Here are some articles that caught my eye this week…
I believe money is a multiplier. If you are greedy, having money will just make you even more of a miser. If you are generous with the little you have, wealth will enable you to be outrageously generous. If you are not happy today, having more money will not make you happy.
I believe in mutual funds. I understand why some folks are hesitant about investing in the stock market. Stocks do go up and down, and more often than not the bad days make headline news while the good days are buried deep in the financial section somewhere, so we are left with a perception that stocks are dangerous. And I will agree that it is very risky buying stocks in single companies. Even great copanies sometimes run into difficulties and sometimes go out of business. The beauty of mutual funds though is they provide a very easy way to own pieces of hundreds of companies at once. While one company in the mutual fund may be going broke, chances are there are others who may be having their best year ever. By spreading the risk over hundreds of companies, your have a much safer long-term investment.
How many of these habits can you relate to?
We have had a B.J’s Wholesale membership for many years and have saved a great deal of money by shopping there. The key though is in knowing prices. Not everything is a good deal. For some things the price isn’t much different than you’d get at the grocery store, but other things are significantly cheaper. The other key is making sure you will actually use what you purchase. Warehouse clubs are notorious for selling the 10 pound jugs of mayo. It may be a great deal per ounce, but if you only use a fraction of it before it goes bad you really didn’t save.
If you need a little extra income to get your debt snowball rolling, save for someting big, or just to create a little extra margin each month, selling some stuff on E-Bay is one way you can do it. I have played around with E-Bay some in the past. I do agree that you can make money selling on E-Bay, but I will say it is not a magic bullet. It takes time and effort and one of the keys is finding the right things to sell. You want to find items that will allow you to make enough profit to make it worth your time. That said there are many people who have built very nice little side businesses selling on E-Bay.
If you want to achieve different results, you need to learn different behaviors. One way to do that is to find a mentor who can help guide you. The good news is there are many ways to find a mentor. Finding a successful person you can physically meet with is great, but if you don’t know someone who can help you there are many other sources of mentors. Books, blogs, classes, podcasts, tv and radio. All of these are great ways to find people who can help you change your thinking.