I had an awesome teacher that taught me that I should pay myself first. The saying was 10% is mine to keep.
If you don't invest in you, no one else will. If I am able to accomplish anything with this blog, it will be to hammer this point in. Try to put 10% (or more if you can) up for you.
I currently put 5% into my 401K (because that is the maximum that my employer will match) and I try to put more into one of my other accounts.
If you have a small business, now is a time to build your business by hitting the pavement and getting the word out about your business. That is exactly what I am about to get ready to do. I own a small business that encompasses online auctions, classifieds, PPC, custom websites, online advertising and a few other small sections. Over the next few months I will be redesigning a few of my sites, buying a few more, and getting the word out about my custom website business, (my best division!). More updates and links to come about my businesses. I wanted to keep this blog seperate from my businesses, but they tie in so well. I promise to not turn this blog into one big ad for my company.
UPDATE on investing
I forget to turn on my investing account for this last week to buy stocks. It actually worked out because the market fell tuesday and wednesday. I was able to purchase some stock today during a sell off but will be buying more later next week, so that is when I will disclose everything I did.
I also put a deposit of $150 into my Spain Fund!
These last few weeks have been a wild and crazy wild ending with a lot of pain for many people. I couldn't be happier!
I am only 24 years old and have many years to build a winning portfolio. I had a pretty good portfolio already with great stocks like GE, MSFT, MCD, AXP, KO, T, and BP. I had a few laggers like FNM (that I bought on the way down) and SIRI. I even made a small profit earlier last week, I had a small position in NAPS and BestBuy decided to buy them. I sold my shares for a nice little profit. If you notice most of my stocks have a nice dividend. Its like these stocks pay you to own them, I Love it!
I am in the process of selling some stocks that I think are unhealthy and I am purchasing more Great Stocks at a Huge bargain. I suggest that if you have a few hundred bucks somewhere to do some research and buy a great company in the bargain bin. Again, I really like dividend paying stocks here. I should be done buying next week and I can share with you what I did, and you can decide if I am a genius or a loser.
My 401K looks like crap but don't forget, I still have a lot of work left in me and everytime I get a check in this crummy market, I am getting shares at a discount thanks to my 401K. I had previously (6 months ago) moved most of my 401k distributions into safer areas like bonds. I actually got lucky there, but I'll take it. So I have lost considerably less then my co-workers. I now have 4 savings accounts. One in my 401k, at 2 credit unions, and on Paypal.
I think that we have seen the last of the major pain, the Stock market will still have some down days but not has severe as the last few sessions. One exception, if there is a huge rally I think that there will be a sell off the next day because people will use that time to get out of the market and take some profits. That is perfectly fine but it will make the stock market look volitile.
*Disclaimer I am not a trained professional. Please discuss all financial movements and stock purchases with your financial advisor.
Stock Term Defined:
A security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETFs experience price changes throughout the day as they are bought and sold.
If anyone is planning a trip or vacation we all know that it is a huge ordeal. You have to pack, get tickets, hold your mail......etc...
One thing just got a little easier, getting tickets. Everyone has heard of Expedia or Priceline but has anyone ever heard of Westbay Travel. They are another place to compare prices to make sure you are getting the best deal. Also, they are another way for you to make money.
Everyone knows what I am all about making money and trying new ways to make money. WestbayTravel.com has a way for people to make money buy giving them their own website to promote. From what I hear a bunch of college students are making money from this site also.