HOW TO START INVESTING FOR BEGINNERS

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Why Investing Is Important?

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If you had a Grandma like mine, you grew up hearing about a time when you could get a burger for just 15 cents- at Mcdonald’s. Unfortunately, the price of all goods and services increases over time due to inflation. The takeaway is that money becomes worth less over time.

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While we work hard to save some money for milestones such as retirement, a home, or college tuition, inflation works against our savings, decreasing the value of our hard-earned dollars daily.

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How To Start Investing For Beginners: Step By Step Guide

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Let’s keep this simple- bad debt is any unnecessary debt with an interest rate over 5%. So why do I use 5%-?

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Because that’s what a very conservative investment would have returned over the past century. So you are better off paying down your debts at these high interest rates before beginning to invest.

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After paying down your debt, the next wise move you can make is to eliminate unnecessary spending on things you can’t really afford.

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Swipe Up For The Rest of the Article

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HOW TO START INVESTING FOR BEGINNERS

Why Investing Is Important?

If you had a Grandma like mine, you grew up hearing about a time when you could get a burger for just 15 cents- at Mcdonald’s. Unfortunately, the price of all goods and services increases over time due to inflation. The takeaway is that money becomes worth less over time.

While we work hard to save some money for milestones such as retirement, a home, or college tuition, inflation works against our savings, decreasing the value of our hard-earned dollars daily.

How To Start Investing For Beginners: Step By Step Guide

Before jumping in and investing, we need to take a few essential steps. First, steps 1-3 require getting our personal finances in order before investing.

Let’s keep this simple- bad debt is any unnecessary debt with an interest rate over 5%. So why do I use 5%-?

Step 1: Pay Off All Bad Debt

Because that’s what a very conservative investment would have returned over the past century. So you are better off paying down your debts at these high interest rates before beginning to invest.

After paying down your debt, the next wise move you can make is to eliminate unnecessary spending on things you can’t really afford.

Step 2: Eliminate Money Pits

Swipe Up For The Rest of the Article

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