3 best ways to save your money for long terms

[Sotherefore]

There are various reasons why so many people are interested to save their money, one of the most popular reason why most people are interested to save their money for long-term purposes is to establish a business or for retirement purposes.
In whatever reason we are interested to save our money there are profitable ways we can set aside our money for long-term purposes without depreciation or possible loss of value.

1) INVESTMENT IN CURRENCIES WITH PROGRESSING ECONOMY: This is one of the most suitable ways to invest your money for long-term purposes If there is Future possibility that the value of your asset will depreciate base on the decline in the economic situation of your country . it is better to invest your savings in another country's currency with better and progressive economy. This will always help to maintain the value of your currency for a long time and will even be profitable if you are converting it back to your currency.

3) REAL ESTATE INVESTMENT: If the value of your saving is likely to depreciate because of the bad economic situation of your country or for any other reason, the best way is to invest in real estate. Real estate is among one of the most profitable form of investment in the world. Here the function of real estate is to help you recover the depreciating percentage of your saving and can even generate extra profits since you can easily make quick profit return on investment more than the percentage depreciation.

3) GOVERNMENT BONDS: The government bonds is another way you can maintain the value of your currency. Government Bond may not likely generate you an extra profit but it could help you recover the depreciating value of your asset since you will earn a certain percentage within a particular period of time. Unfortunately government bond is no more profitable over here. But it is also among the ways that can recover the loss of your savings due to economic depreciation..

 

[Kendy]

There are different alternatives where we can save our money for long term use. Fixed deposit is one way, which you could choose to fix your money with a financial institution for a certain duration and you would get back your capital with your interest at the maturation stage. This mode of savings is not really encouraged because it is more advantageous to the company or organization. I prefer the idea of real estate investment if the funds are readily available. Investing in purchasing of lands, engaging in agricultural activities, renting the land or leasing it has proven to be a profitable way of saving money. There is a recent one I heard about treasury bill and it is more profitable than fixed deposit account. Although I do not know exactly how it works but it is a way of loaning money to the government and you get about 15% -19% of your capital. per annum and it is still very much secured. Saving money through investjng in stocks and shares is also a profitable way. In my setting, some telecommunication give people this leverage to partner and invest their money, wherein they get their interest according to the stipulated time.

 

[kayode10]

Saving is very essential for someone who wants to build lasting words for himself and his family. The major purpose of savings is to invest your money so as to make more money for yourselves.

It is often said that money works other than human being. This is the reason why it is very important to invest your money into something that is profitable. The sad thing is that majority of the people are saving just to consume.

I need to look at what they are buying with their saves, the majority of them are something that will take money out of their pocket, that is they are liabilities.

I have seen some people who have seen huge amount of money that can be turned into investment just to buy wine in a nightclub. And they usually regret their actions when they no longer have the money.

It is good to invest someone's money into something that will continue to be valuable as long as poeple are still in existence.

This is the reason why I make real estate investment as my foremost investment option.

There will be always more demand for housing as population of the world keep increasing by the day. People will always look out for shelter and this makes real investment value.

 

[Rachael]

I know it might not really be easy to save money for long terms because each day, we pass through one challenge or the other. I recall when I saved a lot of money some years ago because I wanted to use it to invest by purchasing a land in the sub-rural area in my region but unfortunately, since I was raised by my grandfather and his investment started dwindling, he depended majorly on me. It occurred that he suddenly fell ill and I had no choice than use all my savings to make sure he got right back to his feet but he passed away in the process. I would not call it a waste because I was glad I had tried my best.

My point exactly is that, there is how your save privately for a long term and along the line, an unforeseen situation pops up and squanders all the money. With this experience, I think the best way to save money for a long term use is by investing in a treasury bill account or in reputable real estate companies, cryptocurrencies trading and most importantly you could build a house and occupy them with tenants, where you receive your profits gradually.

 

[moneyteam]

1. Automatically transfer a fixed amount of money from your checking account to your savings account on a regular basis. This will help you to "trick" yourself into saving money without having to think about it!
2. Pay yourself first by setting up a budget and allocating designated amounts of money towards bills, savings, and other expenses. This helps to ensure that you always save something each month, even if it's only a small amount.
3. Invest in high yield savings accounts or CDs (certificates of deposit). This will give you a guaranteed return on your investment, as opposed to risking your money in the stock market or some other type of investment vehicle.

 

[Abigael]

Those are very good methods of long term investment that you have mentioned. Which is a good move to take given how bad the economy is these days as the nations are recovering from the pandemic. When you save for long term, you give yourself a financially stable future where you won't have to depend on anyone.

Investing in currencies is really a great way of long term investment. But it needs you to study currencies well so that you don't invest in one that depreciates rather than appreciating. With time, your money will be of great value and you convert it to your local currency.

These days, you even get a chance to invest in cryptocurrencies online. These coins are really great because of their volatile nature. So you can take advantage of that and incest for the future. But you also need to study the cryptocurrencies well so that you can hold one whose value is most likely to increase with time.

I think that saving money in an insurance cover is also a great way to invest for the future. Insurances like health, property and life are really great because they protect the uncertain future. Which gives you a chance to access anything you need during emergencies.

 

[btaliat]

Saving is one of the quickest ways of making money especially if it is done with the huge currency and it is done on the longer time basis. That's why some people have deviced various ways by which money can be made on a longer time through saving.

Some people have decided to fix their account with financial banks. Fixing one's money with banks always carry some percentage interest. Though the interest is always small compare to some other forms of investing, it still better than leaving the money without any usefulness. Some even try to invest in insurance company with the same vison of getting the money after the expiry of the agreed date.

The modern day has shown people that they can get their money saved in crypto. They are now fixing their money in USDT. To be honest, this is the best way of saving money as the price of foreign currency always move towards uooer direction compare to moving towards downside. However, one needs to make sure one keeps cognizance of whatever happens in the cryptocurrency world.


Some people invest in some landed properties and eben agricultural produces. All these and many more may serve as means of investing and saving money for longer time period.