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5 Must-Do Things to Improve Your Savings Game

Everyone is trying to set aside a little cash for a rainy day, but there are a number of things individuals can do to maximize those savings.
Modern Times Apr 13, 2019
Savings is a hard slog. But in the end, having a built-up safety net or retirement account is absolutely worth it. Even if you only set aside a few dollars here and there, it can build up to an impressive nest egg if you let it.

But setting cash aside isn’t enough. You need to actively seek ways to maximize those savings.

Open a Savings Account

Starting with a simple savings account is a great way to begin seeing returns. Around 50 percent of Americans don’t have enough stored away to make it through next month if their paychecks stop.

Opening a high yield savings account is free and simple. You will likely find stashing away extra cash to be quickly addictive and beneficial.

Invest in the Stock Market

Once you have built up a small savings account, the next thing to do is open a stock trading portfolio. There are countless brokers out there, but stick to one that offers free trades: they make it easy to get started.

With just a few rudimentary stock trading strategies under your belt, you will start to see returns almost immediately.

Power Requirements

Consider branching out from simple stocks. The forex market is a great place to put your trading skills to the test. With some dedication to research, you will see sizable movement in this portfolio of investments, as well.

Forex is a great option for growth because the market almost never sleeps! Five markets around the world mean constant access.

Invest in Tangible Assets

Once you have dipped your toes into commodity trading, you may get the urge to begin moving physical assets too – many accessible online.

Precious metals, flipping homes, and sales at auto auctions are great ways to get involved in the physical commodities. Each offers great potential upside if you are willing to put in the work.

Rounding Out Your Portfolio With ‘Safe’ Options

Bonds and other long term investments are the final component of your growing portfolio of assets. These instruments don’t grow much, however they are sound financial tools to protect your principle and should be included in your savings plans.

No matter what the market or your other investments do in the short term, you have a safety net to fall back on.
Saving is a long game, so you need to start right away to maximize your impact. Even if you aren’t flush with cash, anything you can start putting away today will benefit you exponentially in the future.

Let interest be your friend for a change and start building a portfolio of great investments.