Forget the stigma: anyone can invest, and there's no 'right time' to start doing it, either. Recent surveys have shown that people are getting into investing earlier in life. We’re seeing teenagers, students, and other young adults investing in cryptocurrency like bitcoin, as well as the stock market. In fact, the earlier we start investing, the more we can take a few risks without ruining our long-term financial goals.

Before we get started, here’s a quick disclaimer: these insights might not turn you into the next Warren Buffett overnight, but they can help you gather some expert tips towards putting a little extra money in your pocket.

Without further ado, let's dive into how you can earn some extra money through investments.

Money: Master The Game – Tony Robbins

On Uptime

Tony Robbins, the motivational maestro himself, gives us some insights on mastering the money 'game'.

1. Compound your interest in compound interest

Exponential growth is a mind-boggling concept. Especially when you look at its effect on compounding interest. 

Take for example the folding of the piece of paper to the moon story. Or how 10 years of early investing are worth more than 35 years of late investing. 

These are classic examples of how important it is to never underestimate the power of compounding interest. 

2. Reach financial freedom with goals 

Your goals should never be arbitrary. Your aim should be to reach the realistic amount of money needed for you to never have to worry about your income again. 

For example, if your investments can bring in $51,000 a year - the average annual spending of an American adult - then you’ll never have to work again. Doesn’t that sound great? 

Educate yourself on what number will give you financial freedom and let that be your goal. 

3. Diversify your investments

Variety is the spice of life. It also turns out to be pretty good financial advice. 

Robbins recommends 10% of your income as a good portion of your salary for investments. It should get you quite far, quite fast, without impacting your daily life. 

You should divide your investments into three groups: the safe option, the risky option, and the dream option. By diversifying your portfolio you should be able to accommodate growth without risking your finances. 

The Beginner's Guide To Investing – Erin Lowry

On Uptime

In this course, 'Broke Millenial' Erin Lowry opens the door for those of us who haven’t a clue what they’re doing when it comes to investing. 

You either master money or, on some level, money masters you.

1. Work smart, not hard

There’s a big difference between investing and gambling. Unlike gambling, investing is not a game of chance. It’s so easy nowadays to jump online and do your research to make sure that every option works for you. 

By doing your research into different companies and different sectors, you can diversify your investments. Spreading your stock options means that if one industry has a dip, your whole investment won’t be at risk. 

2. Rebalance your investments

The world of stocks and shares is a world of ups and downs. It’s also a world of risk. 

It’s up to you whether you decide to be a risk-taker or someone who prefers to play it safe. Lowry recommends splitting your investments into two sectors: risky stocks and safe stocks. 

If you like to live your investment life on the edge, then maybe you’ll invest 70% in big stocks and 30% in safe stocks. But if you see a dip on one end, it’s important to “rebalance”. Just exchange some of your larger shares into a safer stock until your investment starts to rise again. This means you’ve got a nice cushion to land on in case there’s a crash. 

3. Bonds: a safer investment?

For the more conservative investor, bonds can offer a safer and more predictable route. 

As a beginner; bonds are a great place to kickstart your investment portfolio. Having a safer start can give you the confidence to start working on expanding your portfolio later down the line. 

The Little Book of Common Sense Investing – John C. Bogle

On Uptime

John C. Bogle offers us a little book with some big ideas.

1. Financial prophets don’t equal financial profits

Just because a fund manager has an amazing year does not mean they can repeat the same thing next year. 

The stock market is a turbulent place that is constantly changing. What worked one year almost certainly won’t work the next.

Just jumping on the bandwagon of someone else’s recent success is likely to not get you anywhere. If the stock market was that easy to read, everyone would be rich. 

2. Put your money where your low-cost index is

If actively managing your money sucks, what should you do instead? 

Bogle recommends index funds as a great alternative. (He would say that after all, seeing as he was the creator of index funds.) But it’s still good advice. 

By mimicking what the Dow Jones does but with fewer quantities, you can essentially make the same profit margins that huge corporations make. 

3. Choose the cheapest fund

Sometimes your best bet is the cheapest one. 

There’s no need to go all out. Just put your money into a cheap index fund and spend a bit of time here and there to check on any price fluctuations.

"Don't look for the needle in the haystack. Just buy the haystack!

Reset Your Money Mindset – Tonya Rapley

On Uptime

Tonya Rapley shares some practical insights and strategies to help you regain control of your spending.

1. Do we own our stuff? Or does it own us?

Take a second and look at the stuff you’re buying. Why are you really buying it? 

Did you really need that designer watch? Did you want to buy it or did you feel pressure? Did you see it was on sale and thought it was too good an offer to miss out on? 

By examining what you spend your money on, you can get a grip on your impulsive purchases. 

2. Make money positive

To help reset your money mindset, you have to change how you think and talk about money. 

Instead of thinking you’ll never get out of debt, think to yourself that you have the ability and capability to become debt-free. Instead of saying “more money, more problems”, say “with more money I can positively impact the world around me”. 

Believe in yourself and believe in the impact that a positive attitude can bring. 

3. Don’t be your own barrier to success

Whenever you’re having a problem in life, picture a time when you felt the most fulfilled. This will remind you that you are capable of success. 

Money positivity and progress is a habit. It can be difficult, but it can also be as simple as being mindful of your purchases or reciting positive affirmations daily.

Whether you’re a teenager or a pensioner, it’s never too late - or too early - to start investing.

As with most things in life, it’s important that you do your homework first, and continue about each move carefully and rationally. Sure, Dogecoin and GameStop are funny, but are they the best investments? Maybe. But probably not. 

If any of these hacks caught your eye, take a deep dive into them in full with the Uptime app.

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