How to start investing and preserving your savings in 2022? EBA Odessa Financial Advice

26/ 09/ 2022

Considering complex valuation, the Ukrainian economy has fallen by 35% since 24 February. What is more, a large number of economists give a disappointing and vague forecast for the economic recovery. That is why these days Ukrainians are interested in the questions related to their funds. They are mostly trying to find ways of protecting their money during the full-scale phase of the war, where to invest their capital and so how not to fall into a financial pyramid trap. These and other questions were considered during the online-session on 22 September 2022 “How to start investing and preserve savings in 2022?” Tetyana Kernos, financial adviser, negotiator, and specialist in effective business government, discussed with the participants different questions, such as: how to start investing, what shall a person do if he has no funds for investments, and what is the best way of preserving one’s capital, considering the specifics of the war. Here are some pieces of advice that you may use before starting investing: First, it is important for you to decide which zone, “green”, “yellow” or “red”, you belong to. Investing is available for the persons from the “green” one since only in this zone are people that have higher incomes than expenses. At the same time, if you are in the “red” or “yellow” zones, it means that you have not to give up your thoughts about investing, but to look for a way to enter the “green” one. It is necessary to deal with your liabilities and assets. In this situation, liabilities are the properties that lead to expenses and assets are the things that bring in the income. Thus, you are either to remove liabilities from your life or convert them into assets, if it is possible. It is also in need to learn how to preserve one’s funds. A good way to do it is to diversify your portfolio, which means not to keep all your money only in one chosen way, but to distribute it, for instance, in currency. It is major to understand modern investing instruments which work during martial law: deposits: 1% - 5% - 10% 12% - 20%, precious metals 1%, crypto investments 0% - 1000%. The fourth way is to substitute your habits. Ms. Kernos mentioned: “The biggest impact in such situation will be changing your daily habits, for the power of habit + discipline + time gives the biggest effect” The EBA Odesa Financial Advice format was created in order to provide knowledge about financial literacy, to teach more conscious decisions about how to manage your and your family finances, and how to take advantage of different opportunities provided by the financial sector. On one hand, all this gives an opportunity for the bank system, non-banking institutions, and the real sector of the economy to enhance, on the other hand, it will create opportunities for family welfare growth. Financial literacy is a straightforward path to success and self-sufficiency!

These and other questions were considered during the online-session on 22 September 2022 “How to start investing and preserve savings in 2022?” Tetyana Kernos, financial adviser, negotiator, and specialist in effective business government, discussed with the participants different questions, such as: how to start investing, what shall a person do if he has no funds for investments, and what is the best way of preserving one’s capital, considering the specifics of the war.

Here are some pieces of advice that you may use before starting investing:

First, it is important for you to decide which zone, “green”, “yellow” or “red”, you belong to. Investing is available for the persons from the “green” one since only in this zone are people that have higher incomes than expenses. At the same time, if you are in the “red” or “yellow” zones, it means that you have not to give up your thoughts about investing, but to look for a way to enter the “green” one.
It is necessary to deal with your liabilities and assets. In this situation, liabilities are the properties that lead to expenses and assets are the things that bring in the income. Thus, you are either to remove liabilities from your life or convert them into assets, if it is possible.
It is also in need to learn how to preserve one’s funds. A good way to do it is to diversify your portfolio, which means not to keep all your money only in one chosen way, but to distribute it, for instance, in currency.
It is major to understand modern investing instruments which work during martial law: deposits: 1% – 5% – 10% 12% – 20%, precious metals 1%, crypto investments 0% – 1000%.
The fourth way is to substitute your habits. Ms. Kernos mentioned: “The biggest impact in such situation will be changing your daily habits, for the power of habit + discipline + time gives the biggest effect”

The EBA Odesa Financial Advice format was created in order to provide knowledge about financial literacy, to teach more conscious decisions about how to manage your and your family finances, and how to take advantage of different opportunities provided by the financial sector. On one hand, all this gives an opportunity for the bank system, non-banking institutions, and the real sector of the economy to enhance, on the other hand, it will create opportunities for family welfare growth. Financial literacy is a straightforward path to success and self-sufficiency!