Life Money thread!

TheGenius

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Surprised that there isn't one here....

Anyways, share your tips, ideas, struggles, solutions about the thing we all love/hate, money!
 

redcometfm

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I made a plan to work through college and save potentially up to 30,000 (hoping 40,000 or more especially if I get into bartending like I want to) so that way when I have to go to LA (or the UK) for work, I wont go poor and homeless with the ridiculous living costs there. At least that way Ill have enough to survive enough on my own decently while building up a solid job/source of income.
 

TheGenius

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I made a plan to work through college and save potentially up to 30,000 (hoping 40,000 or more especially if I get into bartending like I want to) so that way when I have to go to LA (or the UK) for work, I wont go poor and homeless with the ridiculous living costs there. At least that way Ill have enough to survive enough on my own decently while building up a solid job/source of income.
Dear Lord, how do you accumulate that??
 

redcometfm

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Well I calculated that if you work your typical job (ala Blockbuster, Starbucks), get 7-8$ an hour, youd make about 10 - 15,000 a yr depending on your hours. Im probably going to be here for another three because of the film program (if I get in, if not then 2). But if I get a really good job bartending, I could POTENTIALLY make 30 - 50,000 a yr if I get really good. Save up for a couple to a few years minus minor spending and you have quite a good amount in the bank.
 

Paper

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Working as a Function Bartender works wonders on the savings account! Since you work on functions, you have irregular hours, your days off will most likely be on a weekday, and you'll some times be asked to work in another department when yours is quiet. The bad side however, is that you get fatigued a fair amount, and you lose a large chunk of your social life... but your savings account will get bloated! :D

Another way is to save cash, not much, just the minimum for a "time savings account" or whatever your current bank calls it. Basically, you'll be "locking up" your cash for a certain amount of time. Within this period, the bank can use your money for other things (like loans), but once the time is up, you gain a certain amount of interest (depending on your initial deposit for the timed account).

Make sure to budget! Buggeting your salary/ allowance can help you a lot when you want to save up cash. Budgeting also helps you lose weight! :D

Thinking of making money? One of the safest ways to earn money now is to play the "currency game". The idea is that you buy a large amount of a certain currency (something stable!!!) and you wait for it to appreciate. Once the price appreciates, you can then choose to keep it or sell it... Much like stocks, but with a smaller risk. MAKE SURE TO SELL! If you and your advisor/mentor (can be anyone you trust with monetary issues) think that the money you've invested on has matured a fair amount, sell. Theres no use in just hoarding and not selling...

With all that said, you can actually do all of them at once! Work hard to earn money, while budgeting for cost-effectivity. Then getting a timed savings account to accumulated interest. And once you've got enough cash, you can buy a nice, stable, and expensive currency to invest on (ideally you'd want to buy a large amount to get the full effect). Lastly, when everytings ripe for the picking, sell! It's all repetition from here on.
 
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Nami

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??

Well, I think making it into a fish is a great idea lol :XD
Ha! That's innovative! :amuse

Well I calculated that if you work your typical job (ala Blockbuster, Starbucks), get 7-8$ an hour, youd make about 10 - 15,000 a yr depending on your hours. Im probably going to be here for another three because of the film program (if I get in, if not then 2). But if I get a really good job bartending, I could POTENTIALLY make 30 - 50,000 a yr if I get really good. Save up for a couple to a few years minus minor spending and you have quite a good amount in the bank.
That's a really ambitious savings plan! How are you going to cope with your studies if you're working so late?

With all that said, you can actually do all of them at once! Work hard to earn money, while budgeting for cost-effectivity. Then getting a timed savings account to accumulated interest. And once you've got enough cash, you can buy a nice, stable, and expensive currency to invest on (ideally you'd want to buy a large amount to get the full effect). Lastly, when everytings ripe for the picking, sell! It's all repetition from here on.

Yes, agree with you, the first savings you get can be grown to generate more interest.
Other tips to saving money, put aside 20% of your allowance or savings and don't ever touch it at all for spending. And if you're tight on money, find some old stuff - clothes books branded bags to sell. But saving money, urgh, it's always easier said than done. :oh
 

redcometfm

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That's a really ambitious savings plan! How are you going to cope with your studies if you're working so late?
I dont think Id be working that late. I know typical bars close around 2 am and thats usually when I get to bed anyway, plus my classes would only be early on some occasions other Ill have my schedule set up well enough to accomodate everything. Plus, there's summertime :D imagine the multiplied potential income from that! Now that Im potentially taking on a third degree (that ties into one of my others bc of overlapping classes) I might have a little more time to work and save. It wont be that bad I dont think, its all about careful planning.

"Its all...part of the plan." ;p
 

Paper

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Hm... If you lived here in the Philippines, or in India I'd suggest a little Call Centre work... little hours, little skill needed, high pay... The only down side is that you'd be working the graveyard shift...
 

Leen

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One way to earn money: Get a blog, get google adsense and start collecting money from ads.

Second way to earn money (slightly more risky but potentially a lot more return): Invest in mutual fund. You don't need a lot of money to start and it is less risky compare to stock market or option trading. Get the Index Fund (probably the safest bet for amateur player) and compound your investment all the time. After 5-10 years, you will definitely see a grow in your money. ^.^ It's more of a long time investment compare than a short term investment but it is worth a try for people who are too lazy to take care of their own portfolio and just want to have monetary security.
 

TheGenius

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Agree with Nami. If 20% is a lot, do the 10% :amuse, it'll help you as well.

Here is a CRAZY website about savings and such. I spent hours on it and really recommend you to do so! It's full of FREE tips and not crappy one that tells you to go buy a book after 4 sentences.

Only bad point, it's American, but the context really applies to all countries, since we are globalizing!

http://getrichslowly.org/blog/

Enjoy!


Did you guys heard about the automatic way??

It's a no-brainer system that enables you to save money into savings/retirement fund/mutual fund/wherever the hell you can put money in, before you even touch it.

See here.

If there is any more interest, I'll post the exact thing.(If ever people bother with this thread :p)
 
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Jeffu

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making money depends on many things like taking the right chances the right times also a certain luck factor exists but just study study study and study then you can do every well paying job if that doesnt work like in my case try making a website like myspace and youtube the guys who did them dont have to work for the rest of their lifes damn them :)

also you can have a good amount of money saved in a bank or for your college studies etc but something important that you werent expecting might happen when you need to spend that money and you go back to where you were its just like that.
 
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candy rain

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earning money in internet is a good ideal ,maybe we can have a try
 
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segua

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earning money in internet is a good ideal ,maybe we can have a try
Porn webmasta!!!

I think starting up a business is good. Well, to be exact, start a business that will actually solve a problem. Develop a product that might focus on a particular everyday issue.

Saving money? Cutting down on spending isn't good enough. A person has to eliminate unnecessary expenses. I got my five necessities such as my food, drink, shelter, car and internet.

Holding a degree is also good if people want to land those high paying jobs.
 

redcometfm

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Guess I shouldnt have bought that manga... :/ (goes to check on Selling Items on ebay).
 

segua

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I've heard that people could make good money selling stuff on Ebay. Go power sellers!
 

rmapply

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Hello...
You people have heard about the make money online ads. Here in this forum how many member believe in such ads ?
 

Bugzee

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^ those ads are BS!

Those ebay powersellers is alot of effort for (IMO) very little!

When i was broke in secondary school (i think thats high school or middle school over in th states) i sold DBZ pictures and made a huge profit loool printed in colour on school printers sold it by the dozens!!!

In the summer term of my last year, i decided to hustle these crates of evian water bottles i got for free from a recent marathon in my local area!!! HAHAHA i had one fat smile on my face i saw that chance to grab those crates!!!!

they were the mini evian bottles, and i sold each one for 50p in school, at the end of the week i had something like 50/60 quid! I wouldve sold more but i could only hold a limited amount of crates in my hands and at the same time running back home lol!
 

eorenmh

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about earning money on internet, it is crucial to have a website/blog that is well-known. This is why nowadays people use SEO, socialbookmarking, and search submission to boost their website's 'rank'.
I found this website a while ago, and it offers a decent search submission.
Right now i dont have a popular blog, but hopefully it will become popular thanks to their service.
 

Bugzee

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^ Thats interesting! I'll check it out!
 
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