Banking Blog

Busting Investing Myths Series

2) I need a lot of money to start Investing

Regular response on why people don’t start investing is that they are not rich and doesn’t have enough money.

Reasons why you should not invest

1. You have High-interest Debt ( More than 3% per yr)
2. You don’t have Emergency Fund of 3 Months
3. You have short term goals such as buying a house, Kids education, wedding etc
4. Your monthly expenses are more than your income

But not having a lot of money is not a reason. There used to be a time, you need more money, dedicated money manager to invest, Not anymore. At this time of ETFs and Commission free purchases, You can start investing as little as $25 per month. Start investing when you earn less So that you won’t get caught in lifestyle expenses when you start earning more later.

Remember little drops of rain makes an ocean

Read about all 7 Investing myths