Money Matters: 3 Assets to invest your money in to grow your wealth portfolio in your 20s - The Sauce
Connect with us

Hi, what are you looking for?

Lifestyle

Money Matters: 3 Assets to invest your money in to grow your wealth portfolio in your 20s

Building wealth as a young person is a huge task. It’s easy to get tempted by simple luxuries and focus on accumulating liabilities instead of assets.

Liabilities don’t generate any income for us and they eventually end up being a burden. Assets on the other hand, improve your financial prospects. Here are three assets you can buy when your next paycheck comes:

1. Shares

One of the simplest and easiest assets to buy is shares. By buying shares, you become part owner of the company and the profits they make also trickle down to you. With as little as Ksh 2000, you can buy shares from any public trading company at the Nairobi Stock Exchange. Once you open a CDS account through your bank, you can trade through a stock broker. Some banks and brokers also allow for clients to make mobile phone transactions. Instead of spending your money on yet another phone you absolutely do not need, think of directing your earnings to something as simple as shares and build up with time.

2. Books

Here’s something you should consider: it’s important to actually buy books, even if it’s online, as opposed to downloading it from free sites. This is because when you pay to get value, you will ensure you get your money’s worth from the book. When you get books for free online, most of the time, you end up not making adequate use of them. Books are vital assets because they contain the knowledge you need to succeed. Another tip when buying books is once in a while, buy books that are not in your usual area of interest and learn something new. Curiosity, quenched by books, is valuable on your mission to build wealth.

3. Investments

There are tons of investment packages you can get into. From M-Shwari, to money market funds to saccos. Instead of spending your money on more items of clothing which you probably do not need, think of channeling the resources to an investment platform. Investing earns you money that you can always use for a rainy day. It’s also important to do a bit of research before committing to any investment plan so that you are aware of what you’ll get after a given period of investing and how charges would affect your savings.

Advertisement. Scroll to continue reading.

As youngsters, we often spend more on liabilities such as unnecessary loans which lead to bad debt, buying unnecessary gadgets, clothes that we had not budgeted for and this hampers our growth. All it takes is a simple change in mindset on how to acquire more assets over time as opposed to what will weigh us down.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Some More Sauce...

Lifestyle

Kenyans on Twitter woke up to an explicit video that has since gone viral. In the video, a woman who is known on social...

Da Squeeze

Kenyan beauty Tanasha Donna Oketch recently opened up about her life. The 24 year old former radio presenter, musician and mother of one is...

Featured

Ugandan TV journalist Simon Kaggwa Njala’s face has got to be one of the memed faces of 2019.   But how did this Ugandan...

Da Squeeze

Kenya has a robust matatu culture and some people around the world love it. Award winning American singer and dancer Chris Brown yesterday (23.03.20)...

Featured

The Free Mason society is known to be secretive and very private, but not anymore it may seem. The Freemason society based in Nairobi...

Da Squeeze

Kenyans on Twitter are not to be messed with, they bring guns to a knife fight. The hard-hitting K.O.T recently got into a Twitter...

Da Squeeze

Bongo star Harmonize launched his latest album over the weekend and his former boss Diamond Platnumz is on the frontline cheering him on. Wasafi...

Da Squeeze

Is there a woman making your heart skip a beat? She might be a secret woman of your life.  Most women love, but they...