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ways to make money

 
 
Reply Fri 18 Jun, 2004 02:53 am
what are the ways to make money?

1 sell your labour.

2 sell your skill.

3 make something with your labour and skill and sell that product.

3a Get something someone else has made and re-sell it for more.

4 own property and rent it

5 have money and rent it (for interest)

6 own a copyright and get royalties.

7 be a official body and charge tax.

any other ideas?

any other ideas?
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Type: Discussion • Score: 1 • Views: 3,384 • Replies: 23
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Anoxia
 
  1  
Reply Fri 18 Jun, 2004 04:46 am
Buy and sell on ebay.

Pawn shops make a LOT of $$$
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GeneralTsao
 
  1  
Reply Fri 18 Jun, 2004 07:39 pm
8) own a printing press and really good plates.
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GeneralTsao
 
  1  
Reply Fri 18 Jun, 2004 07:41 pm
Seriously, though:

8) Invest your money in banks
9) Invest your money in businesses
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Craven de Kere
 
  1  
Reply Fri 18 Jun, 2004 07:42 pm
10) Create a medium through which others wish to hawk their wares and earn royalties/advertising/commission
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needsandwants
 
  1  
Reply Mon 21 Jun, 2004 02:48 am
anoxia...ebay would be...mmmm number 3A, I think.
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needsandwants
 
  1  
Reply Mon 21 Jun, 2004 02:51 am
Graven...yep, good one,

lets call that "acting as a commisiond agent" (for 1 through 9)
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needsandwants
 
  1  
Reply Mon 21 Jun, 2004 02:53 am
GeneralT...yours is covered by number 5.

just thought of another...11)selling risk relief....

(like insurance).
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Craven de Kere
 
  1  
Reply Mon 21 Jun, 2004 02:55 am
But that would be number 3, which really should be renamed to selling a service.
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needsandwants
 
  1  
Reply Mon 21 Jun, 2004 03:06 am
my head hurts.

wait a second.

maybe insurance is really closer to "renting your money"...

I mean it's the money that is being put to work on the idea that it might or might not be claimed upon.
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Craven de Kere
 
  1  
Reply Mon 21 Jun, 2004 03:13 am
Some will fall into more than one, for example, loaning money is also a service.

I think it's a big enough class of a service to warrant it's own category though..
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needsandwants
 
  1  
Reply Mon 21 Jun, 2004 03:26 am
ok now more to the point...

what exactly is it that Donald Trump does to get those pennies?
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Craven de Kere
 
  1  
Reply Mon 21 Jun, 2004 10:20 am
3 and 4 are the main ones I am aware of but I'm sure he dabbles in many.
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needsandwants
 
  1  
Reply Wed 23 Jun, 2004 02:50 am
a landlord and a developer.

It's sounds so simple.

he must be good at it.
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fachatta
 
  1  
Reply Wed 30 Jun, 2004 02:46 pm
Go to Vegas.

Sell Calls or Puts on a stock (if you don't have any money up front, but still want to gamble)
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needsandwants
 
  1  
Reply Mon 5 Jul, 2004 12:50 pm
Funny you should say that...

the Don has an interest in casinos also.

Have you seen that show "the apprentice"?

I can't believe how immature and petty it gets in the boardroom.

and I mean that for both sides of the table...
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DKay
 
  1  
Reply Mon 6 Sep, 2004 05:46 pm
Student money making
This is for the UK! Students over here, we get a grant off of our Local Education Authority to put us through University (currently £4095 outside London, £5095 London student finance support excluding HE Grants and Tuition fees (which are also covered by the government's LEA))... and banks knowing they can trap ignorant students offer amazing deals to snap up students looking for an account to manage their student finances. One massive incentive is the interest free overdraft option.

Provided you are 18 and have a valid student account, do what I am doing! If you think you can get by on the amount the government is provising (I know I can I am in surplus of £1000 at the end of the first year with no overdraft) then draw the maximum amount interest free overdraft every year and put the money into a Cash ISA.

This can be a mini or maxi cash ISA, mini is usually more flexible in the major UK banks. ISAs are government encouraged savings accounts which enable you to earn a higher yield from the non-taxable interest payments paid by the bank to you in accordance with the base interest rate.

Basically, from putting the interest free money you have gained into a high interest savings account, at the end of the degree course (mine is a BSc 3 years long) pay back the exact amount money u overdrafted and you are left with the interest. It is yours to spend! Of course you could also look at other ways to invest such as investing into stocks and shares or even buying government bonds/gilts... the choice is yours! Whatever you decide to do, EARN INTEREST FROM THE INTEREST FREE OVERDRAFT SCHEME! IT WORKS!
0 Replies
 
jespah
 
  1  
Reply Tue 7 Sep, 2004 07:41 am
Looks a lot like you're kiting checks, which is illegal in the US and probably also in the UK.
0 Replies
 
GeneralTsao
 
  1  
Reply Tue 7 Sep, 2004 07:57 am
I wonder if the "free overdraft" is another way of stating a "free loan"?

If it's a loan, Dkay is leveraging, if it's purposefully overdrafting, I agree that might be kiting.

In either case, most people of that age wouldn't have the self-control to NOT spend the money, thus putting themselves into a more precarious debt position.
0 Replies
 
DKay
 
  1  
Reply Tue 7 Sep, 2004 09:50 am
lol oh dear... I'm doing something illegal then... oops. Well as for the purposeful overdrafts, (or loans, yes) then I suppose I'm guilty... however looking at my options, it is not against the law to take the maximum student loan and spend it (however I will have to clarify whether I can 'spend it' by depositing the money in another separate savings account. The repayments are agreed mutually from the student to bank and they are flexible.

In response to the self control point, this suggestion was only designed to be applicable to those with self restraint... Blowing the cash on Bond and Regent Street from day 1 will mean this advice just doesnt work!

As for the loans, there seem to be many many much more experienced people in the world of finance than me so now I'm asking for help! The overdraft scheme in the UK for my bank, HSBC works by offering £1000 in the first year, then £250+ every year. I am allowed to spend the money on whatever ventures I like apparantly, does this include locking the cash away into an interest earner? All the replies are appreciated by the way! Thanks every1!
0 Replies
 
 

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