DAY 9 money strategies

It’s Saturday Morning and I’ve just arrived home from a long night at work. I have a great job and although I still love doing it, I have to say, sometimes it can be exhausting, not to mention, stressful.

I like Saturday’s, even though I work on the weekends, there is still a feeling of fun. While people with normal jobs take the day off, I am still working, even though ive been up all night.

I have several properties to look at online today, one of wich is a friends who I am helping. It’s funny, I remember year’s ago, when I was self employed, how I never new where my next check was coming from. Even though I did enjoyed the challenge, it was a constant pressure I do not enjoy. My friend who I am helping, is still self employed and although he makes a go of it, he sometimes asks me how we can make some money together. In the past when he would ask I would come up with a plan or project for us that concentrated making money only for that day or two. Now, when he asks, since i’m learning new techniques to move money around on a larger scale, my idea’s are different, requiring more time an energy but with a bigger pay off.

I think it’s funny now when he asks because it make’s me think back to a time when I could not see these kinds of opportunities and would have suggested something altogether different. while there is nothing wrong with two guys going out and making some quick cash by washing some windows or hitting some restaurants to do balloon animals, it occurs to me, that these efforts to not bring in a steady stream of income. I am learning how to set things up in such a way as to doing the work once and getting paid over and over again, either through residual income, or automated sale’s on the internet.

It’s amazing to me how many people think that in order succeed you have to come up with a new idea or be in on the ground floor of something new in order to make the big bucks. that idea is simply not true. there is nothing wrong with finding new improved ways of doing things but a lot can be said for following a ready made system and getting your part of the market share.

I used to think that too, now I’m glad that I dont. there are many ways to create consistent income and that is what I’m after. I love to be creative and someday when i have more time and resources I will work towards some new ideas but for now I just want to get a handle on using what I do have to its upmost potential.

For example, most people don’t know, that saving only $100 per month at compound interest, will produce over $1.3 million in just over 40 years. How many people do you know have worked theirwhole lives and have nothing to fall back on? there is simply no excuse for it, especially when something like a simple long term savings plan could secure their future retirement. this savings idea is not hard, there is nothing new to it, its simply having to knowledge of how to make your money work for you instead of you working for it.

There are also many strategies pertaining to real estate that I intend to employ to get my money working for me, they are simple, but no one thinks of doing them. for instance, purchasing a rent house that cash flows enough to pay for your new car. it’s simple, let’s say you had enough money to pay for the car outright, instead of giving that money to the dealership or bank, buy a property with it. then cash flow the property by putting renters in their and use that to make your monthly car payment. this way you have taken the same amount of money and used it to gain wealth through your rent house which will go up in value. so, instead of just giving the money to the bank and buying an asset that goes down in value, you have two assets for the same price. one goes down in value (the car) while the other goes up. this way, when your ready for a new car, you could sell the house, pay off the old car and buy a new one and still have a nice profit from the whole venture.

These are the strategies and things I think of and they are also what’s going to get me to my debt free date!

until tomorrow!

BLASTOFF!