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.