10 Money Tips to Help you Start 2017 Right
5 Investing Money Tips
Money Tips. Most of us try to look through our finances at the beginning of each year. We all want to make more and invest well, but most of us don’t have the time to follow the over 50,000 stock and funds recommendations by “the experts.” So here are five money-making and investments tips that can help you make better “money” decisions, according to the experts:
- Save at least 10% of your net take-home pay. Can’t seem to save? Mostly it’s a matter of discipline. Make a budget. Cut back on discretionary expenditures and create an automatic savings plan.
- Invest in a diversified group of low-cost, no-load index funds. That way if one goes south, you’ll have other funds that balance out your portfolio.
- Think long term. The more you trade, the less you’ll make. Investment winners know the power of waiting. They’re in it for the long haul, and they aren’t hit with frequent transaction fees and taxes.
- Focus on the power of compounding interest. Compounding interest can turn a small investment into a sizable sum of money over time.
- Buy quality, proven index funds, with long-term track records. When you buy solid funds, you won’t be tempted to sell, and the long-term investor almost always wins the race.
5 EASY Saving Money Tips
Would you like a few new, creative ways to save a little money? Here are five tips to help you keep a little more “green” in your pocket:
- Shop only when you need something. Don’t shop for fun unless you are hunting for a bargain.
- Learn to do things yourself. Instead of hiring a painter, learn how to paint your kitchen like a professional. Want to landscape your yard? Take a free class at your local home improvement store on landscaping…and then do the work yourself.
- Live within your means. Hold off on purchases until you can pay cash.
- Research future purchases. Find the best value for your money. Avoid cheaply made items that end up costing you more in the long run.
- Explore thrift stores and garage sales. Sometimes you can find high quality items at low prices.