Self Help

One excuse people often use to explain why they don’t invest: “I just don’t have any money.” Sorry, but that alibi won’t fly. Everyone can find ways to reduce their spending in order to come up with cash to invest. Maybe it’s shopping at a warehouse club and buying in bulk instead of heading to the upscale department store for a similar item.

Maybe it’s shaving your medical bills by joining an HMO instead of sticking with your employer’s expensive health insurance policy. Maybe the next time you purchase a big-ticket item like a car or TV you can buy a less expensive model than planned. Or maybe you might even relocate from an expensive part of the country such as the New York City suburbs or California to a place where the cost of living is lower.

One other tip: Cut back on your trips to the automated teller machine for cash withdrawals. You’ll be left with more money in the bank, which you can then withdraw to invest.