How to Start Investing With Your Pocket Money - Dave's Wallet

How to Start Investing With Your Pocket Money


Investment is very crucial because we need money for everything. Smart people invest their money in stocks, gold, and properties to make extra money and achieve financial freedom.

Fortunately, you don’t require a whole lot of cash to start investing. You can start really small and watch your investment grow into an empire. Here’s how:

1. Set Goals

Just thinking about getting rich and all the benefits that come with financial freedom are not enough to keep you on the path to success with your investment. You need real goals to keep you motivated and focused.

For most people, sending their kids to college and retiring comfortably are the primary goals when venturing into investment. You can even throw in a few “selfish” goals like buying a yacht or owning a luxurious cabin in the mountains. Make whatever it is that you desire your target and work as hard as it takes to make it a come true.

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2. Find your Starting Capital

The notion that you need a large amount of money in order to start investing is very far from the truth; so don’t just give up yet. You can start by saving a few dollars every week by cutting back on a few unnecessary luxuries. You’ll really be surprised to see how fast those few dollars can add up over time.

3. Choose Investments Wisely

There are very many ways in which you can invest your money. Take time to consider your options and go for something that falls in line with your goals, and risk tolerance. Investing in shares and properties might be ideal for long term investment plans while cash and fixed interest investments are perfect for short term investors.