When you don't have a lot of money, it can be intimidating to get into investing. You want to be sure you're making the right choices because you don't have any coins to spare!
That's why Level Up is partnering with Jordan Clemons from Kentucky Financial Group on a how to put your money to work for you. The class is Tuesday. March 27th, but you don't have to wait until to get that money know how from Jordan. He's shared his top three tips for investing with us.
Jordan's Top Tips
Do the work to find a partner for your financial future. If you think budgeting/investing isn't your strong suit, acknowledge this and seek the help of a professional. The fact that gyms exist doesn't make you fit, not even buying a gym membership makes you fit. Working with a trainer, now that's how you get those Brad Pitt Fight Club abs. Get a partner and get Brad Pitt Fight Club abs for your finances.
Get over the fact that it's complicated. Everything is complicated. Twitter is more complicated than investing but I bet you figured that out. Commit to understanding the basics and everything else will come.
Look at your current expendable dollars in a different light. Statistically, you have the chance for your invested money to double roughly every 7 years. So a $100 night out on a weekend could potentially be worth $1,600 in future money. Is a $100 night at Garage Bar worth more than a ticket to Burning Man (a personal goal of mine) when you're older?
START NOW! Regardless of if you've read everything Dave Ramsey ever wrote or if you're taking advice from a fortune cookie, start socking away money now. No excuses. Every day you delay is another 10 days you'll have to work longer. Okay, I made this number off, but it can't be far from the truth.
BONUS!!! Tip #5
Enroll in Jordan's Money Smart Millennial class now to save $$$.
Minda is Level Up's Content Maven and Blog Goddess. She has a bachelor's degree in English from the University of Louisville – Go Cards! – and a master of fine arts degree in Creative Writing. When she is not wordsmithing for Level Up, she writes content for startups and she is LEO Weekly's relationship advice columnist.