People often forget that they can buy things that make them money.
The old saying, “You have to spend money to make money,” is still true.
When you pay your bills and still have money left over, it’s a great feeling for the first time. You’re not worried about money! You can put a down payment on a car or buy a new PlayStation. You could go to a show or have a really nice dinner, or you could even do something nice for your friends.
The problem with the first two is that you’re buying things that lose value over time. With the last two, you’ll only be happy for as long as the meal or show lasts. You have already spent money that you won’t get back.
There’s nothing wrong with spending money on things we want or on things that make us happy. Almost all of us do it almost every day. There are other ways to spend money, though.
People often forget that they can buy things that make them money. There are more ways than you might think, and it’s not as hard as you might think.
It can be as easy as buying something like guns, gold, or art whose value has stayed the same or gone up over time. Or it could be as complicated as buying a whole company. You can even find ways to use things like a sewing machine that are just sitting around to make you money instead of doing nothing.
Here are some ways you can spend the money that is likely to give you a good return.
1. Dispensing Machines
Vending machines don’t cost very little. The price ranges from $3,000 to $7,000 for a new one. But you can usually find good deals on them online, and sometimes you can get them for as little as $1,200. Finding a good place to put it will be the hardest part. You will have to give the owner of the property where you put it some of your earnings. You also have to pay to keep it stocked and in good shape. Also, you should think about what the people at that place might need.
Set your profit margins at a good level, and choose a place that gets a lot of foot traffic. There are a lot of guides on how to get started online. YouTube will help you (although these days I prefer Rumble). Most of the time, you can start a vending machine business for about $2,000. Grow your business by buying more vending machines with the money you make.
2. Three-dimensional printers
With this coupon, you can buy a great 3D printer for just $100. I bought eight of them with it. There is a learning curve, and each roll of plastic filament (which is used to make things) costs about $20, but you can make a lot of things with just one roll. You can sell anything you make, and you can make a lot of things. The cost of making one item varies, but in general, materials and electricity can cost as much as $2. You can sell it for $15 or more, depending on what it is. That’s an amazing return on investment. Just be willing to learn how to use the software and hardware. I got good at it in less than a year. I might have spent between $1,500 and $2,000 on materials and filament. I’ve easily made five times that much. Because of the technical challenges, this market isn’t yet full. Most people won’t take the time to learn how to use a printer; they just want the product you make. Many of the items on Thingiverse.com are free to print. Just make sure that the item says that it can be used for commercial purposes.
3. Open an Internet store
Print-on-demand used to be pricey, take a lot of time, and are hard to make money from. Now it’s the other way around. Making your own product designs and shipping them to customers has never been easier, faster, or cheaper. Printify is my secret weapon. The service isn’t very expensive, but the quality of the items is great. You can quickly list your item and upload its design. Set your profit margins at the percentage you want to make. I think you should get a business credit card that gives you cash back and use it for all of your purchases. Then you get money back on money you were already planning to spend.
4. Invest in Dividend-Paying Stocks
I’m not a financial advisor, so it wouldn’t hurt to talk to a pro before making any investments. That said, I like dividend-bearing stocks. I like exchange-traded funds (ETFs) because they are a basket of industry leaders and tend to be safer than direct stocks. But once you have enough money invested, many stocks that pay dividends can become a source of income. And why not use the money you make from your vending machine or 3D printer for this? But even if your stock or ETF doesn’t pay dividends, the market still has a lot to offer, with an average annual return after inflation of 7% (though not in 2022). The key to being a good investor is to connect the stock price, which shows how much people think a company is worth, with the real value of the goods or services it sells. If a company has real-world value, a product that people love and can use, or a service that others can’t match, it might be a good investment.
It’s All About How You Think
That should give you enough ideas to at least start thinking about how you can spend money to make money. And it might not be as hard as you think it is.
The truth is that anyone can start their own business. All you need to do it well is a passion for creating value, creativity, initiative, the ability to deal with uncertainty and risk, a little bit of money, and, most importantly, the ability to figure out what other people need and meet those needs.
This may sound like a tall order, but once you have the right attitude, you’ll be amazed at how many chances you’ll get. And the best part is that once you do, you won’t just be making extra money for yourself; you’ll also be making everyone’s lives better since entrepreneurship is what makes a society grow and thrive.
FEE’s Lawrence Reed once said, “A society without entrepreneurs is a society of stagnation and decline, of routine and poverty, of bureaucrats and paperwork.” “Because entrepreneurs are consummate change agents.”
So, the next time you get paid and still have some money left over, think about spending it on something that will make you money. It could be your first step into a completely new world.
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