While looking at some flyers recently I noticed that one place was have a buy one get one free sale on a lot of merchandises. The prices for one of the items are inline with other business, so in many ways it does seem like a good deal.

For myself as a consumer, I usually prefer if it is half price off as in most cases I don’t have any need for more than one. The alternative to just giving it away is to usually sell it and it’s almost like you are doing the work for the business in that sense. Of course, are the possibilities that you could sell your extra item for the same price and hence you would have got it for free.

On the flip side from a business point of view using a buy one get one free model can be a better way to move your inventory. While you should be making the same amount of revenue until you sell out of your inventory when you think about it, more than likely with the buy one get one free that means you will need to purchase the items in a bigger bulk as each person would have to walk away with two items. As well, you should be able to get a better wholesale rate to earn more profits.

There was actually one item I did want to buy. Err…now I just have to think whether I want to sell the other piece or try to find someone who would have use for it.

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Finally got around to counting all of the loose change. Again, here is the picture for reference:

The breakdown came out to something like this:

Pennies: 408 = $4.08
Nickels: 134 = $6.70
Dimes: 207 = $20.70
Quarters: 355 = $88.75
Loonies: 39 = $39
Toonies: 25 = $50

Total = $209.23

Not the highest I have accumulated, but decent I’d say. I know what surprises most people usually is how many quarters there are as normally one would expect to only have a lot of pennies. Most of my loose change comes from buying items from stores that don’t accept a credit card. Example, if an item was $1.50 most likely I would only have a five dollar bill and so at the end of the day that coin change gets stored.

Almost like a self disciplined savings contribution. I can easily imagine spending it too if I didn’t store it away at the end of the day. Now the trickier part is usually afterwards on what to use the money on as I don’t just want to spend it on say dinner but rather find a way to invest it to hopefully accumulate more funds.

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There is just a non stop pouring of negative news about this financial crisis huh? Even here in Canada I was reading about things such as how the Canadian dollar is at about 90 cent US. One thing that people seem to be overlooking though is the savings that you can take advantage of.

For example, if you are in the market to start buying some new products for your home, more than likely because of this slowdown companies will slash its prices in hopes to draw in more people who would otherwise be inclined to just not spend anything.

Unless you intend to buy nothing even for occasions like Christmas, odds are you can find a good deal as a result of this. Waiting just a little longer for any big ticket items can be a good thing. Similarly, this is another one of those situations where there is always something good you can get out of it.

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This was kind of an interesting comment that a person brought up to me as it’s no secret that a lot of people who are financially well off don’t just rely on one thing as their only way to generate money. He then told me how he had about ten different things going on which helps him to make money everyday and that it is silly not to do as many things as possible.

That got me thinking as to how many different sources of income do you really need so that you can say to yourself that you are effectively maximizing your efforts in making money based on your lifestyle? Just to clarify, I personally would consider getting interest from a savings account as an income source as well for this type of a situation. At the same time, it has to be something that you do actively or on a consistent basis.

With that in mind, I think most people would basically have two sources of income which is basically from their regular job and then by keeping some money at the bank to earn an extra small amount. Some people then try to get a little wiser by investing their money into something safe which would make it three ways. I’d say for most it stops about there.

Now some would say that it doesn’t really matter how many sources you have but rather how much you are making in total which is the real question as it’s better to make say $1000 one way than needing three different ways to do so. Speaking for myself, even if I had one source that was generating say a billion a year I would feel kind of silly if I did not have other income sources as to me it’s not so much about how much you make but rather how much did you lose by not doing different things as well?

In general, I would probably say four is an ideal number to tell yourself that you are on the right track in terms of exploring your options. Basically you have your main line of work that you do for the most part of your day, a method to generate income when your money is idle, finding a way to invest the money that you already have to make more and a small task/activity on the side which also generates money for you. Of course in the end it’s about living comfortably and I’d say this can help in doing so as it can make you more confident about generating an income should a situation arise where one source is no longer a viable option.

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