The $20 Challenge: I am going to do it!

I took this idea directly from this Get Rich Slowly guest post. I love the concept and am going to give it a try. At worst I stand to learn a good bit about various things and my maximum cost is $20.00!

For those not wanting to dig through the article here is the idea and rules:

  • You and a friend (or partner/spouse/significant other) each take $20 to invest with the idea of making money. You can buy and resell things, invest the money, etc.
  • Rule 1: You cannot add new money.
  • Rule 2: You can reinvest earnings.
  • Rule 3: It is ok to sell things you already have to increase the investment.
  • Rule 4: The challenge is for 365 days.
That is it! I have a few ideas (buying at yard sales and selling, etc.) of what I want to do to see if I can come out on top. I have had some ideas for making money on the side floating in my head. This is my chance to try them cheaply!

I will post regular updates of my progress.