Should I save up or invest? - Colegio El Roble en Interlomas Estado de México.

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Blog Roble

Ponte una meta a corto plazo y que sea alcanzable

Throughout our lifetime we have felt the joy of having a new toy. Maybe when we were younger having a new car was what got us excited, and with age maybe it was a new home that fueled our drive. Just like how our interests progress with age, the opportunities that come and go also change with time. We must learn to recognize what phase of life we are in and what that means for our finances.

The universal rule for saving money recommends a 50/20/30 split. This means that 50% of what we earn should be used for daily and common expenses, 20% is meant to be saved and 30% is left for personal expenses.

We can foster the desire to save money in the following ways:

Set a short term goal for your savings that is reasonable and reachable

If you can’t adhere to the 50/20/30 ratio you must set one for your life that is sustainable. Be constant!

Busca maneras en donde no puedas tocar ese dinero, desde una alcancía, cuenta bancaria, pagaré bancario, CETES directo, caja de ahorro o hasta una tanda.

Look for ways in which you can not touch your own money. Be it a piggy bank, bank account, bonds, or a savings account.

Analyze your spendings and look to see where you can trim excess fat.

Remember that you cannot touch your basic spendings

Steer clear of impulse purchases!

Saving money is also achievable by reducing spending on light, gas and water bills

If you have money left over from your 50% make sure to save it instead of finding something to spend it on

If you’ve already made the habit of saving up money, that means that you’re ready to invest your money. Investing can be geared towards medium and long term results and has a goal to deposit your money in a place that gives you a return. That same investment with the right interest rates will generate more income.

There is no “right age” to learn to invest your money. You should begin as early as right now and in the following list I'll provide a couple of options for investment:

Invest in life insurance:

The longer and the more amount of money that you can invest, the greater the reward will be for the benefactors who cash out

Voluntary investment.

This is the type that is not forcefully linked to a constant deposit, rather you can deposit as you see fit. There is no minimum or maximum amount required. In the short term modality you can withdraw your money within two to six months of having invested. And when it is long term investment you will receive larger yields on your money.

Trust funds (education)

At the end of the day what matters is generating more financial confidence and awareness so that you know where your paychecks are destined for, what projects are of your interest for future growth and ultimately learning to value money as a rational tool, not an emotional one.

Real estate:

Investing in properties to flip and resell at a more attractive price than what you purchased it as. Or it can also be an attractive opportunity to rent that property.

Invest in yourself!:

Through investment in certificate programs or other forms of advanced learning you will acquire more tools to be able to multiply your earnings and assets in the future.

At the end of the day what matters is generating more financial confidence and awareness so that you know where your paychecks are destined for, what projects are of your interest for future growth and ultimately learning to value money as a rational tool, not an emotional one.

Araceli García Cronque
Contadora Colegio El Roble

Reference:
https://www.expansion.com/ahorro/2016/08/20/57b5814e46163ffd6a8b4605.html

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Blog Roble

Ponte una meta a corto plazo y que sea alcanzable

The universal rule for saving money recommends a 50/20/30 split. This means that 50% of what we earn should be used for daily and common expenses, 20% is meant to be saved and 30% is left for personal expenses.

We can foster the desire to save money in the following ways:

There is no “right age” to learn to invest your money. You should begin as early as right now and in the following list I'll provide a couple of options for investment:

Invest in life insurance:

The longer and the more amount of money that you can invest, the greater the reward will be for the benefactors who cash out

Voluntary investment.

Trust funds (education)

At the end of the day what matters is generating more financial confidence and awareness so that you know where your paychecks are destined for, what projects are of your interest for future growth and ultimately learning to value money as a rational tool, not an emotional one.

Real estate:

Investing in properties to flip and resell at a more attractive price than what you purchased it as. Or it can also be an attractive opportunity to rent that property.

Invest in yourself!:

Through investment in certificate programs or other forms of advanced learning you will acquire more tools to be able to multiply your earnings and assets in the future.

At the end of the day what matters is generating more financial confidence and awareness so that you know where your paychecks are destined for, what projects are of your interest for future growth and ultimately learning to value money as a rational tool, not an emotional one.

Araceli García Cronque Contadora Colegio El Roble

Reference: https://www.expansion.com/ahorro/2016/08/20/57b5814e46163ffd6a8b4605.html

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Araceli García Cronque
Contadora Colegio El Roble

Reference:
https://www.expansion.com/ahorro/2016/08/20/57b5814e46163ffd6a8b4605.html