Make your investment pick
With growing demands, saving is not enough. So investment has a major role to play. Whether you decision to invest was wise or not will take some time to realize but what you can immediately reap as benefit is security of a handsome amount put away and the obvious mental peace to be able to do your everyday duties without worrying about your future. Put your hear-earned money into a designated investment account before you pay any bill or indulge in luxury or oblige to social demands. Rather than trying to save the money that remains at the end of the month, put it away first, before it gets eaten up by other expenses or you are tempted to spend it. So make this a good money habit.
Good Money Habits
It’s a habit. It doesn’t matter how much you are able to invest every month. The important thing is making the commitment so that monthly investments become a habit. This single act will help you towards a healthier financial future.
Include investments as part of your spending plan. Make it a priority above spending for anything else.
Make it automatic
Use your online banking resources to set up auto deposit from checking into your investment accounts. You usually can set the date of the automatic transfer for the day (or a few days after) your paycheck is deposited into your primary account. (Make investment pick)
Find extra money
When you reduce or eliminate an expense, put all or part of the money into additional investments. Put any tax refund, raise, or bonus you receive into investments rather than spending it.
Find good benefits
When you look for a new job, give preference to employers who offer good benefits, such as health insurance, life insurance, matching retirement savings plans, and transportation reimbursement. The less you have to pay for these, the more money you can save for your rainy-day fund.
Keep emergency funds
Open a separate bank or savings account if you don’t already have one and name it “emergency fund’’. If you find an account that earns interest, that’s even better. (Make investment pick)
Not only this, but also the following……….