Saturday, June 2, 2018

Why You Should Invest Even When You Are Broke

Why You Should Invest Even When You Are Broke

If you’re “broke” the idea of investing may be far from your mind. But then again, it may be this mindset that’s keeping you broke.
When it comes to how fast you’re able to build wealth, it’s not all about your savings rate.
So, why invest if you’re broke?

Investing has to be taught. Then investing becomes a habit. 
The earlier you start that habit — the easier it will be to continue and the more wealth you can build.

Once you have the necessities taken care of (food, shelter, clothing) — what exactly are your next priorities?
The question to ask yourself is: What can I do today that will have the greatest long-term impact on my wealth?
Your goal is to look for the action that will have the greatest long-term benefits. For example, maybe “broke” to you means having a zero net-worth. You’re out of credit card debt but can’t climb above a zero net worth.
Broke for someone else may mean $10,000 in high-interest credit card debt and thousands more in overdue bills.
The goal is still the same — determine the best “investment” today.
What are your options?

Remember the question: What can I do today that will have the greatest long-term impact on my wealth?

Making a monetary investment is sure a smart move. But the best investment may be as simple as investing in yourself.
Warren Buffett, the greatest investor of all time, has said:
“Ultimately, there’s one investment that supersedes all others: Invest in yourself. Nobody can take away what you’ve got in yourself, and everybody has potential they haven’t used yet.”
This doesn’t have to mean going into debt. There are many ways to invest in yourself with little or no cost.
The investment can be as simple as starting a home business or as even setting aside some time to learn a new skill.

When I decided to start a home business, I was on a once-a-month fixed-income. I would literally take my monies after all my monthly bills were paid and invest the rest in small businesses. Now today, I literally have an UNLIMITED income potential for only $1.80 a day!

So, starting or running an online business does not have to be costly or expensive.
Ultimately it’s your skills that’s going to get you from broke to where you want to go.

Bottom line, the reason you should invest even when you are broke is that you don't want to be broke forever, right?
So, what can you learn today that will have the greatest impact on your wealth?
Did you enjoy this and get value? Please share on Facebook.
Dedicated to your success,

Miss Carla

No comments:

Post a Comment