Taking a step back from what our investment strategies and goals are, I would like to take the time to create content on how to save money for your investments. This will be the first of many posts talking about strategies and theories we use and follow that help us build our investment portfolios. Now let’s get into it.
We classify our investments as long term savings; so for us, making investments means saving money. Saving starts with looking at what you currently have. It means taking care of your clothes, shoes, laptops, phones, cars, kitchen materials, couches, shower curtains, etc. the list is ongoing. You don’t need the latest and greatest thing that just came out. Save your money, what you currently have has worked and it works great. Once you become grateful for what you have, you’ll have those things last twice as long as you thought. This means your expenses will lower, and you will have more money to save. Another change that can help you save money, is eating out less. Being able to cook and eat in saves money and lowers your expenses. Perhaps instead of using mass transit, you could try walking, especially if you live in a big city. Don’t spend money on mass transit if you can avoid it. Spend as little money as possible in every aspect of your day. So to wrap up this first post, some things you should walk away with is to make sure your items last as long as possible, eat-in, walk if possible, and save as much money as you can… every dollar counts.
Categories: How to Start Saving