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Library of Ideas

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Crucible of Experience

stairway to a fortune
Stairway to a Fortune

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Treasury of Tales

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Vault of Old Videos

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Portfolio of Motivation

Table of Negotiation
Table of Negotiation


Additional articles:

Get Rich After Retirement

Never Break the Copper Rule!

Barter Page

Step Twenty Four to a Fortune:

Aluminum cans spelling cash

 

Experiment Title

Cash in Cans

Vision

I keep saving cans and I keep making more money.

I don't bother so much with walking the streets looking for cans anymore, but I do pick them up as I find them (like I always pick up money).  I also save them as I use them.  When I have so many bags full my wife complains and I take them to market.

 

Objective

Step 24 from the overview projects an investment of up to $7.39 for a sale of $8.13 or more.  "If you don't do something about those cans, I'm going to throw them out myself," says my wife.  In these early days she didn't always have much faith in small steps, but once we were rich she couldn't help but believe in them.

From $193.29 in reserve capital, I can invest up to $7.39 in expectation of growing that to $8.13 or greater.  That should yield a net profit of $0.74 or more.  Picking up cans is a task that anyone can do.  I know people who lost great jobs are having trouble finding suitable employment and picking up cans would humiliate them, but so what if a little humiliation would make them rich?  doesn't have, but anyone can learn. The professional equipment that Debbi and I have makes it easier, but an inexpensive miter saw and a cheap framing clamp is all that is really necessary.

Step 24

Starting capital                                    $193.29

Planned investment     risk                      $7.39

Investment receipt goal                           $8.13

 

Hypothesis

If you've made money on something once, making money on a similiar thing should be more than possible.

 

Procedure

 

Pick up aluminum cans that other people discard, and save the cans you use yourself.

 

I took these cans into my favorite scrap dealer and he weighed them out.  He said he owed me $11.93.  He handed me 12 dollars.  When I tried to make change, he said not to worry about it.  Isn't that funny?  A scrap dealer that is unconcerned with copper! 

 

Results

I sold this batch of cans for $12

I had about a dollar in gas expenses (I live very close to the dealer).  My gross profit before tax was $11.00

 

sale price                                                                  $12.00

Actual investment  and expense                                   $1.00

 

Gross Profit or loss  this deal                                     

was $11.00

 

Ending gross capital  (before deductions)            $204.29

 

Questions

How long will I keep doing these little deals? Making money is a habit.  After I establish the habit of making money, why would I want to stop.

What did I learn from this deal? I learned that little by little, little deals add up!

 

Conclusion or Final Result

I know there is profitable work available to everyone, but they have to see how pennies become dollars, and dollars become fortunes.

I started with $193.29 in capital. I was looking to risk $7.39 in hopes of growing it to $8.11. After the sale before tax and charitable deductions I had  $204.29.

35% tax on profit of $11.00 would be $3.85.  That leaves $7.15

As a good person we pay 10% or $.72 for a worthy cause

leaving $199.72 for investment and surplus to cover bad deals.

 

 

Next Step 25