How investing $1 per day can change your life
There are a multitude of reasons and excuses that many of us give for not investing. Whether we are strapped for cash, have bills to pay, whatever the reason, it is amazing how simply investing one dollar per day can change your life.
For those that are younger we have an investors greatest asset on our side - time. We use the power of compounding returns to grow the money we invest today over 10, 25 or even 50 years. However, you don’t have to be young to still realize the amazing effect that compounding has on your money.
The financial impact of your cable bill
Study after study has shown the huge amounts of time that we spend watching television. Aside from the negative social implications that many believe TV holds a large responsibility for, there are significant financial impacts that this leisurely habit has on our lives.
The benefits of setting a daily budget
All the little things really do add up. It’s easy for our daily lives to silently nibble away at our money. One soda here and there, eating lunch out everyday, buying a lottery ticket every once in a while, they all quietly add up to a significant amount of spending at the end of a month.
I’m sure that many of us would be amazed when we look over our bank statements to realize how much we actually spend every day. For many of us, it is those little things that prevent us from saving or investing and leave us at the end of every month wondering “Where did I spend all my money?”
What’s your income per minute?
Most often when we refer to the income we make we break that down into yearly, weekly or hourly. By breaking down what we make into a smaller time period, we are left with some interesting results. We are going to assume that we work 40 hours per week 50 weeks each year for a total of 2,000 hours of work per year.
The importance of investing when you’re young
It’s amazing the importance and impact that investing when you are young has on your future. It is unbelievable how much the little investments we make now can sculpt our future 20, 30, 40 or even 50 years from now.
It doesn’t matter how much, as long as you are investing
There are a million reasons and excuses that we make as young people to not invest, bills, credit cards, car payments, the list goes on and on. What really matters is that we start investing at least something when we are young, the amount you invest is up to you.