“If you always do what you’ve always done, you’ll always get what you’ve always got.”
– Henry Ford
Good Small Investments
Try the cookie jar approach
In order to invest money, you must have some money to save . But that that can be much easier than you think. All you have to do is earn some money and put a small amount of it away as you go. If you can start by putting away just $10 per week, over the course of a year it comes to over $500 in savings.
The point of this is to get yourself into the habit of spending a little bit less than you earn, and stashing the money away in a safe place.
The advantage to the cookie jar method is that you can put the money away and forget that it’s there. The electronic equivalent is the online savings account; it’s separate from your checking account. The money can be withdrawn in two business days if you need it, but it’s not linked to your debit card. Then when the stash is large enough, you can take it out and move it into some actual investment vehicles.
You can start with small amounts of money, and then increase as you get more comfortable with the process. It may be a matter of deciding not to go to McDonald’s, and putting the money into the cookie jar instead. Or could mean passing on the movies, and saving the cash.
If you have trouble setting that money aside, Digit.co is a free app that analyzes your checking account and makes small transfers to a savings account for you. Prefer that money to be invested right away? Acorns is an app that rounds up your credit and debit card purchases and invests the difference.
It’s not fancy, but it’s a start. And for people who’ve never been savers, getting that start is all the more important.
Read more at: http://www.moneyunder30.com/start-investing-with-little-money