By Sidney Perez.
In a tough economy, every consumer tries to make money as he can.
Here are 3 tips to make money easily.
I/ Buy tax liens and deeds
Tax liens as mentionned in chapter 7 in our text book are property tax + interests due when you pay your tax late. Interests can vary from 8% to 25%. If people pay their tax, you get back your money plus the interests, if not you can get the house owned a way below market prices ( especially in California where liens are called deeds) so that you can use this interesting investment to rent the house or live in it at an unbeatable price. In the context of economic crisis, there are more and more liens in sales, so there is an opportunity to buy some and make money.
II/Buy foreign currency CD's
The dollar is affected by the crisis and if you want to make money, you can open a foreign currency CD in euro or yen for example. So, if the dollar decreases, you win. You can go to everybank.com for example to do that.
III/Manage your liquidity strategically
Do not keep too much money in your checking account but only what you need for your usual expenses plus an extra 1,000 dollars for interesting opportunities.
By saving your money in a CD's you get interests and in the future it can represents huge amounts of money (FV= (1+i)^n *PV)...
Sources :
1)http://www.buytaxlienhome.com/
3)Fast Profit in Hard Times by Jordan. E. Goodman
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