SAVING MONEY SAVING TIPS TO SAVE MONEY, SECRET TIPS IDEAS BEST WAYS
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Saving money through these these basic tips are the best ways to invest in your financial future in Canada or the United States

Money Saving Ideas offer Strategies for Saving Money

Some of you have accumulated a nice little sum in your savings account over the past year, and are tyring to decide the best ways you can invest in your financial futures. Of course, you want to do a good job with your hard-earned money, so have wisely decided to do some research.

You might be like many others ... researching for several months, and letting many investment opportunities have passed you by. Ever wonder how many others are out there, just lke me, investment novices who simply want to make the right choices but get caught up in all the terminology, number games and money-grubbers out there. It gets confusing, but you've still got to decide that the only thing that will help now is to bite the bullet. 

So if you're setting a goal to invest your savings, try keeping a "journal," tracking the steps you take, in hopes that it might clear away some of the confusion for yourself and loved ones out there. Here are the basics that others discovered in the past. They are instrumental, so definitely get these areas under control before you begin to invest your saved money. Here's the "journal" of a fellow money-saver who is passing along her wisdom to you:

Step One: Start saving money. 

I am lucky; I received a very generous Christmas gift last year that I stuck into a savings account at my local bank. Between the interest I have earned from that plus the automatic savings plan I enrolled in, it has been less than a year, and I have saved about $1000 for investment, which puts me far from the high-rollers table, but will get me in the door. I would also suggest trimming any hefty debt you might have before you seriously think about investing. I also took this past year to put in enough overtime that I cut my total credit card debt down to a manageable amount. I believe this is essential, because no matter how much you save, if you're just spending all that money anyway using your credit cards, you are setting yourself up for disaster.

Step Two: Determine your desires and timeline. 

I wish I was investing in the hopes of hitting jackpot and never having to work again, but my intentions are not nearly as glamorous. I will be starting graduate school next year, and by the time I complete my PhD, I will have some pretty hefty loans to pay off, I'm sure. So that's where I want this money to go. I am approximating a good $10,000 by the time it's all over, probably over the course of four to five years. According to the investing consultants at The Motley Fool, the mutual funds I was so interested in might not make enough in that time to pay off the loans in full. In investment terms, looking for turnover in less than five years is rather fast, and good old-fashioned stocks are much more likely to turn the profit you'll need. However, I'm not necessarily looking to pay off the entire loan total at that point in time, just take care of a good chunk of it. Plus, I'm not a very exciting person, so I decided to play it safe and stick with the mutual funds. 

Step Three: Talk to people. 

My father invests regularly, and he has had good luck with both stocks and mutual funds. But the accounts he trades in are far beyond my means. I needed to find options that would work for my budget (I set a goal of saving $1000 to invest, plus an extra $100 for any fees or charges I might encounter.). So I started looking through his investment magazines. I found several mutual funds that I could invest in for that amount, including a few with strong reputations for encouraging social equity and fair labor practices. The world of mutual funds was looking more and more enticing each day.

So that brings us up to today. Saving money and investing it in your financial future should be an exciting experience. By taking your time, all your efforts will be worth it in the end! 


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SAVING MONEY SAVING TIPS TO SAVE MONEY, SECRET TIPS IDEAS BEST WAYS
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I found several mutual funds that I could invest in for that amount, including a few with strong reputations for encouraging social equity and fair labor practices. The world of mutual funds was looking more and more enticing each day.


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