How to Turn $20 Into $2000: Try These 5 EASY Methods (2023)

Struggling to grow your limited funds?

Wish you could take that $20 in your wallet and turn it into a small fortune?

This guide reveals the proven money-making methods that let you transform small changes into thousands.

How to Turn $20 Into $2000?
How to Turn $20 Into $2000?

Read on to learn the realistic techniques for how to turn $20 into $2000.

Techniques for Turning $20 Into $2000

While turning $20 into $2000 takes effort and patience, it’s feasible through proven money-making techniques.

By incrementally increasing your earnings through various income streams, what begins as a modest investment or task payment can snowball into a nice financial return over time.

The key is consistency, discipline, and diversifying your efforts across different money-making methods.

Method 1: Invest in Stocks

One of the most effective ways to grow your money is through stock market investing.

While full-service brokerages often require higher minimum investments, many online discount brokers now allow you to get started investing with very little money.

Invest in Stocks
Invest in Stocks

For example, you could open a Roth IRA account with a brokerage like Fidelity, Vanguard, or Charles Schwab.

Most IRA accounts only require a minimum deposit of $1 to get started.

You could then invest your initial $20 deposit into a low-cost stock index fund, like the Vanguard S&P 500 Index Fund (VFIAX) or Fidelity Zero Total Market Index Fund (FZROX).

Initial InvestmentTimeframeRate of ReturnTotal Return
$205 years7%$1,967

The key is consistency. By contributing small amounts whenever you can and reinvesting any earnings, your portfolio can steadily grow.

If you contribute $20 per month and earn an average 7% annual return, after 5 years your account could grow to nearly $2000.

The power of compound interest allows small amounts to snowball into much larger sums over time.

It’s important to keep contributing regularly over time versus trying to time the market.

Also, note the tax advantages of using a Roth IRA account versus a regular taxable brokerage account. Setting up automated contributions helps ensure consistency.

Recommended brokerages with low account minimums and fees include Fidelity, Vanguard, Charles Schwab, and Betterment.

Method 2: Resell Items Online

Flipping items for resale online has become a lucrative side hustle.

While finding good profit margins takes research and effort, almost anyone can get started reselling.

Resell Items Online
Resell Items Online

Start by looking for valuable items at yard sales, thrift stores, clearance racks, liquidation websites, or even around your own home.

Key categories with resale potential include electronics, designer fashion and accessories, vintage collectibles, sealed toys and games, and niche hobby items.

ItemPurchase PriceResale PriceProfit Per Item
Designer shoes$5$50$45
Vintage electronics$10$60$50
Sealed toys/games$15$100$85

Do thorough research on sites like eBay and Amazon to gauge current resale prices for the items you find. Use your $20 to purchase inventory with a large spread between what you pay and the going resale rate.

Inspect items closely before purchasing to spot any flaws or defects.

Take attractive photos and write engaging descriptions when listing items for sale on platforms like eBay, Facebook Marketplace, Poshmark, and Craigslist.

As items sell, reinvest your profits into more inventory. Stay patient, focused, and persistent. In time, small margins can add up to big earnings.

Consider scaling up over time by utilizing Fulfillment by Amazon or hiring virtual assistants.

Got more money? Try these…

Method 3: Take Online Surveys

Completing online surveys in your spare time provides an easy, flexible way to earn incremental money that adds up.

Online Surveys
Online Surveys

Dozens of research companies and marketplaces like Swagbucks, Survey Junkie, InboxDollars, and Vindale Research pay people to share opinions on products, take market research surveys, or test concepts.

Time Spent# of SurveysEarnings Per SurveyTotal Earnings
10 hrs/week25$2$50/week
20 hrs/week50$2$100/week

Most surveys pay between $0.50 to $5.00 each, with some opportunities earning over $30 for more extensive surveys. For most sites, you can cash out earnings starting at just $5 to $25.

Sign up for as many legitimate paid survey sites as you can find. Take surveys whenever you have free time.

Cash out your earnings frequently instead of letting them accumulate over time. Earnings from surveys can easily add up to hundreds of dollars per year, eventually reaching $2000 with consistent participation.

Pro tip: Never pay a fee just to sign up for paid surveys. Legitimate survey sites will not charge you.

Compare sites like Swagbucks vs SurveyJunkie to focus your efforts on the best opportunities.

Method 4: Sign Up for Promotions/Bonuses

Companies often offer signup promotions and bonuses to attract new customers.

Take advantage by signing up for bank accounts, credit cards, subscription services, apps, and websites that offer cash incentives.

Sign Up for Promotions/Bonuses
Sign Up for Promotions/Bonuses

Review sites like Doctor of Credit, BonusFinder, and Slickdeals to find the latest bonus offers across many categories.

Focus on those with the lowest requirements relative to the payout amount.

OfferRequirementsBonus
New checking account$250 deposit for 60 days$200
New credit card$500 spend in 3 mo.$150
Subscription app trialFree trial signup$20

Work towards meeting the minimum spending or deposit requirements through your normal budgeted spending.

Avoid going into debt just to earn bonuses. Read all terms carefully to ensure the offers will be worth your effort.

Treat each bonus like a short-term side hustle. Collect the payout after requirements are met, then move on to the next offer.

Over time, signup bonuses can easily accumulate to thousands in extra cash.

Method 5: Freelance Skills Online

Thousands of companies hire freelancers to handle projects in areas like writing, graphic design, web development, data entry, virtual assistance, and more.

No matter your skill set, you can likely find paid freelance gigs suited to what you do best.

Freelance Skills Online
Freelance Skills Online

Check sites like Upwork, Fiverr, Flexjobs, SolidGigs, Toptal, and Freelancer to browse open freelance job listings in your specialty. Sign up for an attractive profile highlighting your experience.

Project TypeRate# of ProjectsEarnings
Articles$50 each10 per month$500/month
Graphic design$150 each5 per month$750/month
Web development$300 each3 per month$900/month

Bid competitively on entry-level jobs to build up your reviews and portfolio.

Deliver excellent work while communicating professionally. In time you can increase your rates and take on more work to scale up your earnings.

Consider starting with fixed-price jobs versus hourly contracts to limit unknowns.

Expand your service offerings over time as your skills grow. The key is building a reputation for reliable, quality work.

Final Thoughts

Turning a small amount of cash into a much larger sum takes consistent effort over time.

But through strategic investing, reselling, paid online tasks, promotions, and freelancing, growing $20 to $2000 is an achievable milestone along your financial journey.

Stay focused on small gains that compound into big payoffs.

FAQs: How to Turn $20 Into $2000

What Are the Fastest Ways to Turn $20 Into $2000?

The fastest ways are signing up for multiple promotional bonuses, taking advantage of signup offers, and reselling items sourced from clearance sales or liquidations.

What Risks Are Involved With Trying to Turn $20 Into $2000?

Potential risks include buying inventory that doesn’t resell at a profit, losing money on unsuccessful investments, failing to meet signup bonus requirements, and not vetting freelance clients properly.

How Long Would It Take To Turn $20 Into $2000?

Realistically it would take 1-2 years of consistent effort across multiple income streams like reselling, freelancing, and investing to turn $20 into $2000.

Is It Possible to Turn $20 Into $2000 in a Week/Month?

It’s extremely unlikely to turn $20 into $2000 in a week or month unless you get very lucky investing or reselling a single high-profit item.

What Skills Are Needed to Turn $20 Into $2000?

Key skills include research, financial planning, budgeting, basic investing, negotiation, marketing, time management, communication, and perseverance.

How Much Time per Day Would I Need to Invest to Turn $20 Into $2000?

Expect to spend 1-3 hours per day actively working on income streams like surveys, reselling, freelancing, and promotions to generate enough income.

What Are the Best Items to Resell Online to Turn $20 Into $2000?

Top resale items include electronics, video games, designer goods, antiques, jewelry, trading cards, and collectibles with high demand and profit margins.

I'm Rahul, a money-making expert who helps others make money online through survey sites, side hustles, the gig economy, and more. On Moneyfreed, I share actionable tips and tricks to help you create a flexible and profitable online income stream.

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