8 tips for joining money in the short term
With good planning and efforts diluted over time, it is certain that you will be able to raise money. The problem is that many times, you can not expect to have a more stuffed budget. Fortunately, with some attitudes, you can have a favorable scenario, and discipline is a fundamental part of the process. To ensure your success in this endeavor, stay within our tips for earning money in the short term!
Set your goals
The fact that you need to raise money in a short time is usually due to very specific needs – buying a product, taking a trip or taking out some debts and getting out of the red.
Because you have little time to raise the money you want, you need to do good planning, and it starts with goal setting. Put on the tip of the pencil how much you want to put together and in how much time.
Search before you buy
To gather money in the short term, it is also necessary to make a series of adjustments in the routine to be able to economize where possible. When shopping – regardless of product – always research before you buy.
Be true to your pocket and search for more products. In some cases, the difference in price can reach a value of up to 600%. The more you search, the more opportunities to make good purchases at lower prices will come.
Not always the cash price is the price that the establishment is willing to charge for the product. Often it could be sold for a price of 5 to 10% less, but it is obvious that this is not of interest to the merchants.
But how to get this discount? Simple: asking. Bargaining is a good way to negotiate a price and achieve major savings.
Be less impulsive
When it comes to shopping, it’s important to remember that even if the price is more or less, it’s still an expense. That is why putting together money in the short term also requires you to buy only what is needed.
For this to be possible, impulsivity must be fought, like that desire to take advantage of liquidation just because everything is cheaper. In general, shopping for cash helps you make this reprogramming of the mind – when you see the money coming out of your wallet, the more likely you are to control yourself.
Choose short-term investments
Just saving will not make you build your equity in a short time. For this to happen, money needs to work for you, and that’s what investments are for.
It will be necessary to choose the short-term ones, and especially those that have good liquidity. In this case, one of the best options is the Treasury Direct LFT. With a maximum term of 2 years, you can withdraw this investment at any time without losing anything. In this case, you will receive values proportional to the investment time.
Investing in Bank Certificates of Deposit (CDB) from medium banks is also a possibility with excellent profitability. Bonds such as LCI and LCA have liquidity ranging from 3 to 24 months, with good yield and guarantee for investments of up to $250 thousand.
Some banks also offer investment funds that are linked to the CDI, as well as the CDB, and which have short-term redemption. For a portfolio diversification, this may be a good option.
Prefer to invest small values
Unless you already have accumulated value, if you expect to put together a good amount to invest, the whole process will be delayed. As you are in a hurry to raise money, the key is to invest small amounts.
The Treasury Direct, for example, allows investments starting at $30.00. Although a smaller amount is not going to have as many proceeds to a large amount, it is easier to invest and starts to yield almost immediately.
It’s no use investing and not knowing how much you got. There is no point in saving money in your everyday life without knowing the impact on your budget.
For this reason, it is essential to keep finances under control, as in registering entries and exits of values over the days. In addition to avoiding unnecessary spending, this will also allow you to plan better.
Reinvestites part of the receipts
Not least, extra attention should be paid to investment receipts. Reinvigorate part of them to ensure that their money continues to yield. If the investment provides monthly income, for example, apply everything that is not strictly necessary for your budget.
If it is necessary to redeem the entire amount at the end of a certain period, reserve part of the money to continue investing – so you will always have a financial reserve to turn to.