Posts by jsangl
SERIES: Top 5 Ways To Improve ROI – Part 1
Welcome to the latest series on this wildly popular website – JosephSangl.com – “Top 5 Ways To Improve ROI”
ROI: Return On Investment
Everyone wants to receive a positive return on their investment. We are delaying the use of our money so that we can have more money in the future – at least that is the goal. However, many people are seeing negative ROI over the past several years. This is why I am writing this series – to help each of you make your money earn more. These are the top five rules I use to maximize my money, and it has worked out well for me.
Part 1 Don’t invest for the short-term.
I am just not smart enough to make sense of every single nuance of the entire world. I do not know how a grasshopper invasion in Antarctica impacts oil production in Siberia, yet we have all seen that sometimes seemingly unrelated items have a major impact on financial performance. For this reason, I spend a great deal of time thinking about which investments to choose before I acquire them, and then I hold them for the long term. Day-trading (or anything like it) has a feeling very comparable to gambling in Vegas, and it usually winds up with the same result.
What are YOUR experiences with investing? Have you ever “day-traded”? Tell me your wins AND your losses!
SERIES: Top 5 Ways To Gain Financial Margin – 5
This is the final installment of this series, and I trust that it has been helpful to you! This final one is one that I am very passionate about.
#5 – Start A Successful Business
Of course, this is easier said than done. However, if you look around, there are TONS of successful businesses and someone started them! Why not you?
Do you have a marketable skill set? Do you have an idea that would allow you to serve customers in ways that they have never been served before? What can you do that people would recognize value in and be willing to pay for?
A business can allow you to win with money and put several zeros behind it! Starting a business can be one of the most rewarding things a person can do. It certainly has been that way for me!
SERIES: Top 5 Ways To Gain Financial Margin – 4
This next part of this series can be painful, but the end result can be worth it!
#4 – Sell Possessions
What do you have that you could sell?
- Car
- Boat
- Motorcycle
- Camera equipment
- Collectibles
- Antiques
- House
- Tractor
- Furniture
- Land
- Business
I have no idea what you possess, but it might make sense to sell it if you are flat broke! Let’s face it, no one likes to sell their stuff. We like stuff. However, if that stuff is preventing you from winning financially, it is time to wave goodbye to it!
Don’t worry, you will be able to buy it back later once you have began prospering – and probably at an incredible discount!
Read entire series (available after 11/13/2011)
Series: Top 5 Ways To Gain Financial Margin – 3
We’re continuing in this series “Top 5 Ways To Gain Financial Margin” and this next method can be tiresome and time-consuming, but it can be the springboard to substantial financial margin.
#3 – Increase Income
This seems obvious, but so many people do not even consider it! There are multiple ways to increase income – and while some of them might sound enjoyable or desirable – ANYTHING is better than living BROKE!
- Work overtime at current job
- Negotiate a pay raise
- Obtain a 2nd job
- Start a side business
- Invest something
- Write a book
- Dig up small trees in the ditch and sell for $3 each
- Rent out a part of your house
Anyone can do one or more of these, and it will increase income.
WARNING: If you do not have a plan for the extra income, it can very easily end up being spent. Be sure to be diligent and prepare a plan BEFORE spending any of it!
Series: Top 5 Ways To Gain Financial Margin – 2
We are continuing in this series of “Top 5 Ways To Gain Financial Margin” and this next part takes a little while, but it is SO WORTH IT!
#2 – Eliminate Debt
Most people have no idea just how much of their monthly income goes to service debt. They have the obvious debt payments for their car or furniture, but they also have loans that are automatically paid via on-line bill-pay services or through payroll automatic deduction.
Do YOU know how much of your money is being sent to a lender each month? If you have debt, I recommend that you stop right now and add it up. The car, credit cards, student loans, 401(k) loan, furniture debt, personal debt owed to another person, and the house. Seriously, use this tool to add up how much you owe total and the amount of money you are paying to the lender each and every month.
NOW – consider what life would be like if you were debt free. ALL of that money would now be available to you to pursue so many other things and dreams. You could bless your family and so many others in need. And … you could breathe more easily.
Even just paying off a couple of debts can create substantial financial margin and breathing room.