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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?

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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!

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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.

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