Saving and investing
Information you should know to succeed in the business world
Saving and investesting step-by-step
After your completed step one and you are not running out of cash each month then you are ready to..
Step two: Beginning to invest. Invest small and low risk first. This mean try instest in bonds, mutual funds, unitlity stocks.
Step 3: Systematic Investing. Invest on a regular and planned basis. Long-ranged ( 20+ years).
Step 4: Strategic investing. Give your portfolio some diversity. Median-term range ( 5-10 years).
Step 5: Speculative investing.This step is the most risky of all the other steps. This is because you have the most to lose and most to gain all with one choice.
Helpful tips that will benefit you later on
- Estimate your monthly income and expenses and try to cut on unnecessary material if possible
-Use rule of 72
- This rule is really helpful in creating an outlook on what you will have in your savings account and long it will take it get it. By dividing the number 72 by the annual rate of return on the investment and by use this rule it helps answer the number of years it will take to double the original investment.