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11 Big Money Strategies

11 Big Money Strategies
11 Big Money Strategies

    We all want money, but if you’re like me, you want Big Money.

    Forbes.com, who know a thing or two on the subject, have a list of tried and true ways to make that kind of money. Although they aren’t step by step tutorials, they do offer some workable ideas.

    1. Government Subsidies
    Perhaps the most time-honored and surest way to make big money is the old fashioned way–skill, brains, luck, clairvoyance, hard work–and so much government support you can’t miss. Benefiting directly from direct government spending is obvious. What’s more subtle and therefore more interesting are the vast government subsidies.

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    2. Inheritance
    You can always make big money by picking rich parents who die young, or wealthy and feeble uncles with no other heirs. For most, however, inheritance is not the route to riches.

    3. Little Equity, Lots of Debt
    You can make lots of money by investing with little equity and huge borrowing–as long as you’re right on the investment’s price direction. Real estate is obviously in this arena.

    4. Leverage
    Our third strategy, little equity with lots of debt, amounts to huge financial leverage. But leverage as a way to make big money extends well beyond the use of debt.

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    5. Great Ideas, But Not Necessarily The First Implementers
    Ralph Waldo Emerson supposedly said, “If a man can write a better book, preach a better sermon, or make a better mousetrap than his neighbor, though he builds his house in the woods the world will make a beaten path to his door.”

    6. Small Slices of Very Big Pies
    Fortunes can be made by taking small slices of very big pies, especially if those ultimately granting the slices are making money. Fees of, say, 0.1% of the transaction’s price don’t sound big, but they add up to big numbers.

    7. Cartels and Monopolies
    Cartels and oligarchies are great ways to make big money–as long as they last.

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    8. Sell the Sizzle, Not the Steak
    An age-old route to riches is to promote hopes and dreams, regardless of how far they may be from reality. Of course, government regulation has curtailed the wild health claims for snake oil and many other patent medicines, hair restorers, potency formulas and fountains of youth, but opportunities still abound.

    9. Take Advantage of Addictions and Vanity
    Catering to addictions and vanity has always been a big moneymaker, even more so when they are outlawed. Think of sex and prostitution, the world’s oldest profession.

    10. Picks and Shovels
    Supplying goods and services to a risky but potentially very profitable venture is a time-honored way to clean up. The old story is that few gold miners in the 1849 California gold rush got rich, but those selling them picks and shovels–and Levi pants–did.

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    11. Get Paid With Money That Isn’t The Payer’s, Especially If They’re Desperate
    Small pieces of big pies get bigger and easier to obtain when the buyer of the pie wants it badly and considers the service in question essential to get the deal done.

    Got a hot tip?

    How To Make Big Money – [Forbes]

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    Published on July 4, 2018

    Top 10 Recommendations on Money Management Apps

    Top 10 Recommendations on Money Management Apps

    Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

    The solution is simple, save more and spend less. But, we all know it’s easier said than done.

    One problem is finding quality apps that save you time and money, and aren’t just hype.

    Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

    1. Personal Capital

      When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

      Here are some of its main features:

      • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
      • Discover hidden fees and how much they’re affecting your retirement plan
      • Wealth management for investors requiring a long-term strategy

      With Personal you’re free to track your expenses and net worth.

      Available for: iOS and Android

      2. Mint

        If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

        Here are some of its main features:

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        • Effortlessly track all your bills and balances in one dashboard
        • Categorized expenses to understand where you spend your money
        • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

        Feel at ease with managing your money by a reputable company that isn’t going anywhere.

        Available for: iOS and Android

        3. YNAB

          Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

          Here are some of its main features:

          • Easily sync all bank accounts in one place
          • Visually see your debt paying progress with eye-catching charts and notifications
          • Customized categories setting saving goals

          The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

          Available for: iOS and Android

          4. Wealthfront

            Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

            Here are some of its main features:

            • Variety of investment account options including IRA, Roth IRA, and more
            • Your portfolio composed of 7 different asset classes
            • Automatically rebalanced portfolio
            • Daily tax loss harvesting

            Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

            Available for: iOS and Android

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            5. Clarity Money

              If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

              Here are some of its main features:

              • Easily cancel subscriptions with one click
              • Synchronize bank accounts fast
              • Transfer money effortlessly between different accounts

              Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

              Available for: iOS and Android

              6. Acorns

                What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

                Here are some of its main features:

                • Automatic contribution option
                • Customized portfolio tailored to your needs
                • Low management fees ranging from $1-$2 per month

                Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

                Available for: iOS and Android

                7. Albert

                  Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                  Here are some of its main features:

                  • Receive notifications for overpayments, hidden fees, and low balances
                  • An Automatic budget that’s built around your spending and income
                  • Easily track debt and set new financial goals

                  While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                  Available for: iOS

                  8. Prism

                    Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                    Here are some of its main features:

                    • View all your account balances in one glance
                    • Bill due dates are automatically pulled and tracked
                    • Receive early reminders for upcoming bills

                    If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                    Available for: iOS, Android, Windows, Amazon

                    9. Mvelopes

                      Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                      Here are some of its main features:

                      • Connect unlimited bank accounts
                      • Real-time budgeting with auto transaction syncing
                      • Low monthly $4 fee or $40 annual

                      Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                      Available for: iOS and Android

                      10. Wallaby

                        Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                        Here are some of its main features:

                        • Automatic recommendations for the best credit card to use for each transaction
                        • A friendly user interface, displaying credit cards with their corresponding images
                        • Free to use

                        If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                        Available for: iOS and Android

                        Take control of your finances and experience financial freedom

                        Picture yourself staying on budget and saving more money than you’d ever imagined.

                        It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                        You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                        Featured photo credit: Pexels via pexels.com

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