How to Find Money to Invest
- 1). Write every purchase, no matter how small, in a notebook you carry with you. Keep a small notepad in your pocket or purse, and use it to record everything you buy during the course of a day.
- 2). Make a list of those purchases and review them at the end of each week. Circle the purchases that were nonessential, and add up their costs.
- 3). Keep copies of all your receipts in a special envelope. Use those receipts to fill in the gaps in case you forgot to record a purchase. Add up all of your nonessential spending and vow to dedicate at least part of that money to saving and investing.
- 4). Pay yourself first by treating your investments as just another bill that must be paid, just like the electric bill or the mortgage. Take the total of your nonessential spending and set up a transfer for that amount from your checking account to a savings or investment account. Better yet, set up your direct deposit to send a portion to your savings account and the rest to your regular checking account.
- 5). Invest any extra money you receive, including bonuses, overtime pay and gifts, immediately. Investing 100 percent of any windfall will help you develop the discipline you need to keep investing for a lifetime.
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