It took me a long time to understand exactly how to make money with the stock market. So let me share my understanding with you.
The goal is to find good companies.
Then decide the price you are going to pay for the good companies.
Then the companies pay you dividends out of their profits.
Then you sell the company at a higher price than what you bought it for.
So yes, it is a little more complicated than that. However, on this challenge, we want to show you how to use the stock market to grow your wealth. You can take advantage of investments to build savings.
INCREASE YOUR SAVINGS
Ever feel pressured to make money with a business and you have no idea what business could you start to earn additional income?
No worries.
http://https://www.youtube.com/watch?v=Im4JadHe7ps
Tip #1 – With as little as $100, you can open a stock market account and buy into other businesses.
Tip #2 – Then for as little as $50 a month, you can grow your account.
So you can actually grow your wealth and your savings in one go.
Tip #3– The New York Stock Exchange has over 14,000 businesses for you to choose from. And if you are a global investor, then there is the Toronto Stock Exchange, the London Stock Exchange, the Dax in Germany, and the Jamaica Stock Exchange (which you can invest in, even if you are not a citizen).
You can profit from buying another person’s business.
That is how you build your career as an investor.
Now, what is the point of saying this? Well, building a business from scratch is always harder than buying into an existing company.
Tip #4 – And the stock markets around the world allow you to buy 1 share of any company. That means you are not under pressure to have a lot of money to build a portfolio and grow your savings.
Tip #5 – And you profit in two basic ways:
✔ (1) you get a portion of company earnings in the form of dividends and
✔(2) if the stock price goes up, you can sell for a profit.
Ah Ha!!! You may be saying that stocks can go either up or down.
That is true.
Tip #6 – However, there are at least 41 different stock categories and 7 ways to recession-proof your portfolio.
Tip #7 – And there are strategies you can use to actually protect your money in the event of a market crash.
So when you are ready to MULTIPLY your money SLOWLY and increase your savings, the stock market is an option to consider. You can take advantage of investments to build savings.
REDUCE YOUR DEBT
Now, how are you going to reduce your debt in this part of the challenge? Well, you would have first validated that the debt you owe is actually yours. And then you would ask the financial institution to verify that you owe. Why? Because you don’t want to pay for debt, interest, and fees that don’t belong to you.
Tip #8 – Now, the question is how do you ask the financial institution to verify? Well, given the seriousness of the impact on your credit report, email is not the way. You must write them a letter and send it in the mail and then send it in the email. In this case, SNAIL MAIL retains its relevancy in our life. When you are writing for clarification on what you owe, better you use registered mail so that you can be sure that SOMEBODY signed for your document and that you can track it.
So the takeaway for this challenge is to build out your investment plan and get your debt verified!!!
