When it comes to investing, some people claim that they don’t have enough money to invest. They are most likely wrong. Can you put aside $3.33 a day? Thats $100 a month. Is $100 a month enough money to invest? Yes!
Here are some places to look for money to invest. Do you go out for lunch everyday at work? Trying bringing a lunch from home. A trip to McDonalds can easily cost $5. Multiply that out by number days you eat out. That’s money to invest! David Bach in his book The Automatic Millionaire, calls this The Latte Factor. All those little things can add up to a lot of money to invest!
And if your company offers a 401k plan, and you aren’t taking advantage of it, you are throwing away investment money. The government wants to give you money to invest! Let’s say you take a $100 and blow it on fast food. You may have had to actually earn $140 to pay for that $100 in food! Why? Because before you got that $100, Uncle Sam to his share. But what if you stuck that $140 in a 401k? Uncle Sam lets you keep that $40 for now to invest. And it even gets better! Most companies offer 401k matching. The company I work for matches half up to 6%! If yours does, and you invested that $140, your company would add a match of $70! So now you are investing $210! Is $210 a month enough money to invest? Thats $2520 a year! And that was only from $3.33 a day! Who much more money can you find lying around to invest? We all waste some money. Do you drink bottled water? Bottled water is expensive. Is it really that much better than tap water? You have plenty of money to invest, you just need to find it!