Stop thinking about it and Do iT! You deserve it, and you can afford it. Stop telling yourself that you don’t have $$$ or you don’t know how to invest in stocks. This is the month of money for us all! One way or another money is finding its way into our communities. Let’s do ourselves and our families justice by making good use of our new money by turning it into old money.
How, you may ask! Glad you asked! First, read your local and national/international news. Be mindful of what’s going on around you. By doing this you stay in the know. For example, right now many investors are relishing in the pending stock splits coming at the end of this month. MESSAGE! Did you get that? Stock splits coming at the end of this month. Check it out for yourself. Yahoo!finance is a good source of identifying stock to purchase/invest/trade. Just keep in mind, if you’re investing, only use money you can do without for some period of time.
Do yourself and your money justice by researching those things you’re interested in. For example, if you use Colgate toothpaste, consider investing in that company. Look for the benefit to yourself. If you invest $100 and the stock is trading at $25 per share (for example) and the stock increase by $1, then your stock will then be worth $26 per share. If you buy 10 shares at $25/share then that $1/share increase will give you profits of $10.
Is that $10 overall profit worth your time and effort? Is it worth holding your money out of your savings account where you might be earning a .05% rate of return. Do your math for yourself and decide whether you can afford the investment. You may find that buying stock weekly, monthly, or annually can be of greater benefit to you overall than merely placing your money into a savings account.
If you’re a savvy investor then you may invest in more than savings, stocks or real estate. You may consider savings bonds, or CD’s, or no-penalty CD’s. Marcus.com offers great ladder CD’s. It’s a way to stack your coins and have collateral in time of need. Talk to your elders, ask them questions about their personal finances. Don’t be afraid to ask them how they made their money or how they grew their money.
-Sojourner Doc
