If your saving more money could be
Small amounts for investing.
If for instance that in a day, you can only save for at least few dollars like even more or less $5 per week, for the whole year you’ll get more or less $260.
Build up an emergency fund.
Promise to yourself.
You must promise to yourself that you would have to save for every transaction value you will face in less than %2. And your money should be put on a savings account; you may use it if you found an opportunity to invest.
Tips for a $20
You may invest it directly to a Dividend Reinvestment Plans or Direct Stock Purchase Plans. In this type of investing, you really need to have brokers as you will purchase the stock directly to the company. But not all companies are offering these and there are many companies that you may deal for without brokers.
Look for mutual funds.
There are some mutual fund companies that allow small investors to buy. But in this case, you must agree on the automatic investment plan. They will deduct a fixed amount on your bank account every month. This is in addition to the minimum investment initial.
Tips for a $500
Discount brokerage account.
Brokers really don’t offer their services as a full-broker and some them even allow you to buy individual companies and some of the accounts are requiring initial deposit.
Tips for a $1000
Follow above-mentioned tips.
If you think that you can save $1000 a year, you may still follow the tips that we had given from the above, but in this case you should take a retirement account.
Quote of the day:
Your saving goal must not be cheated. This is when you tend to save a bit of money per day or week; you shouldn’t take the money and make use of it for buying or for your transportation. What you save is what you save. This is the main goal for maintaining a good savings. If you will continue to use your savings, you won’t earn.
In investing in individual companies you should purchase directly in the company, as there don’t need a middleman, and you work directly in the company that issues the stock.