4 (Very) Important Things To Buy While You Are Still Single

4 (Very) Important Things To Buy While You Are Still Single

The 20’s are a crazy, care-free and wayward phase of your life. While a few frivolous buys are permissible from time to time, the money that you earn at this age should be invested in things that will bear fruits in the long run. Here are some things you should buy while you are still single.

Number 1: A Home

Investing in a house in your 20’s is a great way to secure your future. If you are still single and well into your 20’s then you are at an advantage; at this age, you do not have any added expenses or liabilities (aside from those of your own). For those of you living and working in the same city with your parents, buying a house may not seem like an investment that ranks very high on your must-buy list right now. But for those working in a different city putting your money into a house instead of renting an apartment could be a better idea.

What you should do?

Buying a house is a big deal and needs careful thought. In the long run it can become a huge family asset that can be passed down generations. Do a meticulous market research of the offers from different real estate agencies. Ask people who have prior experience in purchasing homes. List down your needs- if you plan to get married in the near future then you might want to consider buying a bigger house. Take time to assess your lifestyle. These few filters will help you to shortlist on your dream home faster.

Number 2: Wise Investments

Have you ever considered the fragility of life? And the impact your death might have on your loved ones both emotionally and financially. Manage your finances in the correct manner by investing your money in a good life insurance policy. Life Insurance should be purchased by everyone at some point of time or the other. But the benefits of getting one while you are still young and single are greater. You tend to get better rates due to the fact you do not have less co-dependants. You get the chance to safeguard the future of your primary care-givers, who are your parents. If you have any siblings or adopted children, they get a chance to reap the benefits as well.

What you should do?

Conduct a rigorous market research of the companies selling life insurances. Zero in on one that fulfils all your desired criteria. Ensure that your family continues to remain happy and prosperous even when you are not around.

Number 3: Travel expenditures

A lot of people often underestimate the benefits of travelling. There is really no alternative to it; travelling broadens the horizons of your mind and makes you more perceptive of the environment around you. The 20’s are the best time to go on adventure trips and explore the world. If you are unmarried or single then you have absolutely no liabilities or baggage tying you down. Make the most of this time while you still can. Cherish the memories and experiences.

What you should do?

If you had been dreaming about that going on a trek to the Himalayas or a backpacking trip then now is the time to go for it. Investing in travelling will be food for your soul and a treat for your eyes. Pick out a place you want to go to and then research about the when is the best time to visit.

 

Number 4: Investing in gold

Buying gold is actually a good way of investing your money. In case a severe crisis arises you can sell or pawn your gold and get good returns. The value of gold is always on an upswing, so you can use it as an asset.

What you should do?

You can purchase gold in multiple forms – physical or in an electronic form via various gold funds. Do your research on what method is more suited to your needs. Also study the prices of gold on a periodic basis and avoid buying it during festivals when the prices go northward.

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