Wk9DQ4 - to your investment plan. If these lump sums are...

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According to section 11.1.3 in Personal Finance two ways to begin putting money aside for investments are to pay your self first, you should take it right off the top of your pay check at the beginning of each month. If a person waits until the end of the month to invest what is left over, the funds may no longer be there. Another way to begin putting money aside for investing would be to set aside bonuses, tax refunds, and other lump sums you receive. You can immediately apply bonuses and other lump sum windfalls such as birthday gifts, tax refunds, and inheritances
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Unformatted text preview: to your investment plan. If these lump sums are fairly significant amounts, the dollars can accumulate quickly. One tip or idea that I have learned to save a little extra money, is to always use dollar bills (not change) at the end of each day put the change from your pocket or purse and put it into a jar; at the end of the month take the change you saved to the bank and deposit it in to a savings account of some sort, preferably a high interest account. You will be surprised on how much you can save in a month with just your change....
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This note was uploaded on 11/21/2011 for the course PERSONAL F 101 taught by Professor Agnew during the Spring '10 term at University of Phoenix.

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