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How often should investments be made?

  • CryptoGuru Level X3
    • 8

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    How often should investments be made?

    I know for a fact, many freelancers invest, so how do you guys go about taking the time in putting investments forth. When is the best time to put money down for your business? How does one decide on putting that cash upfront and expand one's work? See there is a lot of thought that goes into decisions like this and we all have bills and things at home that we need to take care of. so when is it best to decide on putting that money into your work?

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    TommyCarey

    TommyCarey

    I think you have it backwards. You should think of it as your businesses money and not your own. Think of it as when should you invest in yourself.

    I pay my bills and buy food for me and my family, that's about it. Everything else goes into my business until I can get to a pinnacle where the profits seem to be maxed out. Once they seem to be maxed out, I start up another venture and do the same thing. This is obviously when you start up, not after you have 100 website all profiting $1,000 a day lol How often should investments be made? I wish I was making that much, but that's just an example.

    You should always be boostrapping. If you're not, your business will crash and burn or you won't hit your pinnacle as soon as you should. Buy yourself something nice here and there, but don't waste your money on crap. Pay for what you need like your car, home, food, and an the random night out with your significant other. You don't need a bunch of fancy things at the start, those will come later after you have a few revenue streams up and running.

    Whenever I pay myself from the profits of my websites I see it as a paycheck. I don't see it as I'm investing what's left in my account to push my business. If you can do this, you'll become successful How often should investments be made? Greed kills a lot of peoples businesses so don't fall into a trap and buy a car you don't need just because you can right now. Your money could dry up tomorrow and you'll have another 3 years of car payments that you're struggling to pay. I've been on both sides, the successful side and the struggling side because I paid myself too much and didn't bootstrap enough.

    Take it from me, don't pay yourself more than you need. Bootstrap whatever you can and you'll see the profits increase month after month How often should investments be made?
    8 years ago
    1969-12-31T19:00:00-0500

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    EliteWriter

    EliteWriter

    Greed kills a lot of peoples businesses so don't fall into a trap and buy a car you don't need just because you can right now. - fully agree with you Razzy. Unfortunately many business people and freelancers do this mistake. The key is to always be cautious I believe. You need to forecast expenses, think about savings, and when you feel you have most of your things covered you will be better able to remain levelheaded with your purchases. Investments need to be made with the aim to improve and expand. So it is best to set goals and work your way to them.
    8 years ago
    1969-12-31T19:00:00-0500

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    CryptoGuru

    CryptoGuru

    goal orientated i like elite writer i like where your coming from and your absolutely right Razzy has made some good points that could really open up a few peoples point of views , setting goals is great i do it all the time small ones are the best easier to knock down and when you get them out the way you feel your accomplishing more instead of being over whelmed by a big goal that you might not be able to reach, in the long i believe it is about making sure you got priorities right, appreciate the comment
    8 years ago
    1969-12-31T19:00:00-0500

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    CryptoGuru

    CryptoGuru

    i appreciate you taking the time to share your thoughts Razzy, and i believe you do come across valid points i see you took the time too mention how that i should look at it as my business money and also look at is as investing in myself, i can fully understand your point of view but as you know purpose of making a living for yourself is too provide for yourself and your family, i completely agree just as you said do not pay yourself more then you need us the excess to invest in "yourself" as you said.
    8 years ago
    1969-12-31T19:00:00-0500

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    Lynne

    Lynne

    Well what sort of bills do you have? If you have debt I would say allocate a nice portion of money to killing off all debt and then I agree with what Razzy and EliteWriter said. Keep investing in your business and take only what you need to live on.
    8 years ago
    1969-12-31T19:00:00-0500

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    Corzhens

    Corzhens

    When I joined some sites to try freelancing work, that was the time when the bubble burst, so to speak, that it was the talk of the town, that so many users were scammed of their earnings. With that issue, I was on the lookout for telltale signs that a site that supposed to pay for my contents would not pay me. And my policy had become safety first with money matters. In the regard, I never thought of investing money in the internet.
    7 years ago
    1969-12-31T19:00:00-0500

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