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How do i get enough money to invest. i get minimum wage, have no savings or superannuation. or? |
what is the best ways of investing small amounts of money. no jargon please, last time i did ecconomics was in year 10, so it would defeat the purose of responding (Your question asks "how do I get enough to invest", not where do I invest ; ) Yellow I don't think you're in a position to begin investing. You should think about building up an emergency fund, say $1000, and pay down debt if you have any. If you are dead set on investing then I would first check if you're employer has a retirement savings program and start there. The important thing is to pay yourself first, say 10% to start then work your way up adding your raises to your savings. the best way for you to invest is better yourself. find a better paying job. find a way to do that then you can invest. investing time and training to find a better job is also an investment . +1 on what Chuck and Dalton said. I do agree with Chuck - you should first save some money for an emergency fund. You can buy stocks directly though some large companies. Some allow as low as $50 minimums to get started, and costs are very low too. "It's like "drip" but no broker is required. I wish I could help you out with the name of it, there is a book on it, so check with your library or bookstore. I did that years ago and I recommend buying stocks this way for people with little to invest. Get a second job and save at least 50% of your first salary and 100% of your second salary until you have enough to open a brokerage account at Zecco. I disagree with the people who say, "don't invest and save money, get out of debt." That does not work! Look at the vast majority of Americans. They have no savings and are deeply in debt. This 'save money and get out of debt' mindset is ruining America and most western nations. The thing is that the money is there to invest, it is how you prioritize investing that is the important aspect. Well first you could try and earn extra income and sign of to free affiliate programs. Basically you can make money while you sleep. I program i have signed up to is http://www.thewealthage.com/affiiate.php and I'm doing quite well with it too! |
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