Heads up! This email may contain affiliate links Hey, Dylan here. Welcome to another edition of the Swift Saturday Financial Newsletter filled with money-making ideas, money tips, and market updates. Hope you enjoy it! The big money is not in the buying and selling, but in the waiting. - Charlie Munger Today:
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MAKE MONEY Extra Income 💵Bet on yourself to lose weight and win up to $10kHealthyWage is the company offering that opportunity, and they've been doing it for years now. Every once in a while, they offer a prize boost, and right now you can get a $100 boost on your earnings if you hit your weight loss goal. To figure out how much your total prize would be, you can use this calculator. In essence, the higher your weight loss goal and the more money you wager, the higher your potential reward. If high stakes weight loss isn't really your game though, check out these other ways to make money exercising. More focus groupsA lot of you seemed to be interested in the Respondent focus groups I talked about in last weeks newsletter. If you're looking for more focus group sources, check out User Interviews. They claim to post over 2,000 studies monthly with the average pay for each study sitting at over $50. Business Ideas and Stories 💼10 lessons from starting a vending machine businessI came across this vending machine business case study this week and I pretty much always read these things when I come across them. Vending machine business have always intrigued me for a couple of reasons:
Of course, it's not all butterflies. Some of the difficult parts of owning a vending machine business include:
I'd highly recommend reading John's 10 takeaways of vending machine ownership if you're still interested in starting this kind of business on your own. My takeaway? Get a kid as a co-founder! Not only does John mention having a machine at his kid's school (connections!), but kids can probably convince business owners to host their machines a lot easier than an adult could. I mean, who doesn't want to support a young kid starting out in the world of entrepreneurship? There's another lesson here too: Selling within your inner circle is always a good tactic. John mentions having a machine at the place his wife volunteers. Similarly, if you go to a gym regularly, that could be a potential location to pitch. If you know a business owner, that's another. Look in your network before looking outside of it -- it's always easier to sell to those you already know. 🤔 Question for you: Would you start a vending machine business? Jobs 👔
MANAGE MONEY Budgeting 🗒️Kakeibo: A Japanese Mindful Budgeting SystemI love coming across new budgeting methods, and this one caught my eye this week. After seeing how Marie Kondo can whip messy homes into shape with her organizational methods, I figured any budgeting method that originated in Japan had to be good. Here's a quick breakdown of how it works:
You can get the more detailed guide on Wallet Hacks. As you can see from the quick breakdown though, this system is completely paper based. Writing down your financial activities forces you to really think about whether they fit your needs, goals, and desires. In a CNBC article on the Kakeibo method, it's recommended to ask yourself the following questions before purchasing any non-essential item:
If you can actually remember to do this, and you answer the questions realistically and accurately, it can make a big difference in terms of helping you get the most out of your money (while wasting less of it). Bottom line? This budgeting method can help you gain new insights into your spending and help you save more money for your important financial goals. Saving 💰Get 100% cashback on game day favoritesIbotta is running a "Big Game" campaign where you can get 100% cashback on things like "pizza, wings, chips and dip and more." Worth checking out if you're planning a Super Bowl party or if you just enjoy free food! Learn more here.
MULTIPLY MONEY Market Recaps ⚡📈 Stocks
Source: Google Finance Stocks had a good start to the week until Thursday's U.S. inflation report rolled around. Even with experts predicting an uptick, numbers still ended up being higher than expected, with the consumer price index rising 7.5% year over year (6% if you exclude food and gas prices), the largest annual increase in 40 years. Headlines:
🔮 Crypto
Sources: Google Finance and CoinMarketCap. Price data as of 6PM PST Crypto overall had a similar week to stocks. Prices were on the rise throughout the week but declined on Thursday after the U.S. inflation report. In the end, things ended up staying relatively flat. In other more interesting news, the Bitfinex hackers from 2016 were caught and over $3 billion of Bitcoin was recovered by the U.S. Justice Department. The two main suspects have been getting roasted online for storing their private keys in a cloud storage account (and also making really bad YouTube rap videos). What's most interesting about this story though is how, even though the couple used multiple techniques to launder the money and cover their tracks, they were still caught. Goes to show that crypto might not be as beneficial to criminals as previously thought. Other Headlines:
Reading List 📖Interest rate increases are coming...how will they affect the market?After seeing the January inflation report, there's a really good chance that the U.S. Fed is going to start raising rates starting in March. No one knows how aggressively they'll go about this, but most are quite positive it's going to happen. We've already seen how the anticipation of this affects the stock market (especially high growth areas like tech), but what will happen when the rate hikes actually come? Market Sentiment has a good breakdown, with data on how past rate changes have affected the markets. In short, interest rate increases typically result in:
Tips and Tricks 💡Get free stocks and crypto
Hope you enjoyed this week's letter! Which part was your favorite? What do you want to see more or less of? Hit reply and let me know! Enjoy the rest of your weekend! - Dylan How'd you like today's newsletter? |
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