Jul
01
What is the best way to save money for a big investment ?
ByWhats thev best way to save money for a big investment like a house down payment. Any useful ways of saying money so i dont spend it as soon as i get my pay check ?
The best way is to pay yourself first. Decide how much you want to save from each paycheck and put it into the bank first, then live on what is left.
An amusing book on investing for a novice is The Richest Man in Babylon.
http://www.amazon.com/Richest-Man-Babylon-Bestselling-Financial/dp/1615890149/ref=sr_1_8?ie=UTF8&qid=1308797818&sr=8-8
3 Comments
July 1st, 2011 at 1:35 pm
I have an automatic investment plan setup. Every month, $400 is taken out of my checking account and then it is transferred to my Roth IRA. Then it is invested into mutual funds I picked.
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July 1st, 2011 at 2:16 pm
The best way is to pay yourself first. Decide how much you want to save from each paycheck and put it into the bank first, then live on what is left.
An amusing book on investing for a novice is The Richest Man in Babylon.
http://www.amazon.com/Richest-Man-Babylon-Bestselling-Financial/dp/1615890149/ref=sr_1_8?ie=UTF8&qid=1308797818&sr=8-8
References :
July 1st, 2011 at 2:39 pm
One way of saving money is to buy the things you need in the sales or second-hand shops. It’s worth waiting a few weeks or even months for a large purchase at a much reduced price. Check online for cheaper prices too and you could save 10-20% or even more.
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