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Are you saving enough to help your financial future?

by | Jan 4, 2017

Savings….

Very few people want to talk or think about saving, but putting money aside as early as possible can give you a massive advantage in the future. It sounds obvious, however this message doesn’t get through to many people in the so called ‘millennial’ generation. In an age of instant gratification and consumerism, many people simply kick the can down the road in favor of fully enjoying their paycheck as soon as it falls into their bank accounts. However this is not a prudent option. Saving is strongly recommended, no matter how small, and learning how to invest can be a better way of making your savings work for you in the future.

At invstr we wanted to get a sense of how the millennial generation felt about investing and savings and so conducted surveys that reached out to 2 thousand millennials between 16-30 across the UK and the USA to gauge how they felt about their financial futures, their savings and the markets. At our launch party in June last year (seen below where our founder Kerim is presenting), we revealed the data and set out how we think our app can help to demystify the markets and democratize access to financial information. In this way, we are helping people to learn about investment.

As for the results? In general, the responses from those questioned suggested some angst and confusion about their financial futures:

Our Founder and CEO Kerim Derhalli said: “From the surveys that invstr has conducted in the UK and USA, it is clear that most people are not making adequate provisions for their future. Investing is all about making a trade off today for a larger reward in the future. If we get into the habit of saving early in life, the power of compounding helps our savings grow far more than if we try to catch up when we are older. That is why it is so important to start to save as much as we can as early as we can. Being financially secure will give us far more choices over our lives in the future.”

What are my options to increase my savings once I start putting money away?

There are several different avenues you can choose to go down to create a higher return, but what we are concerned with at invstr is the stock market.

The stock market is becoming an ever more preferred way of creating a return on your savings, especially since the possible return from alternatives like bonds is relatively poor in an era of low interest rates, which we touched upon here 

Our data also suggested that there was some hesitance around this area: –

When your money is sitting in a bank in this current economic climate, it’s safe, but is generating little return. However, with knowledge and application, you can make your money work better for you by investing in shares.

Here at invstr we split the process of investing into 3 parts: keep up with current affairs, follow the markets and practice.

The invstr app provides ways in which you can learn more about the stock market and engage in a risk free way, taking charge of your financial future. Learn through our investment and prediction games, news and invstr feeds, our video content and more to keep up to date and in tune with the business world. With practice and knowledge under your belt, soon enough you can be equipped to understand trading and how to make saving exciting and no longer a chore.

Want to learn more about the markets and how to become a better investor?

Download the Invstr App now.

ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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