Investing Money - my suggestion
If you're thinking about investing money, I suggest you invest in you, your business and your future. When the stock market surges, people come out of the woodwork to encourage you to invest in stocks.
Sometimes that’s a crazy idea.
Why invest in someone else’s venture in the hopes of getting 20% return on your investment, when you could invest in your business and get infinitely more return on investment?
I made an investment in my own business and it provided 100% payback of my original investment every month for 7 years. Who is offering that in the stock market?
No one. Not even the scams!
Such an offer can’t be made because there are too many people that have to share the money. When you have your own business, there is only you and that pesky tax collector that you have to share the money with.
Best of all, investing money in your own business allows you to control everything that happens in your business. You control for whom you work, when, what you sell, the profit margin, where you work, the expenses of the business, and your time off.
Do you get that kind of say-so at those stock holder meetings? Hell no!
Now, does that sound like a good idea for investing money and making money? Absolutely. It's also a good approach for getting out of debt. When I started my business, I did both - got out of debt and made accumulated substantial wealth while I was at it.
Having my own business allowed me to doubled my salary instantly. If that isn’t the way to put debt behind you, I don’t know what is.
Starting your own business isn’t for everyone, but it might be just right for you. My own enterprise was key to getting out of debt for me. See my home-based business profile when I was involved in management consulting to get an idea of how I did it.
Even when investing your money in something as close to home as your own business, you still need to be very careful. Put a good business plan together so you know what you're doing before you invest a dime.
Done with Investing Money, back to Mindset of Frugality