September 25, 2019 Jordan Kish 0Comment

ach stage in life is very different and likewise, the handling we have with the money will vary depending on the age and time in which we are, in this month of saving we share these tips so you can save according to the stage of your life in which you are:

Start your savings with your friend the pig (piggy bank) 

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You are a child who is barely knowing the world and the name of the animals is one of the first things you learn Do you already know the pig? This is your financial ally that will help you with your first savings. Give the pig a part of the money your parents give you and you’ll see how he takes care of your money.

Enjoy as a child, save as an adult 

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You have passed childhood and you start adolescence, your friends are changing and you may want to go to the movies with them How about starting to save at the bank and feel like an adult with a card Special debit for you? That money you have saved in your account will help you buy additional things when you are at the cinema, for example, a combo or bigger popcorn.

A great leap for financial discipline 

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You start a new stage in your life, you start college and the commitments increase. It is time to organize the finances and you must handle your first products well, such as the credit card, since a good credit history opens the doors for you. While you are increasing your savings, it is time to open a financial certificate that gives you a greater return for your money.

It is time to produce and save 

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You already have more stable income and also fixed commitments. In this stage of greater financial productivity you should think about increasing the percentage that you allocate to saving because marriage, house and travel are very frequent topics, so, if you start the savings in advance, you can start this stage with the right foot . Plan to save 20% of your income

Save and keep saving 

At this stage saving is the most important and within your savings you must contemplate a fund for retirement so that when your time of greatest economic productivity ends, you can have a wealth and make investments that maximize your return (Investments can be initiated from a young age, but at this stage they take on another relevance for your level of income and experience)

Withdrawal and minimize risks 

When this stage is reached the savings already reach for retirement and all the risky investments we made in our youth is time to exchange them for more conservative ones, for example, increase the portion in financial certificates, debt securities or real estate.

Peace is the most important thing

Arriving at this stage is a blessing, therefore, you must ensure that the decisions we made during the previous stages lead us to peace and stability at this time, here we must have good health insurance, retirement savings and safe investments. Your savings should remain in safe places.