How Do I Make Money? A Beginner’s Guide

Even if you have a degree in your chosen field you probably didn’t learn how to make money or build wealth in school. Since we use money for nearly everything we do that seems like a pretty serious gap in our education system. Money or the lack of it in our lives will affect us more than anyone else so it is really up to us to get the “how to” information on this. Without that information it is like trying to compete in sports without knowing the rules of the game or having the proper equipment. If you are missing out on the “game” please allow me the pleasure of getting you up to speed.

Money is made by exchange. I am not talking about the printing of money or the minting of coins, but the gaining of money here, which is what really matters in our financial lives. We gain or obtain money by making exchanges. At the simplest level when two people come together and one has money and the other one has something or some service the first person wants we have the potential for such an exchange. The next step is a little communicating, you can’t exchange things if people don’t know they exist and you are willing to trade. Then we have negotiating. You have to agree on the amount of money to exchange for possession of the goods or to receive the service. We can also have terms, such as a guarantee or setting a time for delivery of the goods or service. There you have it, someone made money.

Let’s go over that again. You have something you want to exchange. That thing could be something material: a knife, a boat, a plate or a car, but it could also be some service: cooking your meals, cleaning your house, playing music or painting your house. Material things we often call goods and things you do we call services, but don’t let that confuse you, if you have services you offer, then those are your goods. Let’s keep it simple.

Next we have to communicate we have something to exchange, we have to make an offer. This happens all the time and we are pretty much flooded with offers in the forms of commercials. An offer can be an advertisement in the classified ad section of the newspaper or a radio or television commercial, but it can also be a sign in your yard that your house is for sale or just mentioning in a casual conversation you have something you want to sell.

If the person is interested we then begin negotiations. Negotiations can be as simple and present as asking how much the person in front of you will take for the item or the seller saying what they want, but online auctions and estate auctions are forms of negotiations too.

So now we come to the question, “If money is made by exchange then what can I exchange for money?” We could answer that with individual items and soon become overwhelmed. Cars, boats, hamburgers, radios, jewelry, pickles, socks and shoe strings are just some of the countless items we could exchange, but thinking of it in this way can quickly overwhelm us. There is another way to look at it. I divide it up into six categories when I teach this.

The six categories I use when I teach this are:

1. What you can do

2. What you have on hand

3. What you can get

4. What you know

5. A lie

6. A promise

Can you flip a hamburger? Can you drive a car? Can you paint a house? Those are some things you can do for money.

Do you have an extra car in the drive way? Furniture you want to replace? Some old jewelry you don’t wear? These are things on hand you could exchange for money.

Could you get water bottles and take them to the park? Could you buy a box of sunglasses to sell on a corner? Could you buy hotdogs and buns to sell in your food cart? These are things you can get to sell for money.

Can you teach a child how to tie their shoes? Can you explain to someone the best way to change their car battery? Can you tell someone the stock category is most likely to go up this year? These are things you know and can exchange for money.

Can you tell someone if they will pay you now you will bring them something you don’t have and can’t get? Can you borrow something you say you will return and then pawn it? These things are lying for money and we call it fraud.

Can you sell someone the promise that you won’t sell your home to anyone else for three months while they raise the money to buy it? Can you promise you will pay someone back and borrow money through what we call a promissory note? There are just some of the things you can promise to do or not do and exchange that promise for money.

There you have it, the basics on making money. Money is made by exchange, you can think of it as trading for money. Selling has so many bad ideas and feelings attached to it I often tell people to just think of this as trading for money. You can also think of the things you exchange as countless items or services, but it is more manageable and helpful to think of this in categories. It doesn’t matter if it is in the back yard, a car dealership or online, this is how it is done.

If you would like to learn more about making money and building wealth I am pleased to offer you my new eBook, “Empty Pockets” as a free resource. It is a book covering the reasons most people are not wealthy and how to fix them.

Easy Tips To Improve Your Stock Trading Profitability

As a trader you need to understand why it is that you enter a particular position, what is your own specific reason for position entry, the answer can’t be “It looks like it’s going up”. You can’t put down money based on a gut feeling; you have to be motivated by a technical reason found in the chart that you are observing. Another factor that will influence your trading is volume. The average daily volume of a stock that you choose to trade should be at minimum 1M shares. Be very cautious when risking your equity, make sure you have spent sufficient time paper trading, otherwise you will pay a lot of money in market tuition… and that can be quite costly.

Something else that will have to be considered is your personal workstation. Keep your work area clean, and uncluttered. A messy desktop will not allow you to think clearly, and will prove to be distracting. You will need a good monitor setup (2-3 monitors minimum) so that you have ample real estate to view charts, level 2, etc. You will also require high-speed Internet connection and a good direct access broker. This is a serious profession based on mathematics and market psychology, so act professional. If you trade with a budget day trading casino mentality, you will quickly gamble away your entire account.

A Few Words About Charts

It took me a few months of experimenting to find my personal g-spot for my own personal chart setup. I’m going to offer up some tips on how you can best manage your own charting.

Keep it simple, and uncluttered. Have only the essential information displayed because you will spend a lot of time just waiting for a healthy setup to present itself. If you have a complex window to look at with a lot of flashing colours and numbers, you will only get eyestrain.

To reiterate on the first point, don’t have too many technical indicators on your charts, especially indicators that conflict signals.

Have at least one broad market chart and one sector chart, are they making new highs today compared to yesterday? It is important to gauge the market relative to the previous trading day’s range.

Have a time and sales window for your stock, is there a buy or sell pressure?

When reading your Level 2 window use it primarily for order routing only. You can’t always base a trading decision on what information you see there, because there is a lot of bluffing and intentional manipulation that happens in Level 2. You need to focus on the big picture of the market first and foremost, is it a red or green day? Is it a volatile day or is it very choppy with deadly whipsaw like activity? After you have performed this initial diagnosis, then you can use the individual chart patterns to identify a profitable entry and exit point. A common beginner mistake is just jumping in and out whenever and where ever-an entry and exit point must be determined BEFORE you place the trade.

Read this book to learn more strategies that can significantly improve your trading profitability.

Ashbee A. Bakht is an international best-selling author who holds a degree in psychology from Brock University, Canada and he attained his postgraduate education in minerals and mining at the prestigious Norman B. Keevil Institute of Mining Engineering, at the University of British Columbia, Canada. As a professional commodities trader and arbitrage specialist, Ashbee’s strength can be found in taking positions based on economic forecasts of trends and seeking out arbitrage opportunities. Ashbee specializes in trading crude oil, gold, silver, and other base metals.

Benefits of an Early Warning System in Higher Education

Student Attrition in Colleges and Universities:

Probably the most serious problem colleges and universities face these days is how to retain their students. The fact alone that fewer and fewer students enroll each year already makes it a considerable feat for administrators to run their schools effectively.

Retained are those who enroll each semester until they graduate. They are the full-time students who obtain their degrees without academic delays. On the other hand, there are Dropouts who enter a university and leave without finishing their course. And then there are transfers who enter school, leave it midway through their course and enroll in another school with the intention of graduating in that new school.

Reasons behind Student Attrition:

• Academic Under preparedness: Attrition stemming from students being inadequately prepared to accommodate the academic demands of college and meet minimal academic standards.

• Academic Disinterest: Attrition triggered by lack of student interest in, or enthusiasm for, the type of academic learning experience that characterizes college coursework (the process of course delivery and / or the content of courses).

• Low Initial Commitment: Attrition resulting from weak initial intent of the student to stay at, and graduate from, the particular college he/she is attending.

• Isolation: Attrition caused by an absence of personal and meaningful social contact with other members of the college community, resulting in feelings of separation and marginalization.

• Incompatibility: Attrition attributable to poor institutional or departmental fit which stems from a mismatch between the student’s expectations, interests, or values and those of the prevailing community.

• Inability to afford college.

Student Retention Strategies:

• Early identification and recruitment of academically gifted students for honors programs and peer tutoring.

• Deployment of Early Warning System.

• Faculty & Curriculum development.

• Showcasing alumni success stories, on-campus employment, on-campus living.

• Promoting Student-Faculty and Student-Student (Peer) Interactions.

• Adopting student recruitment and admissions practices that promote better student-college fit.

• Financial-aid packaging, Money management counseling.

Technology in identifying Student at-risk:

Identifying at-risk students can be a difficult task. Since the typical class size per tutor continues to grow, it is hard for them to truly “know” their students. Also, many legal issues and battles limit the tutors from knowing their students at a personal level.

New technologies can provide meaningful learning experiences for all students, especially those at-risk of educational failure. Now, with the introduction of the Early Warning System, the tutor can set up rules to flag students’ performance, attendance, and other key course events that are required for student success and the counselors can implement effective intervention strategies.

Early Warning System:

An Early Warning System enables colleges and universities to identify at-risk students early enough to provide effective interventions and resources, minimizing student attrition. The Early Warning System has a proprietary statistical algorithm for analysis of historical student data to identify single and composite factors that are indicators of risk. Educational Institutes can create personalized intervention strategies and success coaching workflows to ensure that at-risk students receive effective support. The Early Warning Systems empowers Higher Education Institutes to efficiently provide needed support to at-risk students and maximize student success.

Benefits of Early Warning System in Higher Education:

• An Early Warning System helps instructors recognize when a performance problem is emerging or becoming more serious.

• Instructors create rules that determine when the Early Warning System generates a warning for a student’s performance.

• Rules are created by instructors and can be based on a test score, calculated column, due date, or course access.

• Instructors use this rule-driven communication tool to send email messages to students and their Observers when Early Warning System rule criteria are met.

• The instructor can communicate a warning in an email message to the student only, to a parent or advisor that is assigned as an Observer, or both.

• The Notification History creates a record for each Early Warning message sent.

Higher Education Enrollment Management Software

Student Admissions Software for Colleges

Higher Education CRM for Recruiting Students

Kristopher Krost is a enthusiast and an education blogger, CRM Consultant for colleges and universities. He writes for ProRetention