Once you’ve got the basics in order it’s time to put your money to work
You should talk to your financial adviser about ways to make your money work harder for you. While a savings account at a bank is relatively safe, secure and easily accessible, it will not tend to increase in value very much because it is a low risk investment. When inflation is high it could be that your money doesn’t grow fast enough to keep pace with increasing prices, which means it’s effectively shrinking in value. So it can make sense to look at other ways you can use your money.
Depending on your goals and your financial situation your adviser will be able to suggest different strategies that might help you achieve a financial goal.
In the section below, we’ve looked at some of the common methods used to make your money work harder.
Putting your money to work can involve:
Buying a home
We can help you decide whether buying a home is the right decision for you
Saving for school fees
We can help you create a tailored financial plan that’ll help you save for your children’s school fees
Investing in property
We can help you decide whether an investment property is a good decision for you