So you want to know how to double your money? Easy, just fold it in half! Sorry, I couldn’t resist. There are actually a handful of ways in doubling your money easily – some are easier than others, some are legal and others, not so much. Hopefully though, the ideas presented below will help you with how to double your money. (Note: I can’t be held responsible if you actually take part in any of the illegal ways I talk about below.)
How To Double Your Money – 10 Ways
#1. Get Another Job
This option isn’t a get rich quick scheme. It’s going to take you time to double your money by working another job. But, it can be done. Don’t settle for a low paying retail job. Instead, think outside the box. What skills do you have that can translate into a higher pay?
For example, maybe you are a great painter. You could advertise your painting services on nights and weekends and charge $50 per room. Or maybe you work in recruiting and know what a great resume looks like. You can advertise that you will review, edit and provide feedback on resumes.
#2. Sell Drugs
Obviously, this one isn’t legal. Selling drugs will make you some money, however, the real money is when you move up the ladder and become distributors and leader of the cartel. When you control the entire operation, you will make tons of money. Of course, with this money will come the risk of your life and the risk of imprisonment for a very, very long time.
#3. Save For Retirement
Saving for retirement is probably the easiest way to double your money. Most employers offer to match what you contribute to your 401k plan. If they match 5% and you earn $50,000 a year, that is $2,500 in free money just by contributing to your 401k plan.
Just how much will your savings grow over your working career? Play around with the calculator below to find out!
#4. Go To Yard/Garage Sales
If you attend yard and garage sales, you can easily double your money or more. Just find items that are in good condition that have a demand. After you buy them, go and sell the items online.
I did this in college and made a good amount of money. When you first start out, it will be tough knowing what to buy. Stick with things you know. If you know electronics, focus on that.
Be sure to also do your research online. Scour eBay and other sites to see what is selling and what is not, and for how much. Knowing these things will go a long way to providing maximum profit.
#5. Turn A Hobby Into Income
Instead of getting another job, you can turn your hobbies into an income. Do you enjoy writing? You can become a freelance writer and earn $100 every time you write an article. Or you could start your own blog and earn an income off of it.
Maybe you are good with graphics. You could sell your service on a site like Fiverr and make a good amount of money there. Just make a list of the things you enjoy doing and then see if there is a market for it.