Time to either invest or save
INTRODUCTION
H E T H E R y o u ’ v e been working on your f i n a n c e s f o r y e a r s o r
WTHE situation is a bit shaky economically, thats your excuse really? Try a better one. There has never been a better time to invest as good as now. Throw your fears out the window, if you ever dreamed of owning the size of the pie, this is your chance take the jump.
Someone once said to me, “Do not wait to have ‘ enough money’ because honestly you might never have enough money – so take the little you have and put it towards that i nancial goal you want to achieve.” You can start small but so long as you plan to end up big, that’s the right motivation right there.
Experts estimate t hat 40 per cent of people have experienced a inancial loss due to procrastination. By waiting to invest, you could be missing out on some potentially sweet inancial gains. Exclude yourself from this group by acting smart and considering these factors;
The time is now
NOT everyone t hough i s willing to take that much risk of investing. Relax, if you are not prepared for this leap jump you can save.
Remember its best to make hay while the sun still shines, so can you make saving the top of your inancial priorities.
Here are few saving tips; Warren Buffet says, “Don’t save what is left after spending, but spend what is left after saving.” Have a stipulated amount that you have to save; after you have put it away in your savings then you can spend what is left. Saving your money will save you The unexpected usually happens i n t he worst t i mes when i nances are not at all l ooking you’re just getting started, it can b e d i f f i c u l t t o k n o w when y o u should be saving and when you
You are probably wondering if you are inancially ready or isn’t it early for someone your age to start investing. Don’t fret— you can become an investor at any age, but every second you wait, you’re giving up your greatest asset: time. Bonus: by investing when you’re younger rat her t han t r yi ng t o sock away larger sums of money later in life, you give your money a chance to work “smarter” instead of harder.
Compound Interest
You have compound interest to look forward to. This is the addition of interest to the principal good. At such at time, instead of taking out a loan – check out your savings and consult your inancial advisor on how you can tap into t hese f unds. S av i ng a c c ounts usually have partial withdrawals options.
Saving means you can take should be investing. But there will never be a better time than now, to either invest or save. The thought sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.
Bren Franklin says “Your money makes money. And then you make more money on the money your money makes.” Doesn’t that sound good?
Opportunity to take control of your future
We all know the future is uncertain, it can come with wrecking ball. If anything, we have realised calculated risks
“Part of the bene it of saving money is to build cash reserves so you can take calculated risks with less worry,” stated Robert Johnson ( bankrate. com). If you don’t have any savings, it may be harder to pursue certain passions. Take startof investing or saving is fretting, but we plan to allay those fears today and give you something to that i n the past few weeks and maybe to see more of it. But with a safety net somewhere, it becomes easier to maneuver around these wrecking‐ balls and stay a l oat. Why? You investment is your safety net when your stable income pulls a stunt or two.
Like Warren Buffet says never depend i n your i ncome, i nvest your i ncome to make a second source. It is this source that will be your safety net. Robyni Conti wrote on earnest. com, “There’s something empowering about telling your money where to go. Rather than spending it, or worse, not knowing where your money is going, by investing, you’re giving your dollars a “job” to do— make you wealthier over time.”
Earn higher returns
A certi ied inancial planner said, “In order to grow your money, you need to put it in a place where it can earn a high rate of return.” The higher the rate of return, the more money you will earn. Investment vehicles tend to offer the opportunity to earn higher rates of return than savings accounts. Do take your time to shop around for an investment that will give you higher return value. Remember the aim of this investment is to grow your money not to stash it somewhere.
ing a business, for example. To be a small business owner, you’ll need inancial backing to get it off the ground.
Loyalty cards
Sign up for these as a whole host of retailers, restaurants and supermarkets reward customers by allowing them to build points every time they make a purchase. These points can be converted into money- off vouchers. Many cards also offer once- off deals or discounts in order to tempt you into signing up in the irst place. In the country a number of shops have loyalty cards Clicks, Spar, Pick’n ‘ Pay, Ok Stores, etc.
If you are hoping to save, these should be your irst stop. They usually have a number of bene its for loyalty card holders such as lower prices and competitions. look forward to. Plus, we give you t i ps on how t o stay f ocused on your financial goal.