Spend Your Money Wisely: Don’t Buy That, Buy This!

How do you spend your money? Do you spend all your money on items that decrease in value, such as cars and clothes? If so, its time to change your mindset. Its time to accumulate items that can start making money for you.

I’ve been saying for a while there will be another stimulus check. That’s not a big deal because a lot of people have been saying that.
 
But if there is indeed another stimulus check, don’t spend ALL of it on stuff that loses value. Take a look around and take a portion and buy/invest in something that either holds its value or can make more money for you.
bar business commerce currency
Photo by Michael Steinberg on Pexels.com
 
Consider purchasing something that’s TANGIBLE, and NOT related to the stock market.
 
Why you ask?
 
Well, look at it like this: the US is just printing money. We are over 20 TRILLION dollars in debt. If the value of the dollar falls, the stock market could fall as well. If this happens, that physical item you purchased with that dollar may become even MORE valuable than the dollar you used to purchase it…

Just an FYI: for the average person, your house is NOT an asset because if you stop paying that monthly mortgage, you’ll be evicted. That’s COSTING you money, not generating revenue for you.

This is the key to creating multiple streams of income, passive income and financial freedom. Here are a few tangible products to consider purchasing:

  • Gold
  • Silver
  • Real estate
  • Fine art

Think of yourself as a collector: some people purchase stamps, comic books or sneakers, while others collect gold coins and rare art. All are impressive collections, but which could be more beneficial to you and your family over the years?

As times become more uncertain, being aware of your financial situation is more important than ever. Don’t rely on the stock market to save you, get something you can hold as well.

Get more tips in my book Invest For Success: Millionaire Wealth Strategies Not Taught in School. Available on Amazon.

2 Replies to “Spend Your Money Wisely: Don’t Buy That, Buy This!”

    1. Hi Wealth, thanks for checking out my post!

      I agree, it’s expensive, but think about it: we are 26 TRILLION in debt, a pandemic that’s not going anywhere, some states considering ANOTHER shutdown, unemployment possibly increasing in the fall and just a lot of uncertainty.

      Not to mention zero interest rates and the risk of inflation.

      I think in 12 months, gold could be higher than what it is today. Possibly MUCH higher. But I do agree with you about platinum, and I’m DEFINITELY getting silver, but I see it literally just crept over $20/ounce. We’ll see if it can hold it…

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