There are countless opportunities to invest your money, despite having to pay off your student loans. No matter where you are financially, you can accomplish the portfolio of your dreams with a little step in the right direction.<\/p>\n
Make a budget.<\/h2>\n
Do you know how much extra cash you have at the end of the month or how much you spend on going out to eat every week? These details are important pieces of information you need to know. Creating a budget is extremely important for first time and even expert investors. You need to be able to see where your money is going.<\/p>\n
When you first start investing, you may need to make a few adjustments to your budget and spending habits. Maybe you can only order sushi once a week instead of three times. Minor adjustments can do wonders for your pocketbook and your portfolio.<\/p>\n
![\"frugality\"](\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2015\/04\/frugality.jpg\" "\\"\\"")
<\/p>\n
Start small.<\/h2>\n
Half the battle is making the decision to start to investing. No matter where you are financially, you can invest some extra cash. Think about how many times you have ordered takeout this week or stopped at Starbucks. Those little expenses could add up. Imagine if you starting investing $3 a day for the rest of the year. It doesn\u2019t seem like a large amount, but it can add up. If you started January 1, you would have $1,095 to invest by the end of the year.<\/p>\n
Related:<\/strong> Should You Pay Down Student Debt or Start Investing?<\/a><\/em><\/p>\n Choose an amount that you are comfortable with and invest in something that builds over time. With a little bit of consistency and discipline, you will have your very first portfolio.<\/p>\n If you have done your research, you will hear a lot of expert investors tell you to \u201cpay yourself first.\u201d What does this mean for a graduate with student debt? It means you need to make investing a priority. A great way to make investing a priority is to automate your investment efforts. For an example, pull a specific amount from your bank account every month and deposit it into your Roth IRA. This way, you don\u2019t have to think about it —\u00a0it is already done.<\/p>\n When you make a conscious decision to invest or to buy a pair of shoes (that you don\u2019t really need), most likely you will pick the shoes. This gives you instant gratification. Prolong that gratification and if you truly want something, take some time and save for it. Don\u2019t sacrifice your investing.<\/p>\n Creating good financial habits<\/a> now can\u00a0have an extraordinary payoff for you and your family in the future.<\/p>\n Investing can be emotional and challenging. Finding a mentor<\/a> can be a great way to help you be held accountable and encourage you to be consistent. Search for a mentor who has the same money philosophy as you. You want someone to be aligned with your goals and the risks you are willing to take.<\/p>\n Working with a mentor is a great way to educate yourself and learn from someone who has experience in the field. Especially if you want to dabble in\u00a0real estate, having a mentor could have a big payoff in the future. They can help you avoid the mistakes they’ve made and guide you to a healthier financial lifestyle.<\/p>\n Does your job provide a 401(k) plan? If so, make sure not to miss out on free money. Once you determine the percentage of your income you can invest every month, ask your employer about their match program. Most companies will match your contribution up to a certain percentage of your income. If they will match your contributions, let\u2019s say up to 6%, be sure you are contributing that amount. You don\u2019t want to miss out on an opportunity to invest free money.<\/p>\n If you are self-employed, an entrepreneur, or your employer\u00a0doesn\u2019t provide a 401(k) plan, there are many other options for investing with tax-advantage accounts. For example, consider opening a Roth IRA. Contributions do not have tax breaks; however, your earnings and withdrawals are generally tax-free.<\/p>\n Investing in real estate is not something that happens overnight<\/a>.\u00a0It is a lifelong journey toward your financial goals. Make sure you establish your expectations upfront, so you are in it for the long haul. Depending on your financial situation, you may need to start small. Maybe your first home is your first investment or you partner with a local investor that will help you flip a house.<\/p>\n Related:<\/strong> How to Get Started in Real Estate Investing as a College Student (or Recent Grad)<\/a><\/em><\/p>\nPay yourself first.<\/h2>\n
Find a mentor.<\/h2>\n
![\"tax-changes\"](\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/12\/tax-changes.jpg\" "\\"\\"")
<\/p>\nUse tax-advantage accounts.<\/h2>\n
Take a look at real estate.<\/h2>\n