Related How do I invest money if I have a very short amount of income?

Ray Badger

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I have been an investor in the stock market since 1972  8y

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How do I invest money if I have a very short amount of income?

I am going to make suggestions in three areas.

1. If you can invest the small amount of money you have in learning new skills that would allow you to earn a much greater income that would be the best option.
2. People tend to live on about 105% of what they make. People adapt to their income and making more money doesn’t always make a much better life. Take a look at all your expenses and see what you can cut so you can invest more money towards your future. Do you need all those cable channels you watch. Pack a lunch instead of buying one. Take a thermos of coffee and skip the stop at Starbucks. Never carry a credit card balance. Using the money you have to pay off a credit card can be a good choice. One of the sad truths of money is that when you are behind everything costs more. You pay late fees, interest, penalties, and the like and when you get ahead you can take discounts. Sit down and total all your expenses and see what you can cut. Having more money to invest will help you get ahead of the game and will help build your finances for a better future.
3. There are lots of ways to invest that can have a good return. One of the good ways is the stock market. On average over the long haul the stock market has returned an average of 7% a year. There are up years and down years and you have to have patience. When the stock market goes down it isn’t the end of the world it is a buying opportunity. You can invest in one or more ETF’s without a lot of capital and without a lot of knowledge about the stock market or the business world.

Keep this in mind. There are lots and lots of people who have had fantastic incomes and ended up bankrupt and lots of people who had an average income and spent their money wisely and invested and ended up millionaires.