Some people hesitate in starting to invest because they worry about losing their money

Or think they have too little to invest. Even if you have big student loans, credit card debts, and are thinking of getting a payday cash advance to see you through to your next paycheck, you can start investing with only $100 in many cases. Here are some steps to take:

1) Pick three resources to help you understand investing. For example, talk to someone in your bank’s investment department, read a book about investing and see a free library talk about beginning to invest. Set a date when you will start investing (no more than 30 days from today). Setting a deadline ensures you will take action.

2) Open an account or start putting aside money in some fashion so you will have money to invest. You can start with $100, but it may take you a few weeks to get there. That’s ok – start saving.

3) Open an account. To invest in some things, you will need to open an account. Your bank can help you set up a mutual fund account, for example, where you can start putting in money to invest. You can also find a trade broker who will help you buy exchange-traded funds (ETFs), stocks, and other things you can invest in. Look for a broker who is willing to work with no minimum account size and a broker with a low commission rate.

4) Start tracking your progress. Investments sometimes make money and sometimes lose money, so don’t start moving around your investments all the time. But do check in on your investments from time to time and develop a good budget so that you can put some money into investments each month.

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