Growing up in Texas, Carlos Armando saw his family and other families work hard and make sacrifices for a better future -- para salir adelante. But looking back, he realized how limited their access to financial education really was. So he set out to change that and launched Finhabits, a new investing service to help your money grow over time.
1. On Building Good Financial Habits
In this country, we don’t just hope for a better future, we make it happen by working hard. But we don’t always have the habit of putting our money to work for us. Think of all the small things you do on a regular basis; things you do without thinking such as brushing your teeth, going to the gym, etc. Little by little, their benefits add up. Finhabits is here to help you get into the habit of investing, so you can reach your financial goals.
2. On Reaching Our Goals
The first step toward getting into the habit of investing is to choose your goal. Planning for a dream vacation or a bigger house? Invest more upfront to reach a short-term goal quickly. Thinking ahead for a new home, Quinceañera or your retirement? Time is on your side. A little goes a long way, especially when invested over a long period of time.
3. On How To Make It Happen
A habit is an action made without thinking too much about it. All you need is a reminder. For instance, when you’re ready for bed, you brush your teeth. Your dentist might also send you a postcard reminding you that it’s time for a checkup. Finhabits will help you get into the habit of investing, with easy cues to set money aside.
4. On Investing Your Money Smartly
It’s better to invest small amounts over a long period than a large amount one time. So, the sooner you start, the better. Make sure the money you invest is money you won’t need for at least a year. Leave it alone to give it time to grow. Why is it good? Think of a snowball rolling downhill-- that’s compounding. You’re making money on your money.
5. On Old Myths About Investing
Investing can be risky but there are ways to protect yourself. A good way to start is to educate yourself about what's true and what's hype. Investing is a smart move for most people, so learn about how it can help you protect your money against inflation and even save on taxes.
6. On How to Get Started
Taking care of your finances is like taking care of your body, your house, or your car. It’s all about developing good long-term habits and sticking to them. Make a commitment to get into the habit of investing, and share your goals with your family to help you stay on track.
Looking to get into the habit of investing? Learn more about how you can start with just five bucks a week at Finhabits.com. With our service available now, investing has become easier and simpler. And we’re here to answer questions. All you have to do is get in touch with us.
This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The information and opinions contained in this post are derived from proprietary and nonproprietary sources deemed by Finhabits to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Finhabits, its officers, employees or agents. This post may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this post is at the sole discretion of the reader.