I love to talk about investing and money management, and not just because it's my job.
Now it's a passion that takes hours of my day, so I am very happy to talk about it with people who are not my clients.
After many conversations with strangers, friends or acquaintances, there is one objection that I hear constantly: "I don't have enough money to invest right now".
I can see where it is coming.
Money sometimes seems to disappear the exact moment it enters your pockets.
If that's your case, there is a simple principle that can help you saving more money (and being able to invest it after).
Adopt a "Pay Yourself First" philosophy.
This looks obvious, but if applied constantly it can make a huge difference and improve your savings rate dramatically.
The practical way to apply this philosophy is pretty simple.
Once you get your salary (or a money inflow), you decide how much you want to save and, after you decide the amount, you set it aside immediately and then forget about it.
It doesn't matter if you are not sure to be able to save it, the simple act of set some money aside will make you more accountable for the money you will spend during the rest of the month.
It's a bit of a stretch, but I would say that put aside an amount of money, even very small, it's more important than paying off your debts, because it will show you that you have the ability to save money.
And the more you practice and get better at this, the easier will be for you to pay off your debts.
The best way to do it is to set up an automatic transfer from your checking account to a savings' bank account that you use only for this reason.
Ideally this account should give you an higher interest rate than a normal checking account, but what it really needs to be is a place where it's hard for you to get your money.
So, no credit or debit cards linked to it. The only job of this account is to keep money away from your "worse" self who wants to spend it all right now.
At the beginning, you would probably feel weird seeing a smaller amount of money on your checking account, but in 2-3 months you will be able to change your spending style accordingly and you will painlessly save money.
And in few more months you will be ready to go for make your first investment ;)