Four Key Investments Worth Budgeting For

Watces

We all want a stable financial future. Debt can come to define your life, and even when you make a conscious decision to rid yourself of it. Instead, you have to make a choice to free yourself of your financial burdens, and know that doing so is not the sole step that you will have to take to achieve this. You will need to look at every aspect of your lifestyle, to see what’s worth spending money on, what you can do without, and where you can save. It doesn’t have to cost a lot either. Investing can start with any budget.

Yet living on less doesn’t mean economizing in every area. There are some things that are worth spending more on; that can be important investments to help secure your financial future. Here, we look at a few of them…

1. Jewelry

Jewelry is a considerable expense, but if the circumstance warrants splashing out on it, it’s important to choose with care. Weddings, engagements, birthdays, and anniversaries might all occasion gold and diamonds, and if you’re going to buy them, try to find the best quality piece that you can within your budget. Precious metals, in particular, are considered to be a ‘safe haven’ asset, meaning that even in times of trouble, they’ll usually hold, if not increase, their value. Dealers monitor the price of metals to decide how abundant, or in demand they are at any particular time. This means that when the price is right, they can be sold for a substantial sum.

2. Watches

Like rings, necklaces, and earrings, good quality watches are often a great long-term investment. The best known brands may come with a sizeable price tag, but they’re prized for their longevity, which means that they can often be a more economical long-term choice than cheaper and less long-lasting alternatives.

Their material value will also endure, with many vintage pieces expecting far more than their original value. Watches are also often passed down through generations, providing great back stories that will interest serious buyers. Brands such as Breitling, Tag Heuer and Rolex will always attract attention. This means that if ever find yourself short of cash, a good branded watch will always provide you with a valuable asset you can trade in or sell.

3. Vehicles

With the exception of the most prestigious makes and models, vehicles are famed for their speed of devaluation. No sooner has a car rolled off the forecourt than its price tag has decreased. Of course, buying a Porsche or Ferrari is not a viable solution, as much as we would all love one, and although these may become incredibly valuable vintage classics as the years pass, most of us simply don’t have the funds to purchase them in the first place.

Instead look into cars that have something of a cult status. Old Cadillacs, VWs and luxury cars can be quite cheap to purchase after their initial term of depreciation. But when kept in good condition, they can actually end up far exceeding their original value – especially once the production of their model has ceased.

These cult cars were once plentiful and relatively easy to find on a budget. But the next generation of cars are out there now and good knowledge of popular cars could earn you a safe investment in the future.

4.Property

Like everything else that you own, your home should be viewed first and foremost as an investment. It’s important that you love it, but more important still for a stable financial future is that it has a solid resale value. If you end up in negative equity it can be very difficult to find another house, so look for something you could maybe commit to do improvements on.

Superficial aspects like painting and cleaning can be done quite easily. More specialist improvements, like electrics, plumbing or structural changes can end up costing a lot to put right. So make sure you factor this in when viewing houses for the first time.

One way to check what the upper limit of your investment may be, is to check listings to find out what other houses have been sold for recently. If there is sufficient margin for you to make your improvements and keep some for yourself, then it may be a great investment.

Market factors can often be unpredictable, so it is always better to not rely on the area increasing in value over the course of your investment, as it may not. Instead consider this a bonus.

Bear these factors in mind, and you should be able to build the foundations of a solid financial future.

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