Sep

8

Spending money to make money

Posted In: Investing Tips

I was playing Monopoly the other day with my young relatives and from the beginning of the game two clear strategies emerged. Their cautious and measured approach meant an emphasis on saving money and not investing. My bolder approach involved taking opportunities, investing and not being afraid of going into temporary debt. The game had its usual elements of luck but as it progressed I began to gain the ascendency. I paid my mortgages with their rent and in time they inevitably became bankrupt.

Just as art imitates life, the game offered them a valuable life lesson: you need to spend money to make money. You need to recognise opportunities and take advantage of them while you can because if you wait you may miss out. When I recently booked airline tickets I missed a cheap fare for that exact reason. “Seize the moment!” I implored myself.

It’s human nature to be apprehensive, wary or even insular to new investment opportunities. It seems everyone wants the golden egg but they are often too afraid to buy the goose that lays it. The word ’scam’ is thrown around with apparent reckless abandon these days, particularly when it comes to online opportunities. Unfortunately, with this preconceived mentality, valuable opportunities are literally passing people by or slipping through their fingers because their mind isn’t open to it.

So, what exactly are we afraid of? Failure and, as it applies to this scenario, losing our money. But think for a moment about this as it relates to sport. Ice hockey great Wayne Gretzky once said that “you will always miss 100% of the shots you don’t take.” Maintaining possession in a sports match means nothing if you aren’t prepared to use it to score. And it’s only when you score that you can win. So it is with life. If you have something, why not use it to create something more? Use money to make money.

I’m often amused by how the value of money seems to change depending on how it’s spent. $10 is what most people in developed countries earn in less than an hour. When it comes to spending that money for our recreation, we don’t think twice about it. But for some reason, when we can use that same amount as an investment it suddenly inflates in value. Our thoughts are consumed by losing that money for no tangible reward. We lose sight of the opportunity because we can’t see past the cost of it.

Investing into an online opportunity is NOT a big risk. When you compare the minimal costs to the earning potential it becomes a very smart choice. $10 these days will buy you half a restaurant meal, one-third of a football match ticket or two-thirds of a cinema ticket. It will get you a coffee at Starbucks, a beer or value meal at McDonalds without much change. The truth is it’s not a lot of money but the good news is that it’s all you need to begin online.

Spending money to make money is a concept that generally holds true for any type of business. The key to success is investing money wisely and staying within your budget. If $10 is within your budget don’t just spend it. Embrace the idea of using it to earn the $10 back…over and over again…every month.

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