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i need to get my hustle on. i used to by cell phones and resell em for a small profit but not anymore.
OFFICIAL BROKE to BALLIN thread --- Let's Get It! (motivation for young hustlers) UPDATED 3/15/10
- Thread in 'General' Thread starter Started by general johnson,
- Start date
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yo remember me
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OK, I made $730 in stocks last month and bout $400 in side hustles
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QFT. The goal here for a lot of you self starter types trying to make it shouldn't be to quadruple your money asap. You need to start with sustainable business models that will grow over time. I respect the hustle but I'd rather see a lot of you turning nothing into a steady stream of income by the end of the year.
What's your business plan? Send me some information. There's always money for a good idea.
Originally Posted by recycledpaper
looks like you're gonna have to get a new name. i just parked the domain because you didn't.
jk
Dirty
We not talking about drugs or illegal hustles in here... and even if that is your hustle, it shouldn't be your main hustle. There's too many opportunities out there for you only be dealing with one industry. Especially a volatile, high-risk one like selling. IMO drugs are too easy of a hustle, that's why anyone can get involved.
riverxbear
Banned
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ima be spectating as well.
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Lets get it.
Great idea. The hard part is keeping all of these slouches on their toes honestly participating.
I'm going to start this off with a blank slate, lets see what I can get popping.
Great idea. The hard part is keeping all of these slouches on their toes honestly participating.
I'm going to start this off with a blank slate, lets see what I can get popping.
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Great idea for this thread. Since last week I've been really working craigslist and pulled in what I say is a good amount for one week. I need to keep it up though.
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Originally Posted by ATLien Seeko
Son might wanna clarify himself on that one.
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- May 13, 2009
- Should change the title & put an "Official" at the beginning.
- Assets as well as money should be counted in (for people like me who plan to buy a car AND get more money)
- Count me in.
- Assets as well as money should be counted in (for people like me who plan to buy a car AND get more money)
- Count me in.
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good thread im down $$$$$$$$$
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made $5500 this week , etc
6 Rings G.O.A.T.
Supporter
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*bookmark*
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Hi NT,
Common sense is hard to come by use it wisely.
Managing Debt and boost your credit score
Cons
-allow your spending to spin out of control
-adverse impact on your civilian & military career
Plus
-save a lot of money in terms of interest expensive
may allow you to get a lower loan
-need to know your credit score
-it's used by lenders, employers, insurers to make decisions about you( it is the number that financial institutions take a quick look at if they are going to lend you money and at what rate
350-800 is the range, may allow you to get a lower loan
750-850=excellent
660-749=good
620-759=fair
300-619=poor
-e.g. 20k car
20Kcar/5yearLoan faircredit excellentcredit
interest 11.99% 5.24%
mthlyPymnt $444.79 $379.63
totalInterest $6687.27 $2777.68
-e.g. cost of credit card
3K vacation@13.5 $25 $150
mthlyPymnt $3634.00 $323
TotalInterestPaid 16yrs 2yrs
-find money and commmit to pay over the minimum
How it is compiled
-scores are calculated by FICO by Fair Isaacs
-Payment History 35%-do you pay your cards and payments on time and everytime
-Amounts Owed 30%- relative to your maximum allowable balance (if you have a credit limit of 10k and you owe 10k
that will not be good on your score, so don't exceed 50%
-Length of Credit History 15%- have you been managing your credit well over the 5 or 15yrs (the longer the better, don't close the credit cards, keep the longest credit card open b/c it has history
-New Credit 10%-any credit applied for is considered credit (don't take the offer from the retailer to get that credit card that they give out, b/c you save 10% but you're stuck w/ that for the rest of your life since the savings is so minimal compared to the actual interest you will be paying)
-Types of credit 10% - e.g. managing house payment, credit cards, school loans, if you manage that well, you do better
-know what you owe know your interest rate, what your payments what you owe and then submit a plan of attack
-avoid debt payment centers due to scam, seek out the company directly if you can
-if you are forgiven part of credit card debt, it will be taxed to you so be careful
e.g. if you owe 20k and you paid 10k and are forgiven the final 5k, that 5k will be taxable in your next tax year
which will stay w/ you for 7yrs, choose wisely
-debt consolidation can be a good idea- clump them together w/ one fixed rate and 1 payment w/ a fixed date, but be careful
b/c you can charge again, since you know the debt and the payments
-get help when you need it by credit counseling nfcc.org
-debt management plan for $25.00, this is only for people that really needs this!
-pay em off one-by-one (one at a time)-feel pain to be deterred
-attack the highest-rate debt first (after paying off one debt, redirect your additional money to the next highest)
-okay to pay off small-balance nuisance accounts first
-track your spending for two months (the devil is in the details)
-budget is the core of financial success
-cut back on optional expenses (I.E Wear your sneakers and stop buying doubles and triples!),
-sell things you don't need any more to raise extra cash
-catch up on late payments-get current and be/stay current
-pay-off collection accounts(disagree w/ cellphone bill and you decide not to pay, then you loose, b/c that shows that you will not make your payments)
-pay down credit card balances (don't exceed 35% of max limit, so e.g. 1k limit, don't go over $350)
-manage your credit-pay balances on time and everytime, keep longest payment history card, use it every month
-need to keep 6mths of living money
---------------
-what happens to your credit score when you have a cc that have a 0 balance that may have had a high balance then the cc co. lowers the credit line?if you don't owe any cc debt it will not hurt you, if you owe 0, then you will have a ratio credit balance/maximum allowance
-
-young person <45 = stocks will be the way to gain weight (pesos) (house of straws)=risk, but you're young enough to recover;the earlier you start investing the better
-old person >45 = 401K,mutual,TIPS, treasury,cd's = stable weight, (house of bricks)
-entrepreneurs= risk takers,but one must weigh the risks
-capital gains tax=ebitda
Common sense is hard to come by use it wisely.
Managing Debt and boost your credit score
Cons
-allow your spending to spin out of control
-adverse impact on your civilian & military career
Plus
-save a lot of money in terms of interest expensive
may allow you to get a lower loan
-need to know your credit score
-it's used by lenders, employers, insurers to make decisions about you( it is the number that financial institutions take a quick look at if they are going to lend you money and at what rate
350-800 is the range, may allow you to get a lower loan
750-850=excellent
660-749=good
620-759=fair
300-619=poor
-e.g. 20k car
20Kcar/5yearLoan faircredit excellentcredit
interest 11.99% 5.24%
mthlyPymnt $444.79 $379.63
totalInterest $6687.27 $2777.68
-e.g. cost of credit card
3K vacation@13.5 $25 $150
mthlyPymnt $3634.00 $323
TotalInterestPaid 16yrs 2yrs
-find money and commmit to pay over the minimum
How it is compiled
-scores are calculated by FICO by Fair Isaacs
-Payment History 35%-do you pay your cards and payments on time and everytime
-Amounts Owed 30%- relative to your maximum allowable balance (if you have a credit limit of 10k and you owe 10k
that will not be good on your score, so don't exceed 50%
-Length of Credit History 15%- have you been managing your credit well over the 5 or 15yrs (the longer the better, don't close the credit cards, keep the longest credit card open b/c it has history
-New Credit 10%-any credit applied for is considered credit (don't take the offer from the retailer to get that credit card that they give out, b/c you save 10% but you're stuck w/ that for the rest of your life since the savings is so minimal compared to the actual interest you will be paying)
-Types of credit 10% - e.g. managing house payment, credit cards, school loans, if you manage that well, you do better
-know what you owe know your interest rate, what your payments what you owe and then submit a plan of attack
-avoid debt payment centers due to scam, seek out the company directly if you can
-if you are forgiven part of credit card debt, it will be taxed to you so be careful
e.g. if you owe 20k and you paid 10k and are forgiven the final 5k, that 5k will be taxable in your next tax year
which will stay w/ you for 7yrs, choose wisely
-debt consolidation can be a good idea- clump them together w/ one fixed rate and 1 payment w/ a fixed date, but be careful
b/c you can charge again, since you know the debt and the payments
-get help when you need it by credit counseling nfcc.org
-debt management plan for $25.00, this is only for people that really needs this!
-pay em off one-by-one (one at a time)-feel pain to be deterred
-attack the highest-rate debt first (after paying off one debt, redirect your additional money to the next highest)
-okay to pay off small-balance nuisance accounts first
-track your spending for two months (the devil is in the details)
-budget is the core of financial success
-cut back on optional expenses (I.E Wear your sneakers and stop buying doubles and triples!),
-sell things you don't need any more to raise extra cash
-catch up on late payments-get current and be/stay current
-pay-off collection accounts(disagree w/ cellphone bill and you decide not to pay, then you loose, b/c that shows that you will not make your payments)
-pay down credit card balances (don't exceed 35% of max limit, so e.g. 1k limit, don't go over $350)
-manage your credit-pay balances on time and everytime, keep longest payment history card, use it every month
-need to keep 6mths of living money
---------------
-what happens to your credit score when you have a cc that have a 0 balance that may have had a high balance then the cc co. lowers the credit line?if you don't owe any cc debt it will not hurt you, if you owe 0, then you will have a ratio credit balance/maximum allowance
-
-young person <45 = stocks will be the way to gain weight (pesos) (house of straws)=risk, but you're young enough to recover;the earlier you start investing the better
-old person >45 = 401K,mutual,TIPS, treasury,cd's = stable weight, (house of bricks)
-entrepreneurs= risk takers,but one must weigh the risks
-capital gains tax=ebitda
- 425
- 10
- Joined
- Jan 28, 2004
kicksfiend wrote:
The key to success is turning that decent return into consistent returns.
That's real talk rite there....
...in anycase this sounds interesting and I'm down for the fact that I need to be motivated.
I am currently going through some transition with career: My decent day job is having a seasonal cut back and I'm not into waiting for getting re-hired anymore. My major is visual art and been working on as an illustrator/painter/concept artist earlier on in my career but took my current day job (Teaching) since the pay was lot more steady and solid than freelancing.
After reading this post and with the current situation, I am determined to re-devote myself to the art industry. My goal is to be by the end of the year have multiple source of consistent income from my art profession.
That being said check my site ---> www.rollersstudio.com
Anybody need design, illustration, album art, or anything you see that fits your purpose 4real holla....I am down to collabo!
The key to success is turning that decent return into consistent returns.
That's real talk rite there....
...in anycase this sounds interesting and I'm down for the fact that I need to be motivated.
I am currently going through some transition with career: My decent day job is having a seasonal cut back and I'm not into waiting for getting re-hired anymore. My major is visual art and been working on as an illustrator/painter/concept artist earlier on in my career but took my current day job (Teaching) since the pay was lot more steady and solid than freelancing.
After reading this post and with the current situation, I am determined to re-devote myself to the art industry. My goal is to be by the end of the year have multiple source of consistent income from my art profession.
That being said check my site ---> www.rollersstudio.com
Anybody need design, illustration, album art, or anything you see that fits your purpose 4real holla....I am down to collabo!
- 6,782
- 18
- Joined
- Dec 29, 2006
1MM by the end of this year?
Yeah maybe if you trade derivatives.
Yeah maybe if you trade derivatives.
- 29,506
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- Joined
- Dec 23, 2009
I'll PM you.
Without getting into details, it's mostly a direct mail marketing company.
And I'm not lookin to be ballin like a rap video by the end of the year
riverxbear
Banned
- 1,864
- 10
- Joined
- Jan 20, 2009
shoot i work at footlocker and hustle kicks on the side
i think im doing things when i got a stack , but once you get a REAL job thats when you can make money.
Learn your trade than have your own buisness .
i think im doing things when i got a stack , but once you get a REAL job thats when you can make money.
Learn your trade than have your own buisness .
Majorbread
formerly 40inchboost
- 4,453
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- Joined
- Jul 16, 2009
Listen I see you in the Trading thread and I respect that. But when you dont even know what i'm in then how can you comment like that? I know my math, ya if i put 450 in a big board stock then ya gains will be minimal. However Im involved with small cap stuff, which is entirely different.Originally Posted by kicksfiend
Sorry pal, but it isn't that simple. I'm a day trader so I know the business. I doubt your moves are that serious. If anything they may put you on the path to coming up but with only $450, you'd be lucky to made a decent return. The key to success is turning that decent return into consistent returns. No one stock is going to make you a millionaire. Even dudes staring straight at a winner manage to mess it up. Look at Warren Buffett's son. In the later BusinessWeek, he tells the story of how he sold $90,000 worth of Berkshire Hathaway stock that his pops gave him. If he had held it, he'd be sitting on 8 digits easy.
general johnson
Banned
- 4,624
- 13
- Joined
- Apr 1, 2009
Glad to see dudes are coming through enthusiastic about their stacking.
So check, for cats already posting figures, let's get this organized. Post where you're starting as of today and we'll go from there.
You made 5Gz last week? Cool. That was last week.
You need to make that part of your start up and flip that into bigger numbers. We need proof too.
Let's Get It!
So check, for cats already posting figures, let's get this organized. Post where you're starting as of today and we'll go from there.
You made 5Gz last week? Cool. That was last week.
You need to make that part of your start up and flip that into bigger numbers. We need proof too.
Let's Get It!
Nike Jordan
Supporter
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- Jun 27, 2002
If I only knew where to start...
- 549
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- Feb 24, 2005
Originally Posted by 40inchBoost
Listen I see you in the Trading thread and I respect that. But when you dont even know what i'm in then how can you comment like that? I know my math, ya if i put 450 in a big board stock then ya gains will be minimal. However Im involved with small cap stuff, which is entirely differentOriginally Posted by kicksfiend
Sorry pal, but it isn't that simple. I'm a day trader so I know the business. I doubt your moves are that serious. If anything they may put you on the path to coming up but with only $450, you'd be lucky to made a decent return. The key to success is turning that decent return into consistent returns. No one stock is going to make you a millionaire. Even dudes staring straight at a winner manage to mess it up. Look at Warren Buffett's son. In the later BusinessWeek, he tells the story of how he sold $90,000 worth of Berkshire Hathaway stock that his pops gave him. If he had held it, he'd be sitting on 8 digits easy.
Fall back
Listen I was even trying to get at you BUT since you seem to think I was, I might as well. Ain't NO WAY you turning that $450 into figures. I trade everything INCLUDING penny stocks. I definitely know more about how they work than you do. So when I tell you there's no way your moves are that serious, I'd put money on it that it's true. What do you expect to gain off that one trade? Let's say you're right and the stock jumps 1000%, netting you a return of 4500. Add your 450 on top and you're account is valued at $4,950 minus any transaction costs. If you understand the game as much as you claim you do, you should already know that getting out at the top is impossible. I RARELY ever do it myself and I make a living off trading. Either you sell into buying, which is best case because penny stocks are usually illiquid so selling can very easily push the price downward (however since there's buying absorbing your selling, you're probably getting out before the peak), or you sell into selling which is already pushing the price down. Either way, you're not getting out at the top and your account's value falls. Let's say you sell around 900% return. So your account is valued at $4500 flat minus any commissions. You made 900% return off an extremely volatile movement. $4050 United States Dollars. Congrats...
However at the same time, there are other people making money in the market. You might feel like a boss with your 900% return but you only made $4,050 off that trade. People like me can throw 10 times that into an options strategy and generate that type of return with FAR LESS risk. Hell, on the day that you made that trade, Goldman Sachs may have put $100 million in the market and generated 1000 times that in minutes. Your moves are not serious. No matter what you want to think, you're insignificant in the grand scheme of things. I don't care if your feelings are hurt, it's the truth. Don't worry though, to some bigger fish, my moves ain't serious either.
I still stand by what I said. That $4050 isn't "coming up". However it's a good first step. The key to making more money is to leverage that one success into future success. You need to turn that money into consistent returns. You need to get to the point where you can make a few thousand in a day EASILY. THEN you can say you came up.
I can't even say that, which is why I don't. I'm still working on it.
That whole hypothetical assumes you make a 900-1000% return though. Chances are you won't. Especially if you're holding on to multiple penny stocks. I'll assume you're also trading off fundamentals, which if you are, pretty much solidifies my viewpoint. But listen, I wish you the best. All I was really trying to do was offer advice being somewhat more experienced.
sn00pee
Supporter
- 3,638
- 784
- Joined
- Feb 2, 2003
To kicksfiend:
You seem to know what you're talkin' about, would you be able to point me to some good material to get started from? Books mostly, because I know I'll have a lot of downtime at my job. None of those get-rich-quick scheme books either, just something that will give a good insight on stocks and not too boring. Websites would be alright too i guess....
I'm also kinda lookin' for contributors/authors for the site
any feed back would be good too.
http://www.yourenotsmashing.com
You seem to know what you're talkin' about, would you be able to point me to some good material to get started from? Books mostly, because I know I'll have a lot of downtime at my job. None of those get-rich-quick scheme books either, just something that will give a good insight on stocks and not too boring. Websites would be alright too i guess....
I'm also kinda lookin' for contributors/authors for the site
http://www.yourenotsmashing.com
- 1
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- May 19, 2008
spectating for now
Majorbread
formerly 40inchboost
- 4,453
- 3,241
- Joined
- Jul 16, 2009
listen i see what your saying, but in now way did i say im making major moves on a large scale. Again, yes $4k+ isnt that much to alot of people but to ME that is a good amount.Originally Posted by kicksfiend
Originally Posted by 40inchBoost
Listen I see you in the Trading thread and I respect that. But when you dont even know what i'm in then how can you comment like that? I know my math, ya if i put 450 in a big board stock then ya gains will be minimal. However Im involved with small cap stuff, which is entirely differentOriginally Posted by kicksfiend
Sorry pal, but it isn't that simple. I'm a day trader so I know the business. I doubt your moves are that serious. If anything they may put you on the path to coming up but with only $450, you'd be lucky to made a decent return. The key to success is turning that decent return into consistent returns. No one stock is going to make you a millionaire. Even dudes staring straight at a winner manage to mess it up. Look at Warren Buffett's son. In the later BusinessWeek, he tells the story of how he sold $90,000 worth of Berkshire Hathaway stock that his pops gave him. If he had held it, he'd be sitting on 8 digits easy.
Fall back
Listen I was even trying to get at you BUT since you seem to think I was, I might as well. Ain't NO WAY you turning that $450 into figures. I trade everything INCLUDING penny stocks. I definitely know more about how they work than you do. So when I tell you there's no way your moves are that serious, I'd put money on it that it's true. What do you expect to gain off that one trade? Let's say you're right and the stock jumps 1000%, netting you a return of 4500. Add your 450 on top and you're account is valued at $4,950 minus any transaction costs. If you understand the game as much as you claim you do, you should already know that getting out at the top is impossible. I RARELY ever do it myself and I make a living off trading. Either you sell into buying, which is best case because penny stocks are usually illiquid so selling can very easily push the price downward (however since there's buying absorbing your selling, you're probably getting out before the peak), or you sell into selling which is already pushing the price down. Either way, you're not getting out at the top and your account's value falls. Let's say you sell around 900% return. So your account is valued at $4500 flat minus any commissions. You made 900% return off an extremely volatile movement. $4050 United States Dollars. Congrats...
However at the same time, there are other people making money in the market. You might feel like a boss with your 900% return but you only made $4,050 off that trade. People like me can throw 10 times that into an options strategy and generate that type of return with FAR LESS risk. Hell, on the day that you made that trade, Goldman Sachs may have put $100 million in the market and generated 1000 times that in minutes. Your moves are not serious. No matter what you want to think, you're insignificant in the grand scheme of things. I don't care if your feelings are hurt, it's the truth. Don't worry though, to some bigger fish, my moves ain't serious either.
I still stand by what I said. That $4050 isn't "coming up". However it's a good first step. The key to making more money is to leverage that one success into future success. You need to turn that money into consistent returns. You need to get to the point where you can make a few thousand in a day EASILY. THEN you can say you came up.
I can't even say that, which is why I don't. I'm still working on it.
That whole hypothetical assumes you make a 900-1000% return though. Chances are you won't. Especially if you're holding on to multiple penny stocks. I'll assume you're also trading off fundamentals, which if you are, pretty much solidifies my viewpoint. But listen, I wish you the best. All I was really trying to do was offer advice being somewhat more experienced.
The return of 900+% sounds crazy I know but PRs coming up along with financials could push it past that point. Im not in multiple pennies and I have learned first hand about the illiquidity some stocks have. Look up KATX and the run it had Nov last year, the stock im in is very similar to that. But ya wouldnt you say trading off fundamentals is the way to go for sub penny stocks? I was under the impression that charts were really a wash for these kind of stocks.
And like you said, I recognize the ability to make more money by plugging it back in. 10% on 5K is alot more than 10% on 500, but you already know that. I gotta get my acct up to day trading status somehow, and this is the only way for the time being. Im hoping to get into that Big boy trdaing thread here at NT but I aint there yet lol