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For those that are just starting out and looking for the best way to make their money grow, learning how to save money is the best investment strategy for most people. While saving money is often looked upon as the ugly duckling of the personal financial world and arguably the the best low risk, high return investment that you can make, setting up a plan to put it in motion can be difficult for many. Here is a beginners guide to ugly duckling investing for those that want to take advantage of this investment strategy.
There are a couple of basics that already need to be established to undertake this investment strategy. You need to at least know what you are currently spending (ie - have a basic budget) as this will allow you to look for areas where your current expenses can be cut to save money. You also need to realize that cutting expenses doesn't equal saving money.
Step One - Set Aside A Set Amount Of Time: The first step is to set aside a specific amount of time that you will dedicate to this investment strategy. While it may take more time in the beginning while you are getting used to your new habits, it will still take much less time than trying to learn a completely new investment strategy. If you can set aside 2 to 3 hours a week, you'll have plenty of time to maximize the ugly duckling investment strategy to the fullest.
A stock investor reacts at a brokerage house in Fuyang, in central China's Anhui province. Chinese stocks extended last week's slump Monday, led by banks on concern that plans by 12 companies to issue shares this week will dilute markets. THE ASSOCIATED PRESS
TORONTO - The Toronto stock market started a fresh trading month with a solid advance Monday as commodity prices ran up smartly and new data made investors feel better about the American economy.
The S&P/TSX composite index surged 218.3 points to 11,312.61. The Canadian dollar was up 0.61 of a cent to 94.13 cents US.
Investors were encouraged by the U.S. Institute for Supply Management's manufacturing index for January, which came in at 58.4, showing stronger expansion than the expected reading of 55.6.
