Having saved a lot of money in savings before discovering the power of investing, I really haven’t thought twice about minimum funding requirements. I just dumped my money into a mutual fund account and just started to enjoy watching it grow. However, for those whose margin between cost of living and monthly income is razor thin, even a P5,000 minimum balance can be a pretty hefty sum.

So… where do you start investing when you’re broke?

Countless times, I would ask individuals why they were not investing in the stock market or in mutual funds and was told they felt they had little money to get started. What makes it increasingly annoying is knowing that there are people who claim they’re broke, yet they spend their money endlessly. Now, I don’t say any of this to be harsh or rude or judgmental- I say it to be realistic. I understand that we all need to indulge for ourselves, but I think that most of us could use a reality check when it comes to what we can and can’t afford.

Ultimately, I believe everyone has enough money to START INVESTING if they make it a PRIORITY. Start thinking about the future and instead of only thinking of the present.Take a look at your spending habits and look for ways to cut your expenses. Look for ways you can trim down your spending and put that money to work for you as opposed to being enslaved to it.

Don’t have a lot of money to invest? That’s okay – here’s how you can invest with just a little money!

It may seem like a small amount, but finding something as simple as even Php20 a day to invest will do you wonders in the long run. Place that the money in a savings account and save more money on a REGULAR basis, and start investing once you have the Php5000 minimum to open an mutual fund account at a investment/insurance company like Sunlife.

Whatever your situation is, please take action to get started today. You don’t want to look back years from now wishing you would’ve started earlier.

photo credit: Inspiration via photopin (license)