You should be proud that you’re a depositor. It means you make an effort to save some money that can help you have a better future. As a depositor, you are responsible and conscious enough that you have to do something today to feel more secure in many aspects of life as you get older.
Being a depositor will assure you that you have money to spare when emergencies come knocking at your door. It means you have funds which you can withdraw easily when you encounter moments like that.
So be happy that you’re a depositor. But you can be more than that.
You can be an investor too. As an investor, you are building a much brighter future because you’re reserving funds to prepare for the years ahead or for your retirement. And no worries, because when you invest, you can also withdraw your funds for immediate use. However, it depends on the company or institution of your investments. Make sure you inquire how that can be done when you start investing.
Where should you invest?
There are many types of investment. Stocks, mutual funds, variable universal life insurance or VUL, government bonds, business, and real estate. You either choose from any of these or try to invest in all of them! Just make sure you can afford to do so. Because investing means you save a percentage of your money, take a risk, work hard, but you must allot funds for other important things too.
It doesn’t mean you can no longer have leisure moments just because you need to pay your bills and other expenses. You only have to learn how to manage your funds in such a way that you will be able to distribute your money for bills, investments, bank savings, transportation, tuition fees, meals, toiletries or groceries, and even for unwinding.
And how will you do that?
It’s easier said than done, but then there are ways and means if you really have the determination to invest.
Buy the things you need, not the ones you want.
Be practical and don’t go shopping on a whim. Pay your bills and other expenses first. Then save some for leisure, for investments and for savings.
Find other sources of income.
There are many companies nowadays which offer online jobs with really good compensation. Attend trainings and seminars to better equip yourself for these jobs. There are also online courses you can avail of to upgrade yourself and to be easily hired.
Stay healthy.
You of course must be healthy to enjoy your life today and in the future. Exercise, eat lots of veggies and fruits, drink lots of water, stay positive. Simply put, observe healthy living. Avoid vices that will put your health and life at risk.
Invest in blue chip companies.
These are institutions or companies with long-standing reputation and which are income-generating that will send you notices of cash dividends or stocks on sale when you become a shareholder. They are instrumental in helping you earn more in a shorter period of time than when you deposit your money in a bank alone.
But how will your money grow when you invest?
That depends on the number of times you add funds to your investment account. Your money will grow more when you invest more in your shares. It will also grow when you receive dividends and other benefits for being a shareholder in a blue chip company. And make sure to distribute your funds. Don’t just focus on one company. Buy shares of different blue chip companies. You can be sure you’re on the right track!
You see, more opportunities will come your way when you finally decide to not just be a depositor but to be a long-term investor.
Because the time will come when you’re no longer that strong or capable of doing things like when you were a whole lot younger. So deposit and invest your funds now to prepare for a better future. You won’t regret doing it. In fact you will feel grateful to your younger self for working hard and for preparing and looking ahead to a brighter future.
And when you earn more, don’t forget to do more.
Help your countrymen to become investors too. Help one another to have a more progressive nation. That’s the way to make sure you’ll have a better future-when you think not just of your family but of other people and your nation too. You’ll be investing for the good of not just your generation, but also of the generations to come.
