“You have to spend money to make money.” It’s a concept that has rang true since practically forever. It is also probably the most effective method of building a healthy investment if used wisely.
While the internet is most free and effective method, when used collaboratively with a little cash flow prosumers have the ability to truly take advantage of the market. There of course has to be moderation, and strategic decisiveness, in the manner which the money is spent in regards to promotion, licensing, purchase of an office, property, etc. but these are all components to the engine of your money making machine.
The worst mistake is to just let your money sit there idly, or to spend it on materials that are short lived. For example, on JAY Z’s recent album 4:44, he discusses being young and having the necessary funds to live a life of luxury with the purchase of sports cars, jewelry, etc. These material possessions however, brought him no monetary income; his money was wasted. On the track “The Story of OJ,” he raps: “I coulda bought a place in Dumbo before it was Dumbo for like 2 million. That same building today is worth 25 million
Guess how I’m feelin’? Dumbo.”
The idea is to invest early, invest when the market is right, and know when to back out of an investment in effort to avoid such disappointments, but whatever you do invest in something for the future.
Start a Blog
No, really. As impossible as it might sound, people actually do make money from blogging. I mean you didn’t think we were doing all of this for free did you?
Starting a blog can be a fairly cheap investment in comparison to others. There is a matter of being able to inform and impact the world with whatever your cause may be as well that comes along with it. Of course as with all methods it will take a little work before you see a return. Have a few friends join in to assist you. You’ll barely realize you’re working – trust.
Start Up Company / Online Store
You could of course start your own company. This will not only take money but time and effort. Only do this is you are truly committed to doing so. Being your own boss takes much discipline, and without it your investment will not be regained. Invest in the materials needed, but more-so invest in belief of yourself.
Look for fixer uppers and invest a little to making the place look new again. Perhaps even gather a few friends and get it done for cheap, or simply have a good time fixing it up along with them. The money you put into buying the property will be made back as long as you maintain the property, and keep your tenants happy.
Investing in a crash pad is rather common today with the help of AirBnB, and you can do it without even. purchasing another property if you would like. Simply spruce up that extra room you have available with some nice decor, hire cleaning staff (or do so yourself), purchase the items you generally see in a hotel room, and of course be the ideal host. The money will make itself from there.
You can also purchase other properties and do the same. As long as you establish, and maintain good reviews, travelers will literally hand you their money.
Some may find this method a little unethical, but that’s probably more-so due to the pricing when items are resold (which sometimes is a little ridiculous). It is to the same effect as being a collector of sports cards. Purchasing items you know are limited in supply when they are initially released is a good way to invest as long as the item is guaranteed to be profitable.
Shoes have long been a trend in the resale market, with buyers purchasing multiple pairs and reselling them knowing there are people that will spend double the price due to the brand name. There are also limited edition items that have been resold and have gone on to make a valuable profit. All of those Star Wars Collectables you opened, and were tossing around when you were a kid are now worth hundreds.
Credit Card Point Offers
Sometimes credit cards have manageable methods of making spending on methods of making money a little less hefty. Amex for instance often has initial card opening rewards such as “spend $3,000, get 100,000 points back.” If you have to spend it anyway, and already have the cash, why not take advantage of the deal and build a little credit while you’re at it. Just do so responsibly. That’s the key.
There are other offers in which you can get two times the points back, discounts, and free global entry as well. Benefit from investing.
This is where all the hype is right now, but don’t invest just based on my word. Do some research and learn about exactly what cryptocurrency is, as well as which stocks to invest in. Of course Bitcoin is a dominate one, but also look into the likes of Ripple, Litecoin, Dash, Monero, and Ethereum. You might actually be surprised with how much you can make with a small investment.