ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Making your money grow
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Advancing in the stock market
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Adulting
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Building your credit
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Detailed explanation-1: -The earlier you invest, the bigger your money will grow, especially when you invest for the long term. Besides, starting early allows you to develop good money habits that will last you a lifetime.
Detailed explanation-2: -Basically, when you invest your money, it hopefully earns returns, and then the returns you’ve earned can also earn returns of their own. (This can also go the other way during down markets, but over the long term, markets have historically trended upward.)
Detailed explanation-3: -Diversification The right combination of stocks, bonds, and cash can allow a portfolio to grow with much less risk and volatility than a portfolio that is invested completely in stocks. Diversification works partly because when one asset class is performing poorly, another is usually doing well.
Detailed explanation-4: -Make savings a priority. Each time you’re paid, put a portion of it toward savings. Automate your savings. Most financial institutions allow you to automatically transfer funds online or via mobile apps from checking to savings accounts. Find money to save. Keep the change. Cancel extra costs. 09-Dec-2022