by Wayne Ramsey

Created on: May 22, 2010   Last Updated: May 23, 2010

Investing is important even if you don't have a great deal of money.  While this may seem like an impossible option for many people, investing can be accomplished if you really take the time to plan it out and make it happen.  What most people forget is that investing can happen the moment you have even a penny inside of a savings account.  If you added a penny a month to your savings account you are investing more and more.  So for the person that says they don't have the money to invest, they simply aren't trying. 

While you aren't going to make any real headway by investing only a penny each month, you can do things to ensure that you have a lot more money to invest down the road.  The more you are able to do the more you'll have invested and the more you'll be able to generate off of your money. 

The first aspect of investing with little money is attempting to find more money.  To do this you must simply look at what you are currently spending your money on.  If you are going out to eat, if you are shopping without coupons, if you have all the premium cable channels, or if you drive your car to go less than a mile away there are ways that you can save money and thus invest. 

When you are attempting to invest with little money you should start by creating an INVESTMENT bill.  To do this you simply figure out an amount of money that you are going to set aside from every paycheck and treat it like a bill.  While this money is actually being put into savings it keeps you from spending it and if you treat it like a bill you'll make certain that you give it priority.  The key is that regardless of what you WANT to buy or what you THINK YOU NEED you treat this money as a real bill and pay it EVERY paycheck.  This amount could be $5 or $500, it doesn't really matter.  The idea is that you are going to constantly add to that amount over time until you have a very real amount of money in your account.

Another way to save is to take ALL of your change and set it aside.  Once you have enough money set aside, put that in a bank account for savings.  To do this, you simply round up every purchase that you make.  If your cell phone bill is $72.19, then take the $.81 and put it into your savings.  You aren't going to notice the change coming out but you'll notice that your savings will quickly add up. 

If you go grocery shopping and you never use coupons you can do

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