I often hear women in their 20s and early 30s say they don’t have enough money to start investing.
I don’t believe it!
I believe everyone has enough money to start investing as long as they make it a priority.
Unfortunately, most women at this age do not make investing a priority because they don’t really understand how it can help them in the long run.
You see, investing in the stock market allows you to potentially grow your money at a higher rate than a savings account.
And if you can grow your money faster than a savings account can, then over time you’ll have a lot more money for your various financial goals.
How, you ask?
Not having enough money to pay the bills is an issue we may face from time to time. Life is full of financial ups-and-downs, and after all, we’re all human.
Don’t beat yourself about the situation or get discouraged. Vow to take action. If you don’t make changes, things will stay the same. If you’re in a tough financial spot, here’s what to do when you can’t pay your bills on time, and tips on how to best handle the situation.
1. Don’t Hide From the Facts
Do you know why you can’t pay your bills? Did you overspend, have to make up for an emergency, or was it just human error? Don’t hide from the facts, but instead embrace them head-on. Not dealing with this financial mess can lead to more late fees, higher interest rates, additional interest charges, and even damage your credit report.
When you go to your favorite grocery store, do you choose a cart instead of a basket? Hum along to the tune that’s playing? Or accept a sample of the new gouda cheese or pine nut hummus on offer?
If you answered yes to any of the above, you were likely seduced into spending more than you intended. And insidious ploys to get you to open your wallet are also going on at malls, in dressing rooms and on shopping websites across India.
In fact, one man has devoted his career to studying them: Martin Lindstrom—author of Brandwashed: Tricks Companies Use to Manipulate Our Minds and Persuade Us to Buy—is a marketing guru turned consumer advocate, and the foremost expert on the new, nefarious field of neuromarketing.
If there’s one thing that all wealthy people have in common it’s this: They invest.
That’s because investing money is the smartest and most reliable way to grow it over the long term, after you have first built up your emergency savings (which never gets invested).
Investing in a Nutshell
Investing is putting your money in a financial vehicle that might enable it to grow more quickly than it would in a savings account.
While most of us think of “earning” as putting in hours of work and getting paid for that, investing essentially puts our money into a marketplace where companies and governments and other entities can use it to create a profit that will be returned to us. (At least that’s the hope—some investments do go bust, taking our money with them.)
Most commonly, people invest by buying financial assets like stocks, bonds, mutual funds and ETFs (and if you don’t know exactly what these are, don’t worry, we’ll describe them later). When we sell them, we hopefully make a profit by selling at a price higher than what we bought them for.
Even though consumers have been using online banking and mobile applications for years, the concept of online financial planners like Moneyfrog.in is still new. In comparison to a traditional face-to-face financial planning relationship, how do online financial planners work?
Online financial planners allow you to:
Most prefer to rely on cash savings to take care of their medical costs in retirement, reveals the recent Max Bupa Health Insurance Pulse 2015 survey. Riju Dave lists some key findings.