Another year is nearly over and the Christmas holidays are just about upon us. As well as getting gifts for your loved ones this year, take some time to also give yourself a treat. And there is no better gift then one that will keep giving over the coming months – and investment!
December shouldn't be just about Spending
In december, if you're like me your credit cards or bank account is probably getting a bit of a workout. Not only have I bought gifts for my family and friends, I've shelled out for flights and hotel accomodation for a holiday. So with all this spending going on, it's important not to throw all your sensible frugal and investing habits out the window.
If you make no savings or investments this December, it's going to make starting next year on the right foot even harder. That's why I'm making a couple of investments this December. Just because everyone else is getting silly doesn't mean I have to too!
Make a One off Contribution to Acorns
This is an easy one. Regular readers of this blog know that I've been experimenting with Acorns – a savings and investment app. I'll be making a one off contribution this December to counter some of the spending I've been doing. You should do the same with your High Interest Savings Accounts or other investment platforms.
Open a CopyPortfolio Position
If you're looking to make a larger investment, then you might want to look at etoro's new CopyPortfolios. It's like an index fund but for social trading. Imagine starting the year with $5k growing in a CopyPortfolio!
Start a CopyTrade
Have you been following a trader for some time on eToro, wondering whether to take the leap or not? Use the end of the year to push you in the right direction and start investing. I'll be opening a couple of new copy trading positions this December. Although the markets won't be as active, there will still be plenty of movement to turn a profit.
Buy Some Stocks
For the past three years, I've given myself some stocks for Christmas. They've turned out to be a pretty good gift for myself. I like the feeling of satisfaction I get knowing I have something that isn't just going to be put away in a closet collecting dust. Use a broker that doesn't have huge fees like RobinHood or go the CFD route for fee free trades.
I hope this december you don't only focus on spending and at least hit some of your saving and investment goals. If you do, 2017 is going to be an amazing year.
Happy Holidays 🙂