This Is The Smartest Way To Jump-Start Your Savings
There are many ways that Millennials have been defined, but like any other generation before, we are looking to set up our own rules and even disrupt some structures. The Internet has also been influential in how we grew up and see the world. While maybe some of us have already taken advantage of technology to benefit financially, you might still be looking for a way to jump-start your savings in 2019.
Our financial education, if you were lucky enough to have one, came from the traditional structures of banks or parental advice. And even though this information was given to us for our own benefit, we are living in a very different world with new rules now. Not only are we earning less than the previous generations, but also facing the rising cost of living in cities. Not to mention the student loan debt we’re in. On top of this, we are also more aware of the way we buy and consume things to promote a sustainable lifestyle.
This awareness challenges us to find other methods to be more sustainable in our daily lives. Sustainability does not only relate to the planet, but also to our finances.
Though there are a couple of tech-savvy individuals who understand how the economy works and are able to retire at age 30, most of us are not part of that privileged circle. And this is what brings us to the next question, what exactly can someone in their 20’s or 30’s do to jump-start your savings and gain financial independence in the future?
How will you jump-start your savings?
Investment planning is a solid way to jump-start your savings in 2019. There are plenty of investment platforms available today that can help you save systematically and achieve the financial goals you have set for yourself. From the traditional savings accounts in banks to online platforms that give you the possibility to make investments in different products to earn some extra money, the possibilities are growing with each day.
We have been taught to open a traditional savings account. You know, the one that requires tons of paperwork. Once you have been approved, you pay for it, and you need to keep a minimum amount in order to keep it open.
Although we trust this type of institution, we are definitely not happy with the idea of earning almost nothing in interest or paying for negative interest. If you take a look at the online options, you will find there are different options available that don’t rely on bureaucratic, inflexible banking systems.
On one side, we have the platforms that help us invest in stocks that may deliver a good interest return. These marketplaces are a good form of putting your money into products with different rates yet the risks are high.
Another interesting online option is Iban Wallet. This platform allows you to invest in different products all aiming to give you a fixed interest that is paid daily. Depending on the product you choose, you can get up to 6% AER. This financial app is really easy to understand. This is a great plus since not all of us have the knowledge of how the markets work or the time to learn which one is the best investment.
What if I don’t have enough funds?
The sooner you get into the habit of saving, the better. We might have the conception that it only makes sense to open a savings or investment account if we have enough money, yet with platforms such as Iban Wallet, you can start with just $1. Once you start putting a little extra on the side and watching it grow every day, it will be easier for you to keep up and will even encourage you to save more.
Opening an account with Iban Wallet is easy since you just have to go online and give some minimal information about who you are. Once that process is complete, you can choose the product you want to invest in. This you can do through a transfer or through your bank account. Once the registration is complete, you will get a simple view of your money and an idea of how much you can potentially earn in the next couple of years. On the other side, you can configure the notifications that will let you know how much you are earning daily, weekly, or monthly.
Another great thing about Iban Wallet is that you can withdraw your funds whenever you want. So, in case there is an emergency or you want to take your savings to plan that trip you’ve always wanted, you can go ahead with minimal complications The money will send directly from your Iban Account to your normal Bank account.
Okay, I am in. But, are my funds safe?
Whenever a new app comes out that has to do with money, everyone wants to know if they can trust it. Of course, this is a very important question, since you need to know your money will be there the next day. Iban Wallet knows this, so they have been careful in creating a product that you can truly trust. That is why, all accounts are protected through its three-tier security layers, namely asset-backed loans, Buyback Guarantee and Safeguard Trust. Iban Wallet has put as many protections in one place as possible.
How do I start investing?
Saving money is a habit and the sooner you start, the better. In the case of Iban Wallet, you can start investing your money whenever you want through their user-friendly website or app on your phone. They made a product that it’s easy to understand and accessible to everybody, so we trust that you won’t have any problems with this process.
And since the right time is always now, if you open up an account in the next few days you can benefit from their bonus offer to our readers by getting $10 euros with a deposit of $200. For this, you just need to use the promo code SAVING10 and the funds will be put in your Iban Wallet account. Happy investing!
Life is unpredictable, and no matter how stable it seems to us now, you cannot rule out the risk that one day you will need to save for unexpected expenses. Try saving at least 30% of your income each month: by the end of the year, you’ll have accumulated some decent money. Thanks, great article!