I know your type. You always say you’re going to start investing for your future once you have just a little extra money in your account. The problem is time keeps passing by and that extra money always seems to end up somewhere else!
Well my friend, the longer you wait the longer it will take you to reach your savings goals. So stop procrastinating and start thinking of ways you can squeeze a few dollars out of your budget so you can begin investing and let your money work for you.
Here are a few suggestions on you can find money to invest:
Cut your spending.
We all have a little fat in our budgets that we can cut out without even noticing. Can you eat out less often? Switch to a less expensive calling plan? Cut out the expensive cable movie package? I bet there are plenty of ways you can save money if you took a closer look at your spending.
Sell unwanted possessions.
If you’re like most people you have so much “stuff” that you don’t know what to do with it all. Well the time has come for a major clean up. Start going through your clutter and sell whatever you no longer need or want. Ebay and Craigslist are great options for unloading unwanted stuff online. Or if you have enough items to make it worthwhile you can hold a garage sale and get rid of everything all at once. One advantage that garage sales have over ebay is that you don’t need to worry about packing and shipping everything.
Invest your tax return.
If you’re used to getting a fat tax refund check from the government each year, don’t give in to the temptation to spend it on a vacation getaway or a flat screen tv. Open up an investment account instead and let that money start growing.
Get a part time job.
I know you probably don’t want to hear it but getting a part time job is one of the most effective ways to find money for investing. Think about it. If you can just work a few nights a week or one weekend you can easily bring in $100 a week after taxes. At the end of the year you’ll have over $5,000 to invest! Of course you don’t need to wait until you have that much saved up. You can deposit each week and take advantage of dollar cost averaging.
There you go…that’s four ideas to help you find money to invest. What are you waiting for?
This article was written by Mike Collins. Check out Mike’s blog at http://SavingMoneyToday.net to learn more about getting out of debt and achieving financial freedom so you can have more time for the important things in life.