I can afford this stuff because I basically have my money work for me...I invest, save, and spend wisely.
-I avoid credit cards alltogether....it is simply bad debt. If you do have debt, I would recommend that you pay off your credit card with the highest interest rate first, then move on to paying off the other cards...if you are routinely making payments, a cc company is more likely to lower your rate if you ask.
-instead of getting a conventional savings account that gives you only an average .75% interest rate, get a money market account from a brokerage that has at least a 5% interest rate. I actually have an account dedicated solely to collectibles/entertainment. The more you save each month/year, the bigger the return you will get.
-I suggest investing in stocks and bonds. You should first study about investing before jumping in...if that is kind of intimidating you can always invest in mutual funds...check out www.morningstar.com for reviews. If you are young and have some money to spare(atleast $5000), I reccomend U.S. Global Investors Global Resources (PSPFX). It is high risk, so it is something I would only suggest to young people who have a long way to go until retirement. But this fund has brought me an average return of 21% since January 2006, giving me a profit of $1050.
-I keep my collecing focused...i used to focus on props, but now I only collect PFs and Cinemaquettes.
If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...
-I avoid credit cards alltogether....it is simply bad debt. If you do have debt, I would recommend that you pay off your credit card with the highest interest rate first, then move on to paying off the other cards...if you are routinely making payments, a cc company is more likely to lower your rate if you ask.
-instead of getting a conventional savings account that gives you only an average .75% interest rate, get a money market account from a brokerage that has at least a 5% interest rate. I actually have an account dedicated solely to collectibles/entertainment. The more you save each month/year, the bigger the return you will get.
-I suggest investing in stocks and bonds. You should first study about investing before jumping in...if that is kind of intimidating you can always invest in mutual funds...check out www.morningstar.com for reviews. If you are young and have some money to spare(atleast $5000), I reccomend U.S. Global Investors Global Resources (PSPFX). It is high risk, so it is something I would only suggest to young people who have a long way to go until retirement. But this fund has brought me an average return of 21% since January 2006, giving me a profit of $1050.
-I keep my collecing focused...i used to focus on props, but now I only collect PFs and Cinemaquettes.
If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...
), and I've even read that book. It makes a lot of sense, but you still need money to make money. A lot of us here don't have an extra $5000 laying around to invest.
