Stop Selling Yourself on Why Not!: Lessons I learned the hard way about life, health, money, leadership, and the military, so you don’t have to. by Oliver S.J

Author:Oliver, S.J. [Oliver, S.J.]
Language: eng
Format: epub
Published: 2020-05-14T16:00:00+00:00

Invest in your savings STEP 1

T his section differs from the one before it (greatest investment you could make) despite the fact that they both involve planning and achieving goals for your future. Where in the previous pages, I talked about investing in yourself, now I am going to discuss investing monetarily, starting with income and savings steps. This upcoming scenario will be an example most typical of, and most beneficial for individuals with little to no debt who are in the age range of around 18 – 25. If you are older, the principles will still apply.

I’m going to keep it very simple, and very basic because:

1. I’m not a professional financial advisor

2. I am simple and basic.

There are numerous finance and investing books out there as thick as your arm, but we are going to stick with the straightforward options for building wealth. Do I love to dabble in the stock market dailies? Yes. If you want to lose money quickly, then you can try your hand at day trading, but I highly recommend you not open that bag of worms until you have enough money to burn. No, I do not have enough money to burn.

Let’s start with the first step, your bank account.

1. Checking Account: How much money do you have?

Start by figuring out your finances. How much money do you actually have? Let’s break it down. Put your incoming in one column, and your outgoings in the other. Below is a very simple example based on monthly figures that you can copy. We will assume that you are an individual paying down school debts for this scenario, as many do but will address debt as a subject matter later.

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