Investing is a great way to create short term and long-term wealth besides what you may be earning from your regular job. There is no age limit for investment, and you do not have to wait until you retire. You can start investing as young as possible. It is all about making strategic decisions that are bound to result in great returns. It is understandable that younger investors may not be able to access large amounts of capital for investments. However, you can still invest on a tight budget using the following tips:

Save Save Save

Fine you are on a tight budget, but how much money do you have set aside to make any kind of headway in the investment world? You need to start saving as soon as you receive your first paycheck. This is one of the hardest things to do especially when you are not working with a lot of money. Saving is a commitment and you may have to make some changes around your budget in order to do so. You can start by getting rid of high-interest rate credit card and subscriptions that you never use. You can also get into a change saving program using investment apps where any change from your purchases is rounded up to a dollar and deposited in your savings account on a daily basis.

Open a Savings Account

Savings account operates slightly different from normal bank accounts. Savings accounts do not have frequent withdrawals as current bank accounts. This will help you eliminate the temptation to spend the money you have saved. This offers a great way to create a pool of money that you can use in your investment ventures.

Employee Stock Purchase Plan

Some companies allow their employees to purchase stock at a discount from the trading markets. You can enjoy discounts as high as 15% off. If you use pre-tax dollars, you will end up spending even less in purchasing stock. You can speak to an investment professional to advise you when to offload the stock for money. Once you get the returns from these stocks, you will have more money to advance your investing to the next level.

Retirement Accounts

Retirement accounts are a great investment since they will provide for you once you retire, you can also claim these funds earlier and use them for other investments. It is advisable to join a retirement fund as early as possible because the more years you work, the more you accrue.


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