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Things to Buy That Make You Money
These items worth investing in may not directly make you a profit but they are certainly worth it. What if there was a way for you to buy something and it’s something you may actually need, and you would end up making you money off it indirectly?
It’s almost counter intuitive but there are things that we can buy they can end up making us more money or saving us money and putting us in a better financial position.
So in this article I’ve come out with 7 different items that are worth investing in (if you don’t have one already) that in most cases will end up making you money over the long run. We know the obvious ones like by rental properties or buying stocks. Those are pretty obvious but that’s not we’re discussing in this article.
What I’m talking about is something different that we don’t discuss very often but can end up putting you in a better financial position.
7 Items Worth Investing In for Indirect Profit
1. Security Cameras
The first of the these items is security cameras. Now having security cameras for your home or your apartment can be pretty beneficial. It could be $20 or $30 that you pay for but it can end up saving you a lot of headache.
When somebody robs your house at some point in the future, you can see who it was. This is will help you get all your stuff back. Not only that but also can help the police arrest the person which will make your community safer.
So it’s gonna be an investment that I think is worth it for most people. It also gives you a little bit more peace of mind.
Even more important than a security camera that I would argue is a dash camera. It’s going to save you so much headache. A lot of car owners don’t think about having a dash cam installed in their car but these days it’s very important to have not just for evidence for the police but to save you money. How so? Let me explain.
A friend of mine rolled up at the stop sign and this guy comes running out, flops on top of the windshield and then topples onto the the pavement. It was never her fault. An argument ensues and end of the it all the dash cam she had installed saves the day for her.
She could have simply ended up just driving away which then that would’ve been worse because then that’s called a hit-and-run and then you end up in a lot of trouble.
They end up hitting you with a fat juicy lawsuit and you lose a lot of money all because you didn’t have a dash camera to prove that this person jumped on top of your car to try to include claim some type of insurance. This is called insurance fraud but you need to protect yourself first.
It’s a little investment that you make and it’s going to save you so much trouble especially if you get in car accidents or if there’s insurance fraud of any type or if somebody just keys your car. You’re gonna be able to see who it was that person because I have my dash camera right there and it’s going to be really nice.
2. Solar Panels
The third of the items worth investing in are solar panels. Now there’s gonna be three primary factors that will help you decide whether this is going to be a good investment or if it’s just gonna be a terrible decision.
If you live in predominantly sunny state then investing in solar panel will be a great investment. Yes, if you live in California, and you can also get tax credits. Or in a state like Hawaii where the average cost of energy is well over 32 cents per kilowatt hour it could make a lot more sense.
If you in Seattle or in Pittsburgh or Buffalo New York where it’s cloudy more often than it is sunny probably doesn’t make very much sense there. Or it probably also doesn’t make sense in place like Oklahoma where the cost of energy is like eight cents per kilowatt hour.
So factoring those three things: how much sun do you get? Do you have a roof in the first place? And also how much does energy cost in your area? So factor all those in also including the tax benefits and see whether or not solar panels are items worth investing in for later profit.
Now the one thing I really like about solar panels is self sufficiency sort of idea behind it and the eco-friendliness. This means that if we have another energy crisis like the 1970s again and suddenly we have all these problems with securing fossil fuels for some reason.
Also if somebody cuts us off and and suddenly the price of oil and the price of energy goes up drastically then you might just you know I got my electricity over here with my solar panels.
This investment item, bitcoin and other cryptocurrencies, tends to get a bit of a bad rap from a number of people and for good reasons because there are some pretty skinny scummy things going on in this industry. However, I’ve sort of come around on this a little bit.
I don’t dump all of my money into cryptocurrency but I do own some bitcoin and a couple of different currencies. It’s still pretty risky but if you just look at the average price of bitcoin compared to say in the stock market in just 2020 you can see that it has far outperformed the stock market, especially when we have turbulent economic times like we do at the moment in the pandemic.
Having some bitcoin does help alleviate some levels of stress that I have about the current society that we live in and the current money system.
So to buy cryptocurrencies, you could just go to coinbase.com which I would argue is the most reputable place to buy or sell cryptocurrency.
So bottom line: Put a small percentage of your assets into something like cryptocurrency which can help sort of diversify some of your assets. But be aware that a lot of risk is involved.
4. Tools and Equipment
Another item worth investing in is having a toolbox. Buying tools and equipment in general is one of the things worth spending money on because it will save you money.
It’s hard to understand how some people don’t know the difference between a hammer and a screwdriver. Seriously. I’m not being funny but if you want to save some money and you want to get a better financial position, then just consider becoming a little bit more handy with the things around your house.
There are some things only professionals can fix, I get that. But if your dishwasher breaks maybe learn how to fix it. At least give it a shot. If your car breaks down maybe try to learn how to fix it or at least take a couple of steps to learn how to fix it.
Instead of taking it to the mechanic or instantly just calling the plumber because you have a leaky pipe, having a toolbox will help you tighten the leaky pipe. Save money and don’t end up spending like $200 to get the plumber out there.
There are a lot of things that people just do that it’s it’s a big waste of money. So become a little bit more handy. Learn some things. If you’re in school or live alone get a toolbox.
It will probably cost you not more than $100 but save you a ton of money. Money that you would have otherwise spent by having to call people to fix stuff all the time.
5. Having a Journal
The next of the items worth investing in is a journal. I know it may sound weird. I mean how can having a journal save you money? Let me explain.
A journal costs like $20 or something like that. Every year you get a new one. I know it’s just some paper but so many people don’t write anything down anymore these days especially.
I find that writing things down, dumping my thoughts, my my ideas on paper has helped me tremendously. If you’re looking to make more money, write down business idea and talk about your finances.
Start to really really dump some different ideas and your thoughts down on paper and then you can look back on it over time. Maybe you wrote a great idea in your journal. There are times when your current ideas may be going off into the wrong path.
You start to you know prioritize things in life that you should not be prioritizing. You can also go back to your journal entry and get back on track. Journaling is so crucial especially if you’re an entrepreneur trying to create your dream life.
6. Buy a Fan or Portable Air Conditioner
The next on our list of items worth investing in may not be for everyone, but there are some people out there that I think could actually benefit from this financially. We’re talking about buying a fan. Buying a fan from say Walmart for under $50.
Use that instead of cooling your entire house with an air conditioner with a central cooling system that might cost you about $250 per month to cool a 1200 square foot house. Cooling a house with air conditioning can actually be really really expensive.
It takes up a lot of energy and it’s not environmentally friendly. But again it all depends on where you live. Even if you live in warmer states or places like Philadelphia it gets to about 89 degrees as a high in July which is pretty hot and humid. But even with that you can still benefit immensely from using a fan of a central air conditioning.
If you still want to enjoy some cooler temperatures, you still have the option of buying a portable air conditioner. You can pick one up from Amazon for around $50 and that will save you lots in electricity bills.
7. Buying Artwork
Again this is one of those items worth investing in that may also not apply for everyone. Buying artwork in my opinion could be one of the collectibles to invest in that appreciates in value with time. So it’s not a quick investment vehicle.
Artwork in some cases can retain its value very very well in long-term. Now I’m not talking your tenth grade artwork or anything like that. You may get a Picasso painting in your bathroom that you look at every time you use your bathroom. They may be worth a lot of money.
Some artwork really appreciates in value a lot quicker sometimes even faster than company stocks in the course of many decades. It really depends on the artist and honestly you’re probably going to already have to have a sizable amount of money to pick artwork as future investments.
Or you just know that someone who is truly up-and-coming as an artist and that they’re gonna make it really big. Obviously there’s a lot risk in this one so you have to be selective on what you choose.
So these are some of the items worth investing in for immediate or future profit. Obviously for most of these the profits or savings don’t come in directly but at the end of the day they help you keep the money in your pocket where it needs to be…. in your pocket. Or savings account.
What are some of the other items you have bought in the past that have ended up saving you money or even making you a profit? Share with our readers in the comments section below.