Saving is one of the fundamental aspects that enables us to enjoy good financial health, as it allows us to respond better to unforeseen situations, to achieve aims such as buying a car; and, ultimately, to have greater stability throughout our lives. Here are some ways we can invest our savings.
When we talk about savings, many people automatically think about the amount of money they have in their current accounts after receiving their salaries, for example, and meeting their payment obligations and other needs, such as the weekly supermarket shop and paying the rent. This is static money that serves to increase our financial capacity to respond to any unexpected situations that may arise, but which have no further consequences, such as the breakdown of a household appliance.
For this reason, many people have thought about putting part of their savings into investments that will earn them profits after putting the money to work. If they decide to do so, they should take a number of basic aspects into account. Next, we review these and what they mean:
Are you planning to invest part of your savings? In this Finance for Mortals article (in Spanish), you can find 5 tips on how to do it.
Where can I invest money to generate more income?
Now that we have seen the aspects we need to consider if we want to invest, next we review some of the most popular options that can help bring our savings to life.