What should I do with my money? - Page 2

Originally Posted by jord0690

. Really all comes down to maintenance.

I have to agree completely and there are exceptions to the rule obviously but maintenance is a huge key, i'd rather spend 100 bucks on maint in 6 months than 1500 on repairs and labor if I didn't have the time to do it myself.

Scrapping will never be reliable (like a 40 hr a week normal job) until you get big enough for people to bring their stuff in to you instead of you hunting them. Until then you need to keep looking for more items to scrap and spend a bunch of time researching (never ending always changing region and economics dependant) what you can sell instead of scrap for more profit. Also don't do something stupid and rack up debt. You are better off paying off a 17% credit card (for example) then keeping money in a bank account that pays you under 1%.

Originally Posted by unknownk

Scrapping will never be reliable (like a 40 hr a week normal job) until you get big enough for people to bring their stuff in to you instead of you hunting them. .

I think I might have a nice idea on how to do that.

Originally Posted by TheRecycleGuy

I think I might have a nice idea on how to do that.

Elaborate please

Originally Posted by happyisthealero

Elaborate please

Well I thought of local advertisement, like newspaper classified section or community calendar section or talk news radio something in expensive, postboard flyers by high traffic areas and advertise like this, Community Electronic's Recycle collection day.
Computers, Laptops, Cellphones collected FREE on sat 9/14 9am to 3pm lowes parking lot. you know some catchy small statement of what where when and one day only for that month and find a place where you can park your truck/trailer for several hours and let the people come to you.. if radio advertisement might be cheap or free since its community recycle, you could add in, local business welcome, if you have a moderate amount to recycle, an appointment can be made for pick up by "either your telephone number or website e mail and give your info... LET THE PUBLIC COME TO YOU!!! LOL. what do you think?

I always tally up my profits at the end of the month and put 50% of what i made into the account for scrap purchases. The other 50% gets divided about 8 different and goes to various savings funds.

The 50% i keep every month also pays for my gas, tools, etc.

I started scrapping as a way to supplement my income, hopefully to the point where scrapping pays all of my bills, fattens my savings, and maybe allows for new purchases. That way my normal paycheck gets banked and not touched at all.

Got a long way to go to reach all of my goals but so far we are up to paying for the wife's car payment, all our gas expenses, my family's monthly "goiing out" fund, and a utility bill here and there all with scrap money.

What to do with your money just depends on your situation and what your long term goals are. Absolutely save some of it. Scrappin' ain't easy, I would hate to see it all blown on things you can't account for.

Yes money is easy to spend and hard enough to earn. RE-INVEST all the way, make it grow. It takes tremendous discipline. I want to reach the point where money works for me.
Yes I do know how, it's the discipline part I am having trouble with.
Best way for me is to give it to the wife, let her hold on to it, she has more discipline than I do, believe it or not. Also the rewards from doing that are great...Money is there when I need it.

The best thing you can do with money you have sitting around is to find a safe way of gaining interest. You can also purchase tools that you need to make your job faster or more efficient. Business cards would also be a wise idea, you would be surprised at the number of call backs they can get you. You can score some cheap ones off vista print.