Best use of time

[robby]

I have about an hour a day I can devote to the pursuit of making money. Would this time be better spent looking for the best investments or looking for ways to cut my current expenses?

[jacquelynrose]

Re: Best use of time

I would try to SAVE and MAKE money at the same time.

Jacquelyn

[jmjj215]

Re: Best use of time

Hmm, I'd disagree just a bit. Really focus on one until it's habitual, then focus on the other. When you only have an hour per day, I wouldn't recommend splitting it?

[PrincessPerky]

Re: Best use of time

For me personally it would really depend on my mood, I don't do well looking at frugal tips when I am tired of it, so then it is best to focus on something else.

[gakline]

Re: Best use of time

If you have additional money to invest, then I would say research institutions and options. Otherwise, maybe you could try trimming your expenses till you have money to invest.

[terry1156]

Re: Best use of time

I think it really depends on where you currently are in your life. If you have been frugal all your life and there aren't many expenses to be trimmed, then the investing is the way to go. If you haven't spent time on either, look at trimming expenses first. The return will be much much higher there to begin with.

Once you have your expenses down then it's time to research investments more closely.

This doesn'tmean do nothing with the money you have. Stick it into an ING or similar savings account, place it in an index fund or something simple that you don't have to spend more time on once you have done it.

[rjn]

Re: Best use of time

Tough question. With an extra hour per day (after family, friends. pets), I'd recommend taking the time to find something that you are interested in pursuing. Some people love to learn about investing or ways of saving money or budgeting or ways of making money. My recommendation is to find something that you are interested in and pursue it. In the long run, this is likely to provide you with the best reward.