Best Ways to make 20 dollars into 200
It is very much possible to turn a small amount of money into much more money through the power of compounding interest. To illustrate this, let’s look at the story of an imaginary small business owner.
Compounding, or reinvesting profits earned over time, offers the potential for much more growth than when profits are spent elsewhere.
The power of compounding can be applied to many investments, including stocks, bonds, real estate, and small businesses.
In addition to reinvesting profits, investors also benefit from regularly contributing to investment portfolios.
How to turn 20 dollars into 200?
- Certificates of Deposit at a Credit Union. The growth is very slow, sometimes less than the inflation rate, but it’s highly reliable.
- Watch the gold market and buy gold every time the price drops significantly & sell it every time the price rises significantly, always rolling your profit into more gold purchases. Again, it takes time.
- Buy $20 worth of gasoline, then canvass the neighborhood offering to go buy peoples’ weekly groceries for them for a small price per trip. Plan your trip such that you’re doing several peoples’ shopping at the same time, in one trip.
- Borrow a lawn mower and buy $20 worth of gasoline and mow peoples’ lawns for them for a price. Similarly, buy a snow shovel and shovel peoples’ sidewalks for a price. There’s actually a very good return from doing this.
- Buy $20 worth of bulk produce from a local farmer and set up a tiny farm stand along the road (where it’s legal to do so), selling that produce for a profit.
- Rent a cow, let it graze on your property, and sell the milk.
- Buy a few chickens, let them free-range on your property, and sell the eggs.
