Monday, July 6, 2009

Buying Gold on a Budget


People always say, I can't afford to invest in gold; that's for the rich folks. The fact is gold is for everyone, but it's true gold is costly. But, not so costly that the average person is blocked out. All it takes is some personal budgeting and proper money handling.

First, itemize your spending. Look at what is going out and what is coming in. Decide if some of the out money can be transferred into a gold fund. By doing this it won't take long to build a money fund capable of buying gold.

Second. most Americans are investors correct? So, if you are fortunate enough to have a few stocks on the upside, roll over some profits and put them into a gold fund. This can also work for a stock over-performing.

Third, buy one American Gold Eagle at a time. The Gold Eagle is a great gold bullion option and is easy to purchase. Yes, it is costly, but worth it.

Lastly, physical gold is not the only option. Get an account at Sharebuilder.com or some other online investment firm and begin investing in a gold ETF. This is a great way to invest in gold, without the high cost of physical gold.

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