February 22, 2015
Learning how to save money consistently over time must be mastered if you ever want to become a successful investor? Why? How?
Learning how to save money consistently over time must be mastered if you ever want to become a successful investor? Why? How?
To put it simply, if you dont save your money, you will have no money to invest. You need to set aside a portion of your income every month to put towards your investments so you can reach what goals you are saving for. You are best off saving your money through investing. At Vanguard you can set up an automatic money transfer to your investments every month if you want to. You can have it so you have money put in your ROTH IRA or other accounts there every month. Lets say you want to save 500 a month so you can reach some goal of yours, if you set it up that you have that money put in to Vanguard every month as a form of paying yourself first you will be on track to reaching your goals.
Learning how to save money consistently over time will help you to become a successful investor. Putting some fixed amount into your investments each month will help you to get into a routine of saving your money and help you actually remember to do it. Investing a small amount each month will add up over the course of several years, so that it may not feel like you are contributing much, but in the long run, you have saved quite a bit of your money.
Well said. Let’s recap.
(1) Becoming a great investor is wise, but it will do you little good if you don’t save your money consistently.
(2) Paying yourself first by setting up automatic payments that go into your investment accounts every month will serve you well going forward.
(3) Financially successful people become great savers AND great investors. Combining those two will bring financial freedom to your doorstep. Believe it!