INVESTMENTS PAYDAY LOANS ADVICE LOANS AND LENDING SAVINGS When Is The Best Time To Invest? Essential Tips to Help You Start Investing Money While In Your 20s One of the best ways to increase your income and long-term savings is to invest your hard-earned money and allow it to work for you. The recent developments in web-based apps and services have made it easier than ever to invest money in companies or to buy shares. Unfortunately, investing money is often a serious commitment. This is due to the fact that for an investment to be profitable, it must have a minimum duration of 5 years. Furthermore, you need to put a considerable amount of money into a company in order to see a notable amount of profit. In other words, investing money can be hard if you do not have your financial life well-organised and a relatively large savings account. This having been said, there are ways to invest money, even if you are in your 20’s and have just finished your studies. However, you need to plan things carefully and have a lot of discipline when it comes to how you spend your money. Wait for the right time to start investing Investing your money does not require that you have a large amount of money at your disposal. Certain types of investments can be done little by little. However, it is important that you wait until you have the financial stability required to invest money. Have a stable source of income – Whether you have a traditional job or are a content creator, make sure that you have a stable source of income (preferably constant) before investing money. This will allow you to budget your finances and determine exactly how much money you can afford to lose (investing money is basically a calculated bet and does come with certain risks); Pay off your debt – You should first pay off any student loans or other debt that you may have. Invest money only when you no longer have any considerable monthly payments that need to be paid; Create a proper monthly budget – Look at how much money you earn each month and determine what portion of your income will have to go on regular expenses. This should include food, clothes, medical treatments, rent, and debt payments. Everything that remains should be safe to use as investment capital; Save money for a couple of months – Save money for 5-6 months before investing in a company or buying shares. Having a larger amount of money at your disposal will open up additional investment possibilities. For example, if you have saved £2000-£2500 over the course of 6 months, you can invest it using a Robo adviser and use all the “left-over money” from the next months in order to buy shares, one at a time; Getting started with investments is easier than you think. Prioritise your expenses and do not neglect other money-saving strategies It is never a good idea to invest all of your life’s savings in one or more companies. It is also not recommended to neglect other money-saving strategies in favour of investing. In other words, do not use the money that should go into a savings account as capital for investment. Savings accounts are risk-free, while financial investments are essentially calculated bets. First make sure that you deposit money in a savings account (ensuring that you can never lose it), and only then invest in a company. Be smart about how you invest your money If you do not like risk, especially when it comes to money, your best bet is to buy shares from multiple companies. Depending on how much money you have left after your monthly budget, it should be possible to buy even a single share from 5-6 companies. Keep in mind that only the end-game matters when it comes to investing. Buying 5-6 shares per month may not seem like much, but after 5-10 years, you should have enough to earn a lot of money from selling them. Ava Wilson I blog about making money, saving money and spending money. I also talk about loans and personal finance. Give a Comment Save my name, email, and website in this browser for the next time I comment. RECENT POSTS The Smart Man’s Choice When It … If you’ve had a bit of discipline when it comes … Top Reasons Why Businessmen Prefer Short … If you are a business owner, you would have experienced … When Is The Best Time To … One of the best ways to increase your income and … How To Ensure Payday Loan Approval? Have you ever experienced being in a tight financial situation? … The Smart Way to Invest Your … As you go through life and keep saving money, you … CATEGORIES ADVICE INVESTMENTS LOANS AND LENDING PAYDAY LOANS SAVINGS PAGES ABOUT CONTACT RECENT COMMENTS META LOG IN ENTRIES FEED COMMENTS FEED WORDPRESS.ORG Recent Posts The Smart Man’s Choice When It … Top Reasons Why Businessmen Prefer Short … When Is The Best Time To … How To Ensure Payday Loan Approval? Categories Advice Investments Loans and Lending Payday Loans Savings Pages About Contact © 2021 the St James Lending,