Make Money Online

In this blog you can find useful information about how toВ make and safe money.

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.

fromВ wikipedia.org

Post by Darren Rowse

I’ve done a bit of an update on this post so am putting it back on the front page as there are quite a few first time readers on the blog today as a result of the Australian Blog Awards (welcome if that’s you).

I’ve been reflecting this week about the amazing diversity of opportunities that are opening up for bloggers to earn an income from or through their blogging.

I’ve long advised that bloggers seeking to earn an income from blogging spread their interests across multiple revenue streams so as not to put all their eggs in one basket.

The wonderful thing is that this is becoming easier and easier to do 2005 has seen many options opening up. I thought I’d take a look at some of the ways that bloggers are currently making money through blogs.

http://www.problogger.net/archives/2005/12/06/how-bloggers-make-money-from-blogs/

InВ any order - money, time (or timing), and information.

Money
It doesn’t have to be cash, it could be equity, a cash-bond, a loan. It may have been saved over many years, or it may be a windfall, a gift, an inheritance. Perhaps you are borrowing 100% (or more)? Or not borrowing at at all. Perhaps you’ve struck a deal such someone else pays all the bills. But ultimately any “investment” has a money component - at the start (getting in), as it is happening (getting through), and certainly at the conclusion (getting out) (profits, please!).

Time / Timing
Do you buy and hold? Ride the boom and dump? Reno and sell? Flip? Wrap? Build from the ground up? Redevelop? Time (or timing) is essential. If for whatever reason the timing of a project isn’t right for you, then you cannot do it. If you know a project will take a given amount of time (assuming you are beginning with a specific end in mind) and you haven’t got this time, what do you do then? Time to make things happen, to coordinate things, just being in the right place at the right time - we all need these things.

Information
Research, market smarts, knowledge, facts and figures, projections, forecasts, support networks, costings, quotes, forums, discussions, chat rooms, seminars, gut feelings, hot tips, rumours and innuendo even! Possession of information, either by design or accident, and then using this information advantageously* (perhaps before the masses do) is what sets out smart investors from ordinary ones.

http://www.investmentblog.org/

In Robert Kiyosaki’s “Guide to Investing” he requests readers write a plan to be each of the following:

• To be poor (to me means the “default” be a worker and consumer plan, followed by the pension)
• To be secure (to me means the good job, reasonable super and some the low-risk consumer investments plans a financial advisor may offer, ie a self funded minimal pension with a bonus of a bottle of red each week)
• To be comfortable (which I call financial independence, enjoying the good stuff within reason)
• To be rich (to have more than enough, a life of abundance for yourself and for your children and grandchildren)

Since I am actively investing in property (a managed development and holding my other 2 investment properties), I have come to the conclusion that IP is fundamentally boring, which is neither good nor bad, and after some consideration on the subject, the degree of excitement in IP would probably correspond to a degree of doing the wrong things. This forum shall I say keeps the flame alive and the mind focused from distractions. But I digress.

Always Leaning thinks I have a) and b) in the “bag” and working towards c) which I believe I will achieve using with my current plan of buy, develop or renovate, hold. Being financially independent however will take at least 10 years and more like 15 to execute.

However following the request in the “Guide to Investing” to make a plan to be rich that I want help with, presently I have very few “ideas” and no good ideas how to achieve being “rich”. With my current strategy it doesnt expand/scale up to allow me to be “rich” from property investment, given my current income (low 6 figures).

Rich
What is being “rich” for me? I think rich is $5M of wealth/equity and using around $5M of financial leaverage total $10M, with net income of 4% and average of 6% growth, my combined income and asset base and wealth would be growing at $1M year => this is rich (for me). $1M a year of wealth is more than I could spend and would offer a life of abundance for me and my family and also allow for me to expand upon my current charitable contributions.

http://www.investmentblog.org/

I’ve used the term Financial Hygiene a few times in the past. I consider someones “Financial Hygiene” to be the set of habits, attitudes and behaviours that they have towards managing their finances.

It occurs to me that our society is developing sloppier and sloppier financial hygiene.

I was wondering what people think are good behaviours, traits and activities when it comes to personal financial hygiene.. and on the other side of the coin, what are bad behaviours and traits that you observe in colleagues, family etc?

A few places where I could do better are:

1. More prompt payment of bills
2. Accurate notation of expenditure
3. Keeping a CLOSE eye on Bank Account and Credit Card activity
4. Quickly filing tax returns

A few places where I see some of my tenants/colleagues/friends could do better are:

1. An abandonment of Interest Free deals and reverting to cash for whitegoods.
2. “Forward Planning”, having a realisation that car tyres (for example) DO wear down and that you need to PLAN to have the money to replace them in 2 years time.. rather than bemoaning the unexpected bill you’ve suddenly been hit with..
3. Realising that CARS suck and they’d probably own a house now if they hadnt bought that new WRX last year..

It seems to me like we’re descending into a sloppy, dirty society when it comes to money. Bankruptcy, Cash Convertors, Pay Day Lenders, Interest Free Deals, Credit Cards, new Cars, competitive consumption, mobile phone debt etc..

I guess its always been this way.. one only need re-read the Richest Man in Bablyon to appreciate the same exact set of problems existed back in the 1930’s when George Clason penned the book.. But surely they didnt have to contend with the almost malevolent standard and effectiveness of advertising that now takes place.. the sheer volume of advertising that we’re subjected to and the psychological brilliance that certain advertisers bring to bear in encouraging the behaviour they require from us in order for THEM to succeed (consumption predominantly).

What pearls of wisdom would you pass to your kids as they leave home on how to manage their finances? As investors are we passing on the really big picture (asset building) and forgetting to pass on gems of minutia that are required to build a foundation? Post a comment by clicking the link below!

http://www.investmentblog.org/

Article by Al JacobsВ 

Not long ago I received an inquiry from a visitor to a website on which I’ve functioned as the financial consultant over the past year. The questions, short and to the point, read as follows: “What should I look for in a fund? I recently rolled over a 401(k) into an IRA and right now sitting in a money market account (I’m peeved at my advisor about that). I’m looking for some good aggressive growth funds. One more thing: The IRA is about 6K. Should I put it in one mutual fund, or a couple, or a hundred? Thanks, Kelly.”

As I composed my response, I realized that these questions were reflective of hundreds of others I’ve received over the years. For that reason, I’m providing my reply for the many other Kellys who haven’t yet gotten around to asking them. Here’s what I said.

“Dear Kelly,

“You’ve posed a couple of questions that most aspiring investors should ask, but rarely do: What should you look for in a mutual fund and of equal significance, what belongs in an IRA? You then added that you’re peeved with your advisor that your assets are now sitting in a money market account where they’re no doubt earning next to nothing. Whether you realize it or not, you’ve touched at the very heart of investment and what is lacking in most persons’ understanding.

“I’ll start with your first query: �What should I look for in a fund?’ Let me make an admission. In case you think that I can recommend with uncanny accuracy just which funds will most prosper in the future, the blunt truth is that I cannot. I do not happen to know where the market is going. I cannot tell you whether the technology sector, the international arena, or the service industries will be higher or lower next month . . . or next year. But, understand that neither do the professionals who advise you. By and large they are as surprised as you by what happens. There’s not a one of them that can tell you with certainty whether the S&P 500 Average will be up or down tomorrow. And why should they really know? They all read the same periodicals, take the same seminars, digest the same reports, tout the same rumors, spew the same hyperbole, and regularly exchange identical views among themselves. Is it any wonder that what goes on in the world of investment is, for most persons employed there, unfathomable? You should note, though, that from their standpoint it really doesn’t matter, for their livelihood doesn’t depend on whether or not you prosper. Your advisor makes a living either by charging for advice—good or bad—or by payment of commission upon your purchase or sale of anything. Nor do the mutual fund personnel particularly care whether your assets shrink or grow, for their remuneration is the result of fees their firms take, normally based on a percentage of the total assets managed, which is why each mutual fund strives to increase its share of overall invested assets. Whether a particular client’s assets increase or decrease is without significance. Of course, the counselors’ lives are less burdensome if they’re not required to defend bad investment choices. For this reason, most prefer the index funds. In this way, they cannot be blamed when things go wrong. They’re off the hook since all losses can be attributed to mythical market forces.

“Now that you understand the complexities—and my limitations—we can approach the industry realistically. The concept of the open-end investment company, commonly known as a mutual fund, has been around and mutating since 1924. Over the past several decades it has become the �investment by default’ for most Americans, the majority of whom haven’t the slightest idea what they own, or why. Thanks to effective promotion by the industry, this vehicle has taken on a life of its own, where any suggestion that it’s not appropriate is met with derision. This is the environment in which you find yourself, and if you hope to prosper, you’d better educate yourself. The best way to start is by familiarizing yourself with the elements of the subject. There is a fundamental rule that says: �When you know the details, no one can lie to you.’ For this reason, I’ll suggest that you get your hands on a small and inexpensive book in the Barron’s Business Keys series: �Keys to Investing in Mutual Funds.’ It contains only 158 pages, can be purchased through Amazon for a few bucks, and is exceptionally easy but enlightening reading. Until you’ve read that, you should leave your IRA money right in the money market account where it is. Though you may not realize it, your advisor provided a most valuable service.

“Let me now inform you of a personal uneasiness I have concerning mutual funds in general that you’ll not read in the Barron’s book. My discomfiture is with the evolution of an industry in which the placing of investors’ money seems, at best, a secondary consideration. The fact that a substantial and growing percentage of the nation’s assets is now committed to funds fuels a part of the concern. The rapid growth in the numbers and varieties of funds offered triggers more uneasiness. But it is the synergistic effect, coupled with basic human nature, that could result in unpredictable problems for the economy of the nation.

“I’ll run the risk of asking rhetorical questions. Who are the thousands of officers and directors of the funds? How did the investor’s interests advance when the average fund manager’s annual compensation increased to over $1,000,000 in 1996? What is the background and experience of the multitude of securities analysts employed? Who will benefit from the growing trend in fund mergers, and in what fashion? Is the investor really well served by a fund that merely places its monies in proportion to a specifically designed index or another that simply acquires shares of other funds? What does the scandal that rocked many of the prominent mutual funds in the autumn of 2003 portend for the future of the industry? And above all, who in God’s name is watching the store? Incidentally, in case you don’t recall those events in 2003, you might visit my Website www.onthemoneytrail.com, click onto Newsletter Archives, and read the December 2003 article �Investment Guidelines for the Year Ahead.’ I’ll repeat what I said then. What the future holds for the mutual fund industry is hard to say, but one thing is certain: The fortunes to be made, legally or otherwise, fuel an insidious attraction. The question we must ask is whether it is becoming a self-propelled labyrinth, with few realistic controls, in the hands of persons who will systematically loot the assets with no compunction. If so, the nation will surely experience a misfortune of momentous proportion.

“I’ll wrap this up with my views on what belongs in an IRA account. Contrary to the recommendations you’ll receive from most financial analysts and advisors, a traditional tax-deferred—or even more favorable tax-free Roth IRA—should not be stuffed with mutual funds, whether they be aggressive growth, balanced, sector, or index. My belief is that these accounts are better utilized when they contain interest-bearing investments. Once again there is not room here to get into details. However, if you again visit the Newsletter Archives of my Website, you’ll find two articles there that spell it out pretty clearly. They are December 2002, �Why Bonds Belong in a Retirement Account,’ and February 2003, �Junk Bonds Need Not Be a Crapshoot.’

“Although I’m tempted to provide additional advice and information, I think I’ve given you enough data to more than get you started. After you’ve reviewed the reading material I’ve suggested, you’ll probably have some specific questions. Get back to me then at this site so we can get into whatever follow-up matters that require resolution.

“Happy reading to you, Kelly.”

The starting point of all riches is the development of a prosperity consciousness. You must become a financial success in your thinking long before you achieve it in your reality. Both poverty and riches are the result of a state of mind, and the most important single step you ever take on the road to wealth and financial independence is the decision to change your thinking, to impress into your mind an unshakable belief that you can and will achieve your financial goals. This must happen before anything else happens.

When I was growing up, I was fascinated by stories of successful men and women and how they made and lost their fortunes, and then made them over again. I read about the importance of a prosperity consciousness in the book, Think And Grow Rich, by Napoleon Hill, several times. But I never fully understood what it meant until about five years ago. Then it hit me and I’ve never been quite the same since. Every aspect of my life has improved dramatically, especially in the area of accumulating wealth, since I finally understood what it meant by a prosperity consciousness.

Here are two of the most exciting principles ever discovered in the long search by mankind for the secrets of health, happiness and great personal wealth.

The first principle is this. All causation is mental. All causation is mental. That means that everything that you are or ever will be will be as a result of how you use your mind. You are merely a mind with a body to carry it around with. The entire man made world that you see is simply an expression of thought. Your entire life is an expression of your own thinking. And since the quality of your thinking determines the quality of your life, if you improve the quality of your thinking, you must, you will, inevitably improve the quality of your life.

The second principle is what we call the law of expectations. This law says that whatever you expect with confidence, positive or negative, becomes your reality. If you confidently expect to succeed, if you confidently expect to learn something from every experience, if you confidently expect to become wealthy as a result of applying your talents and abilities to your opportunities and you maintain that attitude of confident expectations long enough, it will become your reality. It will give you a positive optimistic cheerful attitude that will cause people to want to help you, and will cause things to happen the way you want them to happen.

Here are two things you can do immediately to practice these principles in your day to day life:

First Step
Start thinking today in a positive, optimistic, confident way about personal and financial success. Continually imagine what differences it would make in your life if you were financially independent. This is the starting point of developing a prosperity consciousness.

В Second Step
Develop your own attitude of positive expectations. Look for the good in every situation. Look for the valuable lesson in every setback or difficulty. Be positive and cheerful about everything that happens and you will be amazed at the difference it makes in your life.

Article by Brian Tracy

Article by Michael LevyВ 

Many years ago, forty to be exact, I started my own business at the tender age of nineteen. The street markets in and around Manchester England was my happy hunting ground. Every day was an adventure and despite the weather and difficulties of getting a stall on the street market, life was always fun and enjoyable. There was always some comical incident, even when I had to stand in the pouring rain, with no customers in sight. And if there was no amusing event to focus on I created one and made other people laugh.

Within a few years my business progressed and I opened a wholesale textile company. I went on to become a very successful businessman not only making money in my original business, but also in commercial property and the stock market. I retired from the business world forty-six years of age.

After a six year, time-out period, so that I could understand why I was successful with no effort, I reinvented myself and became…… An author, poet, philosopher, motivational/inspirational/financial speaker, radio show host, director, producer and many other labels, within the past five years. How was all this achieved with not a mention of the word “work” in my vocabulary.. Well, you see, I just enjoy everything I am doing and if it is enjoyable, how can it be classed as work?

When I read the headlines in the newspapers describing the corruption and scandals in large and small corporations I wonder why the executives had to lie and cheat to earn money? It is far easier and less risky to make money the honest way, so why do people do things the hard way and end up in disgrace?

What makes some people believe they need a billion dollars to be happy?
Why has greed become so fashionable?
Why in many instances do we seem to treat our fellow human worse than a wild dog? Our animal instincts, although contained in a civilized package, can be savage and uncaring, especially in the business world. It has literally become Dog-eat-Dog.

In life there is always an easy way and a hard way to do everything, so how about I share with you five principals of business that cannot fail.

As we climb the ladder of success there are many other folks on higher rungs who may try to kick us down. There are also those who have not got on the first rung yet who will try and pull us down. So how do we cope in a modern day world of hungry hounds eager to get their hands on as much money as possible any way they can?

Levy’s Five Principals for Prosperity

Principal Number One

Enjoyment.
We should understand the world does not owe us a living. We will succeed or fail by the amount of Joy we have for the project we will call our work. The number one ingredient is enthusiasm and commitment for the job in hand. We have to understand that very few things will go in the direction we desire and the more we practice our skills, the luckier we will become. We manufacture our own luck and to recognizing opportunities is the key to success. Every viewpoint, in every business day, has to be explored. Never say no to anything until we have examined every possibility and outcome. Even if we find that it is not what we desire, we leave the door open for future development. If we are only interested in what we can get out of any action of the moment, we are doomed for failure.

Principal Number Two

Giving
A key ingredient in a successful venture is giving rather than taking. In other words give the best and you will receive the best. If you do not have the ability to give the best, keep on trying different approaches until you can give the best. Whatever you give you will get back in abundance. There are those who have achieved money and status by devious means. They may have all the trappings of the luxury lifestyle, but they do not possess the clear mind to enjoy the fruits of their labor. Therefore, they are not a success to themselves. All the stresses and strains of cheating will one day manifest into an illness. You can mislead other people but you cannot lie to your immune system. So, it pays big dividends to give others a helping hand up the ladder of success.

Principal Number Three

Overcome Adversity.
Enjoy the failures more than the successes. Understand there is no such thing as failure. Each lesson learnt, is a lesson gained. Just don’t keep making the same mistakes. Everything is a gain, gain situation. Negative people are our stepping stones to wealth. The more they tell us it can’t be done, the more energy they give us to get the job done successfully. Adversities are sent to test our resolve. Become a good hurdler and learn how to jump over them.

If we require an answer to a difficult problem we need to solve, this is what we do. We ask any questions we need to solve, a few minutes before we go to sleep and then forget about it. We then go into a sound, deep sleep. The next morning on awakening we may get an idea from out-of-the-blue that solves the issue. If not that morning, then it may take more time to solve. Ask the question every night until the matter resolves itself.

Principal Number Four

Debt free
It is far better to walk before we can run. We must not pile up too much debt. If we cannot afford something then we work a little harder and longer until we have the funds to expand. I know this is not the modern way of thinking and there are always exceptions to the rule, but being debt free sure makes for ‘Peaceful Sleep.’ Being ‘Under Pressure’ to pay bills is no way to live. Our purpose is to enjoy life and our labor must be a labor of love without demands.

Principal Number Five

Enjoy Endurance.
Remember the three P’s Patients Persistence, Perseverance. If we trust in our вЂ?True Self’ then we cannot fail. As long as we are enjoying our business activities in the same way as we enjoy our leisure, success is assured. If it takes a few years more than we thought to achieve our goal, then so much the better, because we have more time to gain extra experience.. It will allow for more time for you to exhibit to people that you are trustworthy and reliable. Integrity cannot be bought, therefore once you gain authentic credibility, everything else you do eases into its appropriate space. It will eventually mean other business people will regarded us as an expert in your field of proficiency. You have mastered time and space.

It is never too late in life to explore our minds links to creativity. Even when we retire from our occupation, we must never retire from life. The secret to retirement is to keep an active mind. I have a friend aged eighty-seven who still enjoys working as a realtor selling apartments. He tells me it makes him feel like a young pup. There are many hobbies we can enjoy and maybe they will make money? Regular exercise will keep us healthy and it also keeps the sex drive in gear. Aging signifies, life is still a joyride to an active mind.

Just one other point.. It is important to note that we will never actual own anything. We only possess what we can take on our eternal journey. We are just renting space and time, so our success is not measured by our bank balance. We live in a materialistic world and to become truly prosperous we need to ascertain that, when we reverse our conditioned minds way of thinking, we find.. ( in whatever form our image-creation observes creativity) A universal spirit guiding us on an authentic life course. What a power-force to guide us and establish an easy way to follow to prosperity.

I don’t know how it is where you live, but over here the house prices are incredibly high. Today it was on the news: “It’s especially hard for people who are buying their first house.” I know my mother bought a house about 13 years ago. Right now, 2 of her neighbours have sold a similar house with a smaller garden for tripple that price. Amazing! It won’t her do any good when she wants to move somewhere else though. Other houses are just as expensive, she won’t gain anything by moving. The only way to profit from it is to sell the house and go live in a rental. The rent prices aren’t sky-rocketting. Well… not compared to the houses that are for sale anyway. It seems to me like a smart idea when you’re old to take the money and have fun with it in the last years of your life.

My girlfriend and I have just bought a house. It’s somewhat near my mother’s house, but smaller and also with a smaller garden. We paid twice the amount of money my mother paid for her house. I wish I had been able to buy a house 10 years ago… I did get a really good deal on my mortgage though: 4.7% interest for 30 years. Just two days after we signed the contract, the interest started climbing and at the moment it’s around 5.8%.

The big question now is: did I make the right choice? Has this deal been a good investment or will the price of houses drop in the near future? It can’t go on like this forever, can it? In another 10 years only the very rich can buy their first house as well as people who already own a house. Still, maybe it can go on forever. I know that when my mother bought her house, the prices were considered really high, too.

Will the house prices drop? Will it drop to below the price I’ve paid for it? I hope not. I will have made a really bad deal with my 30 years at 4.7%.

On Making Money