In recent save money news stories, information has been released on how Millennials are learning how to save up money, even though they do not have a lot of money at their disposal. According to studies, the Millennials throughout the nation have the lowest net worth of any other generation that is of working-age. Based on statistics, half of all of the adults between the ages of 18 and 34 have a net worth of less than $11,000.00. Additionally, the average income of the Millennials is also considered to be the lowest in the nation, at approximately $35,000 or less, annually. Given the fact that this age group faces the largest amount of complications with the job market, has a surprisingly large amount of student debt, and are typically individuals that are only able to acquire part-time employment, it is no wonder that so many are having issues when it comes to saving money. If you are a Millennial, you should continue reading this guide. Here, you will learn how to save up money, even when your funds are limited.
Dividend Reinvestment Plans (DRIPS)
One of the most popular ways that Millennials may invest the little bit of money that they have available is through dividend reinvestment plans. This will allow you to purchase very small amounts of stocks directly from a company. Once you have done this, you may then reinvest the dividends that you obtain from those stocks. As you reinvest, it will increase the value of the assets that you possess, over time. This may be a relatively slow method of increasing savings through investments, but, it is a financially secure means of learning how to save up money, according to save money news articles that are currently in circulation.
Exchange Traded Funds (ETFs)
If you are a Millennial that wants to engage in an investment that has a much more productive balance risk than dividend reinvestment plans have to offer, you may find an interest in putting your money into exchange traded funds. These funds allow you to experience substantial financial growth, as time progresses. These types of funds are known for tracking a wide assortment of indexes and various sectors. Exchange traded funds pay dividends, which will allow you to earn additional money each year. Due to the low expense and no minimum investment, this is a wonder way to learn how to save up money for Millennials that lack a lot of savings!
Conclusion
It is not at all uncommon for Millennials to find themselves limited on funds to invest, according to save money news articles. As a result of this fact, this group of people must be creative in their investments. If you are a Millennial that has a lot of student debt, a low income, or are experiencing employment issues, do not allow that to deter you from engaging in investments. The two most productive options that you have at your disposal include dividend reinvestment plans and exchange traded funds. These investments do not require a lot of upfront cash, but, have the potential to render generous profits, over time, based on information in current save money news articles and guides.
SOURCE: Free Money Wisdom – Read entire story here.
