When you are first starting to make some money from your job you may be inclined to start buying a lot of unnecessary things. But the best thing you should do after all your bills are paid is to start investing in something. So I am going to help you start investing a little bit each month.
Experts think you should aim to put away about 15% of your pretax income into some type of investment. In this blog we are going to speak in percentages because that is the best way to generalize a lot of the information.
There is also this rule of 50/30/20. This rule states that 50% of your income should go to your bills and needs. 30% should go to fun things that you want to buy or do. And the last 20% should go to your investment or savings account. This helps you stay on track so you will have something when you retire.
The other best way to invest is to use your company’s 401k account. If you are lucky enough to have this you should take full benefit of it. These pre tax accounts will launch you miles ahead of others who are investing at all. Make sure you at least contribute enough to get the max from your company.
Overall when you are thinking about investing, always look far ahead in life. Of course it is impossible to completely plan out your life. You should aim to plan at least somewhat in the future. If you do that your future self will thank you.
Lastly I will say make sure that you have a budget to follow. This will keep you in line with your financial goals for now and the future. More content will come in the future on investing and the overall topic of what to do with extra money.
Rob’s Opinion
I hope that you have gained some great information from this post about earning money Blogging. If you have any questions please comment them down below and I will do my best to answer them.
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