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For many people, 2020 was the year that everything fell apart.

Financially, it was one of the worst in recent history, with job losses, an unstable economy and, of course, a global pandemic that fuelled it all.

Unfortunately, despite celebration as the clock struck midnight on December 31, leaving 2020 behind didn’t mean leaving behind all off the issues that came with it.

In this sense, 2021 could be shaping up to look much the same.

But, while it might be easy to dwell in the present, we need to look to the future.

To help you get on track financially in these strange times, Moneyweb has a few tips for staying on top of and growing your finances, through investment and savings.

Diversify Further Afield

South African stocks traded on the JSE represent less than 1% of global investment opportunities. If all of your investments are focused on South Africa, you could be missing out on some great opportunities.

Beware Of Scammers

There are always those who will try to take advantage of a dire situation.

Get-rich-quick schemes have been on the rise during the pandemic, preying on desperate people trying to make ends meet.

Right now, the most prevalent schemes involve Bitcoin and other cryptocurrencies, but they will undoubtedly take on different forms over the course of 2021.

If it seems too good to be true, it probably is.

Don’t Underestimate The Value Of Good Advice

Vanguard, a company based in the US, researched the effect of ‘good advice’ on investments, finding that those who were well-advised experienced up to an additional 3% growth in returns per annum.

Advice from experts can guide you through processes like suitable asset allocation, rebalancing behavioural coaching, and financial planning that meets both your immediate and long-term needs.

Handing your finances over to tried and tested professionals also offers great peace of mind.

I’m talking about people like the experts over at Consequence Private Wealth, who have made it their business to partner with you and your family to protect and build your wealth.

Save Save Save

Finding the right balance when it comes to money can be difficult, especially when you don’t have a lot of knowledge on how to properly manage your finances.

Work out your monthly budget and include a fixed savings amount that gets tucked away into an account that you don’t access.

One again, you can’t go wrong with a bit of expert advice.

If 2020 taught us anything, it’s that life is unpredictable, and even the most carefully laid out plans can unravel.

With the right help, however, you could see your wealth grow, ensuring your future, not only in the months ahead but in the years that follow.

[source:moneyweb]