Which ISA should you choose?
Choosing an Individual Savings Account (ISA) used to be simple. There was either a cash...Read more
Reports | 31st July 2018
Money Never Sleeps, Research report by Apples for Oranges
Our Apples for Oranges research report shows an insight into how you can make money work for you and the rules you should follow to avoid financial burnout. If you’re looking to turbo charge your savings engine, then grab a coffee and download this report.
While many see salary as the key to wealth. Those with insight understand that the key to achieving real riches is not what you earn, but how well you make your money work. Ideally, making your money work harder than you do.
The more you invest and the better the rate of return you can achieve, the more your wealth will grow. Investing those returns then further amplifies these benefits, with money making money to make even more money – and so the cycle goes on. Strike the right balance for long enough and how hard you work no longer becomes the key to your wealth.
Even if you start with a modest pot, using time to your advantage to seek out better returns and enjoy compound wealth is the second lesson we can all learn from the wealthy.
Achieving real wealth won’t happen by accident. To turn an average income into a sizeable nest egg requires commitment, some short-term sacrifice and, most of all, it requires a plan.
When financial planning, it is first necessary to build a pot with which to invest. This requires planning your finances so that you begin spending less than you earn. The better you can do this, the quicker you can begin making that money work for you.
When building wealth, it’s essential to learn the lessons of the rich and blend emotional and logical thinking.
Emotions can guide your goals and help provide motivation when making small, short-term sacrifices to support your ultimate objective.
However, it’s your logical brain that will best direct your investments and ensure you make the most of what you have to work with.
You may think that cutting out the occasional daily treat is enough to change your prospects, but evidence on how the wealthy behave suggests you need to think a little bit bigger.