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