bmwrd0
Well-known member
Cody, I too give myself a budget for wandering around money and don't go over it, ever. I also have a deal with the wife that if either of us wants to spend over a certian amount on something ($100) we talkt to the other person. That way we aren't hiding anything from the other. And like Jake says, have a hard savings acount. I feed that before anything else in the month, including my sons college costs. You have to think through it and like Jake says, make sure that you really want something, or KNOW you can make money off of it.
Jake, if you are going the flipping route, something I have learned from doing it with books is the rule of 3. What ever you pay for something, you need to be able to sell it for 3X that amount, to cover your time, trans, handling and storage. It really helps make decisions when you use a rule like that. I also don't try to hold out for the last buck, as long as I can make that 3 I am good.
Good finds everyone, I will post up here in a bit.
Jake, if you are going the flipping route, something I have learned from doing it with books is the rule of 3. What ever you pay for something, you need to be able to sell it for 3X that amount, to cover your time, trans, handling and storage. It really helps make decisions when you use a rule like that. I also don't try to hold out for the last buck, as long as I can make that 3 I am good.
Good finds everyone, I will post up here in a bit.



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