Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much just by a little each week but they continue to creep up and up.
Many first time investors think that they should invest all of their savings. This isn’t necessarily true. To determine how much money you should invest, you must first determine how much you actually can afford to invest, and what your financial goals are.
Along the way, you may make a few investing mistakes, however, there are big mistakes that you absolutely must avoid if you are to be a successful investor. For instance, the biggest investing mistake that you could ever make is to not invest at all, or to put off investing until later. Make your money work for you – even if all you can spare is £20 a week to invest!
Investing has become increasingly important over the years, as the future of social security benefits becomes unknown. People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they may be in for a rude awakening when they no longer have the ability to earn a steady income. Investing is the answer to the unknowns of the future.
There are several different types of investments, and there are many factors in determining where you should invest your funds.
Of course, determining where you will invest begins with researching the various available types of investments, determining your risk tolerance, and determining your investment style – along with your financial goals.
You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.
Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.
Answer these questions truthfully: Does your spouse or partner complain that you spend too much money? Are you surprised each…