If you are like most of us, there is a good chance that you grew up with the misconception that just because someone had a lot of nice stuff, they were probably rich. Not to burst your bubble or anything, but this isn’t always the case. Sure, there are those rockstars and famous actors who managed to keep their fame and fortune…and private jet. However, the majority of people who manage to make millionaire status do so by also rocking a minimalist lifestyle. So how do these little lifestyle changes allow for additional money flow and what can you do to begin incorporating them into your life for a little more moola? Well, lemme tell ya…
With the new year fast approaching, taking an inventory of your financial well-being can shape how you look at future years to come. Analyzing the progress you’ve made, whether it is building up that savings account you opened or hacking away at your student debt, are wins you should take pride in! There are also areas you may have stumbled, maybe you had to take money out of your savings account or you used your high-interest credit card a bit more than you would have liked and those balances are a little too high. These roadblocks happen, life happens, a pandemic even happens; you assess the damage to your progress and go from there.
Investing is a scary word for most people. Because of the fear it strikes into our hearts, this often means that most people don’t take advantage of it beyond 401Ks (sometimes not even then). That’s why Ksenia Yudina, former financial hotshot — I guess now an even bigger financial hotshot — started her own app that helped parents start investing for their children. No complicated process necessary. In fact, with her new investment app for kids, you can create a successful investment plan in less than 5 minutes based on the age of your children and your financial goals.
Investing is a scary word for people and I totally get it. There’s so much to know, so many numbers and terms and types of ways to invest. How can a minimalist lifestyle make start investing a little less overwhelming and actually help you be better at long term investing? Well, lemme tell ya.
Investing has always been something that made me nervous. It all seemed too complicated and far beyond my math comprehension. Technically I shouldn’t even be worried about investing right now because we are still working to pay off our debt. However, there is an investment app that just seemed too simple to pass up. Acorns is a spare change investment app that rounds up your purchases to the nearest dollar and then invests that money for you! If you have wondered as long as I did about how Acorns work and whether or not it’s actually worth it, I have it all laid out here for you. Plus, I will show you my personal slow-start simple investment plan to turn $50 per month into $150,000.