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Earned Alot of Money But Saved 0% Any Suggestion for Future ?

Discussion in 'General Business' started by razashah, Feb 2, 2014.

  1. #1
    Hello Guys,
    I am freelancer, working on the web from past 10+ years, what my issue here is i earned allot allot money from the web using my skills like

    Development websites, making 3d Models, Provided SEO Solutions and in may other fields i got skilled,

    My earning round about from past 7 Years is around $1,500,00+
    and still earning round about $1000 to $3000 Per Month from my skills through Freelancer, Odesk and few Other sites,

    Right now in my pocket almost $500, means no saving, i invested all money in different things but did not invested it anywhere in the business or something from where i can keep get return, what is your suggestion guys for my future money i will get, where do i invest it, what should i do with it so it give me return as well! i tried purchased websites as well, developed few of my own as well, but too much time wasting, what is your best suggestion where i can invest money and get return at good level and not just store 0% on my pocket ?

    Thanks for suggestions in advance!
     
    razashah, Feb 2, 2014 IP
  2. content4cool

    content4cool Member

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    #2
    I would suggest you to learn for yourself about investing.
    You should do your own thinking behind investments. Not
    because some friend told you to do so. Invest into something
    YOU like and you know. If you don't know then learn about
    it. Don't aim for quick buck it's pointless.
    I mean you can aim for quick buck but only after you did
    your homework.
    That's just my opinion.
     
    content4cool, Feb 2, 2014 IP
  3. sarahk

    sarahk iTamer Staff

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    #3
    that's not investing that's spending.

    You need to put your money in the bank and let it build up until you can invest in a proper business or in property.
     
    sarahk, Feb 2, 2014 IP
  4. Wali Dahot

    Wali Dahot Active Member

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    #4
    Why shouldn't you consider spending this money offline as you are already earning enough by doing freelancing online and you consider making websites for yourself as time wasting even though you develop websites and also provide seo solutions to your clients. So I think you should spend your money on offline businesses, research which business trends are popular in your locality and which suit you. Always go for your choice, one you enjoy doing rather than others choices which you might consider time wasting at the end.
     
    Wali Dahot, Feb 2, 2014 IP
  5. dscurlock

    dscurlock Prominent Member

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    #5
    that really sounds like millions of other people, they earn from their job, and have no savings....
    If you live in US, then $1k/mo is not much income at all if that is your only source; If you live
    in inda, and you earn $3k, then I image you have a pretty decent lifestyle. What you are saying
    is somewhat ironic, you develop sites for others, but yet you can not develop your own sites
    to earn money? This tells me that the sites you develop do not earn money. You sound very skilled,
    so the last thing you want to develop is a site that requires attention like my wife, so if you want to get
    into IM for residual income, then it is trial and error, that is the beast of the game.

    You are the backend to create someones website, so I would think you know who is making money, and who is not; people like to talk, and I would not be surprised if your clients did not come back and say "awesome site, sales are increasing" or god awful site, even the devil wouldnt visit the site you created, and so on.
     
    Last edited: Feb 2, 2014
    dscurlock, Feb 2, 2014 IP
  6. competent123

    competent123 Notable Member

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    #6
    first step to investing is understanding WHAT IS MONEY!

    money flies away like water from a bowl with a hole.
    you really need to understand what is money to actually control it and use it to your advantage.

    read ebook called ,
    The manual of life - money.
    google it.
    - read the ebook about money, its free, without ads or anything.
     
    Last edited: Feb 2, 2014
    competent123, Feb 2, 2014 IP
  7. kalseo

    kalseo Active Member

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    #7
    Invest in your own company. 7 years + as freelancer, certainly you can double-tripple your business.
     
    kalseo, Feb 2, 2014 IP
  8. Wae Athenway

    Wae Athenway Member

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    #8
    Where you spent all this money? I want to know that before giving suggestion.
     
    Wae Athenway, Feb 3, 2014 IP
  9. Deepak patel

    Deepak patel Active Member

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    #9
    Try to Invest these Money with some Share which are more safe with Debenture . Avoid intra day trading. Or you can lock those account for long term with your banks.
    Best thing is that you should invest it with any firm at recurring.
     
    Deepak patel, Feb 3, 2014 IP
  10. Dionne Taylor

    Dionne Taylor Active Member

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    #10
    Stop investing in other ventures and start stacking cash man!
     
    Dionne Taylor, Feb 3, 2014 IP
  11. exodia

    exodia Well-Known Member

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    #11
    I honestly do not believe in saving money without a goal. You should set a financial goal for yourself and then try to reach it. for example you can aim to earn 4x more than you earn now in 6 months. The problem with you is that you cannot scale (grow) because your income depends on you and there is only so much you can do in 24hrs. So best way is to start a studio hire few freelancers like yourself let them do the coding and design while you manage and find clients. Now your service can scale much better and you can throw(invest) money into marketing and growing your business.
     
    exodia, Feb 3, 2014 IP
  12. chase_buie

    chase_buie Greenhorn

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    #12
    Yes i agree with this as well. Talk to a Certified Financial Planner or others who you know about money systems and investments and make decisions for yourself. Make sure to diversify your investment portfolio.
     
    chase_buie, May 29, 2014 IP