Let's talk about savings and investment at this time. When you heard those words, what did you feel about it?
One thing I know is that both investment and savings help you secure your present and future financial security. It prevents you from being in debt. It will provide what you need and wants too.
-referred to as the leftover of your income that you can use for investment.
-financial assets that could generate income and profit in the future.
Importance of saving and investment
It helps you to prevent debt.
It will help you to become ready whenever there are a financial emergency and sudden expenditures.
It will benefit your family and loved ones once you're gone.
Can reduce your financial stress and pressure.
You will be able to live stress and worry-free.
It will help you to be independent.
You don't have to worry in case you lose your job.
Different kinds of investment:
Housing or Real Estate
Pension or Retirement Fund
Stocks or Shares in the market/company
Cash and properties
Small Business and Cooperatives
Cryptocurrency and Trading
You need to learn how to manage your savings and investment. Don't let others take responsibility for your properties.
Many people are rejecting and don't even try to save because they have a regular job. They don't know the advantages of being financially prepared especially this time of pandemic that hit us hard. Maybe many of you are guilty at this time. If you could just bring back the time maybe you save money a lot to be worry-free in the financial state.
Well, it's not too late. Save and invest now to get your finance more secure. Save at least 5-10% of your salary, allowance, and income. The most important part is you are ready for what circumstances comes your way. Don't get too excited about getting what you want but focus on what you need the most and save up. Don't rely on others, be independent. Savings and investment can save you in the future.
Every income earner should save just in case of trying times on the future.