small investment

Although dabbling in small investments and new investment ideas doesn’t require a lot of money, it does require some financial healthiness and responsibility. Before you even consider how to invest with little money, you should first ensure your financial health in two ways: Trying to jump on the best investment ideas without first building an emergency fund is setting yourself up for failure, Paul Moyer of SavingFreak said. “As soon as a bad financial situation pops up — a car repair, or a medical bill, etc. — you are going to turn to that investment account to make up the difference.” Don’t sabotage your investments by failing to have an emergency fund. You should also pay off all high-interest credit cards. If you have limited resources, your cash is better put toward paying off credit cards that charge high interest rates before you start investing. The biggest decision you have to make is your tolerance for risk,” Moyer said. “If you are investing for the long term — more than five years — then you can stand to take a little risk with mutual funds, ETFs, etc. If this is a short-term investment or you cannot afford to lose the money, then you need to look at something much safer, such as CDs, money market, or high-yield savings. 94038
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