Three wise investments to save you cash
You’ve met those people – the ones that squirrel away their pounds and pennies for a rainy day, but never actually figure out when those rainy days will come.
They’re good people, those financial squirrels, but their efficacy with cash can only take them so far, and they haven’t realized one thing – great saving’s all very well and good, but great investment is where the road to success lies.
That’s right – you can save all your acorns for a winter that might never come, or you can put those acorns into something that will save you cash in the long run, and maybe even make a bit more dough along the way.
So, what wise investments can you make to give you greater financial freedom?
Well, take a few of these tips on board and you’ll have more acorns than you know what do with come that fated winter.
Plan for your death
Funeral prices are rising every year, with people now being warned that their send-off, according to The Daily Mail, costing an average of £7000 and rising every year. That’s why the prudent mind should invest in a funeral plan to make those future costs minimal ones.
Taking out a plan with a few monthly payments will stop your family from having to stump up exorbitant levels of cash come your passing.
However, don’t just go for any old deal – set up a funeral plan checklist that covers every eventuality for your passing, making the company that matches all of your criteria the one you make your investment with.
Invest in some strong companies
You’ve probably heard of the latest Martin Scorsese film The Wolf of Wall Street, in which corrupt banker Leonardo Dicaprio dupes his clients into making dodgy investments to make tons of cash for himself. Indeed, it’s the latest cloud to hang over the banking industry since 2009’s financial collapse.
But, don’t be fooled into thinking that wise investments can’t be made on the stock market. While piling cash into a company is always a risk on some level, the reward for the discerning investor be worth it.
But, don’t be fooled into thinking that wise investments can’t be made on the stock market. While piling cash into a company is always a risk on some level, the reward for the discerning investor be worth it.
Due caution should be taken whenever you put cash into a company. Research the business in as much detail as possible, ensuring that it’s foundationally strong and stable at the very least, while still likely to expand on its success.
Insure, insure, insure
Everyone has that creeping paranoia that something awful might happen to them, whether it’s being in an accident or having your home burgled.
It’s exactly the reason that you should look at insurance options of all kind, financially protecting you should any mishap occur. Travel, accident, life and contents insurance are all vital for shielding you from the lengthy process of replacing stolen goods or covering time off work, and will keep you more financially stable in the long run.
