Sign in to follow this  
Followers 0
feverdream

Hacking Money?

   49 members have voted

  1. 1. where do ya fit in?

    • White hat
      2
    • Black Hat
      6
    • Gray Hat
      17
    • I don't wear any fukking hats.
      20

Please sign in or register to vote in this poll.

43 posts in this topic

Is anybody else here interested in learning how to hack money by getting into investing or finance?

I have read a lot of books, but they always say to start hanging around others with the same interest, and it seems to me that technical people usually have more money to play with, and as a result have a better statistical chance of having the extra money required to get interested in playing with and investing with...

No matter what your answer, please vote in the poll.

0

Share this post


Link to post
Share on other sites

Spend it on paying down Debt (Like Credit Cards or Mortgage Princable)

cuz i'm a wuss like that.

0

Share this post


Link to post
Share on other sites

Pay off your debt, and don't buy what you cannot pay for in cash.

Then invest in some index funds in the stock market.

Put some in your savings account, buy some useful things that you need/want

Then go traveling.

Edited by gloomer
0

Share this post


Link to post
Share on other sites

Pay off Debt; more specifically, the loan on my car.

Nothing sucks up more money than interest.

The money I saved from paying my car I'd deposit into my Roth IRA.

Also, I would donate $500 to whatever/whoever I felt needed it at the time.

0

Share this post


Link to post
Share on other sites

Tax free ISA. 6% a year, every year. Sounds good to me. Then it'd be used to pay off my uni debt when I come out.

0

Share this post


Link to post
Share on other sites

Normally I'd answer differently but "something I can not live without" is my answer right now. I need a car badly. This would buy me a car. No contest, then. :D You gotta spend money to make money, but you gotta have money to spend it.

Edited by Abhayaa
0

Share this post


Link to post
Share on other sites

i would give it away.

i dont need anything right now. but someone else does.

0

Share this post


Link to post
Share on other sites
Deciding an optimal strategy of what to do depends on several factors. How much dept do you have, and what APR is it at? How much liquid cash do you have? What other sorts of investments do you have, and what is your risk tolerance? How correlated to one another are your other investments? The poll, as posted, is not possible to answer -- too much data is missing.

Exactly; That is why I asked "what would you do with $5k."

In my particular case, i'd simply place it in my investment account which is invested quarterly fairly evenly in the asset classes i invest in. Sort of boring MPT based stuff, but that's what i'd do (as I have no debt or anything).

Sounds like a good response. It also sounds like we could all learn a lot from you; Would you be willing to go in to further detail, at least enough to give somebody a general idea of what you invest in given the current market conditions?

Edit: Oh and for people who are interested, 'MPT' == 'Modern Portfolio Theory'.

Edited by feverdream
0

Share this post


Link to post
Share on other sites

I'm disappointed, I thought this thread would be about counterfeiting, not that I want to do it, I just find the security surrounding money fascinating.

But if you have Credit Card debt pay that first, thats the one thing that you can guarantee will collect interest. Other than that look into futures, you can make a lot of money off them.

0

Share this post


Link to post
Share on other sites
I'm disappointed, I thought this thread would be about counterfeiting, not that I want to do it, I just find the security surrounding money fascinating.

But if you have Credit Card debt pay that first, thats the one thing that you can guarantee will collect interest. Other than that look into futures, you can make a lot of money off them.

Semi-off-topicish: Has anyone ever scanned a dollar bill into photoshop? I had to for a school project once. It detected it, warned me via prompt, and wouldn't let me save it until substantial changes were made.

0

Share this post


Link to post
Share on other sites

It would depend on ones situation. For instance if you have debt then paying that off should be your first priority. As for investing, $5,000 isn't really anything you can do much with.

0

Share this post


Link to post
Share on other sites
As for investing, $5,000 isn't really anything you can do much with.

I disagree. You can do tons with it.

My whole office doesn't even have 5 grand worth of stuff in it.

You could fly to another country.

What would I do with it? Half goes in bank for misc things. Other half goes toward utility bills, food, that's about it.

feverdream, I've posted some articles on my forums over at onlinemoneyguide.net you might be interested in.

0

Share this post


Link to post
Share on other sites

I voted spend it on something that I cannot live without

I would spend it on books and computer hardware and software.

Particularly I would buy my family a computer or two (No more than 970$ for each computer), then proceed to put the rest into a CD.

0

Share this post


Link to post
Share on other sites
As for investing, $5,000 isn't really anything you can do much with.

I disagree. You can do tons with it.

My whole office doesn't even have 5 grand worth of stuff in it.

You could fly to another country.

What would I do with it? Half goes in bank for misc things. Other half goes toward utility bills, food, that's about it.

feverdream, I've posted some articles on my forums over at onlinemoneyguide.net you might be interested in.

The website doesn't seem to have much except that one particular board, HYIP & Investment Talk. I like that board.

0

Share this post


Link to post
Share on other sites
The website doesn't seem to have much except that one particular board, HYIP & Investment Talk. I like that board.

Exactly why I try and con people into joining.

:pirate:

0

Share this post


Link to post
Share on other sites

Spend it paying bills.

Thats the best because if you use it for anything else then the intrest will go up :blowfuse:

0

Share this post


Link to post
Share on other sites
Other. (Please describe.)

Hookers. Blow.

No, really, I would use it to pay off some bills, maybe use it to pay for a cert I'm working on. If it were more, I would just go ahead and use it to fund post-grad education. The *real* investment in your future is an investment in yourself. That's what my grandad taught me.

Then, if there's anything left over... Hookers. Blow.

0

Share this post


Link to post
Share on other sites

Who voted for the FX account? I know a guy who does that full time, works a few hours a night working the JPN/GBP cross pair and spends the rest of it doing whatever he wants.. So I'm trying to learn what I can from him using a demo account to get started at 1:100.

I'm sort of lost on what to do next. Thats why I asked.

0

Share this post


Link to post
Share on other sites

The best thing i could do with 5000 bucks is to invest it in a small business. Lately i have been thinking of starting a small pizza slice place here in vancouver BC. A 500 square feet place by a mayor bus loop will only cost me about $1200 plus hydro and i can sell slices for 2 buck so i will need to sell 600 slices monthly to break even.

This are going to be my expenses roughly:

$1200-->rent

$3000-->oven, furniture etc

$400-->frozen pizza's for the first 2 weeks :)

$400-->hydro, other expenses etc.

0

Share this post


Link to post
Share on other sites
Pay off your debt, and don't buy what you cannot pay for in cash.

Then invest in some index funds in the stock market.

Put some in your savings account, buy some useful things that you need/want

Then go traveling.

Biggest secret disclosed right there!

0

Share this post


Link to post
Share on other sites

I put other.

With 5,000, I would look for some local foreclosures in the area (not a ghetto mind you), and buy one. (and yes, you can buy foreclosures for 5K sometimes if you offer cash, and not in a place where you will probably be shot), fix it up (by mowing the lawn, paying some people to repaint it, and fixing the major stuff), then hire out a property management company to rent it back out. They charge 10,15,20% whatever of the rent to do so, but then you don't have to mess with it, they send you your check, and if something major has to be done, they send you a bill. Well worth it for people working a full time job who don't want to take on being a landlord.

An extra $600 a month for doing nothing can be quite nice. Then you save all that and do it over again. Or you just live in the house and save money not paying the rent each month.

Stock market is great and all, but personally I'd rather just invest in something that is guaranteed to not only yield immediate monthly returns, but also appreciate in value as time goes on, as houses usually do.

0

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0