2 Simple Strategies For Making More Money

Calgary Financial Advisor

They say there is nothing new under the Sun. True, most people just do not know what's under the Sun. Just think of what you could do if you had more money...Finally go on that family vacation. Go to more movies. Buy a new mattress. Here are 2 strategies to help you earn more moola.

Strategy # 1: Buy low and sell high. There are always people who need quick cash and are willing to part with their valubles at a discount in order to sell them quickly. This presents great opportunity for keeners. Numerous times over the years I have bought a motorcycle or vehicle at a great price and sold it 2-3 years later for more than I paid for it. Knowing the value of things (which you can easily learn by doing a bit of market research) enables you to find things being sold at less than their true value. You can buy these things, use them for however long you need them, and often you will be able to sell them for the same or even more than what you paid for them. This is a great way to have more money in your pocket and all it takes is a bit of time and effort on your part to educate yourself. 

A few years ago we bought a condo in Arizona where the owner had abandoned a renovation. To us, it had "discount" written all over it. We bought it and invested $5000 to finish the reno. Since then, we have made several thousands of dollars in rental income and the place has nearly doubled in value. Other people's mismanagement of their assets can become your greatest opportunity. These opportunities exist everyday and you have to be ready to act wisely when they present themselves.

Strategy # 2: Always ask for a discount. Saving money is as good as making money. I can't tell you how many times, in a half joking manner, I have asked for a discount and got it, even at big box stores like Rona. "Sometimes you have not because you ask not." It doesn't hurt to ask!

One of the first lessons we learned about financial success is to have many sources of income. The second is learning to live beneath your means in the good times so that you can not only survive but thrive in any economic downturn.

Keep an eye out for 2 more strategies in a few days...

Let's grow your Wealth! Together we will create strategies to make your money work for you, free up cash flow and increase your peace of mind. To find out how, click here.

 


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