MONEY INVESTMENTS –

“The more you sow, the more you reap”

        Most people save for a purpose. It could be to buy a car, a house or a business but it’s usually  for times when you cannot work such as in your retirement.

        Your retirement could cover a third of your life and it could be longer if you have a health problem.

A  handful of tips to help you save for money for your “rainy days”

* Spend less than you earn

       Make regular savings.

        Try to save at least 10% of your salary each pay day.

        Don’t be someone who spends first and then try to save what’s left over.

        Try to arrange an automatic deduction each pay day and budget from the remains.

* Start saving early

       The length of time you invest increases the amount of money you receive by an impressive amount.     

        Learn the power of compound interest to boost your returns.

        The sooner you start the greater your returns.

* Pay off your high interest debts

       Pay off credit card loans as soon as possible.

* Live within your means

       Decide what is essential and what is not essential.

* Do your homework

        Seek objective independent professional advice.

        Spread your risks. “Don’t put all your eggs in one basket.”

        Read investment books.

        Consider an employer -subsidised superannuation scheme, if available.

        Set investment goals.

        Focus on diversified assets that can be easily converted to cash in an emergency.

Geoffrey Moss(mossassociates.co.nz)

“Money is a good servant but a bad master”

For those in need,  download our FREE book “NO JOB! WHAT NOW? available from our website.

Source: Time-Savers, Moss Associates .Ltd  New Zealand; McGraw-Hill, Australia; Times Business Books,  a Federal Publishing House, Singapore and  Qingdao Publishing House, China.