The Official Coli Money Growth Thread

[MillionMills]

A thread for all things relating to making and growing money.
Talk about your income, your expenses, how you're trying to improve your cash flow, etc
Investing, income, real estate, businesses, self-employment, etc

@Perfectson
@ignorethis
@DrX
@Treblemaka

 

[ignorethis]

It's cracking.
First piece of advice to anybody is if you carless and trying to get a car. Aim for a Toyota or a Honda before anything else.

My 2008 Honda Accord is a soldier, all my nikkas pushing foreigns looking like "Jesus Christ the maintenance, insurance, and note"

I would look into buying anything from 2003 and up Honda wise and 2002 up Toyota wise, based on how much you have to spend
"Crawl before you ball"

 

[Supercoolmayo]

Don't buy anything you can't afford

 

[Perfectson]

1. Maximize Credit Card rewards programs
my current rotations consists of
a) Discover card 5% rotating categories
b) Amex Blue Cash Preferred (6% on groceries, 3% on gas/department stores, and random offers that easily give me 5-20% back
c) barclays travel card for 2% cash back most other places

i do not use cash unless necessary and try to pay bills through credit cards, i use to "churn" or manufacture spend but became way to complex. Either way, these are simple "RETURNS" on purchase you would make anyway, so why not utilize credit vs cash. Just be discipline. I expect to be at least a couple grand on this, which is money I would not have.

2. Maximize liquid cash. I now have a few bank accounts but the one I will focus on is Ally. I opened this last year but ignored it and probably loss a few hundred in interest points vs the acccount I had my liquid cash in. transfering is so easy, so it makes sense to get a savings/checking that offers you the highest interest rates and if necessary transfer cash to banks where your bill pay is set up. ally is offering 1% in interest compounded..that's pretty great and is 5x what alot of accounts are offering.

3. Cash back portals:

Continue searching discover portals and MrRebates for cash back shopping. Similiar to the credit card, this is easy money for shopping through a portal. EAsily can make a few hundred by doing an extra click

Here's a referral link if interested, you just use the portal first before you shop and you can get 3-10% back cash back
Mr. Rebates - Cash Back Rebate Shopping at over 2000 Stores <<<click me

4. CD ladders

With interest rates soon to climb, i'm going to look into using Ally or Penfed to start doing some CD ladders with semi-liquid cash. Probably will do a 2 or 6 month to start and continue rolling them every month until i have year's worth of laddering. CD can get you 2-3% depending on maturity.


The above are simple and easy no frills ways to make money off money you're spending or not using (liquid cash). So doesn't make sense, NOT to do it.

 

[BaldingSoHard]

It's cracking.
First piece of advice to anybody is if you carless and trying to get a car. Aim for a Toyota or a Honda before anything else.

My 2008 Honda Accord is a soldier, all my nikkas pushing foreigns looking like "Jesus Christ the maintenance, insurance, and note"

I would buying anything from 2003 and up Honda wise. And 2002 up Toyota wise.
"Crawl before you ball"

Hyundai or Kia would also be a good place to start.

In fact, I'm liking the latest Kias more than Hondas.

 

[Perfectson]

I wanna talk about the credit cards a bit more.

1. Amex Blue Cash Preferred (or any other Amex card). I have deals such as
a) Cole Haan spend 200 get 50 back. That's 25% discount, I bought a gift card. This can now be stacked with other offers. So when they do their friends and family 30% offer, i will get 55% off.

b) WAlmart had a spend $35 get 15 back...i mean it's a no brainer

c) Mont Blanc and Burberry had spend 500 get 100 back , 20% off

d) GOdiva chocolaets spend 50 get 10, 20% off

e) certain hotels gae you an extra night free

the list goes on and on, this is easy money if you're into these brands anyway

2. Discover card, gives you an opportunity to earn cash back. But in addition, you can take the cash back and get discounted gift cards.

So for an example. I earn $100 of discover cash back. I take my $100 and i get discounted giftcards through discoverer. So I can get $100 Macy's card for $90, that's 10% off. This is stacking the rewards

I spend at least 20 minutes before I buy anything to ensure I maximize my cards and rewards...it's worth my time.

 

[Perfectson]

link to the top savings account

Savings Account Rates | High Yield Savings | NerdWallet

for anyone interested...if you're getting anything less than 0.5% APY, you should recheck your life.

 

[Perfectson]

Investments

obviously very subjective and since you can easily lose your money, I won't advise anything here.

HOwever, alot of people are playing OIL for the bottom that's a very speculative play
commodities as well have been in a slump

with that said, I have looked more global recently and have been buying up

HJPNX, OBIOX, MINDX, FNMIX, and FMIJX

enter at your own risk

i have losers in commodities and infrastrucutre as well, hoping for a rebound in 2016 tho

 

[ignorethis]

Investments

obviously very subjective and since you can easily lose your money, I won't advise anything here.

HOwever, alot of people are playing OIL for the bottom that's a very speculative play
commodities as well have been in a slump

with that said, I have looked more global recently and have been buying up

HJPNX, OBIOX, MINDX, FNMIX, and FMIJX

enter at your own risk

i have losers in commodities and infrastrucutre as well, hoping for a rebound in 2016 tho

how much money should you be looking to start with, for buying the stuff you mentioned like HJPNX

 

[PortCityProphet]

After bills are paid leave enough to get you what you NEED (KEYWORD NEED!!!) til the next pay day and save the rest in an account. Can become an emergency fund account/or just savings.

 

[Unknown Poster]

A thread for all things relating to making and growing money.
Talk about your income, your expenses, how you're trying to improve your cash flow, etc
Investing, income, real estate, businesses, self-employment, etc

@Perfectson
@ignorethis
@DrX
@Treblemaka

Im in.

Day 5 of 365.

Ill add this in my daily repertoire with my self improvement thread.

 

[Perfectson]

how much money should you be looking to have to start buying up the stuff you mentioned like HJPNX

you should start a base, but the younger you are the more aggressive you can be ...but you should also try to learn the game before just tossing money into it
HJPNX focuses on teh japanese sector, usually you want to build a base in S&P and the broader market (large cap, small caps) before venturing into sector or country specific stocks. Unless you really have a good feel for that country.

It's always about allocations and risks to that.

My Japan holding is about 3% of my retirement fund (IRA) so overall isn't that big of impact to my overall net worth.

 

[Juggalo Fred]

Only use the dollar menu to order

 

[Panther]

Get out of debt

 

[MillionMills]

It's cracking.
First piece of advice to anybody is if you carless and trying to get a car. Aim for a Toyota or a Honda before anything else.

My 2008 Honda Accord is a soldier, all my nikkas pushing foreigns looking like "Jesus Christ the maintenance, insurance, and note"

I would look into buying anything from 2003 and up Honda wise and 2002 up Toyota wise, based on how much you have to spend
"Crawl before you ball"

What do you do fam?