Stressed About Investing? Don't Be!

If you're like me, than you should be worried about your money all the time. Now, I don't mean this in a bad way; you shouldn't over-stress over this! You should, however, always know what your money is doing, where you have your "mulah" placed, and how you are going to make more Benjamin's. If you're interested in letting money work for you, you need to begin by taking a step back and think about what it is you want.

Personally, I hope to become a millionaire at some point in my life, but I know I still need to have a better mentality when it comes to silly spending habits, investing options, and being educated before I invest in something new. Though I need to "wise up", I have made progression from these dilemmas thanks to the constant videos, podcasts, and lectures I explore online. I am not an investment guru, but I am happy that I have been able to begin growing a few accounts - They're small, but you have to start somewhere! Here are some of my favorite tips & tricks I believe in, and what hopefully helps me in getting to my goals easier:

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1. You should think of your money as if it's your own child. Without providing your child (in this case, your money) the best resources possible, they won't be able to grow overtime! When you don't let your child hang out with their friends (in this case, dividends), your child can become lonely!

2. You need to spread your investments across multiple accounts. If you keep all your eggs in one basket, then you're taking the risk of losing it all if something were to happen. Diversity, in general, is a beautiful thing, but it sure can protect you from any hiccups along the way!

3. It might be difficult at times, but try to remain patient with your investments. No one becomes a millionaire overnight.... unless you hit the lottery. Don't expect instant gratification when it comes to investing either.

4. Don't compare yourself to others! This might be one of the most important rules that you can apply because this is what will get you over your fears, habits, and negative mentalities.. Simply put, when you begin to compare yourself with other people, you create a negative perception about who you as a person. This can be similar to going to the gym for the first time, and sitting next to a bodybuilder. You might start wishing you could look like them, but you don't realize the time, patience, effort, and sacrifice it took that person to get to where they're at.

5. Understand that there will always be risks with any investments, including your bank's savings accounts. Interest rates fluctuate, your portfolio could see an annual decrease, but stick with it. Keep investing, learning, and doing what you can to become more acquainted with money.

6. Cut out the spending on things you don't need. If there are things you absolutely need each day, think of how you can avoid certain costs. For instance, I deal with the coffee at my office; even if it tastes bad on most occasions.

7. ALWAYS remain educated in the investments you are thinking of doing, or already have. If you don't know what you're investing in, it would've been easier to just gamble your money away at a casino. If you want to invest in something, but aren't too fond of the details behind it, do you research beforehand.