Financial Freedom: How to start Investing!!!
-First things first you need to do is decrease your debt!
-Not all debt is bad however most of it is against you/people making money off of you!
-First you need to learn how to save before you invest
-If you cant manage $100 you cant manage $1000
-Budget! (Sucks but there are easier ways to do it)
-THE MOST IMPORTANT THING ABOUT SAVING IS INCOME
~Do you need to get a better job? Do you need side hustles? Do you need to sell things?
- Every new investor likes to put all their eggs in one basket but that is not smart
- Multiple stocks, multiple accounts, different types of investments! So if one or two go bad, you have others
-The best investment is in education!
-Knowledge will make you the most money
-Youtube, books, article, courses, mentors
-You should know the different type of investments and what you want to invest in and the different ways you can invest in them!
ONCE YOU UNDERSTAND THE FOUR THINGS ABOVE
SCARED MONEY DOESN’T MAKE MONEY
STOCK MARKET ALWAYS RECOVERS SO NO FOMO
YOU WILL LOSE SOME MONEY BUT YOU WILL MAKE WAY MORE
You have to pick the type of investor you want to be
You have to set goals and plan
Find a broker to use
For beginners I suggest acorn! Its an app you can use now that invests your round ups from purchases! EX: you spend 10.50 at chipotle, the .50 cent difference between the next dollar will be invested for you
-I let my acorns get to 1000 then put that in a better account
Lastly, if you have savings, put them in a high interest savings account!