Greetings to the proudly hivians, Trust we're doing great? I'm here again this night to share my thoughts on this topic called Savings And Investment. I'm sharing my thought on this tonight because I've encounter some things with some people around me and that prompt me is sharing my opinion on how we can save and invest, because this two things are very important if we want to move forward in life and also have financial security, so follow me as i'll be writing on this...i belief reading my entry on this will go along way if we can apply what we will learn here
Money is an important part of life. Whether you are planning for emergencies or working toward big dreams, learning how to save and invest can make a huge difference in our life's. This will make me explain how we can start saving and investing, step by step in a way that is simple and practical
Having said this, I think the first thing we need to ask ourselves is " Why save and Invest?"
Life doesn't always go as planned. Unexpected expenses pop up, and we all have goals like buying cars, building home, traveling, or retiring comfortably. This is where investments and savings comes in. There's no way you will be able to buy anything at any time when you don't have savings, and there's no way you can invest if you don't have savings. To me I'll say, savings is number one and it should come before investment. Reason is, there's no way you will be able to invest if you don't have enough in your savings account
Let me share with you secret about how to save in a easy way. First thing you should know and monitor if you want to have a good savings is to make a budget. Write down how much you earn and how much you spend. Use the 50/30/20 rules. (50% for needs like food, rent and bills; 30% for wants like funs and entertainment;& 20% for savings) doing this three things I mentioned will always help you in saving up, no matter what
Also when savings, you also need to use a savings account that gives you a good interest rate and you can aswell try fix deposits if you don't need the money immediately. Doing this will also help you in saving
Now let's talk on how you can invest!!!
After you've saved some money, it's time to start investing. Investing help your money grow and protects it in losing value due to inflation. There are things you can invest on that appreciate more and give more value in the nearest future. Examples are Land property, Real estate. This two are good example of things you can invest on and will continue yielding good money for you for life. What you just need on this is to know your risk value, don't invest on things that will make you lose your money. Also learn on how to out your eggs in many basket, putting your eggs in just a basket might put your money at risk. I can assure you if you can follow this steps, you will surely be amaze with your result at the end of the year
My final thought on this topic is that, Savings and Investment takes time, but the results are worth it. And the key to financial success is starting small and staying consistent. Don't be afraid to start small, you will build up over time and achieve what you want!!!
