Posts Tagged ‘investing’

Thinking of Investing Right Away Instead of Just Spending

Friday, February 7th, 2014 by

Today I was able to finish some work that was pretty lucrative financially and it didn’t take that long either. My first reaction immediately was what I could invest this into and I started to think of things such as investing it in training to further enhance my skills or possibly ways to make my work life more productive.

It kind of dawned to me that this is kind of the mentality you probably need to develop if you wish to generate a financially independent scenario. I think many agree that for most when we get a big pay cheque the immediate thought is that you can buy all that “stuff” for example where people often consume all their weekly funds in like a matter of days or hours.

However, in this case I feel it is more about thinking of ways to get your money to help you earn more until you are in a comfortable position. Sounds like such a minor detail, but a very important one to keep in mind I think.

Engaging In Conversations About The Future To Save Money

Wednesday, April 17th, 2013 by

About a week ago I was talking to a person about money and how just talking about the future can trigger a lot in your mind to the point where you will continually make good financial decisions. The example that was used was let’s pretend you were offered two choices in getting a free gift certificate for a store. You were told that if you take the offer right now you would get $20 and if you wait about two weeks you would get $50. So the question was which one would you take?

To me I obviously said the $50 as it sounded like it made more sense in the long-run. He was then saying of course people like myself would choose that. However, he was expressing how for this test if you actively engage people in conversations about what they plan to do in say the next week or two beforehand they will more than likely choose the $50 based simply on the notion that they are thinking about something in regards to their future. For people who usually don’t surround themselves in conversations such as those apparently they are more likely to simply go for the immediate gratification route.

That’s interesting I thought. If you think about it too this doesn’t mean you have to get people to talk about money or finance specifically. Instead, it could be a simple topic such as what are they planning to do for fun next week or talking about say where they plan to visit for their next vacation. The more I think about it the more this makes sense too I suppose for myself as I am usually always thinking about the future regardless of what topic category it may be.

Not a bad concept to take away I say especially if you are trying to find ways to teach like say a child on how to save money or how sometimes waiting a little can result in getting better rewards in the future.

Investing Around The Idea And Leadership or Revenue

Friday, April 12th, 2013 by

Today I was reading about venture capitalism in general and the different approaches that some people take when it comes to funding a business or organization. The one interesting point I thought was that the ones who were most successful were the people that focused more in investing into companies they felt had a good idea and leadership as oppose to people who were so caught up in simply the numbers.

I suppose in many ways that does make sense right? It must be a lot harder too though to invest in things mostly based on if you think it will be good later as the risk is extremely high as opposed to someone that already has a good revenue flow. Then again, I guess that explains why those people are more successful in many ways financially as it’s kind of like the saying of more risk more reward. At the same time, if you are basing it on a person’s track record or leadership background then one could argue the risk should be less.

In many ways I suppose it is similar to shows like Dragon’s Den and Shark Tank where every investor seems to have a different philosophy whee it comes to investing. I would say when it comes to getting funding on the Internet with places like Kickstarter it feels like it is more a people’s platform where it seems like it’s all about the idea and the people behind it. I feel that is how it should be and we need more things like that.

Crowd Funding Even Your Personal Life

Tuesday, February 12th, 2013 by

While nowadays I am used to hearing people going to crowd funding as a source to get funding for their business or projects the notion of people using it for their personal lives is a bit more foreighn to me. While watching the news today a story came up about a couple who was trying to have a baby through In-Vitro Fertilization where it is obviously expensive an so they went to a site called gofundme to try and raise money for it. You can see their posting here: http://www.gofundme.com/icanhazfamily

It made me think too where if they can get this successful why wouldn’t more people try to do it for things like a student trying to get money for school or asking people to help pay for a wedding? The first reaction I heard was that no one wants to look like a beggar and so this usually turns people off of the idea. At the same time I would say this is one of those you don’t know if you don’t try situation. I wouldn’t be surprised too where if someone asked for help to buy them a bag of potato chips that it’s not too far fetched that there is someone out there who would be willing to do it. At the end of the day it’s just another way to potentially get money.

Investing Or Gambling When Bored

Friday, November 9th, 2012 by

I am always surprised when I hear this as today people were telling me how their friends make so much money to the point that they have no idea what to do with it and so they simply blow it in a casino. The funny thing is that the topic came up because people were trying to come up with a fair rate to bill them for a service and the response was that the figure was too cheap since these are people that easily blow thousands of dollars on trivial things each day.

I have always wondered myself where if you are truly bored and have no idea what to spend your money on isn’t it more fun and potentially rewarding to just say randomly go to a site like Kickstarter and start investing on some projects to see how they go? Unless you are trying to train yourself to be like the next poker champion I think this would be a good way too to keep yourself in the loop in terms of the things that people are trying nowadays as it may even give yourself some ideas on things to to do and create.