When does a liability become a profit?
January 30, 2010 11:48am CST
If you have decided that something may be worth investing in (it doesn't matter how much or what you are investing ... it may be dollars or it may be time), when do you decide that the investment is worthwhile and when do you decide that you should cut your losses and move on? This is not just for people investing real money. Time is money, so if you have invested time in a site and it doesn't pay or doesn't meet your expectations, consider that you might have something to contribute to the discussion. How do you define your 'cut off' point - when, whatever you are doing, you decide that you have put enough time or money into a project is going nowhere and that it's time to quit?
2 people like this
30 Jan 10
wow, owlwings this is a great discussion . Well, I think it depends on the earning program and also the individual. If I think I must get at least 5$ per hour, I can find out whether the site is worth my time. Yes, time is money. In some cases it may take its time to give high returns, in that case I would be willing to invest my time now. There are some sites that I pass on to my friends who find them worth whereas I concentrate on some other sites that suit my talents. So it depends on individual too, is it not? When you cross the break even point the liability becomes a profit.
30 Jan 10
5 x 8 hrs = 40, 40 x 30 days = 1200 dollars per month - take out four Sundays (hopefully you do spare some time for your wife and children - and that's an order lol) 40 x 4 = 160 = monthly you are looking at 1040 dollars! Am I right vijayanths? Or are you looking at it only in spare time? 1040 x 45 = Rs.46,800. That is great money vijayanths if you are able to earn that much! Congratulations. :)
12 Oct 15
I never experienced a site that does not pay me. I am very conservative, and my rule is never tried out a new site, until enough people have gotten paid. The same rule applies to stock market. I do not buy IPO. I buy great companies when the share price is low.
30 Jan 10
Hi owlwings, I am a bit oldfashioned. :) I first prepare my budget for the month based on my expenses for the previous three months. I add some provisions such as medical, repairs, etc. I then inflate the figures at 10 percent inflation (yes that rate) and prepare projections for the next 40 years. I am 50, and I dont think I will survive beyond 90 lol. Now, I pick all my sources of income and line them up against expenses of each year. :) I know when I am in loss, and when I am making some profits. I then start working to cover the deficits. It doesnt matter how much it is. :) All that I need is to cover the deficit. :) My target for the month is 10000 INR - i.e., about 225 dollars may be? I am ok with that much. :)
30 Jan 10
Sorry. I didn't answer your question properly, but I am so annoyed at the moment by that odious creature. I suppose that the answer is when it is obvious that any further investment is simply good money after bad (money being a metaphor for whatever the input is). I'd sooner cut my losses and be gone.
31 Jan 10
Fantastic Discussion.!!! Kudos Owlwings. It is my observation and research too that when you are investing(Time as well as money) on yourself - When i mean investing it means honing skill minus entertainment minus generic expenditures. When i invest time in honing my skillset say i want to learn a new softskill then i devote time and money on that. the liability is surely to convert into profit one day. One may say well err. not all softskills pay!. Certainly the case is. If you want to profit then the application is also necessary and application is subjective i.e. it depends on individuals.