Show me the money...Economics 101 for ex-dubs

by Mindchild 13 Replies latest jw friends

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  Mindchild

  In light of reading about the discouraging circumstances that many ex-JW's find themselves in because of not having taken advantage of educational opportunities or other employment related training in the past, I was wondering if there was an interest in discussing practical ways for people to increase their bottom line and get out of the poverty or near poverty zone.

  I would think that there might not only be some useful tips and hints from some of the more successful ex-dubs but we could exchange in some downright capitalistic networking and make useful connections that might either land you a good job or better your lot in life by say getting things at a discount.

  Personally, after leaving the Borg, I have had a fairly successful business career which included a variety of accomplishments that ranged from opening up America's first discount college textbook store to being an international privacy consultant and most recently a research scientist.

  I've helped people establish credit when they had zero or worse than zero credit ratings, taught classes on entrepreneurship at college, and I've seen and networked with a wide variety of people that made amazing amounts of money by finding something they were good at and that was off the beaten path (you seldom get rich doing something everyone else is doing.)

  Anyway, just wanted to see if there was an interest in discussing anything like this.

  Kind Regards,

  Skipper
• 

  Naeblis

  What's your expert opinion on lottery tickets? I figure I gotta win someday!
• 

  Mindchild

  Hi Naeblis,

  Do you want the news sugar coated or straight?

  You can expect to win someday, but technically the odds are that you will have spent about twice as much as you will ever get back. Here are a few interesting links about gambling that might interest you:

  This is the Ten Commandments of Gambling:
  http://www.thewizardofodds.com/game/tencom.html

  This is a webpage about the lottery and strategies:
  http://www.thewizardofodds.com/game/problottery.html

  If you are looking for a realistic way to make money gambling, about the only smart way would be to do it by setting up an offshore gambling casino but you would need big bucks for that.

  A more intelligent way that really works for making money by winning things is to become a professional contestant. I'm not talking about the people who end up on Jeporady or some other game show, but the people who keep a low profile and typically make about $100K plus a year by entering contests and doing this for a living. I've meet people in person who do this and it is neither illegal nor a fraud, it is simply understanding the mathematics and thinking outside the box.

  In the meantime, only play the lotto for fun:-)

  Skipper
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  Naeblis

  I was only kidding around but there are people that actually play contests and such as a career? This appeals greatly to my lazy nature (My score was of the scale on the lazometer)
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  bboyneko 2

  I just work a lot of jobs to get the needed cash, and Im pursuing my own small business. I already teach breakdancing at $30/hour among my many extra odd jobs. I think the best advice you can give someone about money and avoiding debt and financial ruin: Credit cards are the devil.

  You need credit of course, a good credit rating. But don't go out and buy a gazillion things on your credit cards and maxing them all out.
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  Mindchild

  Naeblis,

  The last time I checked, there were roughly over 10,000 people who are professional contestants in the USA alone and who make this a full time occupation. I've met two of them in person. One fellow I met in Tucson, Arizona made a living out of contests on the radio stations. I had a security business at that time and for advertising reasons I gave away a complete home alarm system through a radio station. All you had to do was be the 10th caller and figure out which song it was (from an obscure classic rock tune). Well, this guy won it the second day it played on the air. When I went over to his house, he had three cars for sale in the front yard, a boat, 5 bicycles, a motorcycle, a few TV sets, and much more he was selling. He won all of them through radio station contests. When he invited me into his house, he showed me his command center that had ten different radios tuned to different radio stations, ten different phones (all programed with station phone numbers) and a computer he could consult to get title and artist from a huge database. He simply sold the stuff he won to make a decent living. He was somewhat depressed that year because he only made about $76,000! Not too bad for a down year.

  The other person I met didn't know squat about music but had a similar approach for entering local contests by filling out entry forms. Instead of filling out just one entry form, she would take the entry form to a printer, and after she wrote in her name, address, etc. would get about 50,000 printed up, and then stuff the boxes full. It was completely legal, and her house was full of stuff she sold from contests she won.

  Just goes to show you that innovative thinking can pay off. Don't know if this would suit someone lazy though as both of these people worked long hours to make their money.

  So, think twice about the next time you go into Booger King and fill out the entry form.

  Skipper
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  JT

  A more intelligent way that really works for making money by winning things is to become a professional contestant. I'm not talking about the people who end up on Jeporady or some other game show, but the people who keep a low profile and typically make about $100K plus a year by entering contests and doing this for a living

  #######

  i couldn;t help but think of this lady back in NC who does that- she ENTERS every single contest and program she can find- from what i heard she avgs about $65,000 a year which aint bad living in the part of NC where my folks are from
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  Mindchild

  Bboy,

  You are right on about credit card debts. Most people don't realize how easy it is to be suckered into using these things and ending up paying enormous interest rates.

  I suggest using credit cards for only dire emergencies UNLESS you use them to make money. I have personally made a bundle by using credit cards to make money but you need to be careful and know what you are doing. Perhaps a more practical way of using credit cards is to enjoy using them only to get the frequent flyer miles, which are now also useable for car rentals, hotels, and vacation packages. I would typically charge everything to my AMEX (American Express) and get 1 free flyer mile for each $1 I spent. As I typically would spend over $5,000 a month, these would add up and as a result, I got free transportation for my vacations. Now that I'm not about to get on jets again because of security issues, this application doesn't appeal to me. Besides that, I like my privacy and AMEX and the rest of the credit card industry would sell my private info and as a result I would get tons of junk mail. If you want privacy, I suggest you dump all your USA credit cards and go with an offshore VISA debit card. This way, nobody knows your finacial business.

  Skipper
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  LDH

  A couple of years back, there was a contest for some chocolate pudding. I think the promo was "collect a million miles and your family will fly free for life!"

  After having his attorney check the rules, he bought $5,000 worth of Chocolate pudding, and tore the UPC codes off all the boxes. The pudding he donated to charity.

  Upon his submission of the required miles, which totally shocked the hell out of the contest organizers (who would ever buy $,5000 worth of pudding?) they had no choice but to award his family of four free flights for life.

  This article was in People magazine.

  Lisa
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  Mum

  There are some government jobs with good benefits which require minimal skill and education. Check out state and local government websites for job listings. I work for a local government agency and have before me the possibility of actually being able to retire one day!

  If you need help with an online or offline job search, e-mail me.

  Regards, Mum