Although it is difficult to believe, the economic crisis has its positive parts. We have had to adapt and without realizing it we have learned to reduce expenses. Generally, the expenses that we have waived during this time have been those destined for whims, luxury, or leisure activities.
This has helped us to understand that one can be happy without the need to have unnecessary material things, to spend more time with the family, and it has returned us to past times when entertainment did not imply having a certain budget. And not only that; those changes in our lives are saving us money. Little by little many Spanish families have managed to raise a moderate amount and do not know what to do with it. Thanks to the economic crisis, we know that we must think ahead.
What to do with the money we have saved?
As long as we have money, we can carry out three actions: store it, spend it or invest it.
Store the money. It is the preferred option for those who do not trust banks or investments. The chances of losing that money are minimal, however, we must bear in mind that the money will end up losing value. For example, if we have 5,000 euros, with annual inflation of 2% this amount would lose 2% of its value, that is, 100 euros. Storing money is also detrimental to the economy because the lack movement makes it stop. If everyone did the same, it would be impossible for businesses, shops, or industries to exist.
Spend the money. As we have said before, the more money is stopped, the less active the economy will be. If we decide to spend the money, we must do so without wasting it. For that, we must take into account some tips such as: spend it on durable things, save a part, do not buy anything that is expensive to maintain and enjoy with friends or family.
Invest money. The third option is to try to get a return on that amount of money that you have saved.
Where to invest my money?
Lend them money to individuals with interest or to companies through Communicate. Community is a Spanish platform to lend money between individuals or from individuals to companies.
Leave the money in the bank. The bank offers us multiple options to invest our money: checking accounts, funds, savings accounts, time deposits, etc. An example would be the 2.75 MIX deposit of Banco Mediolanum that offers us a 6-month product at 2.75% APR.
Invest in the Stock Market. It is one of the riskiest decisions since no prognosis is certain. The Spanish Stock Market has been depreciated in recent years due to the economic crisis, however, at this time the prospects for the future are beginning to be positive.
Invest in fixed income. It is a safe investment based on debt issues issued by states or companies. Keep in mind that the returns are not very high and that although it is one of the safest investments, it is not without risk.
Invest in real estate. It is a good time to buy due to low house prices. However, we must take into account two risks: the loss of value that the property may suffer and the insolvency of the tenants in case of renting it.
Create a business. It is one of the alternatives, but you have to pay close attention to the planning process. Before putting it into practice, you must carefully analyze the sector in which you are going to invest. Being workers, constant, and having a little luck, you can be part of that 15% of SMEs that survive the third year of life.
