Regardless what stage you are in at life you will have some financial goals. It starts from wanting to buy a certain item, towards becoming independant from your parents, living without having to work to being able to maintain your current lifestyle untill you are no longer around.
Especially having encountered a difficult year like 2020 our financial goals either may have been less important or simply impossible to strive for. Now we can slowly start looking forward to the future again. At first attempt to recover from the difficult year and keep going for your goals. You don’t have to instantly buy that house you are looking for, but you can start looking at the money you are using and the money that you can but aside.
I believe that through knowledge and discipline, financial peace is possible for all of us. – Dave Ramsey
The more you think about your money goals the easier it will become to strive for them. Everyone is capable of achieving financial freedom as long as you don’t loose sight of your goal and maintain disciplined enough with your money. You can go and eat out once a week and still become financially free, you can also still go out for a coffee. Yet don’t combine all kinds of pleasure and luxury so you don’t keep any money at the end of the month. In the end it is not important to how much you earn but what you do with it.
Figuring out what you should do to increase your portfolio and yet keep it safe is not easy. There is not just one method possible for obtaining your financial goals. Research the possible methods and only participate in those that you understand. Once you understand the method where you put your money there is still no guarantee of a profit. Looking at saving, purchasing or investing money hurts our eyes. What would you rather have, a new phone, 1k in cash or 1k in investments? This is a difficult question to answer. The new phone will decrease automatically, the cash also slowly decreases and the investment will probably decrease and may or may not increase in due time.
You can use a method of investing that you understand. It stays risky and you may lose a lot of money. But don’t give up on your financial goals. Attempt to delay gratification and see what it can potentially help you.