In Dr. Steve W. Price’s book, “Household Gold,” he describes a plan for how you can make money, potentially a lot of money, through what he calls ‘Household Gold.’ Household Gold is the result of what Price calls ‘Anyway Money.’ This is the money that you spend on essential items in your home like laundry detergent, dish soap, clothes, and more. Price calls this kind of money Anyway Money because it is money that you have to spend, anyway, just to maintain your household and live life. Price then adds up how much Anyway Money is spent on average, per household, per year. The result is a truly astronomical statistic: Americans alone spend $1.1 Trillion on Household Gold items each year. Thinking about it this way, you begin to realize exactly why Price calls the products bought with Anyway Money, ‘Household Gold.’ People invest a large amount of money in the items that they have to buy each week, month, year just to live. This turns those items into veritable gold nuggets just laying around your, and everyone else’s, home. Price terms the value of this ‘Retail Estate’ because it is value that you have within your home.
The book then asks you to think about who is profiting from your Retail Estate. Who is mining your Household Gold? Retail stores like Walmart. Price details exactly how much money Walmart and other retailers make when you choose to shop at their stores and give them your Household Gold instead of earning money with it yourself. The answer: retailers as a whole make nearly $7 Trillion in a year worldwide, and that number is increasing. By putting this into perspective, he helps you “See the obvious,” and realize how ridiculous it is to shop at these retail stores and let other people profit off of the money you have to spend just to live. According to Price, once you have seen this truth, you can choose to either tap into this source of revenue and put in work to make money using his Household Gold model, or continue letting other people get rich from your Anyway Money while you continue with the dream of striking it rich without putting in much effort somewhere else.
Price’s Household Gold model allows you to make diversify your income and make money each month without quitting your job or investing a lot of start-up money. In his model, you take retailers out of the equation and take their place with the wholesalers. By doing this, you are basically setting up your own business in which you can determine how hard you work and therefore how much money you make. Using this model, you could potentially make a few extra bucks a month to a few thousand dollars a year all through money that you would have to spend, anyway. This will allow you to bolster your income and help you feel more financially secure in the modern and ever-changing job market.
As Price states in the book, “You can mine a little gold, or a lot. After all, it’s your business and your choice,” (pg. 84) because it all depends on your attitude and how much you are willing to work. In other words, your attitude determines your performance and if you find yourself ‘unable’ to perform well and earn money, it might be because that is the attitude you have set for yourself.
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