START INVESTING!
Investing and saving: by ahidee zavala
why should you invest and save?
Saving and investing are both important. when you save your money you are keeping it save and you will have money when you need it. when you invest your money, it will be a low-high investment. When you invest, the economy grows and so does your money according to the type of investment you made.
TIPS ON SAVING : Having A Budget, Set Long Term Goals, Know Your Options
HAVING A BUDGET
Having a budget is essential if you want to have control over your day to day finances. To set a budget you must calculate your monthly income and expenses. Having a budget will allow you to save money ad at fist it might be difficult to put some money away but later, it will be worth it.
SETTING LONG TERM GOALS
we all have goals for the future. We might want to buy a new house of new car. Maybe we want to travel the world or have our own business. Whatever our goals may be they will acquire money. setting money aside now to cover expenses for later is saving for your future.
RETIREMENT
Saving can help you when you retire. Even though retirement is still far away you should be thinking on what you will live off of when you stop receiving paychecks. Saving your money now can be a great help for hen you retire. you won't have to worry for money because your would have a good amount of money saved or invested. The earlier you start the more you'll end up with.
Investments
There are many types of investments that are available to you, but there are stages that you must complete before getting to a certain investment type. There are 5 stages of saving and investing .
1) Put-and-take account
2) Beginning to invest
3) Systematic investing
4) Strategic investing
5) speculative investing
If you would rather prefer to have low risk investments there are some that have a low risk. The lower risk investments include a Savings account and a checking s account. if you would like to get a higher return you would like to make a high risk investment. The higher the risk the more return you will receive and the lower the risk the less return but the liquidity is higher.