This is an interesting thread! I dont think I would be able to sell parts of my pysical aura to make money regardless of the price!
I have been trying to think of new ideas people will pay money for ie new products/inventions like the juice bars that are taking off.
If I could create and run my own empire that would be great, as I LOVE to keep busy and be challenged so anything that fulfils those criteria would be excellent.
The only trouble is everytime i think of something someone else has beaten me to it!
Maybe I could rent out my animals?[confused2]
Trisha[biggrin]
Hi all,
Some food for thought.
http://www.theaustralian.news.com.au/common/story_page/0,5744,11058143%255E601,00.html
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
I think it is Keith Cunningham who says to make a profit you –
find out what people want and give it to them.
Cheers
skippygirl [biggrin]
Hi to All and geo,[biggrin]
In order to generate money you should start with the basics, first you start with a goal list. This provides incentive and will be the basis for your plan of action.
Next, start or review a budget which will indicate your available cash flow and determine if you need to change anything in order to create money for investment.
Do you need to review spending habits such as the misuse of credit, including cards or impulse spending? Businesses that buy on impulse using credit are rare, plan spending in your personal life the same way and include self rewards for achievement of goals or in the steps taken towards them.Do you have money owing to you, even if you are unaware of any existing? Try looking for some, it’s a bit like buying a lottery ticket except it has better odds and is free.
Try contacting your state treasury department or the other links for unclaimed monies. Some sample links are here. http://www.asic.gov.au/fido/fido.nsf/byheadline/Looking+for+lost+money%3F?openDocumenthttp://www.unclaimedsuper.com.au/
http://www.sro.vic.gov.au/SRO/srowebsite.nsf/unclaimed%20moneys.htm
http://www.osr.nsw.gov.au/portal/page?_pageid=33,63342&_dad=portal&_schema=OSRPTLT
With regards to shopping could you consider changing to alternate supermarket chains in order to save money even though you may have to travel, wait longer and provide your own shopping bags? This can save up to 30 % per week.
Shopping discount coupons are available at http://www.kapowadvertising.com.au
These can be printed off the website as required
Booklets listing factory outlets are available at newsagents.All of the above are suggestions to create money without reducing your present standard of living, and it is important to reward yourself for taking the effort in implementing them. It is no way intended to be a complete list and may not suit every ones circumstances and is only offered as general advice.
Other questions I can offer suggestions on are listed below; however I have run out of time today.
Do you need to increase your income?
Do you need to reconsolidate existing debt to reduce weekly outlay?
Do you have an investment strategy?
Do you have a risk strategy?
Do you have a credit card that is always at its limit?I can offer general advice for discussion; however I am prohibited in giving specific advice by the financial services reform act 2001 without following set procedures.
Regards
Bryce Inglis
PS146 Compliant
Property and Investment consultant
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS146.
One Honest Idea is.
If you want to make money, ask some one who already does, and you will find most people are happy to share, there way and yards, they travelled in there wealth creation…
serious, im always asking people, and sometimes it helps to play dumb (not being rude.. but being lazy… people will try harder to explain and go into some much more detail, to make sure you got a better understanding but understand fully what they say.)
Cheers,
sisOriginally posted by skippygirl:I think it is Keith Cunningham who says to make a profit you –
find out what people want and give it to them.
Cheers
skippygirl [biggrin]
And sell a product that you can re-sell, again and again and again and again and again..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAgree..
Ask, be honest and upfront and you’ll be suprised by the help offered..
a friend of mine started up a business from nothing and it’s now ‘taking off’, he’s busy, but enjoying it… the product “beef jerky”…
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHow to make money:
1) Identify a need
2) Fulfil itIt’s that simple.
Many people have problems with the first bit though.
You don’t need goals to make money, you need goals to know how to maximise your money making abilities & to decide what to do with the money once you have it.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.– Jan L.A. van de Snepscheut
Hi All[biggrin]
You don’t need goals to make money, you need goals to know how to maximise your money making abilities & to decide what to do with the money once you have it.
You need to goal set in order to be compliant with the FRSA prior to giving specific financial advice. Under the Act a financial planner must now know their clients goals, objectives and other requirements so that a constructed plan will reflect their wants and needs. Failure to do this could lead to financial and legal repercussions to the advisor, including loss of license, fines or jail terms. The advisor may also be sued for loss, by the client if negligence is proven.
Regards
Bryce Inglis
PS146 Compliant
Property and Investment consultant
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS146.
Hi toAll and geo[biggrin]
Last time I touched on generating money by more cost effective shopping. Since then I have found an interesting forum which covers this effectively. The link is http://groups.msn.com/MoneySavingIdeas/messageboard
Cutting expenditure in this way can lead to a rise in living standards and can be done quickly. An important point is that the savings are in after tax dollars.Income may also be increased by self education which, for instance, can be informal thru a hobby leading to formal qualifications. This is more likely to be over a longer time frame.
Another point is to dress in a manner reflecting where you wish to be in 5 years time. A very rich man, I forget who it was, it may have been Aristotle Onansis, was once asked what he would do if he lost all his money and became penniless. His answer was to work at any job until he could afford a good suit and then the rest would be easy.Whilst it would be great to “find out what people want and give it to them†the reality is that 2/3 of businesses fail within 3 years. I am not saying that one should not follow the dream of starting a business but rather this should be attempted in a manner that may lead to success, again a lot of this involves education and research.
Some sample links
http://www.business.gov.au/Business+Entry+Point/Running+your+business/http://smallbusiness.ninemsn.com.au/index.aspx?sectionid=2
http://www.thesource.gov.au/find/career/starting_a_business.asp
Work out your liquidity ratio to show how many months of debt can be funded if regular income ceases. Also important is debt service ratio to show the impact of increasing debt levels or the reduction of income.
.Businesses can fail due to cash flow problems so an alternate income stream may be needed at least temporarily .This can be covered with your investment strategy or by maintaining full or part time employment.
It is also important to consult with professionals and to seek their assistance .This may include Financial Planners, Lawyers and AccountantsNext time I will offer suggestions on reconsolidation of debt to reduce weekly outlay.
Regards
Bryce Inglis
Investment Advisor
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific advice
Originally posted by noddies:You need to goal set in order to be compliant with the FRSA prior to giving specific financial advice. Under the Act a financial planner must now know their clients goals, objectives and other requirements so that a constructed plan will reflect their wants and needs. Failure to do this could lead to financial and legal repercussions to the advisor, including loss of license, fines or jail terms. The advisor may also be sued for loss, by the client if negligence is proven.
Bryce,
But who in their right mind would use a financial planner!
Of course, if you wanted a bullish position on Nigerian money laundering though…..[biggrin]
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.– Jan L.A. van de Snepscheut
Hi all..have a look at http://www.simplesavings.com.au for way’s to save $
A $1 saved is $2 earned
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator“But who in their right mind would use a financial planner”
the very term is misleading isn’t it? most people would assume planners would act in their best interests, not their own. this is impossible when their commissions come from the products they sell. It’s like buying a vaccuum cleaner and asking which one is best – the one that has the highest sales commission of course!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
[biggrin][biggrin]Ausprop
I was going to post something similair re: Commisions etc, but decided against it, was funny to then see your post..
Can’t Tar everyone with the same brush though, i’m a fan of Noel Whittakers.. I believe the indutstry is becoming more regulated
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi to all[biggrin]
Thanks to all of you for replying. I was beginning to think I was writing a monolog or worse still something that is boring.
Hi all..have a look at http://www.simplesavings.com.au for way’s to save $
Thanks redwing. I especially liked their calendar idea.But who in their right mind would use a financial planner
Would it surprise you that a lot of people do, including wealthy people of sound mind?most people would assume planners would act in their best interests, not their own. this is impossible when their commissions come from the products they sell
So I assume that you also don’t like or use Finance Brokers, Real Estate Agents, Property Managers, Insurance Agents, Stock Market Brokers , etc.I believe the indutstry is becoming more regulated
The industry became highly regulated with the introduction of the Financial Services Reform Act 2001, the deadline for compliance with PS146 occurring in March 2004, it is monitored and enforced by ASIC.Of course, if you wanted a bullish position on Nigerian money laundering though
Dishonesty And greed are not limited to the Financial Planning industry. Your comment shows the FSRA and ASIC are working effectively
Fuller details of this scam are found at this linkhttp://www.aic.gov.au/publications/tandi/tandi121.html
Regards
Bryce Inglis
Investment Advisor
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific advice
Originally posted by noddies:Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific advice
Hi Bryce,
That disclaimer is a real kill joy [biggrin]
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi derek[biggrin]
I preferred it prior to March when I didn’t have to use it and was a simple property advisor enjoying simpler discussions that wouldn’t land me in jail if I said the wrong thing I also miss discussions with the likes of crashy and billfromoz
Regards
Bryce Inglis
Investment Advisor
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific advice
Hehehehehe
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi all,[biggrin]
Another reason for goal setting is that by putting our goals in writing or cutting out a picture and sticking it in a scrapbook we are giving our subconscious mind an instruction, and in going about our lives making daily conscious decisions our subconscious is involved in the process to guide us toward a particular goal. We may not be aware of this process, for example, I often hear about people who have used this process remarking how their present home looks like an old picture in their scrap book, even if they had forgotten all about it.
So now let’s start to discuss debt consolidation.
I have heard that whilst the most frequent new years resolution is to reduce/elimininate credit card debt, it is also the one that is most broken.
A credit card if used correctly together with a budget can be a useful tool to reduce costs by giving an interest free period during which time cash can be used to generate income in other ways, for example with a LOC set up with an auto swipe to clear the CC prior to interest being applied .
However a lot of people don’t live in an ideal world.True life examples;
1/ I know of a married couple who have a Mortgage and a credit card, every two years or so they get to a stage where the credit card is maxed out and they have difficulty in meeting repayments. Their solution is to refinance their home using its capitol gain, pay out the CC and start the same cycle again. I suppose this strategy will work until they max out on their borrowing capacity. Even though they are friends I am prevented from assisting them or making any comment until they decide to appoint me to assist them.2/ Whilst working briefly as a Mortgage Broker a couple presented to me with $80,000 of credit card debt. They had a very nice home in a middle class area, and were self employed on a good income. They were also having difficulty with payments. Upon examination of their situation even though they had enough equity in their home the max amount they would be able to borrow, due to repayment requirements was $40,000 leaving a shortfall of $40,000.Although I could have ferreted around to see if I could overcome this I also inspected the history of their 4 cards and found that one of them had a max limit of $20,000 and the bank had stopped its use. At this time the total CC debt was $60,000, their solution being to apply for another card from the same bank, which issued them with another $20,000 card, even though they had stopped credit. This card was used to make a $5,500 purchase within 7 days of issue and was used for further purchases to a total of $18,000 within 21 days. At this point I decided that they needed financial assistance and encouraged them to seek appropriate advice.
3/ Later whilst working as a Property Consultant I visited a couple who proudly showed me that they were on track with their LOC, you know the fancy curved green curved line that sales people at wealth creation seminars etc show you, but only 15% of people achieve. When I checked their credit cards it showed that the total limits had increased from $3,000 to $20,000 over the same period. They seemed to be surprised when I informed them of the advantage of transferring this debt to their line of credit and disappointed about the flash green line.
From the above it can be seen that debt consolidation without addressing underlying problems is not the answer and that it is in a banks best interest not to inform their clients
Again I have run short of time and will continue later
Regards
Bryce Inglis
Investment Advisor
[email protected]Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific advice
Agree Bryce,
The LOC and using a CC is great ‘if’ you can budget.
MortgageFree Australia promotes this as well as does Destiny Financial. I’ve seen the green line presentation, however, we already had our loans structured this way..
We use another banks CC linked to our loan (better rewards) and save our ‘point’s’ for X-Mas gifts for the kids, CC is paid out monthly (no interest)our bank would’ve given us a CC without fees, however the scheme of another bank was better at the time rewards wise..
When i met my wife i convinced her to consolidate her debts onto her house loan, now an IP and saved $’s.
Glad Financial Advisers now have to start disclosing fees and commisions, i believe they have taken over from “Insurance Salesmen” and need to clean up the industry, many a pensioner would agree..
Not saying all are like that, as a good financial adviser would be a bonus, however, how, apart from word of mouth do you find a good F.A?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
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