A few tips to save, grow and multiply your money
Money, money, money, money, money, money, money… Everybody always wants more money! Other than the obvious notion to work harder than you currently are (hard work is the only 100% reliable way to make more money), what are some good ways to save your money, grow your money and multiply your money? It would be nice if you could just plant a money tree, but if that doesn’t seem to be working for you, try out these other pieces of advice:
“An investment in knowledge pays the best interest.” – Benjamin Franklin
Whether it be going back to school, getting a technical certification, earning a coach’s license, or something else, putting money toward education is one of the most reliable ways to grow your money.
“Investing is laying out money now to get more money back in the future.” – Warren Buffet
The type of investments that you choose can depend on your age, the amount of money you have and the amount of risk you are willing to take. But the bottom line is that you need to invest. Did you know that if you put around $200 dollars a month into an aggressive investment account for 40 years, your almost $100,000 dollars can turn into over 2 million dollars? Prepare for the future: Invest!
“Be Prepared… the meaning of the motto is that a scout must prepare himself by previous thinking out and practicing how to act on any accident or emergency so that he is never taken by surprise.” – Robert Baden-Powell
Do you have an emergency fund? Financial experts recommend that people have at least three months worth of your entire house’s/family’s expenses saved up. In most cases, professionals recommend saving, and having ready at any moment, six months to a year’s worth of expenses. We never know when we might lose a job, be seriously injured, or run into tough times financially. It’s always better to be safe than sorry!
The trick to save, grow and multiply your money is to be smart with it! You’ve worked hard for it, so take care of it.