Three (3) great reasons why you should invest your moneyReading Time: 2 minutes
Put your savings to work for you. Invest it so that it will multiply. Many believe this mantra to be one of the invaluable laws of money making
With the increase in Inflation, the need to invest as a better alternative to savings is now seen as an important move for building wealth amidst economic crisis. Investing gives you the option of putting your money to work to earn better rates of return.
Here are 3 great reasons why you should invest your money:
TO BEAT INFLATION:
In 2020 alone there was an increase in inflation at about 12.58%, that means if you had about N100,000 saved in 2019, your N100,000 is not as good as N100,000 now. By just saving or keeping your money idle, you become poorer. This is because inflation eats away at the purchasing power of your money, but by investing, you are able to make more regardless of inflation and beat the drop that occurs with the purchasing power.
FOR HIGHER RETURNS:
Investing helps you achieve higher returns than when compared to saving in a bank. While saving in the bank generates average interest rates of about 3.7% per annum, the potential returns from safe investments are appreciably higher.
ACHIEVE FINANCIAL GOALS:
With investment, your money gets to work for you, therefore you are able to make more money without doing as much work as would have been expected to earn as much. Making more money means you are able to meet your financial targets faster. Your financial targets can vary from paying rents, paying school fees, starting a new business or even taking a vacation, and investing is a sure way of getting these things done.
In conclusion, one of the greatest fear people might have when it comes to making an investment is the fear that they may lose their money. With this in mind, the Kiakia Peer-2-Peer Lending Investment platform was created to provide individuals looking for safe investments that guarantee safe with a viable channel to achieve this. The app is available on the Android play store and the iOS Appstore.
Download the Kiakia P2P app today and start investing.