Growing Your Money: It’s Easier Than You Think!
No one is born knowing how to save or to invest. While money doesn’t grow on trees, it can grow when you save and invest wisely.
Knowing how to secure your financial well-being is one of the most important things you’ll ever need in life. You don’t have to be a genius to do it. You need to know a few basics, form a plan, and be ready to stick to it. No matter how much or little money you have, the important thing is to educate yourself about your opportunities.
No one can guarantee that you’ll make money from investments you make. But get the facts about saving and investing and follow through with an intelligent plan. You should be able to gain financial security over the years and enjoy the benefits of managing your money.
A few people may stumble into financial security—a wealthy relative may die, or a business may take off. But for most people, the only way to attain financial security is to save and invest over a long time.
Time after time, people of even modest means who begin the journey reach financial security and all that it promises: buying a home, educational opportunities for their children, and comfortable retirement. If they can do it, so can you!
KEYS TO FINANCIAL SUCCESS
1. Make a financial plan.
2. Pay off any high-interest debts.
3. Start saving and investing as soon as you’ve paid off your debts.
Small Savings Add Up to Big Money. Think of starting savings amounts you can comfortably. With compound interest, you earn interest on the money you save and on the interest that money earns. Over time, even a small amount saved can add up to big money.
Your Money Can Work ForYou In Two Ways: Your money earns money, or you buy something with your money that could increase in value.
Savings and investing tips from the U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy
From the reports published in our current Co-op News issue, saving your money in a SACCO is a wise choice. Saccos are offering a high return on investment. Imagine earning an interest of up to 21%; Why not join a Sacco today? We have published a list of how Saccos paid dividends and rebates for FY2021. We have also extensively published a detailed analysis of how various Saccos performed last year. Enjoy comprehensive and in-depth coverage on the Co-operative Sector in Kenya and Globally. Co-op News: A Comprehensive Cooperative Journal
