Everyone wants to learn tips and tricks for getting rich while exerting as little effort as possible.
Plenty of places offer these solutions, too.
Invest your money in this, take this job, buy some virtual coins that you cant spend anywhere.
Its all so exciting!
And for 99.99999% of people, day trading cryptocurrency is not one of them.
Do you want to know the secret?
The truth is your finances should be boring.
Because the boring basics are what work for most people.
Over and over again, in pretty much every aspect of personal finance.
To save effectively, you have to start small and make it consistent.
You build up the habit, and it gets easier to save over time.
How long will it take until its second nature?
Well, that will depend a lot on you and your individual circumstances, of course.
Live below your means, automate your savings, dont cut corners.
Look, I am bored just typing these words, but it works.
Here are some other tips, fromNerdWallet:
Increase your savings rate by 1% every six months.
Set a calendar reminder to help you remember.
Youll hardly notice the difference, and it will really add up over time.
Put 50% of all raises towards savings.
You still get to increase your lifestyle, but you do it in a sustainable way.
But it’s possible for you to start anytime you want and still do well for yourself.
I recognize it is a privilege to save at all, in many cases.
Set aside $5 per paycheck.
It will give you some sort of control as you look for ways to increase your income.
Again, this isnt to say that these things areeasyor intuitive for everyone.
You have to make an effort to do these things, and sacrifice for them to work.
But they are simple and effective.
Dont pay someone to actively manage your accountsthey arent likely to beat the market.
Individual investors just arent good at timing the market.
(I suggest Vanguards.)
The resulting frictional costs can be huge and, for investors in aggregate, devoid of benefit.
If its good enough for him, itll probably be sufficient for us.
If youve taken time to read any money content at all, then this likely isnt new to you.
Wouldnt the grass be greener if we picked the right company to invest in?
Surely not all of these products would exist if the simplest strategies worked the best?
