How to get the most from your savings plan
Savings plans are one of the best ways to become an investor. Here’s how your savings plan can help you smash your financial goals.
A savings plan is one of the most useful tools to grow your wealth. They’re simple, easy to set up and you can achieve several important financial goals at the same time just by using them. Here’s how a savings plan can help you build a better financial future.
The quickest way to become an investor
We believe that investing is the best way for people to grow their money. For most people, the biggest problem is getting started. There’s too much technical talk and it’s hard to know what you’re really getting yourself into. At Nuri, we’re all about making finance simple, so we made our savings plans with the aim of helping people become investors as easily as possible.
In fact, all it takes to start your investment journey is a few taps. All you need to do is calculate how much you want to invest and how often, then confirm the amount once a month. It’s as simple as that. You don’t even need to think about it for 30 days of the month. Investing has never been easier.
Diversify your income
Earning money takes work and getting to a place where your financial health is stable can take time. This is why it’s important to make sure your finances are robust. In other words: diversify your income.
In today’s world a job is no longer guaranteed for life. This means you need to find ways to earn money independently.
There are lots of ways to start diversifying your income including rent from property, earning a few extra euros from a side hustle every week and investing.
A savings plan is an essential part of any diversified financial routine and means you aren’t putting all your eggs in one basket. It might seem like an extra cost in the beginning but, as your assets start to grow, you could soon start earning interest on your savings and turn them into another revenue stream.
Future-proof your money
The value of your savings could actually shrink thanks to inflation. If you want to lead a comfortable life and look after your future self, you need to find a way to make your savings grow.
You should only keep enough for your emergency fund, living expenses and other important outgoings like tax in your bank account. Once you’ve worked out what you can afford to invest, you should put your money to work earning interest and growing your wealth. By setting up a savings plan, you’re making sure that your savings become more valuable and help you achieve your lifestyle goals in a few years’ time.
Discover the easiest way to grow your money
Savings plans are popular tools for good reason. They’re easy to understand and can help investors grow their money with very little effort. Most savings plans use cost averaging, one of the most successful ways to invest. Cost averaging is recommended by experienced investors around the world because it’s simple, easy and can match any budget.
For anyone who can’t decide on the best way to get started as an investor, cost averaging is an effective way to invest that works no matter what the market is doing. If you’re looking for a way to sustainably grow your money without having to spend hours learning about tricky financial terms, then a savings plan is the best way to build your future without breaking a sweat.
In personal finance, small things can do a lot of heavy lifting. A savings plan isn’t just checking a box or a way of getting your parents to stop nagging you about money. It’s also a way to become more resilient, to see the role of value in your own life and to start living the life you actually want to live.