Double Up

Lets Double Up, lets make something work, lets do what broke people don’t know how to do, but how do we do it ?

There are a lot of easy, but difficult task to do in order to double your profit (money). Let’s see how to do this effectively to where we double our profits continually. Here are different ideas and proven methods to “DOUBLE UP!”

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First off I suggest finding something your good at doing it might be fixing, creating, selling, or maybe you can speak two or more languages. Find your talent first and feed into it.

I found this post to be important because I made an extra 1000 just by doing these tips. My skill is fixing cars. Knowing that I went surfing the web for cars I know I can fix with little cost. You will never guess what I found… I found a 2000 BMW 323i listed for $550.00 looking at the problems on the vehicle I knew it was a easy fix. I had to replace two heater pipes for the coolant system, which only costed me $300 in parts. For a totally profit of $1,150.

This is just an example of what you can do on eBay, OfferUp, LetGo, and Craigslist. Search for and item you know is worth more then is listed and flip it for some profit. This could be furniture, games, Jewelry, or maybe even cars. For my creatives out their you can find items that are cheap to create something worth buying.

We can can double up are income just by using these three things.

• Searching

• Fixing/Cleaning/Creating

• Selling at listed cost

If you choose to use these tips you can double your profits easily. Learn how to post your products on as any selling platforms as you can. You’ll soon end up doubling up your income in no time I hope for the best for you guys.

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     Not many people have the opportunity to sit down and plan out what to do with there finances and how their going to invest. I find one of the most rewarding things in life is to be proactive with the time. Everyone knows there is only 24 hours in a day and 60 minutes in a hour. Take it a bit further and there is 168 hours in a week and 10,080Mobile  status 2.jpg minutes in a week. The average person works 40 hour weeks, which means their left with 128 hours. I am not going to tell your how to manage your time this isn’t what this post is about. What I am trying to tell you is that you can manage your investments with only 3 hours per week, and still make money to build a future.

     Earning a lot of money is not the key to prosperity. How you handle it is.

Quoted by: Dave Ramsey 

Dave Ramsey is one of the most biggest authors for financial growth and debt recovery. His net worth is $200 million. Dave is also a great businessman who has a website and a channel on YouTube Dedicated to help individuals get out of debt.

So the ways that help you with your finances on the go that hardly take up any time are:

  • Mint
  • Lending Club
  • M1 Finance

 

Mint is an application you can get on your phone for free and it helps you see where your money is going. Mint helps you save and gives you notification regarding your spending. I personally use this app and I find it to be helpful. In the app it even shows passive ways to invest, and even shows you credit cards that give you the highest rewards.

Lending Club is a peer to peer lending application that you can download. They offer 3-8% back in interest per year. The minimum needed to start investing with this company is only $1000. Lending Club shows you everything you need to know about the person your want to invest in, also gives you an option for risk. The higher the risk, the higher the percent.

M1 Finances is an online investing app that takes $0 to start and no cost or fees on your first trade. I heard about this site from my favorite financial planner Jeff Rose. They also have automated investing that allows you to be the passive investor you want to be. They also let you pick stocks that you know and want to invest in. M1 finance is also “TAX FREINDLY” which means you don’t have to pay taxes on your earnings.

What’s The Plan

Success can not happen with out dedication and most importantly goal setting. Writing down your personal goals is the easiest part of goal setting. The difficulty in goal setting is achieving your goals. So what’s the plan ?

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Okay so what’s one of your goals ? Maybe you want to build your own business or retire at a young age. That’s great, but let’s take it one goal at a time. We all have big plans for ourselves but we don’t really do the work for setting goals to get there. If you are wanting to retire at a young age do you have a stock broker or investment account yet, if not go look for the best of the best rates and returns first then select your plan. This is just one step you can make now towards your goal. Find your vehicle, some cars go faster than others its the same for your investments, just way out the risks. If you choose a faster vehicle for your investments, you might crash. If you choose a slower vehicle you are less likely to crash because your going the speed limit.

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 As you choose your vehicle and set reachable goals, you want to have a vision behind it all. The bigger your vision, the more drive it will bring when accomplishing your reachable goals. Allow me to give your an example:

my vision for everything I do is to influence and change the bad habits of the world to create an atmosphere where people are selfless more than selfish.

SUMMARY: set reachable goals and a line it towards your vision.

CAUTION

Caution if you are reading this you are willing to invest in your knowledge of finances. To kick this message off, the starting question that you should be asking about your finances is “how important is it to you?” self reflecting about the importance of your finances is key to realizing where you’re at with your finances. If your finances is important great, and if your finances are not as important to you then lets improve that.

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The key to success is to be aware, so I say to you be aware of your finances. If you lost your job today would you be able to live comfortable for at least three months?

To tell you a little bit about myself and why I am so passionate about finances is that very question. Last year I put everything I know about finances to the test. I minimized my expenses, I saved a third of what I was making, I kept half of my money in a high yield savings account, and I bought stocks that gave dividends. I was planning on quitting my job as a car salesman because I wanted to further my education on business administration. It’s been six months since I quit my job and I currently rely on the interest and dividends provided by my stocks and high yield savings account.

I may not have a degree in accounting or Business but I am constantly practicing and learning more each day about finances, Investing, Belief, and Business. My question to you as a reader is will you join me on this journey to success.

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Warren Edward Buffett said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

Warren Buffett is one of the most successful business men, that I look up to as a mentor. He is constantly investing with caution. For instance, When Warren Buffett was starting his business as an investor he had $9,800. Eventually Warren increased his capital to $140,000. Warren Buffett increased his capital by being interested in how a company worked and what made it superior to competitors, rather than just looking at balance sheets and income statements.

What is going to grow your saving, your investments, and your finances in general; is how cautious you are. Here is a quote from Warren Buffett about success.

high returns with low risk is the key

The best way to lower risk when it comes to investing is being cautious about who you are investing in. It is important to be aware of the state your finances are in as well, just like investing the more you know the less debt or the less risk of going in debt you will have when dealing with your finances. Now you know the importance here are some application steps you can take to be more cautious when dealing with your finances.

  • Review your bank statements
  • Look at your regular expenses
  • Lower fast food or coffee expenses

  For the first point, the reason why I say review your bank statements because it’s a way to self-reflect on your spending. Ask yourself, “Where is the majority of my money going?” It is important to be aware of your spending because sometimes we get a little too carried away with spending money we don’t have, on things that we think we deserve. If you have to use a credit card for a purchase, you have not earned the right to make the purchase.

For point number two, Looking at your regular expenses help you find out how much is left over after your bills. If you don’t have any money left over, that is a key indicator saying that you either have to cancel a subscription or gym membership you are probably not using. It can also mean you have to down grade either your TV provider or Cellular Service. This a little change that can make to give you a little bit of financial relief. Which means more money for investments.

Last but not least, Lower fast food or coffee expenses. This is an automatic wealth killer because the average American spends $1,200 on fast food per year. If you stopped buying fast food for a year you can buy 6 shares of McDonald’s giving you a dividend yield of 2.23 per share which means more money made and less money spent. For coffee the average American spends $1,100 per year. That means if you stop drinking coffee for a year you will be able to buy 16 shares of Starbucks giving you a dividend yield of 1.86 per share (more money in your pocket).

  I truly believe that if we can just be cautious in our finances we will be able to go from being low-income individual to millionaires. Just from being aware of our spending.

SIMPLY STARTING

Many people try to save but don’t even know where to start or even how to save. I’m going to be sharing points about how I save money. Don’t worry I’m going to give details about how and where to start. So without further ado, here are my points

  • Make a budget (You are your own business)
  • Find your spending habits
  • Know your needs for saving (be honest with yourself)
  • Pay yourself
  • Investments

The First point is obvious, create a budget and I don’t mean just your bills. Even in business people monitor every expense that comes out of there business because its not just the big things you need to watch its the little ones as well. If you want to save money you have to watch it, don’t over look the power of budgeting just do it.

Now that you already got your budget made assuming that you just did it. It will be easy to spot out your flaws or in this case your spending habits. Habits are

a settled or regular tendency or practice, especially one that is hard to give up

quoted by oxforddictionaries.com

Grant it I know personally that it is hard to get rid of spending habits, but that doesn’t necessarily mean that you can’t restrict your spending habits. “Wow Caleb I thought you were going to tell me to give it up.” Well once you realize that you can restrict your spending habit then you can decide yourself if its a healthy habit or not. In “Rich Dad Poor Dad” Robert Kiyosaki states Robert Kiyosaki

Because students leave school without financial skills millions of educated people pursue their education successfully but later find themselves struggling financially they work harder but don’t get ahead, what’s missing from their education is not how to make money but how to spend money.

I promise you, if you can control your spending habits, you will save not just money but also headaches in the future.

Point number three, Find your needs. Be honest with yourself why are you saving: is it to get the new IPhone, a house, or a car? What ever the reason is you need to realize that in America the age of retirement is going up because many people can’t simply afford to retire. So ask yourself, is it going to benefit your need to retire? Your need for saving should be to retire one day. I hope that this post helps you realize the importance of saving for retirement. So take my advice and just do it.

Now we’re talking! Point number four, pay yourself. I understand you have bills, but you should always pay yourself first and by that I mean put money aside. This saying (“pay yourself”) might be a little cliché but people normally don’t, they take that saying in a completely different way and spend money for things they don’t need. The only way to actually have financial freedom is to put money aside, so just do it.

Did your parents ever tell you to invest, which is point number five. Okay so you have money to set aside, now its time to do the most important thing, that is, invest. There are so many ways to invest and you shouldn’t limit your options to only one type of investment. Your first investment should be in either an IRA or 401k; I recommend a 401k mainly because when you get a 401k the company that you work for pays you interest as long as your employed by the same employer. You can go to your human resource department at your job to see if they offer a 401k, and if they don’t offer it, get an IRA from betterment. Those aren’t the only investment options you can also invest in; stocks, bonds, mutual funds, index funds, or in yourself by going to school and reading. Point is, that you need to just do it. Trust me it will pay off, ten times over just by taking these steps.