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| How to invest Money |
First, it is good that you start to look for the way to invest your money at the start of your very first job. Your bright future (in term of financial stability) is start from very young age. At the age like you, you should start with how to optimise your SAVING (save out of every penny you earned) then to understand how to INVEST your money. Make out your monthly budget my categorised your expenses into fix expenses (car/house loans, insurance etc), Variable expenses (electrica/gas/water bill etc.) and Leisure expenses (entertainment, food, travelling, etc.). How much you can safe per month from your variable and leisure expenses? start your record and monitor regularly. Open a bank saving account and start money saving journey by putting all your saved money into the bank monthly. Once you have enough money (RM 1000 and above) then transfer your money to fix deposit which you can have a higher interest gain (normally 2.5-3.5 %) compared to saving account (0.5-1%). Fix deposit, the interest return can only make sure that your money would not be devalued byInflation rate of 2-3% in Malaysia, in other word, maintain your money present value in the future (purchasing power).
Only now back to your question on how to INVEST your money. If your country inflation rate is, say 2.5-3% then your have to find a financial intrument that have a return (at very least) more then inflation rate. Investment can come with many form ranging from fix deposit, Insurance, bond fund, government bond (Wawasan 2020, ASM and etc. in Malaysia), mutual fund to equity share and property (land, houses and shotlot). Start with the safer and lower risk investment which is insurance and bonds which normally have interest yeild of 4 - 7 %. When you have more or extra money then you can go for reputed mutual fund and equity which composed of higher risk.
Most importantly don't become a credit card debtor (using future money) where most of the youngsters being strapped nowaday. Do you know that Credit card companiescharges 11-19% of the money your overdrafted annually. Another advise is get yourselves a house (property investment)once you have the money work up. House is not only our basic necessity but also an appreciated asset and will force you to work hard and dump your money to it instead of spending the money else where....
The best way is to follow the basic of investing. It might take you long to grow it but it is safer than other fly by night investment.
How to Make Money
1 comments:
Hello,
My name is Marc Brown. I am a financial writer as well as a skilled coupon clipper, a Dad, and the frugal gatekeeper of my household. I am trying to build up my portfolio and would love to post as a guest on your site. Frugality, debt, budgeting, personal finance, and managing the household have always come naturally to me and it’s something I really enjoy writing about. I would be glad to come up with something unique and interesting to contribute to your blog or write about any ideas you may have for a guest post.
Should you publish my post, I’ll be happy with a simple attribution with my name and the site I co-author. Let me know what you think and what topics you are looking for that you haven’t already covered or I can just come up with something unique that hasn’t been done yet.
I look forward to hear from you.
Thanks so much!
Marc Brown
marcbrown2050@gmail.com
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