Money Management for Gold Diggers

11 June 2018


6 interesting ways to stay on top of your game!

So listen, the Firstline Blog is a safe space. We don’t judge, and we don’t discriminate. We’re here to help anyone wanting to create wealth and abundant life for themselves and their families. Do you, boo. But be smart about it.
Read on for our money management tips!

A Firstline Securities Limited Blog by: Maxine King

Hi there. Are you a “gold-digger”? You probably think that I am crazy to publicly ask this question, but let’s face the facts -“Gold Digging”, a term thought to have its genesis in the early 1900s, is alive and well today and believe me, it is no longer gender specific.

So if you already fit the description, and more so if you are still in the hunt and looking to “marry up”, here are 6 tips to ensure that your material gains are not short-lived or quickly dissipated. You would have worked hard for this!

Tip 1.

Engage in self-assessment. Are you are a risk taker, willing to go to the extreme, or do you see yourself as perhaps conservative to moderate? Once you understand who you are, it will make it easier for you to decide what type of gifts you demand and for what purpose.

Tip 2.

Decide how much of the cash you receive is going to be put aside for those rainy days, when perhaps you may be “bowled out” by the competition!.  Is it 10%, 20% or even 50%? To do that you should have a clear financial plan in mind. Stick to it and make sure that you place the cash in a vehicle that works for you given your appetite for risk and your financial needs.

 

Tip 3.

Do not spend all of your money on frivolities.  Practise being less of a consumer and more of an entrepreneur. If your partner provides you with material things and also cash, make sure that you invest  a portion of it in assets that will provide you with real financial returns.

Tip 4.

Prepare for the future. We are all aging and as we grow, our lifestyles, expectations and values change.  Some of us want a different house in a different neighbourhood; some of us want to retire early; some of us want to see the world and some of us want an expensive car so that everyone can see how affluent we have become. Whatever it is, be sure to place a portion of your cash gifts into diversified initiatives which yield financial returns.

Tip 5

Encourage your partner to make financial investments. The more he/she makes, the more you make!

How about asking for investment accounts to be opened in your name where you receive the gifts of monthly sums to augment your initial investment? Why not ask for investment accounts to be opened to cater for your every need; including some liquidity, dividends, interest, capital gains and even the various stages in your life cycle such as retirement, health needs, education and much more?

 

Tip 6

Come to Firstline! We don’t judge and we certainly do not discriminate.  We are here to help anyone who wishes to create wealth and an abundant life for themselves and their families. Given your risk appetite and your investment sums we can even invest in gold for you!

 

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