Why you should take cash out of the piggy bank
What you do with your cash is one of life’s great dilemmas. Whether you choose to save, invest, or trade, you’ll discover varying levels of risk and potential reward – and how much weight you give to each will depends entirely on your goals.
So, learn how the different strategies work – as well as the benefits and pitfalls they present – to help you make the right decision for you. 🎯
You’ve reached an exciting point.
Your debts are sorted, your budget is organised, and (if you’re in the UK) perhaps you’ve picked a tax wrapper. You’re now faced with one of life’s critical dilemmas: what should you do with your cash? 🤔
After rewarding yourself for your hard work so far with a nice but reasonably priced bottle 🍾 of something, you’ve got a bunch of options to consider. Simply keeping the money under your mattress isn’t going to get you very far, thanks to inflation sapping its value over time. Instead, it’s smart to do something productive with it – to put the money to work with the aim of delivering a return that grows your wealth.
What can I do with my money?
There are three main things you can do with your money (beyond spending it, obviously): saving, investing, and trading. Each involves different levels of risk – with corresponding levels of potential return. How much weight you give to each depends entirely on your goal: someone seeking financial peace of mind will take a very different approach to someone who’s dead set on making millions overnight.
To properly pick your poison 🧪 you’ll need to understand the way each strategy works and the benefits and risks they offer. Thankfully, you’re in the right place: in this learning guide, we’ll give you the knowledge you need to figure out how you may like to split your cash. Parting with money never felt so good. 💸
No matter what, keep in mind that when you invest, your capital is at risk.