best way to make good use of money..
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Topic: best way to make good use of money..
Posted By: BaAsKa
Subject: best way to make good use of money..
Date Posted: 13 October 2009 at 1:46pm
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im wanting some suggestions on what to do with money in order to make good use of it (possibly make more money off it)..
Iv thought of buying a bussiness, developing (dont quite have enough for that though), investing...yeah thats all i can think of and at this point none of my suggestions are feasible.. suggestions much appreciated 
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Replies:
Posted By: FreeSpirit
Date Posted: 13 October 2009 at 2:12pm
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Investing it in a term deposit for now - that way it makes you money while you decide what to do with it when it's free again.
Purchase a rental property - in the current market, it really is a great time to buy, and even if you can't afford the total cost of the property, the rent will pay the mortgage. ------------- http://www.babysfirstsite.com"> 
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Posted By: BugTeeny
Date Posted: 13 October 2009 at 2:14pm
Invest in me  ------------- 
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Posted By: surfergirl
Date Posted: 13 October 2009 at 2:16pm
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Where do your skills lie? If you're good at painting/gardening/sewing etc then property might be the way to go. If you're good at accounts/numbers and don;t mind risks then learnign share trading or currency trading could be good. If you have management skills then purchasing a business might be a good idea. If you want (relative) safety then investing in term deposits etc could be the idea. I think that the best option is seeing where you and you DH's skills lie and making the most of them. Good luck! ------------- http://www.alterna-tickers.com"> 
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Posted By: mummyofprinces
Date Posted: 13 October 2009 at 2:57pm
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You could have a chat with an investment advisor. Your bank will have one, they will be able to go over your options in terms of investments and its free -------------   
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Posted By: clover
Date Posted: 13 October 2009 at 3:57pm
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There isn't really anywhere 'safe' to make decent money investing at the moment. To make a quick few bucks buying US$ is a pretty good idea at the moment, the share market is still unstable and the returns on most other managed funds are rubbish. TD rates are pretty crap as well, I get the same rate in my savings account and the money is still available to me as and when I need it.
Sorry, none of that was much help was it! |
Posted By: BaAsKa
Date Posted: 13 October 2009 at 5:28pm
lol charly!
i don't want to owe to a mortgage and DH doesn't want to deal with tenants. I actually love working with numbers so the second one could possibly be the 1! Iv got a term deposit. DH is a builder and I'm really good with paperwork and numbers so thought about buying a building business (not starting from scratch) but DH isn't too keen on that idea!   ..difficult man! which is why I'm gathering ideas to put to him
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surfergirl wrote:Posted By: GuestGuest
Date Posted: 13 October 2009 at 5:32pm
| I'd be buying pounds and euro at the moment. The exchange rate is incredible! |
Posted By: Red
Date Posted: 13 October 2009 at 5:39pm
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Or US dollars. We did this a couple of years ago through ASB bank. ------------- http://lilypie.com">  http://lilypie.com">
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Posted By: BaAsKa
Date Posted: 13 October 2009 at 5:58pm
| how does all the exchange stuff work?? how do you make money off it?? |
Posted By: emz
Date Posted: 13 October 2009 at 7:35pm
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Buy low, sell high
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Posted By: BaAsKa
Date Posted: 13 October 2009 at 8:13pm
| guess i need to learn alot because i know nothing about any of that but it sounds very interesting!!! |
Posted By: GuestGuest
Date Posted: 13 October 2009 at 10:17pm
| Using British pounds as an example, to buy one British pound at the moment it will cost you around NZ$2.10. That is incredibly low! So if you were to buy say 1000 pounds today it would cost you NZ$2140.00. Then you need to wait for the exchange to go up again, say back up to NZ$3.00 (for arguments sake), sell it, and you have just made close to a grand. |
Posted By: BaAsKa
Date Posted: 14 October 2009 at 9:40am
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oh neat! i think im going to try that! but il start off small to get the hang of things!
thanks heaps for all suggestions!
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Posted By: Inlove28
Date Posted: 14 October 2009 at 10:04am
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I would speak to a couple of people that might have dairy farms etc..... Buying new calves is very cheap this year. We paid $50 per calf and in two years they are worth $2000+
Just a suggestion! |
Posted By: T_Rex
Date Posted: 14 October 2009 at 10:46am
 $2000+ isn't standard pricing for dairy heifers round here. It was the going rate during the dairy bubble but only for a couple of years. I paid $600-$725 for VIC 2yo heifers this year - hence why calves are $50. Personally I don't see the market picking up again in a hurry.
With the foreign exchange rate stuff, you also have to take into account the interest rates for the 2 currencies etc. If you have to hold the foreign currency for say 3 months, but the interest on the foreign currency account is substantially lower than the interest you'd have earnt on NZ dollars, that eats into your profit. Also there is usually a commission on each transaction (ie. NZD to FX and then again on FX to NZD) - this can also eat your profits up. You can still make money out of it, but there is quite a bit to learn! There are formulae etc. that will help you figure this all out If its something that interests you, it could be quite fun. In order to know what currencies to invest in, and when to sell ones you have, you need to keep up to date with all kinds of things going on in the world that affect exchange rates - government policy, interest rates etc. There is a lot to keep up with so you need to be interested in it or it will get tedious and boring pretty quickly - and then you'll start making uninformed investments (and not much profit!).------------- http://lilypie.com">  http://lilypie.com">
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Posted By: riiupw265296
Date Posted: 17 February 2021 at 7:29pm
| Are there any forex traders here? I am trading on a few platforms now. I followed the recommendations found on the www.tradersunion.com https://tradersunion.com/" rel="nofollow - forex site . It is interesting to find out what brokerage companies other traders find reliable. I deal only with officially legitimate brokers that allow you access to the trading terminal features with the minimum investments. |