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7 tips for financial success in 2019

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We know that investing can seem complex but here are some simple tips that will help you confidently build your financial future.

If you’d like to start investing visit www.moneyboxapp.com to find out more.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest.

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7 tips for financial success in 2019

  1. 1. 7 tips for financial success in 2019 We know that investing can seem complex but here are some simple tips that will help you confidently build your financial future.
  2. 2. 1. Make sure you have enough money set aside for a rainy day Having 3-6 months of costs set aside in savings will give you peace of mind and a little more financial freedom.
  3. 3. 2. Pay your future-self first ● Get clear on your financial goals. ● Develop a plan. ● Pay your future-self a percentage of your salary (decide the amount based on your goals and then use tools like Moneybox to automate this).
  4. 4. 3. Think longer-term Over the long-term – despite ups and downs – the stock market has been the best place for the longer-term investor to build their wealth. Remember past performance is not a reliable guide to future performance and you may get back less than you invest. The chart shows the US stock market over the last 50 years. Had you invested in it 50 years ago, you would now have made 21 times your money.
  5. 5. 4. Don’t trust your instincts ● When it comes to money, emotions are enemy number one. ● Rationally we want to buy low and sell high but this isn’t always what we end up doing. ● When fear kicks in it can lead us to sell when markets tumble.
  6. 6. 5. Automate your investments by buying little and often Regular investing each week or month, no matter what the state of the market, will teach you a non-emotional approach. You’ll buy low, high and everything in between.
  7. 7. 6. Don’t let your cash stash get too big Holding savings in cash for the short-term makes sense. Whilst there are no guarantees of future performance, over the long-term shares have delivered better returns than cash. Here’s a graph that shows the percentage of times during the last 116 years that shares have beaten cash when held for 5, 10 and 18 consecutive years. Source: Barclays Equity Gilt Study
  8. 8. 7. Don’t put off till tomorrow what you can do today Whatever you’re planning, start now. You’ll feel better and crucially you’ll benefit from compound returns.
  9. 9. The bottom line No matter where you’re going or what your goals are, follow these steps to improve your finances this year. If you’d like to start investing visit www.moneyboxapp.com to find out more. All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest.
  • ssuser1a1804

    Oct. 3, 2020
  • NatalieMorrison16

    Mar. 14, 2019

We know that investing can seem complex but here are some simple tips that will help you confidently build your financial future. If you’d like to start investing visit www.moneyboxapp.com to find out more. All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest.

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