Investing – Side Businesses and Entrepreneurial Ventures

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I’ll be sharing my personal tips to help anyone looking to start their budgeting and investing journey!

Investing is a big decision to make. In my blog post, Saving and Investing, I talk about different investments you can make; but right now, I want to specifically cover investing in a side business or entrepreneurial venture.

Things to Consider

Having a side hustle takes a lot of time and energy. Many people hope that they can make money immediately, as they would working at a 9 – 5 job, but that’s sadly not necessarily the case. If you are someone who has figured out how to make money quickly, that’s awesome and I’m so happy you were able to make something work for you!

Now before you decide to jump in and invest your time, money, and energy, ask yourself a few questions:

• Do I have the time to put work into my business?
• Businesses take time to build… will I be patient and push through the tough times to reach my goals?
• What are my goals in the business?
• What do I want to get out of it?
• Do I have a niche?
• Will this appeal to my ideal audience?

These are just SOME questions to consider.

High Ticket Investment

Although it has been hard work, I have been so blessed to have a Kangen Water Machine that I invested into.

Check out my Instagram and Facebook page to learn more about the Hydrogen-rich Ionized Water Machine and find out how you can invest in one for yourself!

Investing into this machine was a decision I really sat down and thought about before I jumped the gun. You don’t want to invest in something that could have the potential to not benefit you in any way and waste your money, but when you find out it can benefit you in more ways than you imaged… GAME CHANGER.

Here’s how I was able to invest in a high dollar product –

I knew I wanted this machine, so I made it happen. I told myself, this is something you want so you’re going to budget for it. I asked myself, how long am I going to take to purchase this item? Can I incorporate an amount to set to the side per paycheck until I have the funds? Perfect.. let’s get started.

First, I determined all monthly expenses and put them all in a excel spreadsheet. To learn more about how to create a budget, check out my blog post How to Budget Your Money.

I subtracted all my expenses from my monthly salary.

I looked at my credit cards to check the limits, APR and debt, to determine how much I still needed to put to my credit cards to not hurt my credit score.

The money I have left over would be for either my investment or savings. A side note, I always like to put something in my saving account, even if it is not much. That money will still grow.

Whatever I could afford to spare is what I used to purchase my K8.

Sounds simple enough, but again just like saving, you need to discipline yourself.

TIP* If you’re a person who likes to go out to eat or drink or hang out with friends, limit yourself to a certain number of days for the month until you reach your goals.

My boyfriend and I generally cook at home and choose a day on the weekend that we want to go out for dinner. We remember, this is only temporary.

If you add up the amount of times you go out eat to the cost of the meal, you find out how much more you can save if you just cook at home. For example:

In 2023, a couple dining out can spend anywhere from $40 to $150 or more, depending on the restaurant or area you’re in. Let’s say you spend $50 each time you go out to eat and you eat out at least 4 times a week:

$50 X 4 days = $200

Whereas a couple can spend anywhere from $100 to $300 on groceries for the week, depending on the store and area you’re in.

 

Try this and compare how much you’re able to save by not eating out as much. Let me know in the comments if you tried this! Once you hit your goal, you’re going to feel amazing!