We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Doubling £10.00

Hello Everyone!

I've been lurking on this board for a good while now trying to come up with a way to earn some money. I'm out of work at the moment but i'm not a person who can just sit at home and do nothing...with jobs being few and far between at the moment (Especially in Spain where I live) I've decided to take matters into my own hands and try and make some money off my own back.

I've read a few threads abour doubling money and how much you can earn if you keep doubling.

So heres the plan (I'd love more people to give it a go, i've even got my mum on board with it!)
Invest £10.00 into something, anything you think you can double your money on whether that be carboot sale ebay crafting...anything the world is your lobster! You have a month then to double your £10.00 to £20.00 then after that you need to double that £20 into £40 and so on... who thinks its a good idea? :T
Petabear loves MSE! :)

Comments

  • lincroft1710
    lincroft1710 Posts: 19,327 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The idea isn't new and although in theory is excellent, in practice may be difficult especially when you want to find something that you can buy at £1280 and sell at £2560 or thereabouts, which is where you would be in 8 months. However if it did work, you would be a millionaire in about 2 years!
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • podperson
    podperson Posts: 3,125 Forumite
    Ninth Anniversary 1,000 Posts
    Yup you would need to double up 17 times to make a million - doesn't sound so hard put that way does it? :) You might want to look at your month for each timescale - I'm sure you could double £10 much quicker then that but when you start getting higher amounts it might take longer. Do you have any ideas yet fot your first one?
  • 1st ones dead simple, lots of supermarkets are selling 4 or 5 packs of chocolate bars such as mars, twix, wispa etc for a £1 (so 20-25p each) resell at work for 50p each which is less than most shops sell them for and you double your money quite easily, unless you start eating away at your investment (lol)
  • soolin
    soolin Posts: 74,879 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Just remember that as soon as you buy with an intention to resell you are a business.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.8K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.4K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.