News of EU and US trade agreement - Financial Benefits

There are many ways to reap financial benefits out of your positive decisions.

10:49 23 June 2013

One of the most economically exciting pieces of news recently is that the EU and US may be coming to a significant bilateral trade deal. While not everyone has such phenomenal news in their own financial lives, we can still benefit from good decisions. 

 

Here are a few decisions you can make to brighten your own financial future. 

 

• Investments—if you check with an independent financial advisor you can get helpful advice on what to seek for options that suit your budget and goals. You can choose bonds, or an investment portfolio. You can decide whether or not you want to manage it yourself, or if you would rather have a professional manage your investments.

• Savings accounts—these range from regular savings accounts with no annual deposit cap, to Independent Savings Accounts which typically boast a much higher interest rate but have an annual deposit cap. Many times, if you have an aggressive financialplan you’ll end up with multiple savings accounts to make the best use of the different interest rates.

• Hobbies—you never know when a hobby may turn into something more profitable, so consider it a form of investment. If you do something you love, and you have enough money in your financial plan to support it, see if there is a way you can turn it into income. At the very least you may want to find out a way to make your hobby pay for itself.

• Education—this is a tough decision for some people. It’s natural to worry about your financial future, but the chances of having a successful one usually increase if you get extra education. You may have loans, grants, or scholarships to begin with, but if you choose your major wisely you won’t need to worry about the financial responsibility, because you’ll increase your income substantially.