Wealth Flashcards

1
Q

Keeping Costs Low

A

1) Find a job within waling distance
2) Cancel anything non-essential (phone, relationship, car, etc.)
3) ALWAYS ask for a discount
4) Make sure you’re in good debt standing every year (IRS, local police, loans companies, banks)
5) Use Public Transportation
6) Stay with family and do Chores for them
7) Move IRA to lowest commision Bank you can find
8) Learn to Garden
9) Buy in Bulk and from rebate retailers
10) Avoid spending time with spend-happy people
11) Chart and keep track of your spending
12) Make the Purchases you need as SOON as possible so that you don’t have money left over
13) Make envelopes for your budget
14) Start eating next to nothing

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2
Q

Maximizing Income

A

1) ALWAYS be looking for a better job
2) Set a goal to work a double EVERY DAY
3) Buy things that produce income
4) Create an ROI opportunity
5) Invest your savings

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3
Q

Investment Opportunities for Savings

A

1) Automated Investing
2) High Interest Savings Account
3) Purchasing Collectables

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4
Q

ROI Opportunities

A

1) Crowd-funding Campaigns
2) Things you can use to help create something you can sell
3) Locations from which you can sell to people
4) Buy lower items you can sell online
5) Hire Professionals to perform a local service

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5
Q

Income Opportunities

A

1) Things you can rent out
2) Things that naturally produce something profitable
3) Things that allow you to profit from certain events/circumstances
4) Things that dispense a product or perform a service

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6
Q

The only two costs that you absolutely need

A

1) Survival Costs (Food, Shelter)

2) People (Communication, Gifts, Transportation)

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