|There are two frequently asked questions: "How
can I cut costs and have savings in the current economy", as well as "How
will I make money in the current economic climate? As usual, history
is our best teacher. Throughout the "Great Depression, many people lost
everything they had, yet there are others who created lots of money during
the same period. Certainly time in history is actually what we should wisely
make of it.
Years ago, a good buddy of mine shared personally exactly how his deceased wife have make her fortune throughout the "Great Depression". In the following paragraphs, I will reveal to you the actual technique how she achieve wealth throughout that difficult period.
My pal stated that his spouse had been always been very frugal... wealthy or poor. She had been much more frugal that my friend wish to be. Be aware that saving had been a vital component to her remarkable financial achievement since it provided her with investment money.
At that period of time, she was quite rich and could pay for lots of things which other people couldn't afford. He personally tells me that I should only spend money on things that are truly important to me and never on things just to make an impression on other people. For instance, he like good clothing as well as cruises, therefore he will spend cash on those things and activities while her wife would not. However, he drive a modest car and lived in a modest home that is free of home loan.
She usually ensured that she had thousand of cash available. She didn't keep this cash into any bank. So when the actual depression strike the economy, she had cash ready for investment while many didn't.
Be aware that due to the devaluation of money to inflation, many economists tend to recommend you to keep gold or silver instead of cash. Nevertheless, prices tends to be fluctuating dramatically for both of these metals, therefore it is important to keep yourself informed.
Once the economic crisis strike, she sense the many opportunities for investments for pennies on the dollars she had kept. For instance, my pal stated his wife started purchasing cheap stocks for some pennies. Once the market recover, some of these stocks still remain worthless while others just shoot up, making her wealthy.
Many people during the economic crises required cash for meals a lot more than they required gasoline for their car. Therefore, she purchased her car along with other products that these people had to sell for the needed cash. Once the market of these prices returns, she will start selling them for a profits.
As you can see, it really not a complicated strategy to be rich. However, many people just overlooked this simple very effective money making strategy.
Quotes for the day:
"Miracles happen everyday. Change your perception of what a miracle
is and you'll see them all around you."
"We're never so vulnerable than when we trust someone -- but paradoxically,
if we cannot trust, neither can we find love or joy."
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