£20 challenge - WWYD to double your money in a month?

jiras410

Interesting thread. I also spend £16 a month on lottery and the most i won was £50 once. And the odd £5. So if there was a way of doubling £20 a month I'm all for it.
I do the usual try me frees, cashback, surveys etc, i have also done bootsales but find that it is more hassle and cost in the end.
I used to do lots of crafting as a hobby and have tons of handmade items at home (cards, jewellery, stationary, frames etc) that i just made for my own enjoyment but when it comes to selling it costs fees (at fairs or online) and often does not even get me back the material costs. So i have just given up on those sort of things as i put in more time and effort than i get back in the end.
Unless i missed a trick and any suggestions are more than welcome.

Wizzbang

There is no way to get rich quick and anyone who suggests otherwise is lying!

If you are prepared to take a gamble on something, then make sure you do plenty of research and certainly don't take the advice of one poster on this forum. No offence to them, but you don't know who they are and they could be recommending anything! I would check out Martin's own guides for more reliable information. Some people take a gamble with matched betting, but it takes a lot of research and learning to understand. There is a thread on these forums though which is full of experienced people who'd be happy to advise.

Kayalana99

I've been thinking about this and I think this challenge is a lot harder then it seems!!! It would be easy to make £20 in a month, survey sites, selling bits around the house..cleaning cars..mowing lawns..

But to take that £20...and turn it into £40? I think best bet would be to hit car boot sales and charity shops but again I think you need a good eye and a certain skill set to know what would sell etc.

You could look at investing but again that is a long term reward not short term... you could look at starting a business with £20..that's doable, you can make £40 easily depending what you do but again it's not really taking £20 and turning it into £40 it's starting a business which you could make £40....

Perhaps a better idea would be to find somewhere you can invest that money each month and start a bit of an unneeded saving fund?

[Deleted User]

Semi-off topic, but this thread has given me an idea. As I usually make about £20-25 a month with online surveys, I could invest this amount in silver coins, as long as the price for a 1oz coins stays under the £25 bracket. Forgive the interruption.

NicNocs

How about using some of the money to buy cake ingredients, make cakes and then sell them making an easy profit?

Or, buy a bucket and sponge with the money and then offer to wash cars....easily making your money buck and more!

[Deleted User]

NicNocs wrote: »

How about using some of the money to buy cake ingredients, make cakes and then sell them making an easy profit?

Or, buy a bucket and sponge with the money and then offer to wash cars....easily making your money buck and more!

Easy to say that, but unless you sell and cater for a couple of friends, any real business activity [edit: of that price range] requires an overhead that makes it not very worthwhile, eg tax filling, health and safety, accountancy.

NicNocs

ciaccino wrote: »

Easy to say that, but unless you sell and cater for a couple of friends, any real business activity [edit: of that price range] requires an overhead that makes it not very worthwhile, eg tax filling, health and safety, accountancy.

I thought the OP was just trying to double her £20 ?!

Wizzbang

NicNocs wrote: »

I thought the OP was just trying to double her £20 ?!

The original poster will be done by Trading Standards if she starts selling any kind of food stuff, without being registered and having the proper food hygiene certs etc. Aside from HMRC doing her for not being a registered business. No-one is going to pay for cake on a regular basis when they can buy it so cheap from the supermarket or make their own!