Monday, June 27, 2011

still making gold faster than spending. Savings is Spending, and Tips

Been a while since my last post.  Busy summer months, a bit of a loss of interest in WOW, or the addiction has passed to just being a fancy...  All the same... I am still making gold faster than I spend it.  No current goal of hitting a million really exists, the journey to 500K was a lesson in process, that can be applied universally to anyone that wishes to make gold.
I guess I made enough that I can play with out any worries about buying what i want when I want it.  At one time I chased all the vendor pets and all the mounts...  No interest in that much anymore.  I enjoy leveling, and raiding and some occasional PVP...

Sending 20K to a starter toon and just outright buying any gear I feel is worth it or the training cost, or mats to level a prof, epic flying etc... I just go do it.  I look back and realize the other day I just went to the closest trainer for my recent level 70+ toon.  I did not go look for faction discounts, or previously work to make sure I had max rep to get the best discount etc...

I dont try to save my way to wealth... it just does not work.  You have to engage in MAKING GOLD to increase your wealth.  Working to cut costs and save gold on your purchases will just not increase your bottom line...  Its like a sale at a store... "SAVE! SAVE! SAVE!"  but look at your bank at the end or your trip to save money... You spent money as your "savings/checking" acount is not going to be any larger.

Saving does apply to making, but its a largely different process.  Cutting manufacturing costs and time... that is savings that will pay.  That will increase your profits if you remarket the goods.

Pets, costs are pretty static.  You can not save any money in buying them (beyond faction discounts)  All you can do is save time... Thats why I would buy 12 or more at a time store them in the mailbox.. that was efforts to save time.  Raiding the AH daily and preferable at multiple times daily and even more importantly multiple times of the week, to find low cost mats to manufacture goods that sell is actuall saving time and gold.  Time since it is a concentrated activity focuses on stockpiling.  Savings in gold since I am more likely to stock more mats below my threshold and have them for the manufacturing process...

I reached a half million gold with one toon and 2 professions.  Mostly enchant scrolls, but LW armor kits was huge.  I have to admit I also sold a lot of Primal Might too so a 3rd prof, but that was all I sold from alchy.  never sold my truegold, just been stockpiling it and am well over 100 in the bank.  Also vendor flips of pets and a few other miscelaneous experiments...

Most of my recent income has really been from cleaning out banks and storage of crap and excess goods that were stockpiled...   I only log on to colect mail and repost every few or even several days.  I recently restarted doing a little as I had a lot of mail threatenting to be lost as it expired. 

The gold is easy to make, but you have to set out to make gold.
TIPS....
  1. USE ADDONS
  2. MAKE SLOW AND EXPLORATORY MARKET ENTRY
  3. IT TAKES A COUPLE WEEKS TO GET A REALLY GOOD FEEL FOR WHAT MAT COSTS ARE
  4. IT TAKES A COUPLE WEEKS TO START ACTUALLY GROWING YOUR ACTUAL LIQUID GOLD (since you will hopefully be reinvesting all your gold into the market and stockpiles)
  5. USE ADDONS
  6. LEARN HOW YOUR ADDONS WORK
  7. DONT BE FOOLED BY ADDONS
  8. DONT REACT TOO QUICKLY TO ANY APPARANT AND UNEXPLAINED MARKET SHIFTS (maelstrom crystal dropped in value when the ZA/ZG heroics came out heavenly shards value went up...  You can react to that "explained" shift)(the price of twink enchats fell to the floor??? why??? what happened??? WHO CARES... it will come back or it wont, but for the time its a risky market... just wait it out... could be because school is out, more power leveling more professions, Less low level players leveling. combo of these and many more factors... Just chill..
  9. IT'S BUSINESS AND NOT PERSONAL, JUST FOLLOW A ROUTINE AND SHIFT AS YOU NEED, SLOW AND STEADY...
  10. UPDATE YOUR ADDONS
  11. READ BLOGS
  12. READ PATCH NOTES
  13. READ MORE ABOUT MORE AND DIFFERENT ADDONS..
  14. MORE TIPS
  15. MORE TRICKS
  16. AND MORE AND MORE
Done for now.. see you next time

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