What To Do With Money Sitting In The Bank

- February 15, 2021

Hey, frugal friends while you're grinding away to save that cash please don't forget to invest some of it. I recommend using the Robinhood investing app. They don't charge any fees to manage your account like many others. Plus they allow you to do things like fractional investing. That's when you are allowed to purchase a percentage of stock. Instead of being required to purchase the whole thing. This comes in handy if say you want to own some Google shares but only have a few hundred dollars to invest. Well, currently their stock is over 2,000 US dollars a share. But with RobinHood you can purchase roughly 10 percent of the stock for your 200 dollars. You could even drop your investment down to 20 dollars and purchase 1 percent if you like. Best of all they give away free stock just for signing up. 

Investing Guide

Free Stocks With Robinhood

Robin gives you a free stock just for signing up for a commission-free account. 

How to Claim FREE Stock. 

1. Vist this Link and click on the button that says "Claim your free stock now". 

2. Create your free Commission-free trading account. 

3. Claim your free stock worth up to $250 value. You have a 100% chance of getting a free stock. 

Don't Let Your Money's Value Waste Away Sitting In Your Bank 

 I say that only because that was I mistake I made while I was younger. For instance, while I was in college I went a long way to save money on food. Then when I got married my wife and I figured out how to save a ton of money on laundry by using soap nuts and wool dryer balls. All the money I was saving was just sitting in the bank.  In my early 20's I was so focused on saving extra cash I never took to time to put that cash to work. After all, our money is worth a little less every day. The only way to sidestep this financial tragedy is by investing. Plus when you do it right you are not only preserving your savings but multiplying it as well. If you are not already investing it's time to get started! 

Getting Started With Investing

When it comes to investing, the timeline you follow is actually more important than the amount you invest. It’s easier and more cost-effective to start early even with only a small amount than to wait until you’re already at the prime of your life. This doesn’t mean that you shouldn’t be investing anymore once you’re past a certain age. But investing much later leaves you with lesser time to grow your money and reap the benefits from your investments. Indeed, investing is a lifelong process that you need to commit to, so you can secure your future and that of your family.

Good Financial Habits

To be successful in investing, you need to adopt good financial habits. First on the list is being a disciplined saver. As soon as you start earning, you should set aside money on a regular basis to build your savings or investment fund. This helps you develop a mindset that prioritizes saving, so you can turn your goals into reality.

You also need to be strategic, but first, you need to know the different factors involved in investing. This way, you’ll see a clear picture of how to invest your money.
Speaking of factors, there are at least three things that you should consider when making investment choices. These are your investment goals, income status, and risk tolerance. But take note that each of these changes as you go from one life stage to another.

Your goals or motivations become bigger as time passes because your point of view also shifts over time. For example, you might have been more interested in toys than in any other thing when you were still a kid, but as you age, you would eventually outgrow your love for toys. Your idea of what makes life fun might now be centered on things like clothing or traveling.

In the same manner, your personal goals differ before and after marriage. The salary you get from an entry-level job may be enough while you’re still single, but you might find yourself looking to find greener pasture once you decide to build a family. As your family grows and you start having children, the needs multiply, too. You and your spouse must now make sure that you’re able to provide for those needs by managing your income and investments well. You want to make sure that the amount or level of risk that’s tied with your investments will not exceed what you can afford to lose, especially when you consider the time element.

Pick The Right Investing Strategy 

If you plan to invest long term, you’re more likely able to tolerate higher-level risks with your investment. But if you’re a short-term investor, you should be rather conservative since you have lesser time to recover from potential losses.

These are some of the valuable tips you need to learn about investing. For additional ideas, here’s an investment guide that helps you identify and analyze the different options available for you. With the right kind of knowledge, understanding, and confidence, you can make investment decisions that are beneficial for you and your family.

  Don't Have Any Cash To Get Started Investing? 

Some of you may be saying I only wish I had money to invest. I have been there and I can tell your learning how to make a monthly budget is a good place to get started. But once you have started putting that cash away please don't let it just set there! 

Please let us know what you guys are investing in below in the comments. What's your favorite way of putting your money to work in real estate, the stock market, bonds, savings account, or something else?

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