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| Finding Cash to Invest: It's Easier Than You Think |
| Finding money to invest can be tough, especially when it's hard even to make ends meet. If you're like most of us, once you've paid your monthly bills, there isn't a whole lot of paycheck remaining. And let's face it, nobody wants to budget. |
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| But there is one simple thing you can do to ensure you invest more money: Pay yourself first by having your company deposit part of your paycheck into a savings or money-market account. Use that money both to invest and grow your emergency fund. It's easy, and once you've set it up, you don't have to think about it. In fact, after a paycheck or two, you probably won't miss the money. |
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| Another painless way to increase your investment stash without living like a pauper is to invest any found money, such as bonuses, gifts, and inheritances. While you might be tempted to use found money to splurge on a new guitar, shoes or weekend getaway to Vegas, you'll be better off in the long run if you save it. |
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Of course, there are other ways of squeezing a few more investment dollars from your check, including:
- Paying off your credit card debt.
- Refinance your mortgage at a lower interest rate.
- Buy a used car instead of a new one.
- Don't buy stuff on impulse (instead, put a list together of the things you need and stick to that list when shopping).
- Bring a lunch from home instead of buying it from somewhere else.
A financial planner can walk you through additional ways to make your paycheck last longer and can help put you on track to a more comfortable, and financially stable retirement.
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