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Money money money by the pound


I get the feeling that I am missing something. All around me my friends and guild mates are raking in the cash, sporting multiple epic flying mounts and I sit idly by on my little Snowy Gryphon wondering where I am going wrong. I know of people on my server and others that are walking around with 10k + gold in their pockets (and boy they must jingle a lot) and I am at a loss.

Knowing that I have a marvelous resource out there in you readers, I figured it was time to ask the experts. How do I make mad cash? Some suggest doing daily quests, and valiantly I tried that, getting about 800g before alts claimed a good chunk of it for gear and training. I know I should ignore alts if I want to raise cash, but at least one of them is a pet project that I can't give up simply because of money. I have also been told that working the AH is a great way to make cash, and when I tried to manipulate the market I ended up losing 200g to AH fees and barely any sales were made. That just doesn't seem to be a good use of resources to me.

I ask this question of everyone I know that has managed to get an epic mount, and the answers are so varied I know not what path to take. It appears that within this game as in the real world, in order to make money you have to already have some. Unfortunately, all my previous rainy day funds were spent on building my gear and enchanting it for raiding. Where does that leave me? Not broke, but so far from epic flight training I wonder if I will be ready for the next riding tier when WotLK is released. What do you suggest? What are the best ways to rake in the dough?