11 {{ upvoteCount | shortNum }}
11 {{ upvoteCount | shortNum }}

What to do with $5,000

by kimmer551
9 replies
  • OFF TOPIC
    • |
I have a good question for my fellow warriors. I will be getting a check for about $5,000 within a couple of weeks. What can I do with this money, to make more money, by being my own boss! I have some success with AdSense, and Amazon, but I need to make a lot more money. So what software would you suggest, what product to use, what plan, what mentor or membership website is worth its weight in gold? I want to be my own boss, sure $5,000 is not a lot to some people, but to be handed $5,000 do what I please with, is a real golden egg for me. I am just looking for some feedback, plans,suggestions on what anyone would do, to make this money work, no matter what. Cpa offers,pay per install, etc.. anything goes, just no stupid ideas like renting hookers at a truck stop for drivers! Thanks.
  • Profile picture of the author Happy_Balance
    There is virtually nothing you cannot learn for free.
    Effort and original ideas are worth their weight in gold.

    Register a few good domains, use a small amount of money for logo/design contests, launch useful original websites. Don't waste money on SEO and back-links, since that is, IMO, for spammers and fools.

    Have Fun!
    Signature

    Every Day Is Fun! :)

    {{ DiscussionBoard.errors[3595150].message }}
  • Profile picture of the author FrediDoo
    Well you can pay off my credit card if you like! To me that's not a stupid idea

    It's kind of worrying that you're looking to spend it at all. I mean, if someone handed me $5,000 I would stick it in the bank and keep it until I actually needed it.

    From my own experience you don't need much money to make money online. That said though, I'm sure you could find something decent in the WSO section to expedite your efforts in some way.

    But, what stuff do you LIKE doing to make money online? Do you prefer SEO, or writing, or can you design / create videos or websites? There'd be no point investing in a system that uses methods which don't appeal to you
    {{ DiscussionBoard.errors[3595164].message }}
  • Profile picture of the author John Durham
    Pay every single one of your bills for two months ahead, and save $500 for tools you might need, and work for the next two months straight on building a business that profits within 60 days.
    {{ DiscussionBoard.errors[3595167].message }}
    • Profile picture of the author FrediDoo
      Originally Posted by John Durham View Post

      Pay every single one of your bills for two months ahead, and save $500 for tools you might need, and work for the next two months straight on building a business that profits within 60 days.
      Excellent idea!
      {{ DiscussionBoard.errors[3595824].message }}
    • Profile picture of the author XtremXpert
      Originally Posted by John Durham View Post

      Pay every single one of your bills for two months ahead, and save $500 for tools you might need, and work for the next two months straight on building a business that profits within 60 days.
      John Durham's advice is great.

      As someone else, said, you can learn almost everything for free, of course books can help so you can invest a little part in a few. My advice is to not buy any "make money" e-books or courses as you say you're already making some money online. If you really want such products, a warrior room membership is enough, there are a lot of them here.

      Some books that I strongly recommend:
      The 4-Hour Workweek by Timothy Ferris
      The 80/20 Principle by Richard Koch
      Linchpin by Seth Godin (all his books are great)
      Think and Grow Rich by Napoleon Hill

      These are much cheaper than 'make money' ebooks but of much more help, just read them and you'll agree.

      I don't know how much you spend every month but as John Durham said, you can pay your bills in advance and you'll have time to focus on learning and developing an IM plan. Keep some for domains and hosting, maybe 1-2 tools and by the time you have to pay bills again, you'll have a "money-making" system.
      Signature
      Optimizare SEO
      {{ DiscussionBoard.errors[3595958].message }}
  • Profile picture of the author Domashnya
    Put the money in the bank
    {{ DiscussionBoard.errors[3596722].message }}
  • Profile picture of the author Fazal Mayar
    Save the money for a car.
    Signature

    Blogger at RicherOrNot.com (Make Money online blog but also promoting ethical internet marketing)

    {{ DiscussionBoard.errors[3597470].message }}
  • Profile picture of the author Michael Ten
    Invest in a diverse portfolio... maybe invest 3000 or whatever the max is into a roth IRA... and keep 2000 to invest in IM or whatever else higher risk stuff you want
    Signature

    New Book! Radical Life Extension. Help me to hasten the defeat of aging.
    Michael Ten . Do Nothing Does . All Books by Michael Ten

    {{ DiscussionBoard.errors[3597855].message }}
  • Profile picture of the author John Durham
    To me , it just means a two month headstart that you might not get again for another year... use it as a window of opportunity to put your nose to the grindstone on something. I wouldnt even buy a car, I would trap myself in a room with my pc, until I came out with some income streams...In two months you could create 100 amazon pages, if you know your bills are paid and you have peace to work in, and nothing to do but "create" for sixty straight days... you could just sit behind your door and create 3 streams... just keep your nose to the grindstone and get passionate about creating, with a thankful heart that you have the window of opportunity.... that could create a couple grand per month in income right there.

    If it even does 1k per month, you just turned your 5k into 12k per year.

    Heck, if you want me to coach you through it, I'll bet I can help you get to a 2k per mth profit with what you have there, and not charge you a dime... but you'd have to listen... most people wont, so you might want to sleep on that offer.

    Doesnt really matter what opportunity you pick... some basic success principles applied to ANYTHING thats proven will work.

    Locking down and putting your nose to the grindstone passionately is a key prerequisite though.... you have to MARRY your idea and be obsessed with it for a period, to where you dont even NOTICE you dont have a car... when you want something that bad, you get it alot faster, eventually it yields to you.

    Most people dont.
    {{ DiscussionBoard.errors[3597884].message }}

Trending Topics