Before investing a previous step is necessary, save! As a general rule, the money you dedicate to the investment must be the savings that you have obtained and that, in principle, you do not need in the short term.
If you have not started to save, we leave you some tips and advice for you to get to it.
How to save and invest
Saving is a generalized purpose but that few people achieve, either because of the economic situation of recent years, due to lack of foresight or due to the absence of a strategy.
However, you can start saving with small gestures. We tell you some:
You can select a small routine that you consider expendable and save that daily amount , it can be a coffee, walk instead of taking a bus or just that euro that you carry in your wallet.
Propose a savings plan , several techniques for small savers have become famous, choose the one you see closest to your pace of life:
- A piggy bank has always been the emblem of saving. Keep the money from that canceled plan, a daily euro or the money you keep in your wallet at the end of the week in the piggy bank. The important thing is that you are constant and do not try to save only at the end of the month.
- The 52-week challenge is another saving method that went viral. It consists of saving the first week one euro, the next 2 and so on until reaching 52 euros which coincides with week 52. You can also do it in reverse. That is, start saving the largest amount to end up with one euro. With this technique you will save a total of 1,378 euros.
Sounds good, right? Once you’ve got the hardest part, don’t let your money lose value, invest it and start generating more income.
How to invest savings
First, determine what type of investor you are. Not all investors are equal, nor do they have the same objectives, and most importantly, they are willing to take the same risks. So take some time to be clear about your strategy.
How can I invest my savings
How to invest my money? If this is the question you ask yourself the most, you are in luck, the chances of investing your savings are increasing.
Here are some common tips for all investments:
- Determine the money you want to invest. It doesn’t matter that you start with a small amount, now the investment possibilities start from very little money.
- Consult the investment possibilities and select the ones that most closely resemble you. Diversifying into several products will minimize losses.
- Set the term of your investment. You can invest your money in the short term or make a long-term investment. Depending on the time period you plan, you will need the money invested.
How to invest small savings
Many people believe that not having a large amount of savings is at odds with the investment. There are investment products, especially the most traditional (for example, investment funds), which entail a high initial investment that usually ranges from 1,000 euros to 100,000 euros or even much larger amounts. This scenario changed with online investments. Thanks to the democratization of financial products and new products online, investing little money is easier than it seems. For example, in Good Finance you can start your investment from € 50. We tell you how to invest in Good Finance in detail later.
If you keep looking for the answer to how to invest savings well? Or how to better invest the savings? We have bad news, there is no universal formula, however you can follow these small steps according to your investment profile to find your ideal investment strategy.
How to invest savings safely
The priority of beginning investors and conservative investors is not to lose money, therefore they seek to invest savings safely.
How to invest my money without risk? If at any time you have asked yourself this question, we tell you some of the safest investments in the market.