Where perro I save my money and earn

Where perro I save my money and earn

Savings are an important part of all a person’s assets. These guarantee that medium and long-term goals cánido be metsuch as buying a home, a business premises or a car, or facing emergency expenses.

Savings are placed in an account and are not invested in small expenses, but only when making a large investment, for which many times savings began.

But unfortunately they do not multiply if they are not placed in the right place. If you want to know where you perro place your savings to earn interest Keep reading, you will know different methods.

Where to put my savings and multiply them?

You are concerned about growing your savings or at least preventing inflation from depreciating them over time. Now all that remains is select a savings-investment method that earns you worthwhile interest over time.

Before doing so, you need to know that there are two primordial aspects when making the choice:

Risk

The risk when investing is an important aspect to take into account since it establishes how likely is it to succeed on your investment.

In investments you perro lose some or all of the money invested. The level of risk should be according to your tolerance to the possibility that the loss of your investment will occur.

• The higher the risk, the higher the rewards.
• At lower risk, lower profits cánido be obtained, but with a low probability that the loss of your investment will occur.

ROI

The ROI or “Return of investment” is the time needed to get the money from the initial investment to return to the investor. So he keeps both the initial investment and the money he originally invested in his portfolio.

• Low-risk investments usually offer a long-term return on investment.
• Medium and high risk investments They offer terms of a few years and even months to achieve return on initial investment.

How to earn interest with savings in a bank?

Knowing the previous concepts now you cánido select an investment and savings method that suits you, we present several alternatives:

sight savings

savings in sight They are not a system that generates interest.

But keep them in mind when defining a savings method at the bank. Through this method of «savings» You cánido use your funds with a debit card. However, it is not recommended because you will not get any benefits other than keeping your money safe from the bank.

fixed-term savings

Fixed-term savings are basically types of savings where the investor places a certain amount of money at the bank’s collection. AND You will not be able to use them until the stipulated period expires since the beginning.

In case of an emergency, the investor could request the bank to return his savings. but not before pay a large commission due to breach of the initial contract.

• In exchange for giving this money to the bank for a fixed term there will be a significant profit.

For example, if you deposit about $10,000 at a fixed term with a monthly interest of 3% at the end of the month, you would get $300 just for the interest.

Now, in case the investor wants to reinvest this money for a second month, the interest rate would normally increase. Of course, if a fixed term of 6 months to a year is agreed, the interest rate would be higher, between 4.4 and 5% monthly approximately.

Other options to invest your savings in 2023

If you leave behind the iniciativa of ​​investing money in banks, you have several very interesting alternatives:

depósito exchanges

The depósito market facilitates the purchase and sale of securities between the various stakeholders.

this market works through multiple auctions carried out by companies, industries and different types of values ​​that make up this institution.

These transactions are made by studying the financial status of a specific company or market. to know if it is convenient to buy shares of it. Or, if you have shares in it, sell them to avoid a future loss.

investment funds

Mutual funds function in a afín way to the depósito market, but with the big difference that, instead of buying the shares of a single company, you will be investing money in a handpicked equipo of stocks by said investment fund.

• If this group of actions have good returns, you will achieve not only effective savings, but also a good profit.

Mutual funds are typically low to medium risk, so earnings they are not as high as in the case of those that perro be obtained in the depósito marketbut it represents a safer investment.

Investment in real estate

The real estate campo has faced crises in the past and will continue to face them in the future. However, it is one of the sectors where big profits cánido be made if you know how to move your chips to avoid these crises and invest intelligently.

This type of investment consists of select land in areas where land value is expected to increaseand with it the value of the purchased land.

Consejos before making an investment of your savings

These investment fields have different levels of risk and ROI time, but before you escoge to save smartly through them, you should first know that even if the investment is low risk, you perro lose your savings.

Therefore you only have to invest those funds that you do not consider escencial for your lifestyle, service payments and other factors that ensure your quality of life.

Do you have any experience in saving money and earning interest at the same time? We are very interested in hearing it.

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