time horizon.
  3. Liquidity: Consider how quickly you can access your funds when needed. Short-term investments should provide liquidity, allowing you to easily withdraw your money without penalties or long waiting periods.

Now that you have a better understanding of the factors to consider, let’s explore the 15 best short-term investments.

High-Yield Savings Accounts

High-yield savings accounts are an excellent option for individuals looking for a safe and secure place to park their money in the short term. These accounts offer higher interest rates compared to traditional savings accounts, allowing your money to grow faster.

With most high-yield savings accounts, you can access your funds at any time, making them a flexible choice for short-term goals. However, it’s important to note that interest rates may fluctuate, so it’s essential to monitor the market and choose a reputable bank.

Certificates of Deposit (CDs)

Certificates of Deposit, commonly known as CDs, are another popular short-term investment option. CDs are time deposits offered by banks, where you agree to keep your money invested for a specific period, usually ranging from a few months to a few years.

CDs offer higher interest rates than traditional savings accounts, and the longer the term, the higher the interest rate. However, keep in mind that CDs come with a penalty for early withdrawal, so it’s crucial to choose a term that aligns with your financial goals and liquidity needs.

Treasury Bills

Treasury bills, also known as T-bills, are short-term debt instruments issued by the government. These investments are considered one of the safest options available, as they are backed by the full faith and credit of the government.

T-bills have maturities ranging from a few days to a few months, making them ideal for short-term investments. They are typically sold at a discount and redeemed at face value upon maturity, allowing investors to earn a return in a short span of time.

Money Market Accounts

Money market accounts are interest-bearing accounts offered by banks and other financial institutions. These accounts typically offer higher interest rates compared to regular savings accounts and provide easy access to your funds through checks, debit cards, or electronic transfers.

Money market accounts invest in short-term, low-risk securities such as Treasury bills, certificates of deposit, and commercial paper. They are considered a safe and liquid short-term investment option, suitable for individuals looking for stability and moderate returns.

Peer-to-Peer Lending

Peer-to-peer lending platforms have gained significant popularity in recent years as an alternative investment option. These platforms connect borrowers with lenders, cutting out traditional financial institutions.

As a lender, you can invest your money by lending it to individuals or businesses, earning interest on the loan amount. Peer-to-peer lending offers the potential for higher returns compared to traditional savings accounts, but it’s important to assess the creditworthiness of borrowers and diversify your investments.

Corporate Bonds

Corporate bonds are debt securities issued by corporations to raise capital. These bonds typically have a maturity period of one to ten years, making them suitable for short-term investments.

When you invest in corporate bonds, you are essentially lending money to the issuing corporation in exchange for periodic interest payments and the return of the principal amount upon maturity. It’s important to research the creditworthiness of the issuing corporation before investing in corporate bonds.

Real Estate Investment Trusts (REITs)

Real Estate Investment Trusts, commonly known as REITs, allow individuals to invest in real estate without the need for direct ownership. REITs are companies that own, operate, or finance income-generating real estate properties.

By investing in REITs, you can earn returns through rental income and capital appreciation. REITs often distribute a significant portion of their income as dividends, making them an attractive option for investors looking for regular income in the short term.

Stock Market Investments – Day Trading and Swing Trading

Investing in the stock market can be an excellent way to grow your money fast, but it requires careful research and analysis. Day trading and swing trading are two strategies that can generate quick profits in the short term.

Day trading involves buying and selling stocks within the same trading day, taking advantage of short-term price fluctuations. Swing trading, on the other hand, involves holding stocks for a few days to a few weeks, capitalizing on medium-term price movements.

Both day trading and swing trading require a deep understanding of the stock market, technical analysis skills, and the ability to manage risk effectively.

Exchange-Traded Funds (ETFs)

Exchange-Traded Funds, or ETFs, are investment funds that trade on stock exchanges like individual stocks. ETFs offer diversification by investing in a wide range of assets, such as stocks, bonds, and commodities.

Investing in ETFs allows you to gain exposure to various markets and sectors, providing potential for growth in the short term. ETFs are also known for their liquidity, as they can be bought and sold throughout the trading day at market prices.

Cryptocurrency Investments

Cryptocurrency investments have gained significant attention in recent years, with Bitcoin and other cryptocurrencies experiencing substantial price appreciation. While investing in cryptocurrencies can be highly volatile and risky, it has the potential for significant returns in the short term.

Before investing in cryptocurrencies, it’s important to understand the underlying technology, market trends, and potential risks. It’s also crucial to diversify your investments and only invest what you can afford to lose.

Diversification Strategies for Short Term Investments

Diversification is a key strategy when it comes to investing. By spreading your investments across different asset classes and sectors, you can reduce risk and increase the potential for returns.

When diversifying your short-term investment portfolio, consider allocating your funds to a mix of low-risk options such as high-yield savings accounts and Treasury bills, as well as higher-risk options such as peer-to-peer lending and stock market investments.

Risks and Considerations for Short Term Investments

While short-term investments offer the potential for quick returns, it’s important to be aware of the risks involved. Here are some key considerations:

  1. Market Volatility: Short-term investments are susceptible to market fluctuations, which can impact the value of your investments. It’s important to assess your risk tolerance and be prepared for potential volatility.
  2. Interest Rate Changes: Interest rates can impact the returns on your short-term investments, especially for fixed-income securities such as CDs and bonds. Stay informed about interest rate trends and adjust your investment strategy accordingly.
  3. Liquidity Risk: Some short-term investments may have restrictions on accessing your funds, such as early withdrawal penalties or longer settlement periods. Consider your liquidity needs and choose investments that align with your cash flow requirements.


In conclusion, short-term investments can be a powerful tool to grow your money fast in 2023. Whether you choose high-yield savings accounts, CDs, T-bills, peer-to-peer lending, or other investment options, it’s essential to consider your goals, risk tolerance, and liquidity needs.

Remember to diversify your portfolio to mitigate risk and stay informed about market trends and interest rate changes. With careful planning and informed decision-making, you can make the most of your short-term investments and achieve your financial goals. Happy investing!

Jamie Fox

Jamie was born on March 15, 1995 in Chicago, Illinois. From a young age, Jamie was fascinated by international finance and the foreign exchange (forex) market. He studied Economics and Finance at the University of Chicago, graduating in 2017. After college, Jamie worked at a hedge fund as a junior analyst, gaining first-hand experience analyzing currency markets. He eventually realized his true passion was educating novice traders on how to profit in forex. In 2020, Jamie started his blog "Forex Trading for the Beginners" to share forex trading tips, strategies, and insights with beginner traders. His engaging writing style and ability to explain complex forex concepts in simple terms quickly gained him a large readership. Over the next decade, Jamie's blog grew into one of the most popular resources for new forex traders worldwide. He expanded his content into training courses and video tutorials. Jamie also became an influential figure on social media, with over 5000 Twitter followers and 3000 YouTube subscribers. Jamie's trading advice emphasizes risk management, developing a trading plan, and avoiding common beginner mistakes. He also frequently collaborates with other successful forex traders to provide readers with a variety of perspectives and strategies. Now based in New York City, Jamie continues to operate "Forex Trading for the Beginners" as a full-time endeavor. Jamie takes pride in helping newcomers avoid losses and achieve forex trading success.

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