New Challenge - Double Your Money!

nat21luv

£29.85 on one poll, how you getting on fairy?

fairyclicks

DeanMB wrote: »

That's definitely an option, but I think I want a change. I've stuck with the cameras for a couple of weeks now and sales are starting to get a bit slow, however I've only really been selling to friends on Facebook etc. Maybe I should look to sell on ebay, which is where I find most of my stock.

Any ideas for other methods? I've seen you mention that you lend on zopa, is that a good option for me?

Zopa is an option for anyone really i think, however it does take time to get a return as you have to wait for the repayments to be made. I have been lending on there for about 4 or 5 years now and think it is great. I started off with £10 lol! I have paid some in and withdrawn some too over the years but have made quite a bit in interest!

nat21luv wrote: »

£29.85 on one poll, how you getting on fairy?

Ooooh i'm on £29.65......you sneaked ahead of me again LOL!

nat21luv

Just did a survey that took me over £30...£30.15 I can see the finish line ahead

Sold some shoes for £17 that I bought for £2 and I've bought a snazzy holdall for my jollys. I promised myself that I had to make the money to buy it rather than use my wages/savings. Job done

DeanMB

fairyclicks wrote: »

Zopa is an option for anyone really i think, however it does take time to get a return as you have to wait for the repayments to be made. I have been lending on there for about 4 or 5 years now and think it is great. I started off with £10 lol! I have paid some in and withdrawn some too over the years but have made quite a bit in interest!

Thanks, it sounds like it could be an option then. If I were to stick my £40 into a zopa account, how long should it roughly take me to double that money? At the moment I could probably do it in about a month, but that's something that takes quite a lot of effort so if I can do it passively through zopa then surely that's a good thing.

fairyclicks

DeanMB wrote: »

Thanks, it sounds like it could be an option then. If I were to stick my £40 into a zopa account, how long should it roughly take me to double that money? At the moment I could probably do it in about a month, but that's something that takes quite a lot of effort so if I can do it passively through zopa then surely that's a good thing.

it's hard to say exactly as the interest rates are always changing, however the highest rate I have got on there is 12% and the loan terms are 1-3years so it would definitely be quicker to do buying and selling. it might be something worthllooking at once you have money spare? maybe give yourself a float to work with like £50-£100 and anything over that stick into zopa?

DeanMB

Hmm, maybe I need to think of something else then. The idea of a £100 float with the excess going on zopa does sound good though.

Any ideas of things to do to get me to that £100 mark other than buying and selling? I've got some stock that is selling quite slowly, so I'll try to get that shifted which should leave me with around £50 to work with.

fairyclicks

DeanMB wrote: »

Hmm, maybe I need to think of something else then. The idea of a £100 float with the excess going on zopa does sound good though.

Any ideas of things to do to get me to that £100 mark other than buying and selling? I've got some stock that is selling quite slowly, so I'll try to get that shifted which should leave me with around £50 to work with.

I do swagbucks which usually gives me an extra £5-£10 per week - i can send you some info on how to earn if you want? Also saving £1+ per day by being thrifty about things works well for me too. I'm not doing much else at the minute cos i have no steady internet access. Other things you could look at though are mystery shopping, writing reviews, other surveys sites, using cash back sites.....i will prob think of more later

DeanMB

fairyclicks wrote: »

I do swagbucks which usually gives me an extra £5-£10 per week - i can send you some info on how to earn if you want? Also saving £1+ per day by being thrifty about things works well for me too. I'm not doing much else at the minute cos i have no steady internet access. Other things you could look at though are mystery shopping, writing reviews, other surveys sites, using cash back sites.....i will prob think of more later

Go for it, it can't help to get some tips about using swagbucks properly. I've never really been into those sites though, I get a bit bored when the payout limits seem so far away.

kendall17

Just read the thread, I started out with £50 on 26/2/13, bought a few things at auction, mainly printers for ridiculous prices like 25p each, tested them and found 9/15 worked, so sold them on at £20 each. (They were mainly ex displays from Costco and the likes). I have since caught the bug, cannot keep me away from auctions and profiteering. I have turned over c£900 and gross profit in the region of £500. I use https://www.i-bidder.com and TLH Auctioneers or Shepherds auctions but there are plenty of auctions across the country for people to get involved in. You'd be suprised at the prices some things go for!

fairyclicks

Wow thats great kendall i am looking at some local auctions but not been to any yet!

I was out yesterday buying some new stock for doubling which is a bit naughty cos i told myself i wasn't buying anything more until i sold the first lot. Its all a learning curve at the minute for me and so i'm trying to check out prices to buy at and of course i then see things i think will sell and its hard to pass up LOL!

I have sold some more bits and bobs as well but not added them to my spreadsheet yet. With the latest purchases i think i'm still out of pocket at the minute, but its starting to even up and have a lot of stuff to sell yet so profit is on the horizon I just have to stop buying!!!!

Right have done my spreadsheet updates to include all listing fees (inc those not sold yet), paypal etc

So far i have:

purchased 53 items for £120.02
sold 9 items for £77.81 (after fees)

leaving me with 44 items and £42.21 to make before i'm in profit,
£162.23 to make for double money target.