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Money Making Challenge

I have discussed the ‘Money Making Challenge’ a little over the last few weeks. Not long ago a reader asked me if I have or would share ways to halve your way to become a millionaire. Since I am not a millionaire yet I had not considered this. I did however do a quick search, read some interesting articles, thought a lot and combining what I read recently with what I have learned on my journey and read in my books I came up with a money making challenge.

So what does the challenge entail?

It will require commitment. It is something which if done completely to the end will result in over $1,000,000. I will be doing it from start to finish with you all. Of course you can opt out at anytime, no one is going to force you to do anything.

Your first step is to find money. You can’t use money you already have, sell something you own to generate cash or anything. You need to find money on the street or something then use that. Why do it this way?

By finding the money it is a risk free challenge. You are not using your own money, thus are less attached to it and less likely to want to use it for other purposes. I’ll share some ways to find money further down.

The next step once you have your money is to double it. Each step is just doubling the last amount. I have discussed doubling before here and how quickly you can get to over $1,000,000 by doing it, but until now I had not fully committed myself to this idea. I tested it a little the other week and was amazed at not only how quickly I found money, but also how easy it was to double it. Of course it gets harder the further you go on, but it is doable.

Based on Australian money our steps would look like this:

Step 1: 5cents
Step 2: 5c – 10 cents
Step 3: 10c – 20cents
Step 4: 20cents – 40cents
Step 5: 40cents – 80cents
Step 6: 80cents – $1.60
Step 7: $1.60 – $3.20
Step 8: $3.20 – $6.40
Step 9: $6.40 – $12.80
Step 10: $12.80 – $25.60
Step 11: $25.60 – $51.20
Step 12: $51.20 – $102.40
Step 13: $102.40 – $204.80
Step 14: $204.80 – $409.60
Step 15: $409.60 – $819.20
Step 16: $819.20 – $1638.40
Step 17: $1638.40 – $3276.80
Step 18: $3276.80 – $6553.60 ($5,000)
Step 19: $6553.60 – $13,107.20 ($10,000)
Step 20: $13,107.20 – $26,214.40 ($20,000)
Step 21: $26,214.40 – $52,428.80 ($40,000)
Step 22: $52,428.80 – $104,857.602 ($80,000)
Step 23: $104,857.60 – $209,715.20 ($160,000)
Step 24: $209,715.20 – $419,430.40 ($320,000)
Step 25: $419,430.40 – $838,860.80 ($640,000)
Step 26: $838,860.80 – $1,677,721.60 ($1,200,000)

That’s right by doubling your money you can be a millionaire! It will not be easy and you are probably thinking how am I supposed to double my money each step?


Just focus on one step at a time or it will be too overwhelming. I have found as I have gone along, the more I do, the more opportunities that come. I never expected to be where I am now when I started blogging and trying to think about who exactly to achieve my millionaire goal back then just made me feel overwhelmed. Also when it comes to doubling the money, you don’t need to do it in one quick move or investment (of course that helps), but you can do a variety of things to double the amount.

So step 1 is 5cents but it is really just finding money, any sort of money. You can be given this cash without asking for it, but if you ask someone for the money it doesn’t count. You don’t need to find 5cents, you can find any amount. Whatever amount you find if it is more than 5cents means you can jump ahead if you like. So if you find $5 you can start on step 8.

For the next 2 weeks those of you who are interested in doing this challenge I want you to be on the look out for money. How can you find this money to start the challenge?
– Get given money without asking for it
– Find it in the gutter
– Check phone booths (rare but you never know)
– Playgrounds, carparks, bus stops, shopping centre floors
– Check anywhere that change might be given and dropped such as train stations, vending machines (also slide your hand over the top of machines, sometimes people put money up there when getting a few items and they run out of hands.)
– Trolleys which have money locks. By returning them you can get the coins in them.

Over the next 2 weeks I will share more tips and things about the challenge, ways to double your money and more. In 2 weeks I will post about how much I have found and if you want to blog about it I will have a weekly link-up from then on about the challenge. You may or may not make money every week, but it would be great to hear what everyone is doing and for us to help each other out.

So who is interested?

16 Responses to “Money Making Challenge”

  1. Melissa says:

    Count me in. After reading your post the other day I was amazed at how I started looking out for loose change on the street, footpath etc. I even found something! I was so excited. I thought it was 10c but unfortunately it was an Indian 1 rupee! Not much use here in Oz! I wonder how it found its way here? I kept it as a momento and will continue my search. Looking forward to the challenge.

    • Kylie says:

      Something is better than nothing, even if it is not from here! lol. I actually found American money over the weekend. Good luck continuing to find money. :)

  2. Simona says:

    Ha! I read your article yesterday and within an hour had found 25c on the ground. My friends say I have the eyes of a hawk as I’m always finding things on the ground that others don’t seem to see.

    During one remarkable week, I found over $27 on the ground (can’t recall the exact amount but it was $27 something). There is a nightclub in the basement of the office I work in so mornings it rich pickings for those who “look”. I keep a ziplock bag and disposable gloves in my handbag because you can never be too sure – especially around a nightclub!

    I average $2-$5 a week just by returning shopping trollies abandoned in the carpark. In wet weather this amount can be much higher. I check parking meters if someone has just used it before me.

    I have a IP that is let as a holiday house. It’s amazing how much loose change I find in and under the sofa, washing machine and beds, not to mention the vacuum cleaner!

    I give the coins a wash then pop them into my money tin. Most of it makes it’s way into the mortgage, but I also use it for the occasional treat. It is a bonus after all!!

  3. Kylie says:

    That is fantastic Simona. Shopping trolleys can be a great one especially in wet weather. And it’s great that you are always on the look out. It’s true if you are looking you will see it. We often see and pick up money others miss. My kids love it.

    It is amazing how loose money can find it’s way into different places. When our house was an IP and I cleaned once I found a variety of coins in different places. Ours was unfurnished, but there were coins on window sills, in the garage etc…

  4. My friends all laugh at me for picking up money everywhere I go but even finding 5c it’s 5c I don’t have to earn! I’d love to know just how much I have ‘made’ this way. Must start keeping track of it!

    • Kylie says:

      That is exactly right, even if it is 5c it is 5c you didn’t have to earn! Would love to hear about it if you do happen to keep track, just to see how much you find.

  5. Aaron Houghton says:

    Does it count if you find money down your own sofa?

    I’m always finding money there which has come out of my own pocket.

    Can’t wait to see the follow up to this article


  6. Kylie says:

    Hi Aaron, technically finding money in your own sofa doesn’t count as the money was already in your possession, but it is up to you, as it is your challenge if you choose to do it. :)

  7. GabStar says:

    I’m in – Can’t wait.

  8. Scather says:

    Oooh, I really want to find some money now!!!
    Can’t wait to read about the next step!

  9. GabStar says:

    I looked everywhere and found nothing. Funny as usually when I’m not looking I’ll discover it!
    So I went to one of only two places in Perth that have those coin trolleys and stayed there til finally one guy let me have his trolley and got $1. I was going to do some more but it was nearly 40oC.
    But I am fully amped aboiut starting the challenge at step 6. :-)

    • Stina24 says:

      GabStar, which places where they? We have them in Joondalup but I have not seen one single person use those trollies :(

  10. […] Kylies website she gave some pointers on how to find some (http://kylieofiu.com/2012/03/money-making-challenge/) so I took one of these tips and headed off to Dan Murphys. I waited until someone was about to […]

  11. We’re coming to this a bit late but better late than never!
    My sister and I were both really inspired by your challenge so we’re doing our own – only putting our own twist on it. We’re starting with the price of two coffees ($7) and aiming for $2million (one each!).

  12. Dems says:

    Wow! Kylie, . this is such a neat idea! I would like to try this challenge too. The goal is to make 1 million dollars by doubling your money! It’s never too late to start I guess.

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