Hope for the state, but don’t be bad. The good news: we have put together a dozen ways that will help everyone gain financial independence.
10. Start putting off now
About 90% of people admit that they constantly lack money. And the reason is that they do not know how to properly manage them and do not create a financial pillow for unforeseen expenses. Even if your salary is below the average, you can always find an opportunity to save 10-15% from it. Let this amount seem negligible to you, but multiply it by 365 days a year and you will get an impressive result. It is from small that the path to financial independence begins. The main thing is to make it a habit, save money on a monthly basis and under no pretext to take money from this amount, or, if there is a vital need, return it back with interest.
9. Do not get into debt
If you already have several loans, try to repay them. Remember, credit is a trap for a person who cannot count and wait. This is an opportunity to get the goods right now, but two to three times more expensive than its price. This is the essence of “credit thinking,” which is firmly rooted in the heads of our fellow citizens. All kinds of credit cards, which are actively offered by bank employees, are not beneficial to anyone except the banks themselves. Remember this and refuse to live beyond your means. Scientists have proven that when paying with a plastic card in a store, we unknowingly spend 15% more than if we paid in cash at the checkout.
8. Do not be wasteful
Cost planning is the key to success. But before you start the theory, look at what you get in practice. Make it a habit to record all expenses for at least a couple of months. This will determine the most expensive items of expenditure. Getting started planning, highlight a few mandatory points, the payment of which should be made in any case. These are utility bills, tuition, monthly payment of kindergarten, school, loans. The necessary expenses include food. But, for example, on entertainment and dinners in a cafe, you can save. The main thing is to separate needs from momentary desires.
7. Buy real estate
At all times, investments in real estate were considered the most profitable, because the prices of these objects are constantly growing. However, not everyone knows how to invest. Let's say you managed to accumulate a certain amount. You can buy an apartment, garage, office space with this money. They can be leased and subsequently sold to make an even more profitable investment. However, if the funds for the purchase are not enough, you can invest in one of the investment funds of real estate. There are a lot of such funds. In fact, concluding an agreement with the fund, you become the owner of investment shares for the building under construction. However, this method is associated with some risks.
6. Endowment insurance
In Europe, the practice of endowment insurance has been applied for a long time and quite successfully. In Russia, this type of investment in its future financial stability is only beginning to gain popularity. The advantage of endowment insurance is the long-term nature of the programs. If a bank has a term of interest-bearing deposit that can reach a maximum of three years, after which it is very likely that the conditions and interest rate change, then in the case of accumulative insurance, the contract is concluded for a period of 5 to 50 years. In fact, endowment insurance combines the services of a bank, a pension fund and an insurance company. Explore the insurers market and choose a trusted, trusted organization.
5. Buy stocks
The essence of this paragraph is simple. First you buy stocks of different companies, and then you either receive passive income from them in the form of dividends, or you sell them at a higher price. The most profitable to buy stocks in a crisis. During this period, many companies sell them cheaper than usual. It is important to understand that not all stocks are profitable, for investments it is better to choose well-known large companies that are sufficiently developed and will remain in the market for a long time to come. Bet on short-term deposits. In order to profitably increase your capital, you need to become a real analyst who is able to guess the change in exchange prices for several days in advance.
4. Do not store money without interest
Money should work. It makes no sense to store them under a pillow, or in a grandmother's box. In order for any savings to be profitable, the minimum that needs to be done is to put them on a deposit account with a bank. Learn the most profitable deposits and interest rates on them. Many banks make it possible to open an account with a minimum down payment of 1000 rubles and replenish it during the entire period. Bank deposits, if they do not increase your savings, will protect them from inflation, the level of which is approximately equal to the interest on the deposit. Opening a bank account is the most common and risk-free way to save savings.
3. Do not neglect tax deductions
If you are officially employed and regularly receive a salary with which the employer withholds income tax in the amount of 13%, you can expect a tax deduction. In most cases, this phrase means the return of part of the amount of money from the state budget spent on treatment, training, purchase of real estate, etc. You can apply for a tax deduction for the previous year within 12 months. Today, there are five types of tax deductions: property, social, standard, investment and professional. To receive compensation in the form of “living” money, you need to file a declaration with the tax authority at the place of residence.
2. Choose NPF wisely
Before concluding an agreement with a Non-State Pension Fund, you need to check whether it is on the list posted on the website of the Pension Fund of the Russian Federation. Each non-state pension fund also has its own website. Information worth paying attention to: the date of creation of the NPF, its experience in insurance of pension savings, reputation or place in the ranking of such organizations, investment income. You can learn about the latter from the annual NPF report to your investors. If the work of the selected non-state pension fund does not suit you, you have the right to change it, but you can do this no more than once a year.
1. Attend financial literacy workshops
In large cities, finding such events is not a problem. For participation in them you will have to pay a certain amount of money, but this can be considered a profitable investment in your education. You can attend free financial literacy training. Usually they are carried out by banks in order to attract potential customers. Another platform for increasing your knowledge on the distribution of finance is the Internet. Webinar and course authors often provide the first lesson for free. Studies have proven that financially literate people, as a rule, have a high quality of life and are successful in their chosen field of activity.