Avoid ‘Shiny Thing Strategy’ to Make Money

It doesn’t matter if it’s about earning more money or investing for the future, there is a limit to how long someone can take being told “Hey, it’s tough but you have to keep going.” Keep going. Keep in mind that you are here for the long-term. ”

You might feel that you have to find a better way when faced with rising prices, tight budgets, and a volatile stock market. ”

Is it? Really?

If the stock market offers you more thrill than you can handle, it is tempting to cash out to find other investment options.

When someone tells you about something new and shiny.

This could be an other investment : Commodities and hybrid bonds, leveraged single stock exchange-traded funds and hedge funds, private equity and preferred securities, real estate trusts, structured notes, and convertible securities are just a few.

These investments are designed by creative people. A new hybrid index fund invests only in large-company stocks and allows overnight trading. This is how it works: The fund purchases stocks after the stock market closes, and then sells them when the market reopens. Let me give you time to think it through.

These ideas could be used as a part of a portfolio but are best for people who have the investing basics covered.

Other big-money ideas can quickly take a nasty turn:

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  Lottery tickets, and sports betting apps
  

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  Crypto (especially when you take on more risk than you are prepared).
  

No matter what the idea, and no matter who is pitching it, ensure they are able to explain the details of the investment (the benefit and the drawbacks) in an easy-to-understand way.

What are the chances that they won’t?

Perhaps you are looking to increase your income.

Every few weeks I get an invitation to wrap the car with the logo of a national company to earn “easy income” by driving as normal. While there are legitimate companies that offer this service, many of these “wrap my car” offers are fraudulent.

The Federal Trade Commission states that car wrap fraud starts when the scammer makes a large payment. This is more than the income agreed to. The scammer will ask you to deposit all of the money and keep some. However, he will immediately send a separate payment to the detailer who will install the vehicle graphics. The scammer is receiving the payment. However, the check you were issued is null.

These fake checks scams come in many forms. Particularly be wary of text messages that come from email addresses and not phone numbers.

Beware of other quick-money schemes:

Ask questions like: If you are looking for an alternative investment opportunity or a new income stream, consider the following:

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  Is the idea proven to be successful? Many of the strategies that require you to be on the ground floor don’t work. This is a revolutionary, new approach and nobody has made any money yet. It’s not yet a losing strategy. Are they open to admitting that they have?
  

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  Does the recommendation come from someone who has invested a lot in the idea, and can provide proof?
  

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  What are “guarantees”, in writing?
  

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  But, Do these promises sound too good to true?
  

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  Do you really want to lose your money?
  

There are no easy answers, whether you’re looking to increase your income or save and invest. You will need to be patient and plan carefully.

It’s hard, I get it. But you have to keep going. Keep going. Keep in mind that you are here for the long-term.

Inflation is the increase in the price of goods and services. It can be measured in three ways: 1) before the product reaches the consumers, 2) prices for goods or services reported by consumers, and 3) prices reported by businesses. To spot a trend, economists will look for the smallest change.

According to the latest reports, October saw signs of slowing for the Producer Price Index (and the Consumer Price Index), which are the two first inflation measures. Although overall prices weren’t moving lower, they were still rising at a slower pace than in recent months. Are small moves normal?

These may be early signs of hope that the inflation tide is turning.

Banks were once the main target of theft. The saying “That’s the money” was the mantra back then. Many banks today look more like coffee shops than cash vaults. There are more baristas than bankers. The real money, apparently, is in the meat.

Last month, a Miami-based crime ring was caught loading 18-wheelers with frozen beef and pork. The gang stole 45 packages from Midwest packaging plants. The haul totalled $9 million.