It is never easy to make money. There is lots of competition in any market where money is available to be made, so you have to work harder than the rest if you want to come out on Top.
Then once you make some money, it’s tempting to just let it sit in a savings account as you actively try to earn more. Bad strategy.
The Big Q: What if the money you have made could work for you, earning even more going forward?
The Big A: Investing, as it’s a strategy to consider as part of your overall approach to money management
The expression ‘making your money work for you’ means nothing more than attempting to use your money to make more money.
This is in contrast to a typical labor arrangement, where you do some kind of work in exchange for money.
Using your money to make money is a little different. Rather than working, you pick an area to invest money you have already earned in the hopes that more money will be returned to you at a later date. The possibilities for investments are nearly endless.
Also, it’s a good rule to only go into investments with money that you can afford to lose. Even relatively safe investments do carry some degree of risk.
We explore those ideas daily on LTN tune in daily.