Spending, Rewards, Gambles, and Investments
Spending, Rewards, Gambles, and Investments
So you think that spending gold is just spending gold?
Spending Warcraft Gold
Out of your spending, you will divide up your gold:
30-90% for your piggy bank character, for savings.
10-50% working capital, investing in stock, or in yourself.
0-10% gold for toying with, or rewarding yourself.
0-10% gambling or learning capital.
1: Warcraft Gold Rewards
Reward spending is when you have worked hard at gold making, you’ve made 100g, or 1,000g, or 100,000g today
Rewards are items are what you buy yourself.
You need to reward yourself in order to sustain high productivity.
Rewarding yourself helps keep your motivation high.
Everyone deserves a reward.
When rewards go wrong
Include your self-reward in your plans for spending, otherwise you will over-reward yourself, indulge, and spend gold out of your investment, or your savings!
2: Gold Investments
Investment is when you spend some gold, 100% sure that you will make a profit from this.
An example of investment is buying leather to craft a leather item for sale.
This is only an investment when you have either strong experience, or you have spent time researching, so that you can be certain it will sell.
Another example is buying a high-demand mount for sale at 50% of its normal selling price. You are certain that it will sell soon, and for a profit.
Investing in yourself
You also make an investment when you learn a profession. You are investing in yourself, and you are 100% certain that picking herbs or ore, or leather, or crafting anything, can bring in more gold than you spent on your self-investment.
3: Gambles with WoW Gold
Gambling is just like investment.
It is when you spend some gold, but you are not sure whether it will make a profit.
Put aside a certain small percentage of your gold spending for “learning”. For allowing yourself to make mistakes.
When Gambles Go Wrong
There is a difference between investing and gambling. The difference is you know the gold you spend will be returned to you.
Buying low cost Exotic Leather, to craft Misthide Bracers for vendoring at a profit, this is an investment.
Buying 1 expensive item on the Black Market Auction House, after researching The Undermine Journal and WoWuction.com and discovering it may well sell for triple your price. This is a learning investment. You are spending gold to discover something. You’re gambling that you won’t get the gold back, but you’re willing to take the risk in order to “buy” learning for yourself.
Buying 100 White Tickbird Hatchlings at whatevever-is-currently-cheapest, because you saw a Twitch Streamer level one to 25, and earn a thousand gold. This is neither a learning opportunity, nor an investment. It’s a pure gamble.
Saving your gold is lesson one in the Free Gold Making Email Course.
Without putting some gold aside, it will get spent. Whether it is in excited investment, indulgent self-rewards, or simply on every day items that you think you need, but you could manage without.
Set yourself a bank character, and send a regular, large percentage over to your piggy bank character to hold on to. Your savings, the amount of gold you hold in your piggy bank char will increase every time you log in.
Eventually you will need several piggy bank characters to hold all your gold.
What can go wrong with savings?
If you do not save gold, you will either break even, or make a loss.
The Gold Queen is written by Alyzande. With many level 100s, 9 years expertise in making gold, 11 garrisons, 17k+ achievements, 1593 days played, and over 32 million gold earned. The Gold Queen blog teaches you how to make gold playing World of Warcraft using ethical trading, auction house flipping, crafting, reselling snatch lists, and farming gold making.
I have been working really hard at saving my gold working till Gold cap, figuring that would be my huge reward in the end. But then one day I was perusing the auction house out of pure boredom….and I decided to check what wow tcg mounts were available on the AH, every so often I check not only my favorite wow tcg seller, but he is also my competition who we have been in contact before and I even made a purchase of my swift spectral tiger from him. so I trust him to not sell Duped mounts or anything. It was just before christmas and I saw 2 of the mounts I had desired…Corrupted Hyppogryph & Amani Dragonhawk. Both were around 100k gold, and with sitting around 400k on my account…The prices of those had went down. Before hand they were both between 350k-500k on my server. Seeing them as a steal, I decided if i didnt snag them up when I did, I might regret it later on as they were a pretty good deal and a deal you might not see in the future being a high pop realm with everything jyst about overpriced. So, I rewarded myself and thats when I learned its perfectly okay to have that final goal in mind (reaching gold cap…which I would like to do by the end of the year on at least ONE toon…), but it is also okay to splurge a little…otherwise it feels like all work & no play! and lets face it, for work to be fun…You have to give yourself some playtime too! Good article, I just wish it had come a lot sooner! lol Now, I have a goal in mind that each time I reach 100k (extra…so like if I have 200k, then once I get to 300k) buy myself a little something whether its a new mount or a new gear piece, or just taking a day off of work…and enjoying my DK while leveling her 🙂 I even make sure to take time out to attempt Ashes each day on a different toon….Hey, hopefully, I will get lucky right? 🙂
Hi Cat, yeah I hope you get lucky! I haven’t got that ashes of alar mount yet (sadface!)
It sounds like you made the right decision with the corrupted hippogryph and amani dragonhawk too.