Authorim 31 name is travis and lived a long hard life just like the most of you so i created this page to hopefully teach some of you a little something about investing and starting young if i knew then what i know now i would be a millionaire
|
Back to Blog
Contrary to popular belief, you don’t need to be rich to start investing. Even if you have less than $500 to invest, you can get in on some good investment ideas that only require a few hundred dollars to get started and there’s no single best way to invest. Whether you’re trying to save for retirement, earn additional income or achieve some other type of savings goal, here are six ways you can start investing with less than $500 — and two ways to be prepared before you even start funding your small investments. What to Do Before Jumping Into Small Investment IdeasAlthough dabbling in small investments and new investment ideas doesn’t require a lot of money, it does require some financial healthiness and responsibility. Before you even consider how to invest with little money, you should first ensure your financial health in two ways: Have an emergency fund. Trying to jump on the best investment ideas without first building an emergency fund is setting yourself up for failure, Paul Moyer of SavingFreak said. “As soon as a bad financial situation pops up — a car repair, or a medical bill, etc. — you are going to turn to that investment account to make up the difference.” Don’t sabotage your investments by failing to have an emergency fund. You should also pay off all high-interest credit cards. If you have limited resources, your cash is better put toward paying off credit cards that charge high interest rates before you start investing. The sooner you pay off this type of debt, the less you’ll spend on interest — and the more you’ll have to put toward your small investments that make money.
0 Comments
Read More
Leave a Reply. |