The Investments You Should Make When You’re Young – Huffington Post Canada

Our 20s are when we really start to think about our financial footing. You may have opened a savings account when you got your first part-time job in high school, but the first few years after college or in the workforce is when the real saving and investing begins. It’s never too early to get smart about money. Whether that means preparing a proper financial plan or working towards putting yourself behind the wheel of the bold INFINITI, these are some ideas on how to grow your cash.

Build a portfolio

Sitting on your money may seem like a safe option, but making smart investments can help your savings grow faster. Consider speaking with a financial adviser to discuss investment options and think about your immediate and future goals — are you paying down debt, planning for retirement, or saving for a large purchase? Assessing your financial situation and preparing a plan puts you in control of your financial future. Reassess your plan on a yearly basis.

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Think about insurance

Buying insurance can be a good way to ensure financial stability if something unexpectedly goes south. Home or tenant insurance for example can help in the event of a flood; getting rear-ended won’t seem as bad if you’ve got an appropriate auto plan in place for your car, and missing work for a few weeks in the case of a medical emergency won’t be as hard to swallow if you have medical coverage. These payments can cushion the blow and prevent more costly expenditures so do your research and figure out what’s right for your set of circumstances.

Buying a car

Make sure your big purchases are well thought out purchases. Buying a car will be one of the most important decisions you can make, so you’ll want to invest wisely. INFINITI’s bold line of sleek and sporty coupes, elegant crossovers, and eco-conscious hybrids are all striking options. These rides are built to empower the drive and push past the norm.

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Keep on top of your debt

This may be easier said than done, especially if you’re just entering the workforce, but keeping your debt in check is key to your continued financial success. If you accumulated a lot of student debt, start putting away money from each paycheck towards that bill. Likewise, it’s easy to get carried away with your monthly expenses when you’re carrying a credit card or two in your wallet, but paying off those bills will save you from mounting interest fees.

Invest in yourself

You get what you pay for, and if you’re thinking about cutting corners by selecting cheaper products, you’re probably going to eat the cost in the end. Think about your wardrobe, for instance. It’s really easy to hit up a fast fashion outlet store in the mall to grab a stack of cheap shirts, but consider how many of those tees will break down after a couple of washes. It may seem crazy to go high end if you’re working with a limited budget, but try investing in one high quality coat or a couple well-tailored shirts instead of stocking your closet with a ton of drab and faded items.

INFINITI is always looking to remake, redefine, and generally improve the luxury driving experience. Learn more about how INFINITI invests in the future here.

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