Investing money is something that most people are not focused on. For some, it becomes and issue of not know which stocks to invest in, but for a large majority, they simply do not have the disposable income needed to make investments. Or so they think. Truthfully, there are simple ways to add money to your savings or investments without having to really sacrifice anything.
One of the easiest ways to start investing is to take the money that you spend on everyday purchases and apply that to a savings account or portfolio. Think about your daily coffee purchase. If you spend two dollars on coffee every other day during the week, you are spending six dollars. If you swap out coffee for saving, you will be able to add over $300 to your portfolio over the course of a year. Small purchases don’t seem like a lot, but they really do add up. Same thing can go for meals at local restaurants. If you set aside $50 to go out for a meal at a restaurant like Lai Lai Chinese Restaurant in Dallas, take the leftover money after your bill and send it to your portfolio or savings account. You don’t need to drastically change what you normally do, but saving on simple everyday purchases is a great way to get ahead in the investment process.
There are also apps and services you can employ to take your spare change and add it to a portfolio. These services allow you to set up a credit card and on every purchase they will round up to the nearest whole dollar, sending your spare change directly to an investment account. It may only be a few cents at a time, but even the smallest amount is better than nothing!
Finding money to invest may require that you get a little creative, but that’s half the fun. You won’t regret it when you see your portfolio grow every month.