Do you want to save time and money investing? Pretty clever approach of yours. After all, both are goods that are extremely limited, even as an investor, and which should be better managed.
There are definitely ways in which you can save time and money as a Foolisher investor. And that without having to accept any loss of quality when investing. So today let’s take a look at three possible options. As well as where exactly the advantages of these approaches lie.
Save time & money: ETFs & index funds
One of the first and possibly the best-known ways to save time and money is with ETFs and index funds. After all, as an investor with this approach, you are investing in a broad market. This makes a single stock selection unnecessary. This is an approach that is definitely not costly and should still yield a solid return over longer periods of time.
However, in addition to time, you can also save money. Foolisher investors who rely on index funds for ETFs pay only a few fees. Investing itself is also often free if you invest with the help of savings plans. Foolish investors can therefore definitely consider this option if they want to make savings on these two important goods and still invest successfully over many years and decades.
Save time & money: invest automatically
A second way to save time and money for me is automated investing. Anyone who takes such an approach as an investor does not have to constantly think about how much effort they want to invest each month. Or also which stocks you invest in. Automation saves a lot of time.
However, that’s not the only benefit. Those who invest automatically can also save money. Here we are again on the subject of ETFs and index funds, for example. With the help of inexpensive and partly free savings plans, the monetary advantage is definitely given. A factor that as a Foolisher investor can be stressed twice.
Put away a fixed amount directly when you receive your salary
Last but not least, it can also save time and money if you set aside a fixed amount when you receive your salary. Of course, this is a very obvious way to put a fortune aside. However, as an investor, you shouldn’t ignore the time component either.
Saving itself is also a science. For example, you can use household books, budgets and other things to identify further potential savings. Without a doubt: these are clever tools. However, if you don’t feel like doing it, you can simply put aside the portion of your salary each month that you certainly don’t need in life. This in turn saves time and, of course, money in the truest sense of the word.
Of course, more is always possible. Sometimes, however, that certain extra is associated with an effort that a Foolisher investor does not feel like doing.
The article Saving Time & Money: 3 Clever Ways first appeared on The Motley Fool Germany.
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Motley Fool Deutschland 2021
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