How to Buy Gold on a Budget

Buying gold is currently a great investment. But the problem is buying gold on a budget. There are very few investors that can sink $5000-$10000 on gold, but fortunately, buying gold is not limited to the extreme wealthy, thanks in part to the American Gold Eagle and other great gold coins.

Difficulty: Moderate

Instructions

1. 

   Start investing by gold, by establishing how much you can spend on it. Set a target price for each month. Put that money aside and make a purchase.

2. 

   Decide on a target type of gold. Decide if it is American Gold Eagles or another common gold coin such as Gold Maple Leaf. By sticking to one or two types of gold it will allow for the portfolio to quickly build.

3. 

   Take some money away from such items as entertainment fund or miscellaneous. Instead of spending money on such items, transfer it into the gold fund. In these tough times it is wise to save and purchasing gold is a great way to save.

4. 

   Consider rolling out of some stocks and moving into gold. Some gold can be added to an IRA account. With the stock market up and down, if you are fortunate to be up on a stock, take some profit and move some of into gold. The typical mark is considered about 20 percent of any portfolio into gold.

5. 

   If physical gold cannot be purchased, get into a gold fund or an ETF. This can be done a on budget by using Sharebuilder.com or another online investment firm. Most will allow a small amount to be invested each month or week. Build up your positions in an ETF by investing a small amount each month.

Tips & Warnings

• Any investment can go or up down. Make sure you can handle any potential losses.

Resources

• Gold Investment Advice

[soanyway]

on 7/19/2009 I love SharBuilders! I'm going to my account right now and check out the gold and add it to my monthly investment! thanks.