Synopsis
When first starting out in investing, most people will not have an existing asset base to leverage against. The first step is to find enough money for a deposit on an investment property or for your initial purchase of shares or managed funds. Part one of this two-part article looks at why someone might be wanting to save money, what cash flow is and why it is important, and some tips on how to start saving. The article also investigates the painful weight of credit card and other personal debts, and some ideas on where to start with debt reduction.
Contents
- Synopsis
- How to start saving; Budgeting; Credit Card and other personal debts
- Where to start with debt reduction
- How much to save
- Dealing with temptation
- Summary; Suggested Reading
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