How to Invest Money

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To invest money, develop a firm household budget, pay yourself first, and make sure other expenses are paid before using money for investments. Invest more money when it becomes available with advice from a registered financial consultant in this free video on investing.

Part of the Video Series: Investing & Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to invest money. Investing money is a personal commitment that an individual makes for their better wellbeing. But it's important, first, to develop a firm household budget that you'll have to work with and to pay your basic living expenses. And, of course, from that, you can develop a framework to pay yourself. First, paying yourself first is a way you make the commitment to be an investor and how to invest money because if you pay yourself last and find out that you have more bills than money left over, then it's more difficult to be an investor. So paying yourself first is a very key factor, and I highly recommend it for everybody. When you set up the budget, make sure that it's set up with your living expenses in mind, clothing, food, shelter, transportation, utilities, and whatnot. If you find that you want to invest more, then you can look at your budget for ways to cut back and save money on your current, existing expenses. Of course, credit cards and other bills come to mind as well. The more you can keep your expenses in line, the more you can invest. This is financial adviser Patrick Munro talking about how to invest money.

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