Best type of investment for 18 year old student with extra money?
Here is my current financial situation: • I work an average of about 25 hours/week during school and 50 hours/week during summer for an average of about $10/hr (I expect my absolute minimum income to be around $10,000 even if I get sick for a month or two, or I have large unforeseen expenses) • I rarely have to spend money, usually I spend about $100 per month so lets be safe and say $200, times 12 months is $2,400 expenses • I have a car but ride my bike everywhere • I'm on full scholarships to school (including room and board) • I have about $10,000 from working in past summers. • My family lives in town so in the absolute worst case scenario I could live with them until I graduate from college in four years. • Obviously I don't have any dependents, medical conditions, or other financial obligations. So my question is: what should I do with my money? I project to have a minimum of $7,600 excess cash per year based on my numbers above. I absolutely love my jobs and that's why I have them. I like having about $10,000 in cushion money in case of some kind of disaster (I can't even imagine what would happen that I would need it, but oh well), so I'm looking for something that I contribute to on a monthly basis or something like that. What kind of investments should I look into?
What is the most profitable business you could start with only $5,000?
I started a business that grossed about US$300,000 some years ago with about US$3,000. I was traveling internationally quite a bit back then and came across a unique hand-crafted product that appealed to many in the gift and ethnic gift market.With a suitcase of product I spent $2500 on a trade show stall and about $500 on gas/hotel/food to attend the show. I didn't have a fancy booth and I lit my product with a few clip on lights that I had spray painted black. I also used black spray paint on cardboard that served as my displays. It may sound tacky, but it actually looked pretty nice and it helped my items stand out.So I loaded up my wares in my SUV and drove myself to the trade show. I booked a cheap motel that had free parking. I ate at burger places. I worked the two-day show by myself and made sure I was always standing and showing my goods while sharing the story of how my items were made, where they came from and what an impact the items had on the local community that made them. Since I didn't have any inventory besides what I had on display, I asked buyers to select a shipping date set for a future time that would allow me to acquire, label, pack and ship the product. I pre-booked sales of just under $30k at the show!With my pre bookings I borrowed another $5000 from family to put toward merchandise and I used credit cards for shipping materials (boxes, labels, scale, etc.) and setup shop in my garage.Within about a month I had a Fedex truck picking up from my home on a daily basis. I also put together a simply, but attractive and informative website on my own and followed up on every lead that I acquired from my initial trade show. Reorders started coming in, new orders from my follow through trickled in and before I knew it I had a real business that I was running out of my home.
Should I purposely have my car reposessed?
I have owned my current vehicle for 10 months. I desperatley want to trade it in for a new vehicle. However, trading it in would mean adding 6k of negative equity. This makes the new vehicles price much higher than it is worth and requiring $1800 down. However, if I do not trade in my vehicle, my payments would be lower and I would only need $500 down. Yes I know this would be horrible to have on my record. However, I actually had a repo 3 years ago (and was still able to finance a vehicle). Not to mention by keeping this newer vehicle and making all successful payments it should prove that I was responsible.
Is it possible to get a $10000 limit on first credit card?
Sorry but its very unlikely that any credit card company will issue you a line of credit that high unless you have other cards with similar limits, an impeccable rating and a sufficient income level. I understand what you're trying to do but I'd say investigate other ways to accomplish your goal. Good luck
How can i make 10 grand in 2 months LEGALLY ?
Desperate times call for desperate measures. There is no easy way to find a job that pays this much, so one possibility is to sell or auction as much stuff as you can. You may be surprised at what you can live without and just think of all the extra space you'll have. Other than that, the only alternative is to have a wonderfully original idea that attracts visitors (preferably paying) like moths to a flame. Very hard to do but not impossible - http://www.themilliondollarhomepage.com is a good example. Good luck.
Is it better to buy a base model car and customize it, or a Higher end car with all the good stuff?
From an insurance standpoint, unless you have an additional "rider" put on your policy, custom parts won't be covered in an accident. On the high end model, all the standard "good stuff" is covered. Personally, for what you're talking about, I feel that it's better to buy a base model car and customize it. Base models already come with a lot of features these days. However, the collision-avoidance safety features such as lane centering and auto-braking on high end models can save you a lot on insurance premiums. Also be advised that some customizing to the engine or drive train, such as an add-on turbocharger or ECU "tuning kit" can void the warranty.
I got screwed by a car dealership!!! HELP!!?
(this is for a friend actually) The sticker price was $10,000, her interest rate given was 23.99% (really bad credit, no co-signer), and somehow her total loan amount came to $22,000!!! Does that sound right to you???