TIPS FOR SAVING AND INVEST BEFORE 18

 

SAVING AND INVEST BEFORE 18

By: Eduardo Almeida

              Sometimes the future is scary; it’s difficult to think about things like starting with 0 dollars at your name or having questions like: Will I get enough money for university? Will I get enough money to survive every day without hunger? Will I ever have enough money to have basic things like a car or a house? Well, that’s why it’s important to have a plan to make money and ensure your future and in this blog, you will find out different ways to invest your money to make your adulthood experience easier.

 

WAYS TO SAVE MONEY IN MEXICO

 

              1.Invest in CETES: You should invest in the national deft because this is one of the safest ways to invest your money long term. You only put the desired amount of money and the time that the investment will last. It is also accessible and has a section for minors, which is called Cetes Children, where you can deposit your money as a minor easily and safely.

CETES NIÑOS

 

 

 

              2.Have a savings account with a bank that allows you to manage your money: for example, the hey minors account from “hey bank”, which is accessible and with quick registration and with 2 ways to generate returns with the “hey savings” and “hey investment” tools. It should be noted that you must invest or save, otherwise there will be no returns.

 

 

 

  

    3.Ask your parents to open a GBM account for minors: the “Grupo Búrsatil Mexicano” more known as GBM is an investment platform that allows us to invest in ETF’s, actions as well as other financial instruments from the Mexican stock market, the app has an account for minors that is co-titled which means your parents will do the operation and will manage your account, but that´s no problem because you only need the permission of your parents and a bit of financial knowledge to start investing in many types of financial instruments in the Mexican Exchange.

 

 

WAYS TO SAVE MONEY IN OTHER COUNTRIES

1.Ask your parents to open an account of an investing app: I recommend “Interactive brokers” or “Hapi” which are apps recommended by investors because of their easy use and big market centered in Latin America, USA and many places worldwide. If you ask your parents to open an account for you to use the financial tools that the app provides you with you will be able to make your own investments.

 

 

2.Invest in Etf’s: According to Vanguard an (Exchange traded found) Etf  “is a collection of hundreds or thousands of stocks or bonds, managed by experts, in a single fund that trades on major stock exchanges” like the New York Stock Exchange, Nasdaq, and Chicago Board Options Exchange another more in the stock market. This is a really good option for long-term investors which means it can have a higher value in the stock market if you wait enough time, but of course it has risks, to invest in these ones you can give the money you wish to invest to your parents for them to invest in the etf you wish to invest and you can invest in many apps or even some banks like BBVA.

In conclusion, you need to know that you won’t become rich that easily. Investing is a risky process that sometimes will look complicated, scary and professional. Many young people who want to invest end up abandoning investing because of the many risks and the impact that investing in the stock exchange generates in your mind, but only that special people don’t give up sometimes win the game of life, sometimes not but that is something you don’t have to think of.

 

So… what´s next? Well, that depends on your decisions. Maybe you want to save money while investing it in long-term for your retirement and have a good wealth for the rest of your life or maybe you want your money now and just want to save for short-term and want a tiny bit more money of what you had for a short time or maybe you’re in between of these two, it doesn’t matter I just hope this post helps you comprehend how can you invest and stop having the doubt of how will your future be, this may be a difficult road but with these tips you can have an advantage.

I would like to finally conclude with some words from a blog post of NU Mexico: “So, why not take the plunge and start learning about investing now? Starting your financial journey at an early age will better prepare you for the future and give you a significant head start in the world of finance.”

Good Luck,

 

Eduardo