Investing Money for the First Time
I know what it feels like to be in debt and it’s not fun! For most of my adult life, my husband (now ex-husband) and I struggled to make ends meet and were living paycheque to paycheque. It caused us much stress and I think was a contributing factor into some of our marital problems. I have to say though that since I’ve been on my own, things have been much more positive for me financially. All I can say is- it’s about time!
Our bank played a HUGE role in helping us pay off our outstanding bills and loans. At the suggestion of our banker, we refinanced our mortgage and took out extra cash to pay everything off. It was the best decision we could have made. We were able to pay off everything and finally have some breathing room again. We did end up parting ways and moving so we sold our home. We even made a small profit on the sale!
Now that I’m on my own, I finally feel in control of my financial situation. Only I have access to my bank account so I always know how much money I have and I spend it on. In fact, just last week I had an appointment with a representative at my local bank. The reason? It was NOT to borrow money, but actually invest some!! It’s such a HUGE change for me and made me feel so good to know that I am able to earn money on my own without having to rely on anyone else for support.
My banker went over the different types of savings accounts and investment portfolios and explained each one to me. He assessed what kind of risk-taker I was so he could place me in the right portfolio. I don’t like to take too many risks with my money so he suggested I invest it conservatively. I was a bit nervous at first, but I was assured my money was safe. It actually has already gathered some interest. I’m going to try to keep investing a little bit of money here and there and build up a nest egg. We discussed my financial goals and I said right now I just want to have some cash to fall back on in case I need it. I actually have another appointment in a few weeks to invest some more money with my bank. I can’t wait to watch it grow!
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Disclosure: Compensation was provided by SunTrust via Glam Media. The opinions expressed herein are those of the author and are not indicative of the opinions or positions of SunTrust.