If there’s one thing we all love about the new year, it’s the chance to have a fresh start in life, especially when it comes to money matters. You’re probably feeling pumped up right now, excited at the prospect of changing your financial situation from bad to good.

Some say that there are people destined to be wealthy such as Facebook’s Mark Zuckerberg and Koch Industries’ David Koch – both from the Taurus zodiac – who are in the list of the world’s richest 100. Let’s also not forget that the world’s billionaires choose their investments carefully.

So you ask: How, where, or when should you invest your money in 2018? Here’s our take:

  1. Use your tax refund.

    The outpour of holiday funds gets carried over to the new year, with most companies issuing tax refunds to their employees usually in the first quarter. You could use the amount you’ll be getting to kickstart or upgrade your investments whether it’s on bonds, stocks, or insurance.

You could also allocate your monthly benefits from the new tax law Tax Reform for Acceleration and Inclusion (TRAIN) to add to your investment funds.

  1. Leverage technology in your investments.

Technology is a very useful commodity in today’s world. Whether it’s through an app or a fund-raising platform, you could utilize relevant tools and services to accomplish your financial goals and investment objectives.

It could be as simple as using a mobile banking app with a feature that lets you automate your savings from your bank account.

  1. Diversify your investment portfolio.

    It’s a given that all investments come with a certain level of risk, but you could even it out by diversifying your portfolio. This means investing in both low-risk and high-risk holdings so that any losses incurred from the latter can be offset or cushioned by the former.

For example, you should never put all your investment funds in both stocks and Bitcoin, which has been hogging money news headlines lately since both of these are very volatile.

  1. Build your investment literacy.

If you have been putting off attending a financial literacy seminar, now is the time to finally make it happen. Investment literacy programs help you gain valuable investment ideas and insights, connect you with investment experts, and build your confidence in making sound investment decisions.

On top of it, you could take time to browse through various investment references online whether it’s books, blog posts, newsletters, and podcasts, among others.

Investment experts agree that the general rule is not to invest something that you can’t afford to lose. This makes it imperative for you to first draw up a plan of action, weigh the pros and cons, and ask for expert advice before parting with your investment money to make the most of your investment journey in 2018.

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