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It’s funny how people talk about wanting to lose 10lbs, but when you ask them if they’ve changed their diet or hit the gym, they say, “Well, I was really busy last week” Same with money. How many people do you know who talk about what they would do with an extra $1,000/monthbut if you ask them what they’ve done to earn more, they start mumbling about how they’re “still looking for an idea”? I decided to do an experiment. What would you do with an extra $1,000?

Would you use it to pay off debt? Sock it away in your savings account? Let’s find out. I’m giving away $1,001 as an experiment to see what one of you will do with it. All I ask is that you tell me how you spent the money.

Because Indian people always add an extra 1.) I’ll pick the winner on Monday 4/23. Note: This experiment is over.

Thank you for participating! I’d use it to invest in developing two new income streams: 1) offering part of my home as a vacation rental suite (already in progress, would pay for installing a new bathroom sink) – about $450 2) Creating a home voiceover studio for my daughter and I to begin a side business recording voiceovers, individually or as a mom & daughter team. I’ve gotten advice on how to set this up inexpensively, but still sound professional – about $500 3) $50 to give to charity – my current favorite is clean cookstoves to help improve family health in the developing world and slow down global warming. Thanks for the opportunity, Ramit – great food for thought. Hey Ramit, Over the last year, thanks to your material I’ve been able to: – Increase the rates I charge clients by 1000% (!) thanks to Find Your First Profitable Idea (FYFPI). After calculating my taxes, I’ve earned well over $7000 extra on the side.

– Using free material you provided up to the launch of Find Your Dream Job on resumes, cover letters, interviews and the briefcase technique, I landed my a 6 month contract in addition to regular clients on the side. In counting just through the end of 2011, I was able to earn an additional $7000, so $14,000 extra last year thanks to implementing your free material (got FYFPI through a Keith Ferrazzi bonus some time back). – After implementing a majority of tactics from your book, I had every bank charge/fee refunded, renegotiated my car insurance to save $100-$150 off my 6 month premium, renegotiated with Bank of America for a more favorable credit card and implemented a conscious spending plan that, in combination with the extra funds from above, will be paying off the last of my credit card debt in 10 days. Next, I want to test and develop a successful Muse ala Tim Ferriss & the 4 Hour Work Week. Thanks to honing my skills in web design and development through FYFPI & Dream Job endeavors, I know I’ve got the raw web skills to make it happen.

Tim outlines in the 4HWW that each muse should not cost more than $500 to test. I have $508.27 in a sub savings account (conscious spending #FTW) saved for just that purpose. I’m in the identification of my target market phase with magazine subscriptions being sent to me from the UK, California and Australia so that I can figure out their readerships, fish for repeat advertisers for profitability before moving onto product development. If I had an extra $1,001. That’d allow me to test up to three niches and hey, 3.8th time’s the charm as “entrepreneurs average 3.8 failures before final success.” (Lisa Amos) I figure if I fail 3 times, by that third time I’d have saved up enough money to punch through the 4th time lol. Download Buku Sejarah Indonesia Kurikulum 2013 there.

Even if it took longer, I’d still be at it because I’ve got some serious Dreamlines that I need to fulfill. That’s what I’d do with an extra $1,001.

Again, thanks for everything. You’ve already changed my life. To Your Success, Marc. 71 comments in, and nobody has confessed that they’ll use the money to fuel their raging online porn habit. This is the internet, and statistically speaking*, that’s the most likely outcome, so this is odd, to say the least.

Then again, maybe this means that I should read and/or visit different websites... Jokes aside, I would just deposit the money into my online checking account. In a twist, though, I would create a separate account entitled “Ramit’s Gift” so I could watch it grow. Soon it would be $1,010, then $1,100, then eventually I would have all the money in the world! Mwa ha ha ha ha!

Also, I might get a couple of windows refinished a month or two earlier than I had planned. Never let it be said that life as a married parent isn’t exciting! Oh, and I would send Ramit a nice thank you note.

Apartheid 1 0 Lxde I686 Isotope. Not an e-mail, an actual physical piece of paper using the Pony Express or whatever people are using these days to convey letters. For all the plans that people wrote up in their comments, none of the other commenters would have remembered to say a simple “Thank You”. * I do not actually have any actual statistics to support this claim. Stick the money in a 5 year ISA at approx 3-4% interest (as its not enough to qualify for a bigger type of account with higher interest) and then forget about it. It’s the same policy as smoking – I’m halfway to quitting (using electronic cigarettes) but since the money saved already is substantial, I stick it into an account and ignore it. It’s as if the money doesn’t exist, as I don’t use it to pay down debt – it’s “invisble money”. Can be used if I crash a car or brake my leg or something incredibly substsantial like that, but otherwise tucked away and forgotten for a while is the best policy, long term strategy that I use, anyway.

$101 for a charity that gives out micro grants (kiva.org) $320 for a 10-pack of Thesis licenses for WordPress, which allows rapid development of great websites $80 for additional tech books to eval other web technologies (Joomla, Ruby, e-commerce) $500 for a professional painter to paint the interior hallway/exterior of my 4-family rental property. I do have both of your courses. I started with FYFPI last August. I have found my first profitable idea and have been working on it since and totally love it. I recently purchased EARN1K to bring my business to the next level. This month I am expecting to make about $600 with your strategy and anticipate it to go up further as I go through the EARN1K course work. I even started to hire people to help with certain tasks.

So it definitely works for everyone that puts the effort in! Thanks Ramit.

Ramit, Every time I read your blog I expect to see extraordinary material. This is the first post to disappoint me. In the past you’ve recognized thoughtful and creative responses — I immediately signed up and started thinking of what I would do with $1000. But the contest seems to be based solely on referrals. This goes against your message of attracting people by providing lasting value.

I gladly tell my friends about your advice and techniques, but not about $1000 sweepstakes. Have fun with the experiment. It’s interesting to read what other people would do with the money. Good luck to everyone! I would use the money to help pay for a medical procedure that is not covered by insurance in our state (even though it is FDA-approved and may save my daughter’s life). I will save, earn, or borrow the money, regardless, but $1001 would certainly be a jump-start towards paying for this procedure.

If I didn’t have this procedure to pay for, I’d use the money to: –Take a class in creative writing –Buy new wrist braces for my carpal tunnel (so I can keep writing) –Sign up for oboe lessons (I’ve always wanted to learn to play the oboe) –Take a long weekend hiking/back-packing trip with my husband and 3 dogs. (I know you aren’t an animal-loving person Ramit, but some of us are just wired that way.) –If I could stretch it any further, I’d take a yoga class, instead of doing it at home with a DVD instructor.

If I win the $1,000 experiment, I will do three things with the money. First, I will set up a website and pay hosting for the year. Freelance writing clips should be online, and I don’t like advertising for my blogging company each time I give clients the link. I’m tired of looking like a beginner. Next, I will buy books that teach how to format and market eBooks so I can keep making extra money. Finally, with that extra dollar I will buy a coffee for my smart friend so she can tell me how she got her two-book-deal.

Thanks for the opportunity! This is a pretty easy one for me. The first thing I’m doing is taking 201 bucks for just having fun and doing whatever the heck I feel like it with. Ok, it’s not a lot of money, but it’s a nice dinner or a plane ticket to see my girlfriend or a better iPod that I wouldn’t have before.

Something frivolous (or useful, like some new dress shirts and ties) but selfish nonetheless. I’m taking 200 and applying it to 2011’s amount in my Roth IRA, (note, not current year). And I’m putting 200 in to my savings account, which, even though it doesn’t get much interest at all, I use for my Emergency fund and short -medium term goals. Leaving me 400 dollars. I have two CCs I pay off each month, so forget that. My next highest interest debt is my car – so maybe that’s where I would go with it. And then there’s student loans, which I don’t have much there, but maybe a little extra now saves more later.

1001 is not a “life changing” amount – unless we’re talking an extra 12k a year – which for me, would be – so I think it’s important to have a little fun and use the rest to pay down debts or put to goals. Earn 1k would be great here but i’m not sure there aren’t more pressing things for me. Or use it for a week’s vacation to work on the novel i’ve been writing. I would partition the money based on the 5 categories I’ve divided my life and spend it equally: social, financial, mental, spiritual, and physical.

Socially, I’d buy a groupon I just saw for paddleboarding lessons for me and a friend. Mentally, I’d buy evaluations of a couple personality indices I took, (Kolbe A index, strengthfinder). Spiritually, I would find something relaxing to do.

Physically, I’d put it towards an expensive crossfit instructors certification course. Financially, I’d put it towards my first investment property. Honestly, I find that the cracks at people not hitting the gym really get to me. Don’t get me wrong – I’m actually one of those people who decided to get off his ass and started to do something about my sad spare tire.

Since joining the gym in Nov ’11, I’ve lost 15 lbs. How about that? (I’m just really proud of myself) Anyway, related to that – since the weightloss has plateaued — because going to the gym has simply gotten trickier these days because of the God forsaken traffic in the Philippines — I would spend the $1,001 in investing in a home gym. I really joining the gym was a good idea – but the intent is not to go there forever and shell out an extra chunk of my paycheck each month.

I’m happy to say my 5 months being there has taught me enough to want to create the same environment at home. Pics when I’m in the single digit bodyfat range. I am not a creep who will send you NSFW Chatroulette-esque pics.

I ll buy some Shares of National Bank (Hellenic Rebublic) which are now up to 2,euros per Share, its cost was about 20euros per share before 2 years and more more before 4 years, i think that in about 3 years in the future the cost per share will be 10euros/share so i ll make 5×1000 = 5000dols some clues of course the amount you will give me ( 😀 ) is 1001dols so i ll have to use 1 more dollar (1000+1), with this i ll buy a drink from a market and think how i would be with 5000dollars in 3 years 😀 😀. 1.) 10% to a charity that offers free training in accounting/buiness apps for out-of-work people 2.) Buy 2 copies of IWTMYR — donate one to the charity, and one to local library 3.) Join the professional organization for the buiness I started with a friend about 1 year ago after reading IWTMYR and joining Earn $1k (we’ve earned over $10k this year, made alot of mistakes, gained alot of experience, and are now ready to take our buiness to the next level in advertising, organizational leadership, and phone/web consultations) 4.) Put the rest toward debt. I would first give 10% of it to my church, not out of obligation but a desire to do so. The rest would depend on how I received it.

Coming from you, Ramit, I would use half to buy a Transformer Prime tablet with keyboard dock and the other half to fund the electric vehicle motor controller development that I have 80% designed. If it came from a family member, I would put it toward finishing my basement (currently about halfway through doing most of the work myself). If my wife received it, we would use it for college savings for the kids. If I found it or won it (lottery style, which I would never play), I would buy the tablet and an RC helicopter and parts to finish my PS3 motion controlled gun for use with games that don’t support PSmove. Ramit, while I applaud the effort of the social experiment, I wonder if Heisenberg’s uncertainty principle will skew the results you are looking for. I would venture a guess that 80% of your audience would use it (or at least plan on using it) for something side-business related. After setting aside the amount for taxes.

I would go to the local turtle races, have each turtle represent a different outcome for the money. Turtle 1- take classes on how to set up a website that can sell products, and buy jewelry making supplies to start a jewelry business. Turtle 2- buy a 150cc scooter from a friend of mine. Turtle 3- take a trip to Hawaii to visit a friend of mine and sit in at a couple gigs. Turtle 4- turn my jeep into an rv and take a page from a friend in San Francisco and start a travel blog and live a life nomadic. Turtle 5- invest in something boring like a CD, savings account, or IRA (not the “political” group that would count as exciting).

Turtle 6- ice cream yeah that’s right ice cream. Hi Ramit, I’m a fairly new reader of your blog. My question would be how you are going to choose the winner. 1) Is it the best answer? How could you decide? There are so many awesome ways to use this $1001 as shown by your readers.

Also, if it depends on what they DO with the $1001 instead of what they SAY, how are you to hold the winner accountable? 2) Is the winner going to be chosen by chance? Then more comment entries the better.

3) Is the winner going to be chosen by how close *you* would spend the $1001? Then it’s a guessing game. If I won $1001 I would personally put it towards 2 certifications that I am trying to earn in June in order to provide me with more earning power. Impulsively, I wanted to answer BILLS, student loans, stock up on groceries and paper goods, running shoes, etc. But, after a day considering this question I decided I would purchase a new TV for my husband and me. Here’s my justification: My day starts with a trip to the gym before work at 5:00 am, I work 8-5 (often later), come home, enjoy some down time –reading a book or watch a movie with my husband- and go to bed. My husband is usually waking up about the time I get home from work; he’s a bartender and is on a completely different schedule than I am.

He works on my days off and I’m sleeping while he’s off. This leaves our only time together to be Sundays after he wakes up (Game of Thrones on HBO) and a couple of hours after work when we watch a movie together before I’m off to bed. (We sound lame but it’s important to both of us to pay cash for everything we purchase and pay off all my student loan debt. My TV is about 11 years old, bulky heavy, everyone looks orange, the screen is small but we can never justify spending that much money on anything but “responsibilities”. However, if I received money specifically for a new TV it would be like winning a TV and that’s what I would get!

I came home from work yesterday and said to my husband, “You know that blog I read? Well, Ramit is giving away $1,000 dollars.” Immediately my husband says, “Bills.” Then I explained to him I wanted a new TV and why and we both agreed we would FINALLY buy a new, awesome, big, TV and a movie/popcorn.

In your e-mail you write: >How many people do you know who talk about what they would do with an extra $1,000/month But it doesn’t look like a $1,000 per month, what you’re offering, more like $1,001 just once, and that’s it Anyway, I’d use it to get my driver’s license I’m 56 years old, and I have only a motorbike license. I live in Amsterdam (Holland), and finding parking space for a car is really hard and expensive. So I’ve gotten along by bicycle and public transport. I want to expand my company (webdesign, graphics design) into photography (saw your video at Chase Jarvis’s website) BUT I really, really need to drive a car, with all the photographic equipment. So, I’d take drining lessons with that money, and when I’d have set up my photography business and were making a decent income, I’d send out an e-mail to everyone I know, asking them what they’d do with a 1001 dollars and a month later another 1001 dollars, and give it away to the one that came up with the most original answer. They’d have to promise that they’d send an extra 1001 dollars (apart of what they received from me) to the next person to receive the money, in another month, as soon as they could afford it. I love the “paying it forward” principle.

Here is my plan Take 2 days from work unpaid. This will allow me to go to the university during business hours. This is important because I need to get permission to post the flyers for my new business idea. I will post several of them in key areas, and use the rest of the time to meet with professors and counselors who can recommend my services to students. Second, I would use $50 to invest in materials for the side business. Forms, cards, free crap kids in college like, etc. Third, I would take several people out to lunch or coffee.

I work in a very isolated part of my company, and it would be great to get out and meet some new people. For example, there is one higher up here that has given me really good advice regarding the “right” education for the company I work for. I would love to talk to him more.

Why do I want to do this? Beause regardless of how much I believed you in the past. I FOUND OUT THE HARD WAY THAT YOU ARE RIGHT ABOUT SIDE INCOME! The story is that I have busted my hump for a year to prove my vaule to this company. I have gotten a professional license, started coursework for my masters degree, have taken on more than I need to, etc.

At my performance review I was told that I am meeting (not exceeing) expectations and as a reward I was being given a 3% raise. I can easily add three percent to my income on the side without all of the struggle. What have I learned from writing all of this? Honestly, $1001 is really not much money. I earn that in about 20 hours worth of work.

So really why would I do this with extra money if I already have the money? Its obviously not money that is holding me back. Thanks for the insight your post provided. I will used vacation time I have coming up to do these things instead. Of course an extra $1001 wouldn’t hurt. I would use $1,001.00 to kick-start my pursuit of a lantern-rental business for weddings and events.

I make tessellation lanterns: I think these things are magical as all heck, and I’ve always felt they would be an incredible presence at a wedding – but they’re complicated to make, and the cost of time and materials to make or buy any large quantity of them for a reception or party would be fairly prohibitive. Enter the Crooked River Fae Light rental company. Couples or event hosts who wanted these tesselanterns hung for one night from ceilings/trellises/trees could, instead of buying them, pay a fee to rent them for a day/night. I’d transport as many lamps as they wanted to the specified location, hang them, then take them down again at the end of the event. For newlyweds, I would include a gift lantern with personalized drawings or text on the inside of the lamp. I intend to make this business happen, eventually, whether or not I win the $1001.00 – but I’d be over the moon if I received the funds to do so while I have time and energy to invest in the startup phase. In June I will complete a masters degree, and in light of the lack of permanent positions in my field being available just yet, this summer would be the ideal time for me to put this lantern idea in motion.

The Breakdown: $415 – die cut machine and software for cutting lantern pieces (up to this point I’ve been hand tracing and cutting the cardstock pieces) $350 – 100 battery powered LED terminals w/ hanging wire $50 – cardstock for 110 lanterns $101 – to nest egg savings account (rule of thumb I picked up from my dad) $85 – to kiva.org (Pay It Forward, etc.) Them’s the specs. Very cool experiment, Ramit – thanks for the opportunity! Being an unemployed dad of 2 daughters, trying to finally finish my first step of my college education, I’d have to split it.

25% would pay for my last few life credits and graduation costs so I could start applying for jobs as a College graduate. 25% I’d save to increase my “emergency fund” 25% for some bills to eliminate late fees and interest, and the last 25% as a fun investment for my kids. A trip to Washington DC to hit the museums they’ve been asking to visit this summer. It would be a great use for “found” money.