Many investors have come into the investing world in different ways. Some inherited a small fortune, won the lottery, or came into money in a variety of different ways, money which they then re-invested into various securities in a bid to grow their wealth over time.
Others have been forced to find a way to save money on a regular basis and invest when excess cash became available.
For those in the latter boat (myself included), finding ways to save money regularly over time can be difficult. After all, having a "rainy-day" fund is important, and investing too much of the extra cash one has lying around can turn out to be a poor move when unexpected expenses arise.
That being said, some sage advice I would like to share (which of course is not my own), is to have a "pay-yourself-first" mentality when it comes to saving.
The theory is simple: prioritizing saving over other cash outflows means a steady and reliable savings stream, and therefore a plausible path to reaching a desired savings goal for some life event (i.e. retirement).
By committing to investing $500 per month, every month, without question, in a registered account, the savings can certainly add up over time, when adjusted for growth.
By delaying the instant gratification which may come with purchasing two nice meals at a fancy restaurant, or half an iPhone, on future gratification can seem impossible for those barely making ends meet.
That being said, if cutting expenses today can secure a future for tomorrow, investing even a small amount in one's future and watching the balance snowball can be a very gratifying exercise.
Invest wisely, my friends.
