the daily frugal ep 10

Good evening!
Just filmed 3 new videos for you guys last Friday. And the first one is out today!

DEFINITION
Mutual Fund

• If you zone out at the sight of the word “mutual fund,” it’s okay. They’re not as complicated as they seem. Mutual funds are a great way to invest for your retirement. But PLEASE DON’T invest in anything without learning more about it.

• Picture this: a mutual fund is like a big pot of money collected from lots of people who want to invest. This money is managed by professionals who use it to buy different types of investments, like stocks and bonds. When you put your money into a mutual fund, you own a small part of all the investments in that fund. So, if the value of those investments goes up, your money grows too, but if they go down, you might lose some money as well. It's a way for people to invest together and hopefully make more money over time.

• Read more about this from a simple article by Ramsey Solutions

PRACTICAL ADVICE
Keep your overhead low

• I was about to sign on a filmer that would’ve cost $600 a month to my business. And I decided not to move forward, because I can get the job done myself. I’m definitely not as good as a pro videographer, but I can do the job until I’m in a place financially where I can commit to outsourcing this for the long-term.

• It’s also not fair to the filmer, because I don’t want to be pinching pennies (especially when this very skilled filmer is also a friend).

OUR COMMUNITY
What are your questions? Or share a win!

• Reply to this email with any personal finance question you have, or share with me any wins in your life! (I’ll respond to your questions anonymously in future emails)