Whats the best way to invest when you live check 2 check?

I am a teacher, and that is all the explanation you need to know about living check to check. I have money withdrawn directly from my pay and put into a retirement acct. 403(b) is what it is called. Since I never see the money, I don't have it to spend. It just goes in. Even if it is as little as 10 a week at least it is a start. Get rid of anything you do not need: smoking, cable tv, cell phone to come up with the extra cash. Basically I invest what most people smoke in a month. Since I don't smoke it is great. I put $2000 away a year. Not much really, but since 2000 I have amassed $18,000. And it will only grow. Invested @ 14,000 AND I have started a 529 for my kids (50 a month) and they are 4 and 2 respectively and already their 529s are at 4000 and 2000 respectively. Best way to make money is to pay yourself. Google that and you should find some good advice.

Hi, There are 2 things to do: *Make more money available...deduct money automatically from your account to go into a special investment account. Doesn't matter if you don't know where it will go to begin with...just do an automatic deduction into a new bank account. *Put money into your financial education...in order to learn how to invest those dollars you are saving you need to learn. Make dollars available to learn...Yes you have to save more dollars...or visit your local library, read and borrow books on managing your money. You can get a pile of things for free below:

you are living check to check .every week or two weeks have 50 bucks put into a mutual fund using electronic deposit and dont touch it continue to live check to check for five years ( if you were paid $50 more or less per week you would survive ) you are spending what you make - and after a small period of adjustment you will not even miss the 50 .00 - forget the advice for the 401k - if you touch that money before 65 there are huge tax penalties - I dont know about you but I would rather be well off in five years rather than 20 -

My suggestion is to save first before you invest Follow this priority 1. save enough money for your emergency use 2. get enough insurance coverage (Medical & Life) 3. enhance your skill and get a better paying job 4. identify an area of interest and develop it into a business 5. When u have sufficient money to risk than only invest. build a good saving habit first. The amount can be small initially but you will be happy to see your money grow!

I like to let my employer take money out of every check for 401k and stock. I am no millionaire, but that money is there if i ever had to have it.

Live within your means, and you will find a little left over at the end of each pay period. Put that amount into a savings bank account, and do NOT look at the account until you're 65. Give up your little "treats" like Lattes, movies, expensive dinners, and the like. You'll find that it easy to live life without those "necessities" after a while, and you'll not miss it after some months have passed.

Best question I have seen on this ever but I can't answer just waiting for some answers too. Thanks for asking.

If you are living check 2 check because you are still paying off high-interest credit cards, the only thing you should be doing is paying off those cards! Because the 5-7% gain you make from investing will NEVER be enough to cover the 12-30% interest on a credit card. However if credit card debt is the not the reason then look at some of your expenses and see if there is anything you can cut. Even $5-10 here and there cane quickly add-up. For instances, I did away with the movie package on my cable bill, canceled a magazine subscription (I hardly read the whole thing), got rid of a stupid 'Credit Protection' charge on one card, and changed my car insurance company. All told, I gained $80 every two weeks !!! One other thing you can do is if your company offers a 401(k) package (even if they dont match it) put a little in there.... it should be 5-10% of your paycheck. So for my I take home $700 every two weeks, so I put $40 into my 401(k). Do this as a direct deposit or check withdraw or something. That way you dont have a choice, but to invest it..... plus it made it easier for me not to 'miss it' since I kinda never really had it. Savings accounts for me were hard because if things were 'difficult' could withdraw money from there extremely easily. And for me 'difficult' times were, I had the munchies and wanted a pizza LOL. Hope some of this helps

There are several ways to go about it - but initially start a budget. Larry Burkett has some great information and resources available - you can visit http://www.crown.org/ for more information. You also could meet with a financial advisor or with someone that helps with budgets and debt management. I've been meeting with one since January and I'm slowly working my way out of debt. It takes time, but is well worth the effort. I started out meeting with someone that is knowledgeable in business and finances. We have been meeting weekly and he's helped me set up a budget that suits my needs. I've set up online banking (which may be free with your bank) so I won't forget another payment. We also worked together to determine what are my needs and wants. I also started a second job to help offset the difference between my income at the time and the cost of my lifestyle. Pay off any credit card debts and high interest loans off first. Then work your way down. It's been challenging, but well worth it. I highly recommend it!