$2 to $1,000,000 Updates

Doubling Our Money Challenge: $30 into $60

How we Turned $30 into $60

Here on Aspiring Millionaire, we are doing a challenge to turn $2 into $1,000,000 by doubling our money. Meaning, find a way to turn $2 into $4 then $4 into $8 then $8 into $16 and so on. Eventually, it is over $1,000,000.

My first flip was buying a book for $2 and selling it for $8. Next, it was a dress and 2 books (the dress was $7 and books 50c each) sold for $30 total. This brings us to now, how I turned $30 into $60.

Disclosure: this post may include affiliate links for products and services we personally use.

Brainstorming Ideas to Double My Money

I was discussing with my sister how to turn $30 into $60. Most of the items I have flipped previously were small items e.g clothing and books around $2 to $5 or big items such as websites or cars ranging in price from $500 to $2,000.

This in-between amount had me stumped. As I thought about it more, I realised my challenge wasn’t necessarily only about buying and reselling. It was about doubling the money, which gave me a few ideas I plan to implement later.

Buying items to resell is one option which I have previously made over $10,000 in a month doing. However, creating products to sell on Etsy, books on Amazon and digital products are all options to double the money too. I quickly realised there are a lot of ways I can double this money.

A Bonus Offer with Referrals to Generate $60

While brainstorming, I got a few amazing offers that I knew I could use for this and it worked within 24 hours. I wrote this post sharing bonus offers worth over $500, including some straight-up cash. The post was free for me to write and used refer a friend links which anyone can do.

Then Facebook offered me a $30 credit if I spent $15 on ads. So I set one up using that post to promote the offer and aim for higher conversions. Some of the offers I won’t know if I made any money on them until next month but other offers were instant.

Within 24 hours, I had an extra $60 in bonus credit from the bank and yet I had only actually spent $3 at that point. The promotion is set to run for 1 week. I can’t wait to see how much is actually generated by it. Any extra will be going to investments and saving for a course.

Bonus Cash For You

What were the bonuses I promoted? I’ll share them all here as well as in the post I linked to above to make it easy for you.

$100 from ING

I’ve banked with ING for years and they’ve been great. Right now, they have a bonus $100 for new customers. Here is what you need to do:

  1. Open an everyday account and put the promo code CNW116 in the promo box
  2. Deposit $1,000 into the account
  3. Make 5 settled transactions
  4. Open a Savings Maximiser
  5. Make a deposit into the Savings Maximiser

Then you get your $100 the following month. You only have until July 31, 2021 to do it. And you MUST use the code CNW116 to get the $100.

$20 from 86 400 Instantly!

While $100 from ING is great, this is an instant $20 for you. 86 400 is an online only bank I started using last year to test it out. They are fee free, easy to use and great customer service. You can join for free in minutes and get $20 for doing it. Use the code S7VL6WF when you join free here.

$5 from Up

Another bank I have used in Australia and overseas which gives you an instant bonus. Get your $5 for joining in minutes and have fun with fee free banking with them too.

$10 BitCoin From CoinSpot

If you have ever been curious about cryptocurrency but too scared to test it out, sign up to CoinSpot for free and get $10 free BitCoin. You can see how it progresses, add a little e.g. $10 and watch your reactions to the ups and downs. Doing it this way is almost risk-free since you got $10 worth for free once you make your first deposit.

$10 Bonus to Invest with Spaceship

Spaceship is a great option for micro-investing to see how comfortable you are with it. Use the code S8518DLV20 here to get $10 free when you deposit $5 within 14 days. It is an easy way to test how you feel about investing in shares.

$5 Bonus to Invest with Raiz

Raiz is another micro-investing app but they charge a monthly fee. Get $5 free when you join free here and invest as little as $5. Personally, I use Spaceship more.

$20 Cash Back

Shopback and CashRewards are two of my favourite cash back apps/sites. Plus BOTH of them offer a $10 bonus. All you need to do is sign up to each of them, then use their cashback options when you are shopping online. Spend over $20 online and you get a bonus $10 cashback. Use both sites and get a total of $20.

Sign up to CashRewards for free here to get your $10 bonus. And Shopback here to get $10 from them.

How Did I Turn $30 Into $60 With These Offers?

As mentioned at the top of the post, this site uses affiliate links for products and services I use. This means, when I refer people I get a payment. Some of these match the offer I can give to others so we both make money. Because of the incentive from Facebook, I had the opportunity to promote these a lot with bonus money, resulting in a quick doubling of $30.

I spent $30 on ads and promoted refer a friend programs to get more than $60 in cash.

How Will I Turn $60 Into $120?

This is my next step and while I haven’t fully decided, I have some ideas. The whole way along in this challenge I will remain open to opportunities so won’t necessarily have it all planned out. If I find something I can flip quickly I will do that, otherwise, I might try one of the other options e.g. Etsy, Amazon or similar.

Get All the Updates About This Challenge

Whenever we double our money, you can get notified about how we did it along with other ways to make and save money.

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