So You Think You Have No Money to Start Investing

So you think you have no money to start investing... You're wrong. I can tell you that without even knowing you, because it's true. There is always a way to raise the funds to start your investment career tomorrow. Let me show you some simple ways to make some money, and ways to reduce the amount of capital you need to get started. First of all - how much are you saving?
It may seem like a silly question, but I'm serious. If you're not saving any money at all, then you need to start now. When you're saving money you're taking action, and moving forward towards your goal of investing. That's the first step. I challenge you to start saving money now - as much as you can afford, but aim for 10% of your income. This sort of regular commitment will help instill the mindset of control over your finances that you need.
Now - on to the more immediate concerns of raising the required money to start your investment career. Have you given any thought as to what your strategy is going to be? You need to decide that, which will in turn give you an indication of what amount of money you need to look at starting with. You may need more, or less - depending on your intended investment strategy. About that money...

• have a garage/yard sale - get rid of unwanted and unused items. You'll be surprised at the amount and value of the junk we all accumulate! It's possible to make some decent money by selling up unused bikes and furniture, not to mention the toys and clothes that the kids have grown out of.
• If you live in a house you're repaying a mortgage on - you're ahead of the pack. Why not do a few things to spruce the place up and have it revalued? You'll be able to access the equity you've developed in your home to raise extra funds to start your investment career. It's a good way to make all your hard work paying the mortgage work for you - essentially giving you great access to comparatively ongoing low interest rates
• If you haven't bought real estate, and can't access equity there - look elsewhere. What about your parents, your extended family... Obviously I wouldn't recommend that you approach anyone with that idea until you've formulated a carefully planned strategy in conjunction with clearly set out goals.
• Partner up! There's no harm in joining forces with a like-minded business partner. It is important to realise that when you join forces with someone you pool resources and profits, as well as losses. An investing partnership can allow for more thorough preparation and analysis, but I'd suggest that clear communication and absolute transparency is a must in a partnership scenario.

The bottom line is that the above techniques show how easy it is to come up with some cash. The common thread in all those options is preparation. Before you jump into investing, you really need to know as much as possible about what you're investing in, as well as have a plan formulated for achieving your goals through your investment strategy.

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