Happy New Month!
Last month’s goal was fun and fulfilling. I made several small improvements, most of which would be boring to you – things like how I organized my tools, how I took notes, how I scheduled my day. But it was fun thinking about those things which had been defaults for so long, and the end result is definitely an improvement.
This month I have an interesting challenge, a little game I’m going to play. I’m taking $500 and putting it into a special account, and my goal is to see how much money I can turn it into by the end of the month. My goal is at least $1,000. Here are the rules though:
- I can’t add more money to the account from my regular income sources. It would be cheating to just treat this like a savings account and call it a day.
- I can’t directly sell labor time for this project. For instance, I can buy a table, paint it, and resell it for more – that’s okay, because the thing I’m selling to the end customer is the table, not my “painting services” or whatnot. I won’t, for example, paint someone’s deck for a fee.
- Hiring other people is allowed, though. So I can’t mow a lawn for money, but I can take a lawn-mowing contract for $120, hire someone else to do it for $80, and put the remaining $40 in the account. That’s fair.
- If I need any specialized tools, equipment, expenses, etc. as a result of whatever I come up with, they have to come from the initial $500. No outside bolstering once the game is started. That includes even things like gas & tolls, too!
So that’s it. For the purpose of this game, I essentially only have $500 to my name, and I can’t sell my labor time directly (I *do* still have a full-time job, so even if I wanted to sell time I don’t exactly have an abundance to sell).
This idea came about because my oldest daughter has been negotiating her rates with me for her allowance, and we got on the subject of what she might buy with the money. She had some great ideas, but also asked for suggestions. I told her the best thing you can buy with money is more money – buy things you can resell.
She absolutely ate this advice up, so I’m going to include her in the game. I’ll cut her in on the profits, too!