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Making Money! What has Worked for you?

tennis4789 895 383 October 30, 2015 at 06:18 PM in Your Mileage May Vary (YMMV) (3)
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Last Edited by tennis4789 October 30, 2015 at 06:29 PM
SD posts typically emphasize saving money which is actually money going out of my pocket. For example $600 Iphone for only $100. Yes I saved $500, but $100 actually came out of my pocket SPENDING, if I can't resell for profit.

My Fails & Successes for INCOMING money

Small Fails:
Selling my Services on CL
Selling things on CL
Selling On Ebay
Multi Level Marketing
Flipping a House

Big Fails:
Being A Realtor
Starting a construction company
Stock investments


Small Successes:
Flipping a House
Owning a primary residence
MS
Chasing Bank Bonuses

Big Successes:
Job (W-2 income)
Renting out rooms in my house

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#2
Job (W-2 income)

will not make you rich
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#3
Quote from bargeit View Post :
Job (W-2 income)

will not make you rich
IRONY. Thanks appreciate your wel thought out and valuable ccontribution. NOT

I was more hoping responses would include what you have had success and failures with.
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Last edited by tennis4789 October 30, 2015 at 09:04 PM.
#4
hookers and blow....
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#5
Quote from is_250 View Post :
hookers and blow....
Was being a hooker very profitable for you?
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#6
Huge Success:
Job (medical field)
MS

the 2 are intertwined because I use our combined income for CC applications so we both get a huge CL on those CCs we pick.
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#7
Hi Mama Bear. I think you referred me to FT a while back. Thanks.

I'm wondering how much MS I can do. Discover IT is only cc I got approved for that has enough horsepower (1.5% doubled to 3% after 1 yr.) I'm doing about 1.5 to 2 times my CL each month. Little worried about perk abuse and not getting additional 1.5% in a year. Any ideas.

I'm pretty happy with what I got. But, hoping to get an idea of what to try. Considering trying to sell a service on CL.

Thank you for sharing.
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#8
tennis, I don't have any advice regarding how much MS you can do. I have DiscIT CB for several years now, not DiscIT miles plus other CCs. Since we don't enjoy flexible work schedules like others, we choose CCs with highest CB; with CBs I redeem monthly, I transfer them to an account and check later if we have enough soon as our schedules align to go on a grand vacation. Sometimes, I get into mistake fare deals so our vacay $ are stretched farther. If we change our mind, we can spend the cash on hand for other fun stuff or things we can think of.

since you're already on FT, check the CC forums there to see what works best for your goals.
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#9
Quote from tennis4789 View Post :
Hi Mama Bear. I think you referred me to FT a while back. Thanks.

I'm wondering how much MS I can do. Discover IT is only cc I got approved for that has enough horsepower (1.5% doubled to 3% after 1 yr.) I'm doing about 1.5 to 2 times my CL each month. Little worried about perk abuse and not getting additional 1.5% in a year. Any ideas.

I'm pretty happy with what I got. But, hoping to get an idea of what to try. Considering trying to sell a service on CL.

Thank you for sharing.
May I ask what ft is?
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#10
Flyer talk
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#11
I don't see how you can really make a lot of $$ by MS - unless you churn, which will kill your credit score. Your best bet is to MS at higher % CB places (e.g. categories like supermarkets), but I find these types of cards are limited enough such that the benefit isn't worth the hassle. for example a couple AE cards offer 6% up to the first $6k annually @ supermarkets, which is $360 in rewards, but is it worth the extra card in the wallet for $360 (less whatever it costs to MS, which for me is 1.2% - so I'd net 4.8% on $6k or just under $300).
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#12
Stay out of debt (or pay of debt). The interest you paid has the opposite effect of making money. You think you exchange time with money but the reality is your monthly {car | loan} payment just goes to someone who use their capital to make money without lifting a finger.

You can do the same by saving up and do long term investment and let the compound investment interest to work for you instead of against you.

Another way to make money is reduce taxable income by contributing money to the retirement account. In additional to the benefit from investing, you can save tax with tax-free growth for the Roth IRA and HSA account, or tax-deferred account like 401k/403b.

Or try to start a small business, whether if there is a good idea to boot (e.g. on kickstarter), or perform good service that is competitive and let people come to you. Realestate / landlordship are all great with certain amount of risks.
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#13
Quote from mint99 View Post :
Flyer talk
Thanks! And what is "ms"
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#14
Quote from ciked View Post :
Thanks! And what is "ms"
ms = monkey shit? Frown
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#15
Outside of my career field I would have to say Photography significantly, however the major con when you have a career, family and other priorities is of course TIME. It just isn't worth it enough for the free TIME I lose. I turned down 3-4 weddings this year alone that I could have easily made several grand for each. I got so burnt out and turned off by it all that it went from a obsessive hobby, to a freelancing opportunity and then to a point where I hated even picking up my camera. Now I'm 90% hobbyist, but do 10% freelancing on the side. Much more balanced and I get to actually shoot what I enjoy with no obligations or expectations other than myself.
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