Seriously, are there ways to make extra money?

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Seriously, are there ways to make extra money?


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Old 06-27-2007, 07:01 PM
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Seriously, are there ways to make extra money?

That aren't scams. Are any of those things you see advertized legitimate? Of course not. So what can we do to make some extra money?


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Old 06-28-2007, 09:06 AM
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Work an extra job is what I was doing for several years at one stage earlier in working life - you might even find that something like being an art class model is in demand if you're game - heard of that too when younger but did not get around to being game or not, but it ought to be easy enough.

Then with extra cash if you have managed to keep it, there's always investments for the longer term in shares or real estate but always be prepared short and even mid term negative results.

But you could do far worse than study Warren Buffett - http://www.warrenbuffett.com.au/inde...FRs_ggodIjtvCw I read somewhere that his 28% compounding return had meant that investors who had put something like $1000 into Berkshire Hathaway back in about 1980 or so now had it worth several millions.

There are probably a few other examples about too, even in Australia like the shopping centre West.... whatever developer? who started off with next to nix a couple of decades or so back.

But to expect quick riches in investment, there'll be greater risks and in other schemes obviously the scam experts you allude to.

Locally for investments, you could do far worse than have a look at investment bankers like MacQuarie, and there's Colonial Mutual who are now part of the Commonwealth Bank - through organisations like that you can get into a spread of investments via managed portfolios where you will not subject yourself to share market face personal worrying and sleepless nights.
Another much smaller organisation that also has various portfolios is Australian Unity, primarily established for health insurance and one of the cheaper insurers.

Through the managed portfolios type of arrangement you can usually open an account with $1000 - 2000 minimum deposit and add in say 1000 increments, sometimes less.

How do you get that starter other than saving from the extra work? - if working towards future wealth is a high priority, start with being a razor gang on your own finances - less on food via less takeaways/eating out, taking your lunch to work - have a gym membership - why not take up an outdoor exercise plan - go have a look in Op, Community, and Red Cross shops and you be amazed at what trendy clobber is about real cheap - perhaps for next to nix or a few hundred dollars you could get a heap of stock and set up a market stall - that could go anywhere!

And with stuff like modelling, markets etc., that could be fun and more fun you have, the more you'll probably end up with.


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Old 06-28-2007, 04:13 PM
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You mean, I'll have to work? No quick get rich scheme? I take your point about cutting back on spending, but there are a lot of things I can do without before I have to hit used clothing stores.

I can't do second job because the one I have sometimes requires extra, unpredictable, and unpaid extra hours. Of course, if I find another job, that would help.

I've never really done well at saving unless there is something extra I want. I've never tried to cut back in order to invest.


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Old 06-28-2007, 07:00 PM
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Yes, it's going to involve work. Is there any kind of freelancing you could do? Writing, or something else that's more flexible?


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Old 06-28-2007, 11:36 PM
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Hitting the used clothing stores can be fun and as I alluded to, things happen better when you're having fun.
And like I said, maybe you can stretch it to a reselling enterprise.
There are some young no longer poor mothers about who are making heaps out of recycling baby gear.


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Old 06-29-2007, 04:58 PM
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The baby gear thing I can see. Babies never wear anything out, because they grow too fast. I have lots of cousins, over twenty, and I think there were only ever two or three cribs in the family. Baby clothes got passed around the family and the neighborhood. Now that families are smaller, there are a lot of people with outgrown baby things and no one to give them to, and another lot with no one to borrow from.

But I digress. Maybe I could sell things at flea markets.


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Old 07-02-2007, 01:49 PM
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I like the idea of trying something out to see how it goes. e-bay sounds like a good way to start, without having to invest too much money or time. Maybe I have something in the back of the closet that I can flog.


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Old 07-04-2007, 07:12 PM
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A 'free trial' is a good idea. But if it doesn't go well, how do you know whether it's because the business idea isn't good, or you just need to put in a little more time. It would be easy to get sucked in.


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Old 07-05-2007, 07:11 PM
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I guess you don't. But it would give me an idea of how much work is involved, and I'd have more data, if nothing else. And if I sell something, I'll have a little bit more money.


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