Investment

So, you want to invest? Great news! Here’s everything you need to know before you get started.

You’ve probably heard that investing your money gives you a better chance of growing it in the long-term than if you leave it in the bank. Which is right.  

Over time, the profits you make on your investments tend to beat inflation and outperform other options like saving in cash. 

As we travel through life, our financial priorities change and our financial goals and needs evolve. In this article, we explore how money priorities can change with age and what steps you can take to make the most of your finances at each stage.

Socially Responsible Investing

People are increasingly looking for ways in which they can have a positive impact on the world. Over the past decade we have seen a dramatic increase in the number of people switching to plant based diets and choosing to drive electric or hybrid vehicles. These lifestyle changes are both widely understood and accepted ways to lessen our impact on the environment, but another way to have a positive social impact is through the growing world of socially responsible investing.
 

Whilst renting a property has some advantages, such as being able to live in a location you’d otherwise not be able to afford, the distinct downside of renting is that you ultimately have little to show for the thousands of Euros you pay out in rent each year. 

When it comes to creating a better financial future, we know it’s important to have an emergency fund which is easily accessible (see “Building an Emergency Fund”). For this reason, people will often save money in a bank account which ensures your money doesn’t decrease in value and you can usually access it if you need it. However, with interest rates being low it does mean that there is a risk your money doesn’t grow quickly enough in a bank account to keep pace with the increased cost of living.

How your identity can be stolen?

Traditionally, criminals needed physical information to steal someone’s identity. They got this by:

• Stealing a purse/wallet/bag.
• Rummaging through a bin for documents.
• “Skimming” a bank or credit card at a cash machine or card terminal.
• Stealing post.

However, because we now live in a digitally connected world, physical access to documents and information is no longer essential for a criminal to steal someone’s identity. Technology means they can get what they need via:

Protecting Your Identity

Identity Theft and Identity Fraud are the fastest growing crimes in Europe and the US with around 1 in 10 of us falling victim to these crimes each year. Criminals are using increasingly sophisticated and convincing methods to separate us from our hard-earned cash, and the money they are stealing is also helping fund terrorism and the illegal drugs trade.

So, what can you do to avoid becoming a victim of Identity Theft and Identity Fraud?