3 Ways To Grow Your Cash
Many people want more money. Few people have so much money that they are eagerly satisfied with their life. We have collected three ways that will make you far more financially independent than your friends and neighbors. Be warned. There is no easy path to riches. Money doesn’t grow on trees. You have to be willing to be different.
1. Unpopularity — One of the first ways to destroy your portfolio is to copy the failures around you. When your neighbor buys an expensive luxury car on credit, you do too. This kind of financial behavior is irresponsible. It ignores the basic laws of economics. If there is a scarce quantity of a highly demanded thing, the price of buying it will be high. The price of selling it will be high. It is good for the seller of the luxury car, bad for the buyer. Most people enter the market as buyers initially. They start with nothing, and they want something. If you want what your friends do not, you will have to accept some pain initially. When your friend buys the expensive luxury car, you settle for the simple little import. Why? You do not have the hard cash for the expensive luxury car. You do not want to be in debt slavery to a creditor. Debt is not the path to prosperity; it is the road to serfdom. You are responsible for how you live. Choosing the unpopular route is not fun at first, but it leads to prosperity. The worker who works overtime gets the promotion. The college student who buys the cheap car has enough leftover to pay for an engineering degree.
2. Sell to People Who Desperately Want What You Have — This is where you exploit the irrational prejudices that keep other people from becoming wealthy. Your abilities and skills will be rewarded far more when you find the market that desperately wants them. Artificially trying to create demand is a strategy that government lobbyists resort to. If you do not have that kind of political power, it is necessary for you to find the market that desperately wants what you have. They will pay you dearly for it. Ask yourself what the people around you want. Most people want food, shelter, clothing, pleasure, safety, fun, or fast. If any of your behaviors or abilities match those things, you have a natural market everywhere. If not, you will need to find a market that really wants what you have to offer. This requires work. The English teacher will make far more moving to China than staying in the United States. This is because the cost of living is far lower, and the people in China desperately want what the English teacher has to offer. Finding the market that is craving your product or service is the challenge that most people are not up to trying. It is worth the effort, however.
3. Buy Low and Sell High — This is an investment mantra that many people ignore. When the Apple stock is inflated, that is when they buy it. They fork over $119.69 a share to buy success that is already made. They go in debt to do so. The wisest investors find success before it is made. This requires doing your research. It requires going to Africa when your peers will not. It requires the pain of buying the cheap discount pasta when your friends get theirs from the Italian gourmet store. At the end of the month, however, you are smiling, and they are crying. Why? You are not in debt. Once you have bought low, the successful investor sells when the item they have is highly demanded. They look for the market that highly demands what they got. A car dealer buys an old junky car for pennies on the dollar. He looks for a poor couple that considers any car heaven. He jacks up the price and makes a big profit, along with the direct lender. This is the essence of buy low and sell high.
By following these three steps you’re sure to increase your cash to help you be satisfied.