Investing is close to the hearts of many, with the understanding that it is a smart move that has earned a lot of money to many people. P robably, the scary part about investing is where people are afraid of losing all their money with some not willing to engage in all the work that is involved to make money. B ut investment is not all about fear of risks and work. E ven though there are valid concerns about risks and the amount of work that goes into investing, there are things you can do and steps you can follow to get started on a long term investment plan. L et me take you through the steps of basic simple investing that can inspire a proper mindset that you need to succeed. Draw your personal financial guideline. For any investment, you need your plan clearly laid out, and with the following starter questions; a) How much are you planning to invest? b) What are you investing in? c) Do you have sufficient information regarding the investment option. W hile on this,...
Everyone has a good intention when it comes to saving money, the problem perhaps is when one decides to start doing it. Many have not set money saving as a priority, and therefore usually attach it to some milestones first. For instance, they tell themselves that they will save when they reach a certain age, or when they get some promotions, or after they have completed a certain project. This is a fallacy. Developing healthy savings habit takes care of your future rather than your present needs. But no one wants his/her paycheck to be controlled by debts. Some of these tips will get you started well. 1. Clear your debts. Debts are a great obstacle to money saving. You can adopt the debt snowball method to pay off what you owe; this is where you pay off your debts from the smallest amount you owe to the largest amount. Once you can pay off all your debts, your income is freed and you can begin to focus on the saving goals you have set. 2. Check your...