Become a Money Magnet

How to Attract Money and Survive a Recession

If you Google "attracting wealth," you’ll get back no less than 12 million hits. Unfortunately, about 90 percent of those results claim knowledge of the secret to attracting wealth and the willingness to reveal it to you…for a small fee. Of course, one can’t dismiss them all as snake oil salesmen, but being a magnet for money and surviving a recession often comes down to a combo of proven techniques and some good old-fashioned common sense.

Laws of Attraction. This is a blend of visualization, faith and positive thinking. Negativity actually repels what you want to attract, so you shouldn’t say, “I want more money, because I’m broke.” Lingering on the negative (“I’m broke”) simply emphasizes it and ensures you’ll remain so. Instead, you must commit to positive thinking such as, “The world is filled with abundance and my share is coming to me now.” All that aside, you probably shouldn’t bank on this too much, as your mortgage company isn’t likely to grant you an extension because you’re waiting on the universe to align itself and send you a check.

Savings Safety Net. Economists recommend having six months’ worth of salary tucked away. Right. If you’re like most Americans, you’re living hand-to-mouth and you probably won’t find that much cash accidentally waylaid under your couch cushions. But even if your paycheck doesn’t match Warren Buffett’s, you should try to set something aside each week, even if it’s only ten dollars. Just be sure to take that money and stick it away as soon as you get paid, before paying anyone else.

Cut Corners. There is something (usually more than one thing) which you can live without -- cable TV, dinner out three times a week or those bi-monthly pedicures. While no one is recommending you reject all your earthly possessions, you probably could live just fine with a bit less. Cut back on some of those luxuries and tuck away the money you save. It’ll add up fast.

Sell Stuff. Between garage sales, pawn shops, EBay, Craigslist and other sites, you could actually make some dough. Though it’s hardly the fast track to financial freedom, it can give you a fast cash infusion. Don’t forget to sell your old gold too. Prices may have peaked, but you can still make some dough on those old disco chains you’re not wearing anymore.

Finally, you could just start your own online business and sell your secrets to obtaining wealth…for a small fee, of course.