Are you saving $500 per month? Here’s what you can do with it.
Now you’re saving money each month after cutting your expenses and want to know the best way to put it to work for the long run? Keep reading then…
Great job on creating a monthly positive cash flow! You should have your emergency fund set up as well as some extra money saved for short-term cash needs. You should be managing your debts. Knowing your average monthly spending is very important to keep your financial situation stable.
If you have met all of those goals, it’s time to set up your investing plan. You will want that $500 to work for you by investing it.
Good, Bad, or Flat Economy Does Not Matter
Creating a habit of regularly investing your monthly savings is going to help you build wealth over time. Do not worry about the economy so much if you have time to build your wealth. You can weather bear markets and economic recessions if you have time on your side.
How Often to Invest Your Monthly Savings
How about every single month? Remember a 401K plan at your job will automatically invest in your plan each paycheck. Do the same with your private…
