Dear readers, investing seems to be the buzzword recently with advertisements featuring robo advisors as well as financial and investing apps on many channels like the televisions and even the screens in MRT stations. These advertisements tout ways on how customers could grow their monies seamlessly.
From what I think, the current stocks and properties markets are not cheap at all. The aforementioned advertisements may attract new customers, but to me, when it comes to a financial markets crash, every investment will be affected, whether or not the app uses the best artificial intelligence or has the best investment team.
Unless there is a good opportunity, I will not put in new funds for new investments.
The below are three ways to better make use of your monies:
1) Save
Continue to Save and Save More. After your expenditures which satisfy your basic needs, don’t give in to the temptation of spending on wants. Just Save, regardless of the common sayings that your Savings will be eroded by inflation (since a failed investment will cost more).
Even better, you can Save to build up an Investment War Chest to go bargain hunting when the stocks markets crash and when many investors flee. This is really the best time to hold Cash or have liquidity.
2) Fixed Deposits
If you want to let your monies work a little bit hard, you could consider short-term fixed deposits, especially now that the deposit rates are getting slightly better. Let your extra monies work hard in these fixed deposits while waiting for an opportunity in the stocks markets. It is hence crucial that you do not lock in your monies for unnecessary periods as we want to liquidate them as capital when stock markets opportunities arise.
3) Good Experiences
I am a person with simple needs and a minimalist.
I spend monies on basic necessities and will spend extra monies on not material things to satisfy my wants but on Good Experiences to experience Life and Living.
I just find it so important to pamper ourselves once in a while for many of us deserve some pampering after working so hard!
Also, it is important that we take care of ourselves well before we can take care of others.
Hence, I am into Good Experiences.
I know many of us have not been going outside Singapore for overseas tours since last year, but there are really some good experiences to be experienced in Singapore during this period if we search online. We can take this Covid-19 period when many of us are at home and in Singapore to experience more of our family, home and island.
Also, one needs not go out to have a Good Experience. For me, just picking up and reading a good book for hours transports me to very great experiences already. Though I know for many, eating and dining are Great experiences!
That’s all for today’s post! With the number of local Covid-19 community cases going up, please continue to Stay Safe and Stay Strong!