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4 tips to invest money when you have extra money… by force

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The best thing investors can do

4 συμβουλες για να επενδyσετε χρorματ&alpha? το ζoρι

Economists give advice to those who have understood the importance of investing for their future, but do not currently have much money to spare.

These are the four tips:

1 . Don't go for the big if you haven't secured the little

Before starting to invest, it's a good idea to have some money set aside in case something unexpected happens, as well as to have paid off any high-interest loans. The account with the money that will be used in case something extraordinary arises, it would be good to have at least the amount corresponding to three to six months of someone's expenses. Accordingly, paying off debt, especially from credit cards is very important. If one considers that in this period the banks are raising interest rates, the same debt will constantly increase and the specific amount will be very difficult to cover from the income from the investments.

2. Limit your expenses

Rising inflation doesn't make it any easier to find money to invest. So maybe one needs to reduce his expenses, sacrificing some activity, in order to invest them in something that will bring him money. The best solution, according to economists, is to see where most of your income is spent (eg rent, bills, food) and limit those amounts.

3. Take advantage of any pension plan

Not a few companies offer some kind of pension plan. Economists consider it a very good investment principle since the money that goes into the account is not even received by the employee.

4. Start early and don't stop

The best thing investors can do besides start early and invest consistently. Since one invests for the long term, one should not be worried or even discouraged by the daily fluctuations of the market, since one has entire decades ahead of him until he can make use of the money.

Source: www.kathimerini.com.cy

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