At Christmas, while the children are impatient with the idea of unwrapping their gifts, the older ones receive most of the time, envelopes of money. Failing to find the perfect gift, this practice can be simpler and more practical, thus avoiding offering a gift that may displease. Here are some tips for using the gifts received at Christmas.
It’s the end of the year, it’s time for festivities. It often happens to see Santa Claus slip a few envelopes containing money or a check under the tree. If in this case, you receive money at Christmas, several possibilities are available to you. While it may be tempting to spend them for fun, it would make more sense to save or invest them. If you’ve received a sum of money and still don’t know what to do with it, here are some tips to consider.
Considered an end-of-year bonus, the first reflex you adopt after receiving money as a Christmas gift is to spend it. Although you are in a stable personal and professional situation, it is still tempting to spend this amount of money. Nevertheless, building up savings to face the vagaries of life has become necessary. Here’s how to place your Christmas gifts.
Booklet A to save money received at Christmas
Whether you have a project in mind or not, it is wise to start building up reserves as soon as possible to ensure safety and savings. As for your Christmas gifts, you can place them in a regulated savings account such as the Livret A. Being the investment most used by the French, the livret A is exempt from taxes and compulsory levies. This means of savings also offers an advantageous rate of remuneration. The latter amounts to 2% at the end of the year.
You can also opt for other homemade passbooks with much more advantageous rates of remuneration but which will therefore be taxed. Putting your money in a passbook is a way to save it and withdraw it whenever you want.
If you already benefit from precautionary savings, it is time to embark on riskier, more efficient investments that offer better profitability. Only downside! Your funds will be blocked for a certain period of time. Although the need to withdraw these funds may resurface at any time, these means of investment remain highly appreciated by the French.
Life insurance is a great way when it comes to financing projects in the medium to long term. This has many advantages such as tax reductions, secure capital transfers or the possibility of converting your capital into a life annuity. On the other hand, you can also open a retirement savings plan (PER), which you can release and then receive either in the form of a life annuity or retirement capital.
If you are younger, you can also think about investing your money in stock market investments. By getting started, you will benefit from very attractive returns over the long term. However, investing in the stock market is as profitable as it is risky.. To be successful, training and familiarization with the financial markets may be necessary to develop your skills.
You will have understood it! Spending the money received during the holiday season is in no way wise. With these tips, you can save it or invest it more thoughtfully. This will allow you to be better equipped in case of unforeseen events!
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