Are you ready to start investing?
If so, have you considered where your funds will come from? Investment money should be extra money you have left over after you pay your monthly bills, create a fund for emergencies, and pay off any large interest debts.
The rule of thumb for savings is ten percent. You should stockpile at least ten percent of your earnings into a savings account each month. As that account grows, you can decide what purposes to use it for. First you should place part into a separate account for emergencies. From there you can use the rest to begin investing. You can either use your money for a down payment on a new home, which is a great real estate investment, or you can choose monetary investments such as stocks and bonds. Initial investors should have at least $500 extra money.
Extra Hours at Work
Don’t have enough saved to start investing but you are still raring to go? Try working some extra hours at your job. Or you could get a part time job in the evening or on the weekends for extra investment capital.
If you get money back each year when you file your taxes, avoid spending it all on new electronics or a vacation. Instead, use some or all of the cash to begin your investment portfolio. By adding money from your tax return each year, you can grow your savings quickly.
Bonuses from work or money from inheritance are also great windfall opportunities to begin investing. Make sure you are caught up on your bills and debts. If so, using these large lump sums of money for venture capital is a great way to grow your money quickly to fund a house down payment, a new car or even your retirement.