The Chronicles: Making Investing a Savings Habit

by Diana Faddoul

I don’t know about you but one of my new year’s resolutions, pretty much every year, is to SPEND LESS AND SAVE MORE. I decided to kick start my resolution off early this year. My vow is to deposit at least $50 from each paycheck to my DriveWealth account. That means $50/bi-weekly which after I thought about it, is such a small amount, but overtime could be impactful.

With investing there is more of a chance of increasing your savings, rather than just allowing your funds to collect an average of .11% APY interest in a typical savings account.  Don’t get me wrong I absolutely think you need a backup plan for a “rainy day,” but let’s be a little more strategic with our money, shall we?

This time around I wanted to diversify my portfolio and invest in new companies, however, I just wasn’t sure where to go. After thinking on it, I decided that I needed a bit more guidance so I looked to our friends at Motley Fool Stock Advisory for some advice.

I invested in the Starter Pack Stocks, which includes stocks from tech giants, big retailers, financial services companies, and more.  I would definitely consider using Motley Fool’s “baskets” again, as it made it made it simpler for me to ease into investing. Hopefully next time I can choose a set of stocks based on my own research and branch out from just the companies I love! Stay tuned….