Wednesday, November 20, 2019

Talk about how you save up money.

Everyone says that saving money is just as important as earning it. But it's not as easy as it sounds. I have made some ground rules for myself. I try to put into savings at least 30% of what I earn. The most effective way is to use an installment saving account. Each month, as soon as I get my salary, I have set things up so that a certain amount is transferred automatically to my account. I have two of these installment savings accounts. I have been depositing money in them for a few years now. I've saved up a sizable amount of money. I swell with pride when I see my bank balance increase a bit each month.

Talk about various ways to invest our money.

There are many ways to invest money. Putting money into a savings account is safe. However, the interest rate is so low that it's hard to earn much. Another method is to invest in stocks. But it's more common to take a loss in the stock market than it is to earn a profit. You have to invest with caution. Making long-term plans and investing in stock funds is another route to take. It's best to visit a stock firm, get a consultation, and invest in a fund that's right for you. Real estate is also considered a risk-free asset. It's good way to earn a profit. But it requires a lump sum at first, and it takes a long time to earn returns on your investment, so you need to do your homework.

Hey, did I tell you? I've started investing the stock market.

That's great! It's hard at first, but it's great way to make money.

I haven't invested much so far. I'm scared I'll loss it all.

You have to start somewhere. Let me know if you need help.