Hey there guys! All right so today I want to talk about...yup you guessed it money! I just want to give you a couple of the tips that I use on the daily so that I can make sure that we have something incase we ever need it. I hope that these tips work for you guys and that you are able to put them into practice.
All right here are a few tips for you. If you are new to saving then this is might be the easiest tip I can give you. Okay, are you ready? Open up a checking and savings account with a bank. Let me explain, you open the accounts and then you put the limit needed for the account and set up a transfer that occurs twice a month to start in the amount of $25. That is $50 that gets put away automatically and you don't have to worry about it after that anymore. What I do is have it transferred every week. This is probably the simplest way to get your savings to build up and do not and I repeat do not touch your savings unless it is an emergency like your car broke down not I need those new shoes. If you take the money out enough times then you end up turning your savings account into a checking account because of the withdraws.
The next tip I can give you is if you are not new to saving then and can control your spending then open only a checking account and put everything in it and stop spending when you hit a certain amount. I do that for us we stop spending when we hit our allowance for the month so that we can control the shopping we do. Now, we have a savings account and I do the transfer but we also do this to help us save more. For my last tip it is more so for the people that are already on a roll with their savings but want for their money to do more for them.
That is, investing in stocks or property or something. I think that this is a great way to get your feet wet and really get in the groove of the market you are going into. I invested in stocks through Robinhood and it has been awesome. I have learned a lot about the stock market and I am even making a little money off of it. I think this app in particular is one of the easiest to navigate because it makes it so that you start off with 1 free stock when you sign up and then you set up a deposit for the amount you want and the timing schedule that you want and then you just buy the stocks that you want. Now, I do not trade with thousands of dollars I just buy what I can. I have stock in Disney as well as other companies. I always take the time to look through it and read up on the latest business news. Keep in mind that if you sell stock then you can make some money and you can always money back by selling stock and closing your account.
I hope that these tips helped and I hope that you guys can some of these tips. I also hope that you are all being safe and staying healthy out there. Till next time guys!