The 3 Things You Need to Do After Reading Magical Penny

by Adam on May 2, 2012

I was recently asked which three financial tips would I like readers to take away from this site, Magical Penny.

The question was asked to me in an interview with Karen Bryan at Help Me To Save. 

Here’s what I came up with:

My three tips that form the core of Magical Penny philosophy are:

1) Be conscious about costs and start saving SOMETHING today.

Look to save money where you can, like being sure to do car insurance comparison and cutting back on things you are currently spending on that don’t mean much to you.

Then, even if you don’t think you have any ‘spare’ money (no-one has ‘spare’ money), just put the smallest amount away somewhere and then try to keep up the momentum every time you get paid. After a few months of consistent saving you’ll feel like a saving ROCKSTAR and you can begin to increase the amount you save as you exercise those saving muscles.

2) Read more about investing.

The internet has opened up a world of information. You can go from totally uninformed, to well informed about any topic quicker than at any point in human history. You don’t have to be a computer or finance whiz to learn the basic mechanics of investing and start growing your pennies.

3) Investing in cheap ‘Index’ or ‘Tracker’ funds.

They are better over time than almost all other funds because they match how the whole market performs and have the lowest expenses.

For the full interview click through to Karen’s site.

 

UK Personal Finance Bloggers Unite

The interview is part of the preperation for the first Write on Finance Blog Up, which will be held in Leeds over the weekend 22-23 September 2012.

The event is an opportunity for UK personal finance & money saving bloggers/writers and people working in the finance industry to get together (aspiring bloggers/writers and overseas attendees are also very welcome). The focus of the event will be on learning from each other, networking and looking at ways to work together to mutual benefit.

You’ll also get to see me speak on a panel at the event…appealing, right? 😉

If you blog about personal finance or work in the financial industry it would be great for you to join us.

Book your ticket here.

 

{ 1 comment… read it below or add one }

Karen Bryan

Some good advice in that interview Adam.

Event attendees, excluding the sponsors and organisers, have until 15 May 2012 to enter the competition to win one of two 2 night hotel stays during the event:
http://www.helpmetosave.com/2012/03/write-on-finance-blog-up-leeds-competition/

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