Thanks to the money-making twins you know that savings protect your money while investments grow your money. Money that you’ll need in the next few months or the next five years, goes to Savings. But you can make find ways to make Savings work a little harder.
The reason saving and investing are so different has to do with what the money does when you’re not looking. Money in a savings account keeps being money. Money you invest, however, becomes an asset.
You want to keep some of your money safe in case you need it, but you want to put some of your money to work so you can stop working. Deciding how much money should go to investing, and how much to savings, depends on one question: When do you need your money back?
Saving and investing are similar, but do different things. Pretend they’re twins – one an entirely forgettable accountant, the other an adventurer who met Madonna
At the heart of all Exchange Traded Funds are businesses operating in their different fields. They make profit and so do we.
There are only four things that can prevent you from achieving financial independence. Luckily they can all be overcome if you understand them, and they are all really easy to understand.
Financial change happens one pay cheque at a time, but there are many things we can do between pay cheques to ensure we are better at our finances from one payday to the next. Consider this your how-to guide for financial discipline.
Creating wealth becomes easier when you have access to people who can point you in the right direction. However, acting on every piece of advice you receive will likely lead to poor choices.
Working out your spending and saving ratios help you identify how much of the time you spend working to pay other people, versus the time you spend working for your future. By combining their spending and savings ratios, couples can help improve their financial position over time.
While not all major life choices can or should be financially motivated, a financial health check-in prior to life-changing decisions is a great way to prepare yourself.
