Current price of Gold

 

 

 

Buying gold is a great way to cut back on buying junk.

 

One of the rarely stated benefits of buying gold is that once you have spent the money on buying a gold coin, for instance, than money is no longer available to you for frivolous spending.

 

Think back over the last 12 months and make a list of all the purchases you have made which, in hindsight, were a total waste of money.

 

Clothes, a few DVDs, bad meals at restaurants, some furniture, “must have” electronic gadgets, exercise equipment, gadgets for the kitchen, stuff for the garden.

 

If you don’t buy a ton of stuff you don’t need, you're an exception.

 

According to recent figures the self-storage industry in the US is now a $22 billion a year industry and growing fast. Almost every town has at least one self-storage facility, with every unit crammed with stuff that people don’t have space for in their homes. Most of that stuff they never needed in the first place.

 

Add up the cost of all the stuff you bought last year, but didn’t really need, and then figure out how many gold coins you could have bought if you hadn’t wasted that money.

 

For the next twelve months, try reversing the process. Cut out the impulse spending on junk you don’t need, and buy gold coins instead.

 

Once you have the gold stored in your home, it’s as if that cash is locked up and not available for wasting.

 

Let’s say, for instance, you find to your horror that almost $1,000 in spending each month was actually unnecessary. You have been buying stuff you just didn’t need or use.

 

For the next 12 months you can buy a one-ounce gold coin each month.

Instead of buying junk and even having to pay to store it, you’ll instead have a stash of gold coins which will hold your wealth in a secure form for use at some time in the future when you need it.

 

That’s the beauty of buying gold. Your wealth is sure and safe, but always liquid if you need it.