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HomeBlog Personal FinanceHow To Invest To Grow Your Personal Wealth
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How To Invest To Grow Your Personal Wealth

July 8, 2013 by National Debt Relief

Some people are afraid of investing. Even if it has the ability to grow your personal wealth, there are risks involved and that is what scares some people. Although the economy seems to be holding up and steadily improving, people are still hesitant to part with their money – choosing to prioritize saving over spending.

How To Invest To Grow Your Personal WealthBut if you think about it, even with all the risks, investing will do you more good than harm – but only if you do it correctly. One of the things that you must do while paying off your debts is to increase your income so you are assured of a steady stream of debt payment fund. To secure that, you need to look for a supplemental source of income that will not get in the way of your current day job and will not remove too much time away from your family.

Beginners guide to investing for personal growth

Investing is simply putting your money where you know it will grow. This can really help you increase your debt payment fund. When you invest, it can come in any form – as long as whatever you use the money on will grow in value over time. For instance, buying a car is not really considered an investment because it decreases in value as soon as you drive off from the car dealer. Buying a home, on the other hand, will increase in value – more so when the surrounding area is being developed or modernized.

There are also investments that you can hold on to and earn from for a very long time and there are those that you only own for a short period then you sell it for profit.

Here are different types of investments that you can use to grow your personal wealth.

  • Stock. When you buy a stock, you get to own a part of the company that it represents. When you buy a stock for $5 per share and it increases to $10 the week after, you just doubled your investment. The value of stocks rise and fall and the technique is to know when to buy and sell your stocks for profit.

  • Mutual fund. This refers to a group of stocks that is managed for you by a money manager. you can buy shares in the mutual fund and the professional money manager will trade the stocks to grow the value of the whole fund. Usually, a mutual fund is traded in a specific sector only – for instance, the retail or energy sector.

  • Bond. A bond is the safest way that you can invest but it is not always the best in terms of payout. It is something that you buy for a set price and after a pre-defined term, you can redeem it along with the gain that comes with it’s maturity. There are types of bonds that earn interest periodically while there are those that only payout when it matures.

Most investments comes with a risk factor of losing value instead of gaining. It is no longer wise to assume otherwise so you need to exert extreme caution when choosing your investments. Bonds are the least risky while stocks are on the opposite of the scale because the market is very unpredictable. But know that the greater the risk, the more potential for wealth building.

Make sure you read thoroughly about what you are doing so you can manage your investments wisely. Visit authority sites like MarketWatch.com or Money.com for investing news. You can also look for investment tools that will help you stay on top of your finances like those from CNN Money.

When to save and when to invest for personal growth

It is very important that your investment be treated differently from your savings because the latter will not grow as much money as it should. Your reserve fund should remain intact because that is what you will use in times of emergency. By keeping it separate, you are also protecting your investment from being withdrawn before it can reach its maximum returns. Regardless of how their personal finances go or what their expenses will demand, they don’t have to sacrifice the momentum of their personal wealth because they have adequate savings for that.

This means you may have to grow your savings to 4-6 months worth before you can fully engage in investing. But that does not mean you have to postpone investing. Some people invest a little and whatever they get earn from  it will be invested in something else. That is how they keep the ball rolling and the monetary growth more significant.

Here are some tips that you can use to keep your investment and savings intact.

  • Create a budget plan to determine how you will pay off your bills and at the same time, put aside money for your savings and investment.

  • When investing with limited money, put in only what you can afford to lose.

  • Do not put everything in one basket. Buy stocks from different companies or invest in both mutual funds and bonds.

  • Take advantage of investments that you can make for your future like your 401(k) plan. This is beneficial because employers usually put in as much amount on this plan as you are giving every month.

  • Always use your logical sense when investing and do not use your emotions. Lower your stress by not watching the market news everyday. A bad interpretation of the news can lead to your selling of valuable stocks that could eliminate the potential to earn more.

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National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

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Moderate National Debt Relief Caller: Charlotte Transcribed WE 1/24/2021 Charlotte: Before I begin, I have to let you know that our call may be recorded. Can you tell me, how did you first hear about our National Debt Relief? JOAN: Oh, I don't know. I don't remember. I don't know how I heard about it. Charlotte: What made you decide to work with them? JOAN: Well, obviously, I needed to consolidate my debt. Charlotte: Tell me about the service program that they provided you with. JOAN: Well, I'm not done. But for me, it’s costly. What I did not like about it was that they add on. They say it's going to be X amount of dollars. But then what they do is they say, “Oh, well, we found another creditor that you need to…” So that'll be at a different part of the month and I don't like staggered bills. If I'm gonna pay a bill, whether it's to the phone company, the insurance company, whatever it might be, I want to pay that bill once a month. That's the only drawback. Charlotte: So let me get this. Normally, they are collecting the bills upfront. And then they work to get them paid off at a different rate. So everything wasn't collected all at once, if that's what I'm hearing correctly. JOAN: No, no, no. Every month, money is taken out of your account. And they pay X amount of dollars. Like let's say you owe $5,000 with Citibank, $500 in Credit One, whatever. They work out a deal with them and then they say, “Well, you have to pay $350 a month.” And they'll pay $20 a month towards -- they give you like around about how long it's going to take. Two years, two and a half years. And then they work it out that way. Charlotte: Now, what did you think about your negotiator? JOAN: I don't know. I just called up. It's a completely different department. So when you call up to sign up, it's very different. I don't remember that. It's just that they collected all the information. It was easy for me. I didn't have to go through and find whatever bills I wanted to put in the debt relief. They did that. Charlotte: So say you have questions or concerns. How did you get your questions or concerns addressed? JOAN: I would just ask and they answered it. They're very helpful like that. They'll answer any questions you have. And if they don’t know, they will find out. Charlotte: So was there not a particular person that you spoke with? JOAN: No, you don’t have one person that you deal with that just handles your account. Once you do – they’re like headhunters. Until you sign up, you're going to have that one person and even other people calling. Once your name is out there, they're going to keep calling you. So, once you sign up, then it's whoever answers the phone. It’s customer service. Charlotte: How comfortable did you feel working with National Debt Relief through this process? JOAN: I felt very comfortable, very safe. I was not worried about anything. Charlotte: Is there anything about this process that you would have liked to seen handled differently? JOAN: Yes. The way the payments come out. I'd rather have them one instead of … Charlotte: Everywhere. JOAN: Right. Well, not everywhere. For the most part, the bulk of them were. But then if there's one here, one there, they don't just extend it to another payment. And then the payments change, like the payment amount. You could pay $20 for six months, and then all of a sudden, it's $80 for the next three months, so you really don't know. Charlotte: So if you have to rate this experience on a scale of one to five, five is you’d recommend to friends, one you're pretty dissatisfied… JOAN: No. I would definitely recommend it to a friend. Charlotte: How would you say working with National Debt Relief has impact your life? JOAN: Well, it did help until I hit a speed bump. I'm in the middle of a divorce and my husband closed our checking account, of course. But so far, as a matter of fact, that's why I thought you were calling. I have to postpone the next month, so hopefully, they'll be able to postpone it, because I've been postponing it for a few months. Charlotte: Would it be okay if I posted your comments as a review on our public website for National Debt Relief? Because you did give us some really good feedback. JOAN: Yes, but not using my name. Charlotte: Okay, I will make it anonymous for you. I will also send over a link so that you can have it as a record for yourself at jdola20@yahoo.com. JOAN: Yes, but do not put that public. Charlotte: Oh, no, no, no. That doesn't go public. Definitely. How would you say working with National Debt Relief has impact your life. JOAN: Well, really, it would have helped if I could have stayed on the program. Charlotte: We’re recorded.

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