Friday, October 20th, 2017

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Even Smaller Amounts Can Be Used for Investing

Having smaller funds to work with doesn't mean people can't start investing.People who are just starting out in their careers may not feel as though they have the financial means to start investing, although they do have some options.

According to a recent piece from Investopedia, people with as little as $50 to set aside monthly can start putting it away and seeing some returns. The financial information organization said that the initial step in investing with this much money is to open a savings account, which can provide a small return.

“Have your $50 deducted straight from your account every month so that it becomes a habit, and build a little nest egg,” the piece from Investopedia said.

This small amount of savings can help in a number of ways, including establishing an emergency fund. A number of people in the country ended up losing their jobs during the recent recession, leaving some to rely on credit cards to get by.

However, having some money in a savings account can help offset costs seen during unemployment, while also providing funds for unexpected expenses.ADNFCR-3389-ID-19854516-ADNFCR

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