You shouldn’t have to work hard for every penny that flows into your account. Learn how to multiply your money by becoming an investor.
There are so many ways to invest your money. If you’re looking for a simple way to increase your streams of income as an investor, consider dividend investing.
You’ll earn money every month or quarter just by investing in high-quality dividend stocks. You can earn dividends while you sleep and build a dividend portfolio that allows you to pay your bills and travel around the world.
6. Upgrade Your Savings Strategy
If you find it difficult to save money, you need to leverage technology to make the process easier for you.
You can schedule recurring transfers from your checking account to an online savings account to help you build your savings.
Using an online account reduces the temptation to immediately withdraw funds when an “emergency” arises.
Start by scheduling weekly transfers of $10, $20, $25 and increase the amounts every quarter. If you commit to automating your savings strategy, you’ll be able to easily save $1,000 within a year.
7. Track Your Change
Don’t take any of your pennies for granted.
You should be so focused on your money that you know where every penny goes.
You can either pull out the almighty excel spreadsheet to track your spending patterns or you can download a personal finance app that will record your change for you and show you where the majority of your money goes.