One of the myths about why there are not many women engaged in trading and investing is because they are scared of taking action in “men world of finance”. In true they are scared of not knowing what to do, how to start. As a woman trader started from zero and becoming a millionaire, I know that fear is not what is holding women back from investing. The most important reason is their limited budget.
The old saying that it takes money to make money is true, and for those living paycheck to paycheck, there often isn’t enough money left over to put towards investing. The fact is if you don’t put money away for later years, you will face a very difficult future. Just imagine, if one day, you won’t be able to work and you will not have money to live on… So what can you do to escape such catastrophic situation in future?
To reach any goal, you need look for opportunities, not for excuses. Financial freedom comes to the persons who take control over their finances — It’s a golden rule of Universe. My advice is not new, but it works. Follow 3 easy steps to change your life and take control over your financial future:
1. One of the best thing you can do for yourself is to develop a habit of saving part of your salary or other income. Savings today are guarantees and possibilities of tomorrow. Beginning today first of all take 10% of your income to save. You can save even more or if 10% seems to be a big amount for you, start with 2% or 4% and increase it every month. Make every dollar count! How often do you go to fast food restaurant, how often do you buy snacks? What if you cut out even small part of those expenses each month, netting you an extra $100 per month? At the end of the year you will have $1200. Yes, it does not seem like much to get started, but anything is better than nothing, and it can make a big difference in 20 years.
2. Start a special account to save 10% of your income and pay it with the same respect as you do your mortgage. Be disciplined — its your key to success. And never touch your savings, except of investing.
3. Start investing as soon as possible, as soon as you will accumulate enough funds to join the investment program you like — do it! If you are just saving, not investing, you will never become wealthy, because inflation will be eating your money day by day and year by year. The magic formula is saving + investing = financial freedom.
To reach a goal you need to make a first step — do it now!
Originally published at medium.com