Today we discuss another solution to our aim of increasing our money twice as much each year.
In order to double your money, you will have to make some effort in planning and engage in action with some marketing and sales skills.
Buying in March and selling in November is another way you can double your money, or some of your money.
The idée is to buy an asset at half price and trade it at double the price or market value. This might seems exuberant at first but there are many products and assets you can purchase at half price.
The secret is to buy when people are eager to sell and sell when people are eager to buy. In March people are seriously recovering from their realities of December/January holidays and money are in short supply.
The flip of the coin happens at the end of the year when excitement and bonuses drive sales, but of course you can advertise anytime.
There are various assets and will depend on your personal skills.
You can consider buying from online adverts to auctions and wholesalers.
The following is a short list of ideas you can consider:
- Holiday Accommodation
Investing your money in the bank for 7% growth to keep up with inflation is the minimum and without much risk, however if you acquire some skills and are willing to risk some of your money, you can in fact double your money.
Take note that you should consider the amount of money you are willing to risk vs your skills and time. Take your time and start small. Greed is one of the largest reasons people loose moeny.
This is my third post on how you can double your money. Let us know your ideas on how you would be able to double your money?
So we discussed the sweet potato way to double your money, but today we would like to introduce one more way to double your money every year.
We call it the Double Up 20 X 4 rule, because you can buy at wholesale and sell at a netto profit of 20% every 3 months and double your money.
Let’s say you buy one of the listed items below at wholesale or at a discount from private people and sell it online in small adverts or auction shops.
You purchase, or laybuy R1000 worth of goods at a discount. Selling the item/s for R1200. Then you buy for R1200 at discounted rates and sell for R1440. Continue this process 4 times and you just doubled your money!
Okay, so that example will not make you the richest man in the world, but use the principle and see how much money you can make in 10 years.
Some good items to consider selling from home:
A purse in good condition
Video games or gaming systems
Old phones or charging stations
Large children’s toys / equipment
Bike or scooter
Even better if you can get buyers before you buy the products, but if you don’t buy a product you would need to be commited in selling something you do not have yet.
Let us know your ideas of how to double your money every year.
You may have thought it impossible to double your money every year and you may be right, however you will find it possible to double some of your money every year.
Every summer grows a root with one of the highest vitamin C of edible foods, the sweet potato. I took a sweet potato and grew a few stems on my table.
At the time I was letting my mind go to an idee of doubling my money every year. It occur to me that the simple sweet potato yields much greater than just one or two.
I already had a sweet potato that started growing little stems in a dark corner, so I planted the sweet potato in a bucket mixed with sand and grass. Needless to say, after a few months of nurturing my yield was amazing.
My five bucks sweet potato yielded 10X. The time it took me to plant and water was simply time I would have spend in leasure and researching a few youtube growing methods was also fun.
Can you double your R500 000k every year? The answer is:” It’s up to you”
We will cover a few more ways, but looking forward to your idees.