i'd like to save money and manage it better, and maybe even invest and grow it.
Help!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2006-09-01 05:41:32 · 7 answers · asked by assy_chic 2 in Business & Finance ➔ Investing
Stop spending like the queen of england
spending less than you make
control the urge of fansy stuff like cars,cloths,latte, eat out, cut down cable or satelitle bills
set aside 1000-2000 for cash emergency so in case your car broke down,doctor appointment, house leaked so you do not have to use the the credit card cycle no more. Paying cash for what you want
set aside 10-15% of your money to 401k, roth ira. in the mean time, learn how to invest the right way
I learned the hard way at the young age 21-25, but I am lucky enough to turn around and learn quickly. AT the age of 32, my 401k+rothira combined is 73000 and 30000 for cash emergency. car paying off and do not feel like living pay check to paycheck no more, less pressure
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 73,000.00 and 30000.00 in taxble account. by follow simple rule
2006-09-01 06:00:28 · answer #1 · answered by Hoa N 6 · 0⤊ 0⤋
The best thing you can do to save money is "pay yourself first". This means having money go into a savings/investment account/retirement savings account etc., as soon as you get paid. You can set up your account for automatic withdrawals to do this.
Here is a website to with calculators to show how much your saving can grow. http://www.mackenziefinancial.com/en/pub/tools/calculators/index.shtml
As for managing it, if you track your daily expenses for a month, then calculate them for the year, you might be surprised how much you spend on the little things.
2006-09-01 05:55:58 · answer #2 · answered by olympus3030 1 · 0⤊ 0⤋
You could talk to a financial adviser. They would give you some tips. You could also develop a budget with a percentage of savings factored in. As far as investing you could try mutual funds, stock market, certificates of deposit, bonds, or just a plain old savings account or you could send me your money and I will save it for you, he-he jk ;-)
2006-09-01 05:50:16 · answer #3 · answered by littlestory 3 · 0⤊ 0⤋
Money Management 101
By: Jeff Lakie
this article should help you with your question! Plus, this web site has a load of tips and advice in it too!
2006-09-01 05:59:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
FIRST YOU HAVE TO HAVE SOME....WHETHER YOU BORROW FROM RELATIVES AND REPAY OR NOT......INVEST IN SOMETHING THAT GIVES A SOLID INCOME....A BUSINESS IN WHICH YOU ARE KNOWLEGEABLE OR RENTAL WITH A CASH FLOW....ALWAYS RESERVE SOMETHING IN A SAVINGS NO MATTER HOW SMALL... USE CREDIT CARDS JUDICIOUSLY....KEEP AN INTELLIGENT CONTROL OF YOUR SPENDING... QUALITY IS ALWAYS BETTER THAN QUANITY....PAY YOUR BILLS IN A TIMELY MANNER TO RETAIN YOUR CREDIT FOR LARGER INVESTMENTS...
2006-09-01 05:47:26 · answer #5 · answered by flowerspirit2000 6 · 0⤊ 0⤋
complicated factor. search at bing and yahoo. it can help!
2014-12-07 14:48:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
send it to me,I'll take care of it for you
2006-09-01 05:47:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋