A NEW INVESTOR TYPE CREATED
With some investment advisors, they will tell you it is ok to invest high risk at a young age. The reason is, if you lose money, there will be time to make it back. No pun intended but, that is a lose–lose situation. A better theory is if a young person becomes well-educated about any investment, the decisions should produce good results early and forever. Because the investments make money early, the money over time will grow substantially.
This includes what I call a non-investment, which is predatory debt. Predatory debt comes in many forms. Some are high-interest loans, interest-only loans, purchases of unnecessary items with credit cards, and loans without affordable payments. The list goes on and on. Many people have these issues, but with consistent planning of your finances, this does not have to happen. Instead of constantly making debt payments, money will grow in accounts. Start doing the right investing early, and it will grow widely over time.
THE DIFFERENT INVESTMENT TYPES ARE HARD TO SEE
Some investments are hidden. Most investor types include stocks, bonds, mutual funds, real estate, and business. A more unusual investment is a side hustle to make money for income or debt payoff. The debt payoff frees up money to save, invest, or emergencies for near or future needs.
The more education, the more research, and the more time and attention paid to study, the more will be produced long–term. Therefore, the younger a person starts with great investments the more efficient they will become. Sometimes making as much as four or five times an investment over time.
Instead of concentrating on losses from high-risk investments, concentrate on wins from well–studied, well-planned investments early.
Just remember all investments make money over time, with the exception of a tiny amount of quick lucky investments. With investing patience is the key, but understanding how the investment makes money is a more important key, to staying focused.
This newly created investor type at MsFinancialSavvy can save your finances
Debt payoff will save on interest payments that are unnecessary. Some of those interest payments are a large part of a monthly bill. Some interest payments balloon over time. These two things alone can make debt payoff a difficult to impossible task
This is especially true when there are multiple payments. Debt payoff will save on principal payments also, once large principal payments are paid, the debt game will be understood. The money is now freed to purchase what you need in cash or save.
Now that the debt payoff has created a paid-off bill also think about using the money to invest in an interest-bearing account such as an equity mutual fund or a bond fund. Instead of seeing money leave your pocket, there will be an accumulation of money over time in your bank account.
This interest will accumulate money for necessities in the near or far future. So instead of making another bill, simply borrow from savings.
Debt payoff can be accomplished by using a side hustle to make money when you accept the fact that working hard is not a sin. Once starting the side hustle working hard will become routine, especially when you keep the end goal in mind.
ANYONE CAN FIND A SIDE HUSTLE TO MAKE MONEY
A great investment can be any side hustle to make money if the money is used for debt payoff or savings. Understand the side hustle first and don’t spend money to create a side hustle, look for existing jobs.
A side hustle to make money can be a food delivery job, a driving job, a store clerk job any part-time job that increases income enough for a debt payoff.
When a side hustle to make money is used for paying off bills, the stress of debt will start to dissipate.
Bill payoff is done gradually by starting with the smallest bills to get rid of that payment, to the larger bills.
If the bill payoff is consistent, the debt will eventually be resolved. How to make sure the extra money will be used for bill payoff and then savings? Before using a side hustle to make money, map out how the money will be used to improve your finances, then, commit to sticking to the plan.
There are different investor types. For the purpose of this article let’s say you are an investor in your personal finances. Most of the different investor types pertain to stand-alone business or equity investments. But more people would have a great life if they treated their personal finances as a business. Instead, they buy what makes them feel good, don’t monitor their spending, and end up in a financial mess.
To achieve different investor types for great finances, budget every dime, work more when more money is needed, pay debts, and save money. These different investor types for personal finances can consistently find ways for debt payoff instead of taking debts to the moon.
The best way to see their finances as organized growth is to engage in a side hustle to make money when they fall short. And to constantly use the money for debt payoff.
Use a side hustle job for effective debt payoff
WHAT AFFECTS THE ABILITY TO KEEP DEBT LOW
Some were raised in households where money was wasted on an ongoing basis. Then, when there was a catastrophic event, they went for loans. The loans piled up so big the payments got out of control and they eventually lost everything.
Some families think that debt payoff meant getting into more debt to payoff previous debt. This is called debt transfer when one debt is used to pay another debt. The hidden cost of the new debt makes personal finances worse.
Another type of personal investor is when you recognize the fact that paying off bills with income, is an actual debt payoff, when you increase your earnings for this reason. There are many easy ways available to make extra money to pay off bills and those include many part-time jobs to choose from.
SUMMARY OF HOW RADICALLY DIFFERENT INVESTOR TYPES CAN BE USED FOR GUERRILLA DEBT PAYOFF
There are many different investor types. Here is a newly created type for personal financial reasons.
The new type of investor is those that use the income to pay off current debts and have that money available for emergencies or to save or invest.
Here find a side hustle to make money and create your dream finances. This will enable the creation of massive debt payoff and no longer worry about horrible debt that keeps you awake at night. Or worse yet worrying about the future.
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