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Sunday, September 21, 2008

How To Use Your Money to Make More Money

Do you know that there are ONLY two ways to make money?

FIRST METHOD TO MAKE MONEY: This is an obvious method - you go to work and trade your hours of labour for money. This is what the greatest percentage of the population does. If this is ALL that you do to make money then you are constrained by the number of hours that you work and the hourly rate that you are paid. If you are on a set hourly rate then even if you could work all the 168 hours in every week you would never be able to get ahead. So, really, all you can do is to try to find a job with a better hourly rate. In reality, this is time working AGAINST you. If you don't commit the hours you will not get the return (pay packet).
SECOND METHOD TO MAKE MONEY: This is the best, easiest and most lucrative way to make money. You save some of what you earn then you INVEST it to make more money. SMART people use this method.

Now, assuming that you are more than acquainted with the first method - And let's face it. Who isn't? - let's take a look at the second money making method - investing.

When you invest in something you supply a certain number of dollars to a program in the expectation that the program will multiply that money over time to make more money. In effect, time will work FOR you rather than against you.

So, how do we make money using this second method? How do we invest?

There are many forms of investing money. Examples of this are:

compound interest (money in the bank),
precious metals (gold, silver)
real estate (bricks and mortar)
shares (in companies)
business (as the owner NOT the employee)
collectables (such as art or rare stamps or coins)
anything that is rare and valuable (almost anything that is rare is valuable)
new technology (the latest gizmos and gadgets)
products that are duplicatable (CD's, books, reports etc)

The best thing that you can do to get out of the 9 to 5 rat-race of trading your labour hours for money is to SAVE some of the money that you are paid and INVEST it wisely. Eventually, over time, you will make more money through your investments than you will by working hours. Then, when your investments are creating enough money and wealth, you will be able to give up work forever. Wouldn't that be nice? Well, you can do it. All you need to do is make a decision, educate yourself and start.

To discover more about using money to make more money visit: NET WEALTH.

AP - A Hong Kong toddler has developed a kidney stone after drinking Chinese milk - the first reported victim outside the mainland affected by a widening scandal over a toxic chemical found in baby formula and other Chinese dairy products.

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