Savings, Thrift & Investment | |
Savings, Thrift & Investment | |
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Wednesday, April 01, 2020 / 05:30PM / Sponsored Post /
Pete McAllister / Header Image Credit: House Beautiful
While there are plenty of
methods of being money-savvy, the current global crisis that has resulted from
the infamous Covid19 virus outbreak has some underlying lessons for everyone.
Unfortunately, some may only focus on how the negative
impacts of the virus outbreak have influenced our day to day lives,
although, there are several silver linings waiting to be discovered.
In previous years, being
money-savvy meant stretching every penny and searching for methods of
maximizing earning potentials and profits, while this year it could be agreed
that these money-savvy methods may no longer apply. If you're after financial
security, the following effective money-savvy methods will help you through the
year and establish a future worth working towards.
Previously, it was a solid
solution to rely on the stock market as a traditional means of investing,
although, considering the massively concerning hit the stock market has endured
from international lockdowns, many have cashed out their investments and
wondered where their hard-earned funds would be safest. Oddly enough, many
investors ran towards the US dollar, resulting in a staggering increase in
value.
However, it would not be
the wisest solution to rely on the US dollar as an investment as the financial
future is somewhat uncertain on a global level. Therefore, people are
considering alternative investments now more than ever, and the Bitcoin price
may have fallen, although when considering this controversial digital currency
does not obtain value the same way traditional currencies do, it would be a
wise move to safeguard your savings by investing in the currency now or opting
to earn in
crypto,
while the price has gone down.
If you are wondering where to buy
Bitcoin in South Africa, it would be best to consider an internationally
recognized platform rather than a local one as there are very few legitimate
platforms in the sea of scams.
Countless people around
the world have fast discovered that their personal idea of essential items is
vastly different from what essential items really are. This may be one of the
most notable silver linings of the lockdowns and communities and professionals
are finally learning how to latch onto a simple life.
While everyone is somewhat
wasteful in some way or another, adapting to a life where only essentials are
considered should be carried out even when lockdowns are lifted. This is simply
because you will be able to heal your spending habits and save significantly
long term. Items that are considered non-essential by governments, could be
removed from your budget altogether and you could allocate your spend towards
smart purchases such as alternative investments and a safety net of savings.
While remote
employment is a relatively new method that businesses utilize to cut costs,
the concept saves everyone a fortune in travel costs among other expenses. If
you are not yet employed remotely, there is no better time than now to start
searching for methods of earning an income from the comfort of your own home.
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