10 Investment Tips For Savvy Savers

Financial PlanningInvestment


It’s only natural that expat savers want to make the most of the cash they have stashed in poor performing offshore bank and building society accounts.

However high their money mountains may reach, they need to keep making sensible financial decisions to keep growing their wealth.

To help savers get to grips with managing all that cash, here’s a checklist of points to think about:

Don’t fritter money away

That doesn’t mean stop spending, just not to waste money. The aim is to spend the income generated by the savings, not to diminish the nest egg

Don’t make rash decisions

A sure way to lose money is staking cash when failing to understand how the investment works. Keep things simple and do not succumb to temptation

Let bandwagons roll past

Fund managers have a saying – if you can see a bandwagon, it’s already gone past. Don’t jump on late because the investment is likely full valued.

Diversify investments

Another adage. Spread the money around. The idea is when one sector or region falls, another one steps up with a performance to match any dips or losses

It’s never different this time

Watch out for denial. If an investments are like accidents, the human factor plays a part in the outcome and people like to take credit and deflect blame. Always rely on your own due diligence and not someone else’s

Look who’s talking

Market pundits and fund managers sometimes have a motive for suggesting you invest in particular sectors or companies – take what people say at face value

Keep looking under the bonnet

Investments are like cars. They need fine tuning and continual maintenance to keep them performing. Set time aside for a regular review to see if you can tweak things to give a better return

Set performance targets

Most investors look at what they have and settle for that, but shrewd money managers work out what they need in the future and set a target to aim at.

Keep some rainy day cash

Unexpected spending always crops up, so keep some cash aside for emergencies – and maybe a little for unforeseen investment opportunities that pop up

Look for value for money

Test every investment for value. Consider more than just the price – what you pay can include brokerage fees and set up costs, administration and management fees and exit charges. Along with inflation, these can all erode gains


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