One of the hardest things to do for people is saving up to invest. Anyone can save money but something always comes up and the money always gets spent. Car breaks down, kid gets sick, etc. For many individuals, it takes months to save just a few thousand dollars! Some people can't save at all because they are living above their needs, car payment they can't get out of, high mortgages from buying a house before the housing crash, etc.
So how do we save money for investing without already having a good paying job? The answer is, you don't save money you borrow money. This is the great trick that nobody wants to tell you! I've read countless books about business, business finance, investing, but none gave me a clear and concise answer. It was very frustrating to say the least. But, surprisingly enough, there were people around me using techniques to make money like I'm about to show you in order to pay for everyday needs because they had lost their jobs. So here's the trick.
Are you ready?
Many of you have known about your everyday loans, they require credit, which not many of us have anymore, they require equity, a house or some kind of property to use as collateral for the loan, and they require you to pay interest. Though the interest rates for these loans is negligible since they are very low, these loans still carry some heavy prerequisites.
So the easiest way to get that initial money is using a STUDENT loan! The only prerequisites to these loans is that you need to have made under a certain amount of money in the previous year on your taxes and you need to be taking at least 12 credits worth of classes. You then go to a cheap community college for whatever easy classes and you just made a couple thousand dollars.
The catch is that you'll need to keep a certain grade point average in order to do this again semester after semester. You can also do it by going for a Master's degree. In fact, loans for graduate schools can be over $100,000 which means you can get a lot of money in just a few shirt months. How does getting $20,000 for taking a few online classes for a few months sound?
This discovery was amazing to me because these loans could then be consolidated letting you pay a very low monthly amount, around $100. Also, as long as you go to school you don't have to pay them at all. The interest rates will be higher though but as long as you invest and make a higher percentage in returns from your investments than the interest rates accrue you are still coming out on top. Also, when investing in the market, your money multiplies which means the more money you have the more money you make. So if you can turn $1,000 into $10,000 then you could have just as easily turned $10,000 into $100,000 dollars!
Have I got your attention yet? So borrowing money at low interest rates by going to school is the perfect way for a person with a low income to get some easy money in order to make the big bucks. You won't need to have rich friends to lend you some investment money, or to have a house that you can borrow against, all you will need is to go to school. So if you want to learn more there's a ton of information online or just go to your local community college and the financial aid advisor will help you. Good luck!
