Last Updated on April 9, 2018 by NandiNN
Personal finance is a relatively loaded topic, as it covers so many different areas of spending, lending, and investment. It essentially covers any financial decision you make, including taking out financial products like credit cards, loans, and finance agreements. It also takes into account any investments that you engage with. All of this information is drawn together in order to build your personal financial portfolio.
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While everyone will have a personal financial portfolio, it’s important that you ensure yours is as impressive as possible. This can open up all sorts of opportunities for you down the line, as if others can see that you’re responsible and wise with your finances, they are more likely to open doors for you in regards to later investments or loans. So, here are a few things that you can do to make your portfolio stand out from the crowd!
Engage with Hedge Funds
Hedge funds are a form of investment partnership that brings together numerous individuals who are looking to make a profit. You will form one of a group of investors who pool together assets which a “fund manager” will begin to invest in different parts of various markets. They will examine market trends and predict where your pooled money will best be invested.
This can help to make some serious returns that you may not have been able to achieve alone. While engaging with hedge funds can prove to be a little tricky (as your fund manager will only ever be predicting outcomes and can never completely guarantee a return), the aim of a hedge fund is to give you the best odds of not losing out on cash, regardless of whether the market peaks or drops. There are also pieces of automated trading software out there that can help your hedge fund have the best chances of success!
Become a Homeowner
Sure, it can be tempting to rent. It gives you a kind of freedom that homeownership doesn’t. You don’t have to build up such a large deposit before moving into a property (which means you can move into a given property more quickly) and you don’t have to commit to living in the same place for the foreseeable future. But there are so many financial benefits that come hand in hand with being a homeowner!
Not only do you start putting your monthly property payments towards something that you will eventually own, but being offered a mortgage and sticking to the agreed payments will prove that you can be trusted with money. It also exemplifies that you can adequately engage with real estate should you ever like to engage with this a profession or by buying a second property with the aim of renting it out.
These are just a couple of financial decisions that you can make that will help to build your personal financial portfolio, making it as bold and impressive as possible. Just make sure that you thoroughly think through anything that you might end up engaging with in order to ensure you can afford it in the long run!
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How to save money as a first time home buyer
How to pay off $10,000 of debt fast even on a small budget
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