Maybe you landed the killer promotion or destroyed some debt, and now you finally have free cash flow.
Congratulations! Now it is time to learn how to invest money like a boss.
Understanding these goals is essential because they may impact how you invest. For example, if you currently carry a lot of high-interest debt, you might prioritize paying that off before investing.
Many people use spreadsheets to budget. If you're not a spreadsheet person, consider some budgeting apps available. Mint.com and You Need a Budget (YNAB) are two of the most popular.
Your budget tells you how much you can save and invest. That's the foundation that must be in place to ensure you can contribute a consistent amount to grow your wealth.
Most people considering investing their money should look at retirement accounts first. Remember, this is after you've set your budget, created your emergency fund, and determined how much you can invest each month.