Debit Cards V Credit Cards
When you’re under 18, you’re lucky! You can’t get into trouble with credit cards as you are under the legal age! But a lot of young people are encouraged to get credit cards when they turn 18! Beware as misuse of a credit card is one of the easiest ways to get into debt.
Let’s first look at the differences between the two. A debit card gives you access to your own money, so you are limited to withdraw or spend only as much as is in your account. When you turn 18...
Investment for Beginners
Ever wondered how rich people get rich?
A few of them get handed their wealth through inheritance, but unfortunately most of us can forget about that. Fewer still strike it lucky in the lotto; in fact gambling often turns out to be a very effective “get poor fast” plan.
In reality most rich people – from the filthy rich to the very comfortably well-off get there by investing – or making their savings do all the hard work. Put simply, investing means spending your savings on things that can earn you more money – that is, buying assets.
An asset is something that will be worth decent money when you sell it later on, like a house or some shares. Good investments grow in value, and these are known as appreciating assets.
Assets that lose value, or depreciate with time, including cars and computers are not considered to be good investments from a money-making perspective, because when you sell them, it will always be for less than you paid.
As an adult, your wealth will be measured by the value of your assets, as well as the money you earn at work.
There is a range of different investments available to everyday people looking to make their money grow, from shares, to property and high interest cash accounts – Let's look at how they all compare.
