Quick answers to six financial roadblocks

  1. 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!
  2. 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.
  3. I spend all my money shopping… Cut up your credit cards and store cards. Only carry cash. How easy is it to spend now?
  4. 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.
  5. I don’t know where to startStart with taking lunch and a refillable bottle of water. Put the money you would have spent into a HISA or old-school piggy bank.
  6. 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!

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