Money For Hire

[5ft Diva]

Do any of you have great suggestions of how to get your money to work for you? I just mean like with investments and savings. I know nothing about this other than it's a good idea to put some money away for short term, long term and retirement and I know plenty of people who purchase a fixer-upper then fix it up and flip it and make lots of money on it, or do rentals and stuff like that. I don't mean to pry, I just don't know anything about stocks, CD's, IRA's, bonds or any of that. Anyway, I was just wondering what works for you or what you know about how to get your money to work for you.

[amberpatomo]

This has been something I am interested in. I am always looking for ways to make or invest money. Any suggestions????

[5ft Diva]

Soooooo.....we've already had 29 view this thread and only AP responded that she has the same interest that I've expressed. Should I take this as no one knows about savings and investments??? Are we all on the same page??? C'mon, there's gotta be someone who knows something.

[Big_Sissy]

I know that if you spend you have less, if you work you can get more. Oh, and don't forget to pay at least 10% to your 401K. Otherwise my understanding has been you need a little $$ to make more $$. We'll get there.

[LostnFound]

I have a really good book that I bought at Deseret Book on how to start making your money work for you. I know you already are reading a list of books but you could put it in line with the rest and give it a go when you have time. I just need to find it. When I find it I will post some of the ideas on the forum.

[runamyrun]

I want to learn more about this!

[smed]

Me and my husband this saturday had someone he works with come to our home and talk to us about this very thing it was very over whelming and to much info. to put in this tread.

She came and did a analysis of were we stood and how much we could save and how our money can work for us, we filled out some paper work and she'll go through it and send us back ways that we can better save for retirment ect.

This was no cost to us for having them come to our home and the spent about 2 hrs. with us. if this is something your interested it let me know.

[5ft Diva]

Originally Posted by LostnFound

I have a really good book that I bought at Deseret Book on how to start making your money work for you. I know you already are reading a list of books but you could put it in line with the rest and give it a go when you have time. I just need to find it. When I find it I will post some of the ideas on the forum.

LnF, what's the name of the book?

So, I'm going to assume that nobody really knows anything about strategically saving and investing money, other than BS who says, spend less so you can have more. Once again, thanks for the newsflash, Captain Obvious. Sorry, you stepped right into that one.

Hmm...this is very interesting. Okay, new thread.

[runamyrun]

Originally Posted by smed

Me and my husband this saturday had someone he works with come to our home and talk to us about this very thing it was very over whelming and to much info. to put in this tread.

She came and did a analysis of were we stood and how much we could save and how our money can work for us, we filled out some paper work and she'll go through it and send us back ways that we can better save for retirment ect.

This was no cost to us for having them come to our home and the spent about 2 hrs. with us. if this is something your interested it let me know.

Is the company called Primerica?

[Big_Sissy]

Ok, in all seriousness, a lot of it has to do with planning and just making it happen.

We contribute 10% to the 401k because I make myself. I know if I don't, I'll regret it, but it sure would be nice to have now...

My point is that if you will put aside some $$, and ear mark it for "investing" and then have some fun planning what you want to buy with it (what stock etc) then once you get a couple 100 and have decided what you want to buy with it, go do it. Either with a local broker or through e-trade or some of the other online places. That's a start. Once you start doing it, it will continue to happen because you'll see that it will grow if you chose wisely, and it will be fun. Plus hopefully you can make some GREEN

[5ft Diva]

That would be a fun experiment. What do you think about our kids doing this? I mean, letting them choose what they want to invest in, getting them purchased so they can see what happens - just for fun. Just a thought. It'd be a good learning experience for me as well.

[runamyrun]

Part of the book "The Parenting Breakthrough" talks about teaching children how to save money. When the author and her husband teaches her kids about stock, the children pick out some stock they would like to buy. I don't think they actually buy it, though. Then the kids keep track of their stock, and see if they would be earning money. It can even become a contest to see if the kids are doing better than their parents. After the kids have learned how stocks work, they can invest their money in it.

[5ft Diva]

Interesting. Thanks for sharing. RAR, do you know anything about stocks?

[runamyrun]

I don't know very much about stocks. I need to learn. My DH is the one that invests for us.

[5ft Diva]

Mine, too. Hmm, is that a good thing? That we don't really know anything about that, I mean. One of the things I hope to do in life really well is manage money. It's a weakness right now and we're told that our weaknesses become strenghts - I am looking forward to that.

[runamyrun]

I manage all of our bank accounts. I feel that I am pretty good at managing our finances, but I would love to learn how to invest.

[5ft Diva]

So, what do you do that helps you manage your money well? I'm all ears.