Saving should be a habit that we practice in our daily lives. Having an economic cushion serves to face difficulties, avoid falling into debt and facilitates meeting specific goals. However, saving is not enough, it is also necessary to invest in a group to protect our money from devaluation and generate returns that increase our savings.
Therefore, if we save collectively, be it with friends, partners, relatives or even strangers; we can achieve our goals of saving faster. By joining the money of several people in formal instruments, you can get higher returns. In addition, the group helps maintain the habit of saving and sharing best practices.
Therefore, we share four ways to save and invest in a group.
1. Shared bank accounts
Joint current accounts are products that have more than one owner. You can open an account with your partner, a relative or a friend; and agreeing to deposit a certain amount periodically. Since everyone has access to the same account status, it can be verified that each one makes his corresponding contribution.
There are three different types of shared accounts, depending on how you can withdraw the money:
- Indistinct or solidary current account: any of the owners can dispose of the money with a single signature.
- Joint or joint checking account: all holders must sign to make withdrawals, cancellations or modifications to the account.
- Current account with mixed ownership: precise requirements are established to perform various operations, for example, request the signature of at least two holders to make withdrawals.
The indistinct accounts are the most comfortable because all holders can withdraw money when they need it, but it can also cause many problems, if not used properly, so it is preferable to have this type of accounts only with people of great confidence. On the other hand, withdrawing money from joint or mixed accounts is more complicated, which encourages long-term savings and ensures that no improper withdrawals are made.
2. Money manager
If you prefer to avoid the mess of opening an account and go to sign a bank to dispose of your money, an alternative is to transfer a part of your savings, each time, to a person you trust fully. However, even if it is your best friend, your brother or your partner, you should always have proof of the amounts you contribute, whether through receipts or a contract.
The advantage of this alternative is that it can be a good strategy so that your money is not so accessible, avoid impulse purchases and save in the long term. The disadvantage is that it creates dependency on a person and gives you little flexibility to withdraw money.
It should be noted that you must ensure that the bank account you use must be configured to generate returns since the goal should be to grow savings taking advantage of the confidence and commitment of a group.
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3. Investment groups
In this group, your friends or your family gather to invest in a group, for example, in the stock market. Although in this modality there is also an administrator, everyone must lose the fear of investment, for this, it is necessary that each one carries out the monitoring of the development of the investment instruments that they use and participate in the decision making when selling or buying stocks or bonds.
This option is perfect because there is an exchange of perspectives, being able to take advantage of meetings with friends or family to propose different types of investments. It should be noted that, if the profits are greater than 100 thousand pesos, it is necessary to consider fiscal aspects in consultation with an advisor.
Another investment product with high returns is P2P Lending that is, the loan between individuals without the intervention of a bank. Fintech Kubo Financiero offers the possibility of gathering a group of friends and family members to invest in a group this sector, they provide advice and a preferential rate for the group to obtain higher returns.
4. Investment club
This form of investment, in general, is made with people we do not know, in a bank branch or through Fintech. To this end, a contract is signed with the entity in charge of managing the investment, which indicates the operating rules, the deposit and withdrawal limit amounts, the terms, the risk and the areas of diversification.
The advantage of an investment club is that it provides a methodology that facilitates the way to act in an investment, in order to achieve high returns.
An investment fund is the clearest example of a club of this type because it brings together the funds of people to invest in financial instruments such as stocks, bonds, local or foreign currencies, mortgages, among others. Some Fintech like Kuspit allow you to invest in mutual funds without going to a bank (38.14% of Kuspit users participate in this modality) and you can practice through their virtual test portfolio.
The crowd lending or collective and real estate funding is a mechanism for obtaining current yields by engaging a group. Briq, for example, brings together several people to pay for a real estate complex, which in the long term generates high profits.
In conclusion, savings and invest in a group can be developed with different people and in different modalities. You can start to raise money from the hand of your friends, your partner or relatives; in a shared account, which gives you higher returns than you would have if you save individually.
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With the passage of time, you can take greater risks in your investments to generate higher returns. So consider which option can help you strengthen your savings habit and meet your financial goals in the future.
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