How good are you with your money?Take this 2 minute quiz to get your financial wellness score!
Click Here to Start*Bonus: Learn about my new book, Get Good with Money

LRC Net Worth Edition, Day 11: Investing

LRC Net Worth Edition, Day 11: Investing

By Tiffany Aliche -  Tags: ,


New to the Live Richer Challenge: Net Worth Edition? Learn more about it HERE.

Missed some of the Challenge tasks? Catch-up then come back…

Day 8: HEREWays to Increase Net Worth

Day 9: HEREThe Art of Negotiation

Day 10: HERE: Entrepreneurship

Week 2: Increasing Your Net Worth

Today’s Easy Financial Task: Start investing your money to grow your net worth.

How to rock this task:

  • Learn why investing is essential for growing your net worth
  • Take one step towards investing today

Welcome to Day 11, Dream Catchers!

Today, I’m going to teach you how to become a beginning investor!

Remember how net worth is calculated:

Your Assets - Your Liabilities = Your Net Worth

We’ve talked about putting money into savings and repaying your debt so far.

It’s time to discuss investing.

Investing is when you devote money into funds or activities that will earn you returns or profit. Saving cash in an emergency fund for rainy days is very necessary. But money in a basic savings account is an asset that may earn you very limited (if any) return from interest.

On the other hand, investing in assets like stocks, bonds, retirement funds, and more can increase your net worth exponentially.

Today, I’m going to share two steps you can take to get started investing.

***Before moving forward, I do want to mention that investing in anything (stocks, funds, etc.) comes with risk. Please know that the resources in today’s task are meant to inform you. The choice of where you want to invest is solely your own.**

Now let’s move on!

Automating Your Investments With Acorns

If you're a newbie and unsure how to start investing, Acorns is a robo advisor that has a very low barrier to entry for new investors.

Robo advisors are systems that automate investing for you after you deposit money into an account.

Here’s how Acorns works:

Acorns invests your change for you and this change can add up quickly.

You tell Acorns your age, income, and investments goals and the app recommends an investment strategy. Acorns invests your change in ETFs from six asset classes.

ETFs are bundled funds that can be made up of stocks, bonds, and other assets. The type of asset mix that Acorns chooses for you will depend on your answers to the initial questionnaire.

How to Get Started With Acorns

Acorns connects to your bank account and transfers money into your investment account automatically. Here’s how to get started:

Step 1: Download the app for free HERE.

Step 2: Sign up for an account.

Step 3: Link your bank account.

Every time you make a transaction with your bank account, the app rounds your purchase up to the nearest dollar and invests the change.

You can also transfer $5 to $50,000 extra into the account whenever you want!

Acorns is a good way to put a little extra money into investments alongside your other retirement accounts such as an IRA or 401k that you have with an employer.

Acorns does come with a fee. Most robo advisors charge a fee to handle your account, so this isn’t out of the ordinary.

  • The fee is $1 per month for accounts under $5,000
  • The fee is 0.25% per year charged monthly for accounts over $5,000

If you’re a college student with an .edu email address, you can have your management fees waived for four years.

Watch a FREE Stock Investment Q&A

Signing up with a robo advisor like Acorns is a hands-off approach to investing.

What if you want to take a more personalized approach to investing your cash?

I have a solution for that, too!

Alanya Kolberg is one of the AWESOME instructors that teaches a course in my school, the Live Richer Academy.

Alanya is a self-taught stock investing expert. In her course, Investing: How to Buy Your First Stock, she gives you step-by-step instructions on how to:

  1. Open an investment account
  2. Choose an investment strategy
  3. Evaluate stocks
  4. Make your first stock purchase

She recorded a FREE Q&A introduction video about stock investing.

You can check it out below.

Side note: Enjoy this video? There’s a lot more where this came from. In the Live Richer Academy, teachers like Alanya bring you courses on topics like investing, homebuying, starting a business, and much more! Learn more HERE.


Your Tasks

Today, you have a choice to take action with one (or ALL) of these things...

    • Look into robo advising via an app like the Acorns investing app HERE
    • Watch the Q&A with Alanya to get started with stock investing on your own

This action element is important. Gaining knowledge about investing and increasing your net worth is GREAT.

But taking action is what’s going to ultimately lead to you building wealth!

That’s it for today!

Share what you’re doing today with your friends on Twitter!

Today, I took a step toward INVESTING and increasing my net worth! Day 11: #LiveRicherChallenge #LRCNetWorth Click To Tweet

If you have any questions, hit the comments below or reach out to the other Dream Catchers in the Live Richer Facebook Forum.

Don’t forget to keep tabs on your accountability partner(s)!

Teamwork makes the dream work.

Live richer,


You can reach out to me here:

Twitter: @thebudgetnista

Instagram: @thebudgetnista

Facebook: The Budgetnista

Private Forum: Dream Catchers : LIVE RICHER

P.S. Don’t forget to get your free Live Richer Challenge: Net Worth Edition Starter Kit. GET IT HERE.

P.P.S. Here’s a copy of the Challenge Calendar. It’s a fun way to keep track of your progress.

LRC Net Worth Calendar

Want to work through the Live Richer Challenge: Net Worth Edition in a workbook? It's part of a bestselling series!

Click the link below and get your copy.


My Lisa Rule: I have 4 sisters and Lisa is the baby (well she’s not a baby anymore). Of all of my sisters, I’m the most protective of her. Before I share any product or service with you, it must pass my Lisa Rule.

What’s the Lisa Rule? If I would not advise Lisa to use a product or service, I won’t advise you to. YOU are my Lisa. I feel protective of you and your financial journey.

Acorns passes my Lisa Rule. Yes, I am an affiliate of Acorns, and I earn a commission from referrals, but I would not recommend a product or service that I didn’t believe was helpful and useful.

Get FREE Weekly Goodies!

Join the mailing list to get FREE weekly budgeting goodies directly to your inbox.
Tiffany “The Budgetnista” Aliche is quickly becoming America's favorite, personal financial educator. The Budgetnista is also an Amazon #1 best selling author (The One Week Budget and Live Richer Challenge), sought-after speaker and teacher of financial empowerment.
DISCLAIMER: Please read this Disclaimer carefully before using the Website (the "Website") operated by CLD Financial Life ("us," "we," "our") as this Disclaimer contains important information regarding limitations of our liability. Your access to and use of the Website is conditional upon your acceptance of and compliance with this Disclaimer. This Disclaimer applies to everyone, including, but not limited to: visitors, users, and others, who wish to access or use the Website.

By accessing or using the Website, you agree to be bound by this Disclaimer. If you disagree with any part of this Disclaimer, then you do not have our permission to access or use the Website.

Tiffany “The Budgetnista” Aliche is not a lawyer, accountant, credit analyst or investment broker. Information Tiffany Aliche provides during her presentations is for informational and educational purposes only. Tiffany Aliche assumes no responsibility or liability for any errors or omissions in the content provided. The content Tiffany Aliche shares in this video, workshop and/or presentation is provided on an "as is" basis with no guarantees of completeness, accuracy, usefulness or timeliness. The information shared is from Tiffany’s personal experience wherein she increased her credit score, reduced her taxes, increased her earnings and shifted her business organization. Any reference to credit scores that “Jump like Jordan” should be taken figuratively—not literally. Any reference to credit scores that Jump like Jordan is not a guarantee that your score will increase similar to Tiffany Aliche.

Tiffany Aliche’s personal success is not a reliable indicator of future results. It is very important to do your own analysis before making any financial, legal or accounting decisions based on your own personal circumstances. You should take independent financial advice from a professional, or independently research and verify any information before implementing any information that Tiffany Aliche shares and you wish to rely upon.

Affiliate Disclaimer: We participate in the affiliate advertising program, which is designed to provide a means for us to earn fees by linking to their products or services on our Website. The fact that we participate in this affiliate program means that compensates us for the inclusion of links that are clicked on and our reviews.

Changes: We reserve the right to amend this policy at any time without any prior notice to you.
© Copyright 2020 - The Budgetnista Blog - All Rights Reserved
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram