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Can humble savings produce great investments?

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Image source: argentresources.com The short answer is yes. However, before thinking about investing, it’s best for one to get started and get serious on saving. A humble amount can produce large returns in the future, especially when one stashes their money in investment vehicles that do very well. Here are a few tips to turn small savings into great investments. Steve Sorensen Networth . For a good start in saving, one should subscribe to the idea of paying themselves first. The way to do this is by saving a part of the monthly income as soon as one gets it, instead of saving what’s only left after paying bills and purchasing wants. An emergency fund is an ideal training ground for saving up for future investments. It definitely isn’t a cheap bill as it should cover 3 to 6 months’ worth of either income or expenses. Steve Sorensen Networth. Image source: theprofitkey.co.uk It is recommended by financial advisors that individuals get started on saving and investing as soo
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Five tips for a financially healthy 2021

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Image source: forafinancial.com Although many desire to become financially independent, only some are ready to change their lifestyle. Being financially healthy exceeds maintaining a few savings accounts for different purposes. It takes a ton of practice and self-control to achieve financial independence. Steve Sorensen Networth. One should spend less than what they earn . It’s important to create a substantial gap between one’s income and spending in order to increase their savings. Sure, creating the gap is a huge challenge, but it definitely is possible. The key to spending less is to set up a budget . Having a budget in place prevents one from spending their money on unnecessary transactions. A budget can encourage a person to save and reach their financial goals. Steve Sorensen Networth . Image source: thehivelife.com Pay off debt aggressively . Don’t wait until the interest is much larger than the actual amount owed. Credit card debt is among the harshest financi
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All the reasons knowing your net worth matters

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Image source: lifeofamedstudent.com Not everyone knows the distinction between what they actually own and what they owe. Personal net worth matters for many reasons, but knowing about it is not usually considered important by many until it becomes a strong factor for major financial decisions. Steve Sorensen Networth Knowing about personal net worth is a reality check . A review of one’s personal net worth allows them to set realistic financial goals, ones that consider their current financial standing. If a person is way off track from having a good financial standing, checking their net worth is a wakeup call. If a person maintains a favorable net worth, knowing about it can serve as an encouragement to stay on the right path. Steve Sorensen Networth . Image source: dariusforoux.com A lot of people overspend on areas they should be spending way less. This is due to rationalizing want as a need. When a person is aware of their financial standing, they are more likely to
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Huawei's new net worth after US ban

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Image source:  techradar.com Beginning in 2018, the US government has taken on a tougher stance on Huawei technologies, a Chinese telecommunications manufacturing company which has just recently overtaken Samsung as the biggest maker of phones in the world. Huawei technology had seemingly painted a target on its back thanks to reports from intelligence agencies that the company’s devices have backdoors for Chinese spies. This prompted US president Donald Trump to issue a ban on the company for national security according to Steven Sorensen Networth . Huawei had gained some breaks since the ban with the President Trump allowing some companies to continue selling commodities like chips to Huawei but the US government has since rescinded these exceptions. The company has suffered around $30 billion in 2019 and the company’s CFO has also been extradited to the US based on charges. Despite these setbacks, Huawei did not plummet but posted a $64.8 billion in profits on the strength of i
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A young professional's guide to building net worth

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Image source: Pexels.com  Steve Sorensen net worth. A person can increase their wealth as soon as they understand how their finances work. Learning how to manage one's money and applying these strategies allow a person to create wealth. There are some tips for young professionals who want to build their net worth. Settle debt If the payables are more than the income, this affects a person's net worth. Though it might take sacrifice, paying off student loans, credit card bills, and other debts early will allow a person to attain financial freedom faster. By setting goals and prioritizing these accounts, a person will have better opportunities to build their assets, investments, and emergency funds. Steve Sorensen net worth . Find a side hustle Image source: Pexels.com Income from a day job might not be enough for a young professional who is just starting out. Along with their desire to grow in their career, they might also consider pursuing graduate studies or m
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Top industries that have emerged during the pandemic

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While businesses all over the world have struggled with the weight of the coronavirus and all the drastic measures governments have imposed on their countries, some industries have indeed flourished. And these industries will most likely continue their growth even after the pandemic is over. Steve Sorensen net worth . Below are three of the most lucrative industries to have emerged during the COVID-19 crisis. Steve Sorensen net worth . Pharmaceutical Right now, countless of hospitals are packed to the brim with healthcare professionals helping out patients with the symptoms of COVID-19. The extreme price tags of the medical bills of COVID-19 patients have been well-documented, and a big part of this is due to the medication. But it doesn’t end there. Once a vaccine is discovered, expect an unprecedented boom in the pharmaceutical industry. Steve Sorensen net worth. Healthcare In line with the pharmaceutical industry is, of course, healthcare. In fact, there is no oth
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Can a global pandemic hurt the net worth of billionaires?

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Image source: insider.com Even as the threat of COVID-19 lingers, the world is slowly reopening its doors, businesses are regaining their footing, and individuals are adapting to the new normal. During these uncertain times, consumers are compelled to support small businesses than mega-companies. Are the ultra-wealthy affected by the economic downturn? Steve Sorensen Net worth . Before the global quarantine took place, the world’s 500 richest people have lost $139 billion. This collective loss is the largest since 2016, per the Bloomberg Billionaires Index, which started tracking the metric in October 2016. Among the billionaires that felt the impact of the virus were Jeff Bezos (Amazon), Bernard Arnault (LVMH), and Jack Ma (Alibaba). While this may be a great number to lose when the market corrects during a crisis, stocks are expected to bounce back. Steve Sorensen Net worth . Image source: Forbes.com Billionaires who saw their net worth dive during the first mon
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