One of my biggest pet pevs is when I hear someone say "I can't afford to trade because I have no money." When I hear someone say something along those lines I know that they'll never be successful because they've already decided that they won't be.
If someone wants something bad enough, they'll do whatever it takes to get fit it. As a high school lacrosse coach, try to instill the mindset in my players that no one wants it more than us. At the beginning of each season I tell the team that in life as well as in the game of lacrosse, it always boils down to "who wants it more" and if you can adapt that mindset, you will be a winner. If you want it more, it means you're willing to work harder, study more, and put in the extra time and energy to get what you want.
several years ago I remember seeing an inspirational poster that had a lion and a gazelle on it and it said, every morning a gazelle wakes up knowing it has to run faster than the fastest lion or else it'll be eaten. And every day a lion wakes up knowing it has to run faster than the slowest gazelle or else it will starve to death. So when the sun comes up you better start running! I always loved that poster because it's so true to being successful. So many people want to be successful, but hardly any one wants to do the work.
I feel like that's why so many people "don't have the money" to trade, they're not willing to run when the sun comes up, they just want to be lazy more than they want to be a millionaire. So if you have the want, then I have some things you can do to fund your small account. Let me know how they work for you!
1) Have a garage sale. Yes, this is probably a no brainer but if you need to raise some money quickly, a garage sale is a great way to do it. Simply go around they house and gather all those things you never use or probably won't use again and have a sale. You'd be surprised how much stuff you have around the house that you could sell and never miss. My wife and I do this every year just because. Most years we make at least $500-$1,000 in a weekend, and that's a great start for your trading account.
2) Budget! Set up a new bank account at a bank that you don't normally use and set up an automatic transfer from your primary account to the new account. You could start with just $10-$20 a week and by the end of a year you'd have $520-$1,040. If that's not fast enough or enough money then just add more. Trust me once you start doing this you won't even miss the money, the key is to just forget about that account until you're ready to fund your trading account. I did $50 a week for a year before I opened my first trading account, if I can do it so can you!
3) Do some side jobs. Whether it's mowing a few houses in your neighborhood or picking up dog poop. There are all kinds of side jobs that you can do to make some pretty good money in a short period of time. Remember if you want something bad enough you do what it takes to get it!
4) Stop buying things you don't need and put that money in an account, just make sure to actually do it. We can save a ton of money just by breaking a few little habits like getting a soda/pop or candy bar at the gas station. You go to gas stations for gas and nothing else. Now that you can pay at the pump, you shouldn't need to go inside for anything else other than maybe using the restroom. First off, when you buy at a gas station the items are way over priced because you're paying for the "convenience." A gatoraid at a gas station by me cost around $1.80 but at the grocery store just around the corner it only cost .80. Little things like that add up really fast. How much do you spend on coffee or whatnot in the morning on your way to work? It all adds up!
5) Recycle. A lot of places now a days will pay you to recycle. If you live in a state the has a deposit on pop cans, stop and pick them up along the roadway. If you have a truck, find out when your neighborhoods have trash night and drive around and pick up scrap metal. Sell any old jewelry but don't just take it to a pawn shop. I get about $200 a truck load for scrap metal. im not saying these are the most glamorous ways to make some money, but if you want it bad enough you'll do whatever it takes right? If you want to live like no one else tomorrow, you have to live like no one else today!
6) Cut the fat! So many of us now a days feel like we always need to have the latest and greatest, but do we really? i suggest getting rid of cable, netflix, or any other subscription based program. It seems like there is a monthly subscription for just about anything these days and we really don't need most of it. How long would it take you to save $1,000 if you didn't have a cable bill? Besides if you're trying to become a millionaire trading stocks, then all these other things will be distractions for you while you should be studying @timothysykes system and dvds.
7) Buy and sell things! You can use apps and websites like Craigslist, 5miles, Poshmark, letgo, eBay...the list goes on. A lot of these have "free" stuff that people are just willing to give away to anyone for free. You can take these and resell them. You can also go to yard/garage sales and buy things to sell for a profit. I went to an estate sale and picked up a bunch of stuff for $750 that I resold for over $5,000. This takes more time and you have to be willing to work a little harder but if you want it bad enough, right?
8) I know I said 7 but here's one more, I wasn't going to mention it but you can be apart of clinical trials and get compensated rather well. There is risk here as the medical companies are literally using you as a human Gianni pig but you can also make a $1,000 or more real quick. The same goes for selling plasma or bone marrow, if you're a woman you could get $5,000 plus for selling your eggs. Again I don't recommend doing this and I've never done it before.
so there you have it, 8 things you can do to fund your small trading account. Remember, while you're doing this and funding your account, study as much as possible so when your account is funded you'll be able to hit the ground running.
Thanks for reading and best of luck to you on your journey to financial freedom! If you liked this blog post please share and leave a comment below. What are some things that you do to save money or fund your trading account?
Thanks for the kind words s32wilki I have a Facebook page that I put inspirational and motivational stuff in, if you'd like to check it out let me know and I'll tell you what it is. Have a great day!
sure ill check it out :-)
Cool, it's just called unlimited life academy
When it comes to funding your small trading account, there are several options you can consider. If you have some savings set aside, you can allocate a portion of that money to fund your trading account. This allows you to use your own funds without incurring any debt or interest and also visit https://copycollege.org/ site for quality work. it is equally essential to develop a solid trading plan, acquire sufficient knowledge and skills, and practice risk management techniques to increase your c
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