- I don’t have enough money to invest…. Get ACORNS -it’s a micro-investing platform where you can invest in the sharemarket for as little as $5 a month!
- I don’t know how to save… You don’t need to! Splash out on the future you by spending on yourself first and put your cash into difficult to access high-interest savings or investment accounts.
- I spend all my money shopping… Cut up your credit cards and store cards. Only carry cash. How easy is it to spend now?
- I don’t have time to sort out my finances… Start small – 5 minutes a day writing down your expenses. Consciousness is a key. A few hours now tracking expenses, writing up a budget and automating your investing is like paying yourself thousands of dollars per hour in future gains. Not doing it means your pissing that money away.
- I don’t know where to start… Start with taking lunch and a refillable bottle of water. Put the money you would have spent into a HISA or old-school piggy bank.
- But the market will crash… It will. Take a breath. Then stick to your plan. Sharemarket dips are an opportunity to buy in at lower prices, and they have invariably recovered. No one retires early from the interest on CD/savings accounts.
Are there any other big financial roadblocks you have simple answers to? Let me know!