I was always told, "You need money to make money." Well, I have money now. So how can I use it to make more money? If you know of any books, online resources, or have just personal advice I would love to hear it. Thanks!
2007-04-25 10:52:46 · 8 answers · asked by Katie 2 in Business & Finance ➔ Personal Finance
Put it into a high interest account and let it make money for you.....
2007-04-25 11:09:31 · answer #1 · answered by QuestionQueen 3 · 0⤊ 0⤋
Ok, first thing. Watch out for the vultures. You will probably get lots of people coming and telling you that they have a wonderful website or idea that will make you a ton of money.
Next up, know that there is no such thing as sudden wealth for most people. It takes work, and patience.
Sounds like you are going along the right path and gathering information. I would suggest going and buying the Personal Finance books in the For Dummies or Idiot's Guide series. They can be a great starting point for learning. Also, go to Yahoo, MSN Money, Motley Fool, and other sites and read articles about investing and saving.
Here is a site that has tons of different articles. There are all sorts of topics so you may have to search a bit.
http://www.bankrate.com/brm/news/Archive.html
Once again, beware of the scammers. Do not take stock tips from people you do not know. Also, be hesitant with taking stock tips from people you do know. Do not put your money into something unless you have researched and understand how it works and what the pros and cons of the investment are.
2007-04-25 18:01:11 · answer #2 · answered by A.Mercer 7 · 0⤊ 0⤋
Well, the real saying should be....if you have a lot of money it is easy to make money... If you have more than 10 grand, you can open a money market account and just take the small yield, although it is a small yield it is still a large return in aspect to what people make a week on average.
Investments is the way to make money with money. It just depends on which market you get in whether it is real estate or opening your own business. There is always a risk with spending money to make money. That's why you need a bunch of it so that you will have a higher chance of success by putting your hands into different waters.
2007-04-25 18:02:11 · answer #3 · answered by Oh My 2 · 0⤊ 0⤋
ya i know you need money to make money. but be careful cause you could lose money along the way. internet biz is very competitive market cause it is lucrative. but don't make a start like 95% of internet marketer who will stop at some time cause the money they spend is bigger than income they could generate. so why i suggest is you grab as much as free resources you can get. do you know that internet marketer are giving away ton of free resources as their advertising strategies. they will setup a membership site where free member could download any information they need regarding online biz. but you have to love reading otherwise you might not last long. if you willing to learn check below resources. good luck and never stop until success is yours.
2007-04-26 14:53:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Buy something for less than someone else is willing to pay for it and then sell it to someone else. In other words, the "one man's junk is another man's treasure" business . . . also known as "antiques and collectibles." Over the years I've sold items for as much as 500 times what I paid for them . . . although 2 or 3 times is more the rule! Of course, you have to become an expert in a particular area of antiques, collectibles, etc., so you know what to buy and how much to pay for it!
2007-04-25 22:42:45 · answer #5 · answered by worldinspector 5 · 0⤊ 0⤋
You basically have two options:
1. Slow and steady, put it in the bank and waiting for it to accumulate interest.
2. Fast and risky, buy something and then sell it for a profit. This includes real estate, stocks, selling stuff on eBay...
2007-04-25 20:50:08 · answer #6 · answered by calliope320 4 · 0⤊ 0⤋
visit daveramsey.com to learn what the bankers / credit slaver cards/ mortgage co.s pray you never ever learn or worse apply in life - how to own your money , not be owned buy it.
read ' the millionaire next door' , the women millionaire next door' and apply the concepts. do your homework on any investments. gett conserve opinions on any action / any thing you do , you got to understand comfortably in your gut what is going on. no high fluting's words just keep it real.
2007-04-25 18:04:19 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Blow it all on scratch-offs.
There's no such thing as "easy money".
2007-04-25 18:01:13 · answer #8 · answered by frant1k 2 · 0⤊ 0⤋
watch "MAD MONEY" with Jim cramer on msnbc every day and night
2007-04-25 19:33:52 · answer #9 · answered by GREAT_AMERICAN 1 · 0⤊ 0⤋