This idea came from a conversation with Royal Pinguo. We were arguing over who manages money better between the two of us. We decided to put our money management skills to the test in a contest that I will call "
If I had five hundred dollars..." Roughly based on a song by the
Barenaked Ladies, the concept is simple:
Set aside $500, and make it grow as much as possible in a year. I thought this might be a fun exercise for other people, so I'm inviting whoever is reading this blog to play along. You never know where this will end up, if you stumble across a good idea. Here are the rules are:
- Keep track of your revenue AND expenses for the $500. You can re-use any profit you make.
- It has to be legal. (Don't start a meth lab or start selling drugs to school children!)
- You can't retro-actively include things into your plan, if they weren't intended to be.
- You can't hide unprofitable things that were part of your plan.
- This is not about hypothetical situations. You must actually use your money to implement your plans.
- Start date: May 1st, 2008. End date: May 1st, 2009.
That's basically it. It begins in a few weeks, so you have some time to figure out your plan. I'll post updates on how I'm doing throughout the year. If you have a creative idea, then please share it with us. I thought about blowing it all on scratch tickets, roulette and Tim Horton coffee cups...
This idea came from a conversation with Royal Pinguo. We were arguing over who manages money better between the two of us. We decided to put our money management skills to the test in a contest that I will call "If I had five hundred dollars..." Roughly based on a song by the Barenaked Ladies, the concept is simple: Set aside $500, and make it grow as much as possible in a year. I thought this might be a fun exercise for other people, so I'm inviting whoever is reading this blog to play along. You never know where this will end up, if you stumble across a good idea. Here are the rules are:
No comments:
Post a Comment