What can you do if you have extra money? Well, who has any extra money these days? What to do with extra money depends on your being able to actually save money and then to invest or spend that money wisely in order to further increase your financial gains. Thankfully, it may not be nearly as challenging as you think.
In the first part of this article, we will show you how to ensure you can always have some extra cash around and to find free money in areas you may never have considered before. After that, we will show you some of the options that you will have regarding what to do with extra money after you master the savings plan.
How To Save An Average of $5000 Dollars Per Year
Would you enjoy an additional five thousand dollars a year added to your budget? Yeah? Of course. Right? The average person spends more than five thousand dollars a year on impulse purchases. If you are like most people, an extra five grand a year will definitely help you to have extra money.
What? You have never heard of impulse buying? Never heard of impulse marketing?
No. Because companies figure if you knew the deal and thought about it, their sales would go down by about five grand a year for each customer. Of course, they do not advertise that.
Marketing companies around the world are constantly trying to improve ways to part you from your hard-earned income. Did you ever notice how all the most expensive items are within easy reach at the store, but the generic brands are generally in more difficult areas to reach? Do you think it is a coincidence that all the candy in the checkout line is conveniently within the reach of small children?
If you stop in the convenience store on the way to work to grab a cup of coffee, for a dollar, that would have only cost you a few cents at home, do you ever look at those doughnuts and other pastries sitting next to the coffee machine? Of course, you do. That is why they are there.
When you grab that beer or soda, that bag of chips sitting right next to it looks like it would go so well with that cold beverage. And then you get to the counter, so well, may as well grab a pack of chewing gum since it is right there, and it is only a few dimes and nickels. But that is exactly how people find themselves not ever being able to have extra money.
These are all impulse purchases, and many people think they are trivial and will not even bother to write them down. It was only a buck. It was only fifty cents. It was only a couple of bucks. Not worth getting uptight in terms of the budget, right?
But remember, if you can cut out those expenses alone, you may very well be able to save up to five thousand dollars a year, or more if you are just a cut above average. An extra five thousand bucks a year should help to take a lot of the sting out of budgeting, even during these tough economic times.
What To Do When You Have Extra Money
Yard sales, flea markets, second hand stores and even auctions are probably not the first things that come to mind when people discuss investment opportunities, even for the poor. A hardback first edition of Harry Potter and the Philosopher’s Stone has sold at auction for £68,000 ($119,380) in England. Where did it come from? A yard sale.
What is that old rusted out John Deere pedal tractor worth? A pedal car tractor that sold at a flea-market in Florida for $800 was sold again for $80,000. A tidy little profit even if the original cost was a bit expensive. Would you take a cash advance loan for a quick thousand dollars if you could get eighty times that amount in profit?
Granted, deals like those are going to be few and far between. That does not mean that you cannot still earn some quick and easy money with a little bit of effort, and often what amounts to a very small investment. Many yard sales will have boxes of old books, old comic books, old toys, and other smaller items for a small price each, or an even smaller price per unit if you go ahead and buy the whole box.
Can I Use Cash Advance Loans As Extra Money For Investments?
It actually is possible to use cash advance loans to start building your supplemental income or even an online presence. However, it probably is not the most common. If for instance, you found something that you knew would be able to return a healthy profit, but you would likely lose it without finding a same-day loan somewhere, it might be a viable option.
It is always a good idea to carefully assess your risks before you make any investments, even if they are relatively small by comparison. Virtually everyone will have plenty of checks in both the wins and losses columns, so you do need to be prepared to get less than what you hoped for on occasion. However, there is always that chance that you will be the next yard sale millionaire.
If you are still wondering what to do with extra money that you may have saved over the course of time, you can always invest in online courses or other programs to assist you in moving your business or your career online. There are a great many courses and other educational opportunities online, usually for a relatively small fee.
If you have found yourself wondering what to do with extra money when you have started saving up more and more every week, you may consider investing in business or educational opportunities in order to allow yourself to enjoy the capacity to earn a better living and constantly earn extra cash from the comforts of your own home.
The key to your long term success is making sure that when you think about what to do with extra money, you do not waste it frivolously, at least at first. Take some time, invest your extra income wisely, and learn how to put your money to work for you so you can enjoy income streams of what is effectively free money in your pockets. After that, it should become much easier to actually enjoy the many benefits of following these simple saving concepts.