In today’s episode of She Takes on the World TV, I’m fielding a question from Tracy via Facebook. Tracy is getting to a really good place with her business, financially speaking, and she’s starting to think about investing some of her income (Woo hoo, Tracy!). She wrote in to ask if I’d share any advice or strategies that I have for taking this next big step that’s super important when you’re growing your business.
I’m really glad Tracy asked this question, and I’m happy to share my investment “secrets” with all of you who might be wondering the same thing. In the video below, I’ll give you three simple strategies that have worked really well for me — and they involve (among other things) grocery shopping, social media, and investing in what might be the last company you’d ever think to invest in! To find out what I mean, check out this week’s video:
To recap, here are my top three strategies for managing my personal investments:
- I always save 10 percent of everything I earn, and invest at least 10 percent of everything I earn. I’ve made lifestyle choices that allow me to live affordably so that I can save and invest this much, because it’s incredibly important to me.
- I follow my intuition and invest in companies that align with my values, and companies that I actually buy products and services from.
- I also consider my own company when thinking about which companies I want to invest in. Sometimes taking the money you’d invest elsewhere and putting it back into your own company can produce a really great ROI – maybe even a bigger ROI than if you threw it into another company.
Your actionable this week is to take a look at your budget, and if you don’t already have line items for saving and investing, think about ways to work this into the mix. If the thought of using an Excel spreadsheet makes you break out in hives, consider trying out one of the great budget apps available, like Mint or Toshl or iReconcile, that can help you come up with a personal budget effortlessly.
Now I want to hear from you! I’d love for you to leave a comment below and share your best tips for how you make your money work for you!
*Quick disclaimer: I am not a financial adviser, and I’m not affiliated with, nor am I endorsing, the companies in which I have personally invested and mentioned in this article. I encourage you to work with an accredited financial adviser to decide which investments are right for you.