Personal Finance Tips For Beginner Investors

Mar 17, 2022
Money Saving Tips


Did you know that more than 50% of all households across the U.S. are invested in the stock market, in some shape or form? That's an impressive figure, considering what we have all been through as a result of the pandemic and the impact it has had on household income across the country.

If you need personal finance tips, you'll want to keep reading.

 

Firstly, Why Should We Invest?

 

Simply put, we need to think long term about our future. If we do not invest now, what will we have in the future?

Investing can be extremely daunting if you do so uninformed or haphazardly. The first of our personal finance tips that we can offer when it comes to investing, is to take a careful look at your finances before you even consider investing any of it.

 

Take A Careful Look At Your Personal Finances

 

Before you consider investing any of your hard-earned cash, first take a careful look at your own finances. You should have a good understanding of where all your money goes and what debts you may have outstanding.

Part of this process should be to look at your financial goals, your cash flow each month, and if you have an emergency fund set up for those rainy days. You don't want to find yourself investing all your leftover budget when you don't have any finances available in the event of an emergency. Always have an emergency budget!

 

Learn To Have Self-Control

 

When it comes to investing, self-control is key. Instant gratification is firmly embedded in the youth of today, so we cannot express enough the fact that you need to have self-control when it comes to your finances. Do you really need those new shoes or that glamorous holiday abroad? While it's important to enjoy life, try to find experiences that don't make a major dent in your wallet. Rather invest that money. You'll certainly benefit from the reward as that investment matures, allowing you to take the holiday of your dreams in the future.

 

Take Advantage Of Retirement Accounts

 

The majority of people in the U.S. take advantage of their retirement accounts to invest. Not only are they easy to contribute to, but they offer plenty of tax benefits. Make sure you automatically contribute a portion of your paycheck to a workplace retirement plan, such as a 401(k). It's best to contribute between 15% and 20% of your gross income each month. While it may be tough at first to put this much away, the future you will most certainly thank you for it.

While the easiest way to invest is through your employer's retirement plan, not everyone has access to one. If you're in that boat, consider opening either a traditional or Roth IRA account so you don't fall behind in saving for the future. If you are unsure of what these two accounts are, here are the differences.

 

The Differences Between a Traditional IRA Account and a Roth IRA Account

 

A traditional IRA account offers a tax break when you make contributions. However, in turn, you'll pay taxes on the money in your account when you begin withdrawing funds.

With a Roth IRA account however, it is just the opposite. You won't get to take an upfront tax break for your contribution but the money you've saved will grow tax-free. You can then withdraw it later without paying any taxes on your investment earnings.

 

You Don't Have to Be An Expert

 

We can't be experts in every aspect of our lives. When you are ill, you consult with a doctor. When your car breaks down, you call your local mechanic. The same can be said of investing. Learn from the financial experts and let them guide you on how best to invest your money. If you don't have the budget to have an expert on speed dial, consider allocating an hour or two each month for a check-in session and to discuss potential investment avenues. There are also plenty of online platforms that can assist you with your investment decisions.

So, there you have it. A few simple personal finance tips that you can use to begin investing your hard-earned money.

 

Quick Access to Cash When You Need It

 

There are times when we all need access to cash, quickly. At Rapid Auto Loans, we have helped thousands of Americans secure car title loans fast, with a flexible 12-month repayment period, and an understanding 10-day grace period. Why not take a look for yourself?

Contact Rapid Auto Loans at 954-960-7097 to learn more about what we can do for you.

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who should consider a title loan

Emergencies and repairs are usually unplanned and completely unexpected. That can leave you vulnerable to unpaid debt, or it could prevent you from getting the help you need. When you need fast cash and your paycheck isn’t for another two weeks, or it won’t cover the cost of your expense, a title loan could be your solution.

car title loan

Are funds running low and you’re in need of instant cash? Then you may want to look at applying for a car title loan. We live in a world where poor credit history or a low income makes it nearly impossible to get a loan. With a car title loan, none of that matters!

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At Rapid Auto Loans, we offer title loans online to those looking for ways to get emergency cash when they need it most. Unlike a payday loan, this loan uses the vehicle’s value as an exchange for funds. We never look at your income or credit score to provide these loans. Ultimately, the amount of money you can borrow with title loans online will depend on the value of your vehicle. The average loan from Rapid Auto is $2,000.

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It can be very common for your credit score to be lower than you’d like it to be if you’ve paid your bills late in the past or have a lot of debt. Bad credit can then put you at a disadvantage when it comes to getting approved for loans in the future. Rapid Auto Loans is here to help you and will approve your loan when nobody else will.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.