Why is it that when you have a lump sum of money, you only must spend endless amounts of money? Plus, the more you spend, the more money disappears in the blink of an eye. But there is another way to use money that the more you spend the richer you become. How s this way of spending money looks, let’s learn together.

1. Buy savings lottery

For those who like to gamble try to buy savings lottery tickets that earn interest and have the chance to win prizes every month. The savings lottery is like a fixed deposit with a fixed period. For example, the buyer must hold it to the maturity of 3 or 5 years and receive an interest rate that will be lower than the general savings deposit but don’t have to pay tax. Importantly, as mentioned above, there is a chance to win every draw. And if you buy to cover all the last numbers (Usually will require half a million baht) also have the right to win small prizes such as the last 2 numbers every draw. But if you have big luck, you might get a million. Buying a savings lottery has the advantage that the principal is not lost, interest is not taxed, has the chance to win every draw.

2. Buy debentures/government bonds

Use the money to buy debentures. Debentures are "debt instruments" that are issued by the private sector. Which is to raise funds for use in various businesses of the company such as investment in business expansion, to build a factory. Investment in debentures the buyer of the debentures will have the status of a creditor while the debenture issuer is a debtor who borrows money with a promise to pay interest on the loan at a fixed rate according to the duration of the loan agreement. If you are not confident in private bonds, you may consider buying government bonds. Issued by government agencies can have low risk and when the risk is low, the return is low as well. But it is certain that interest will be paid consistently because of the government guarantees.

3.Buy mutual funds

Try using the money to buy mutual funds because mutual funds can help manage our money to grow. By investing in mutual funds, the advantage is that there are experts to help manage the fund in accordance with the goals and objectives of the fund, so the buyer doesn't need to have expertise in investing. But before buying a fund, you should study the information or read the prospectus thoroughly before making an investment decision. For example, what assets is this fund investing in, who is it suitable for, who is not suitable for, how much is the risk, what fees are there, whether there is a dividend payment policy, what is the past performance, etc. Buyers should choose funds that match their objectives, goals, and acceptable risk level. Importantly, the purchase of funds does not require a lot of money, just having thousands of baht can start investing immediately. You can also buy funds on a regular basis using the DCA (Dollar Cross Average) technique or by buying funds every month for the same amount. The mutual fund has many assets to choose from, such as short-term bonds, long-term bonds, stocks, gold, oil, real estate, etc. Interested in investing in mutual funds with the SCB EASY application that are more than a thousand funds, see details at https://scb.co.th/en/personal-banking/digital-banking/scb-easy/how-to.html in investment services section.

4.Buy stocks

When it comes to buying stocks, many people might say that the more you buy, the more you lose. Plus, the money didn't grow as expected because the stock market is highly volatile and risky. Therefore, difficult to formulate an investment strategy. If not careful in addition to not being able to protect the principal, there is also a chance of loss. But investing in stocks is still a good choice because stock returns can beat inflation. You must know how to choose stocks with high security, i.e. stocks with high dividend yields. Usually, stocks with dividend yields should be above the inflation level. This should look for a high rate of return, for example, 5% or more. However, investments are risky before investing, one should study the information carefully before deciding.

5.Buy knowledge

The thing that is more valuable than money is knowledge. Because having knowledge can bring that knowledge to further career, leading to good investment ideas, leading to more money-making. Therefore, knowledge acquisition is essential in today's era where knowledge skills are rapidly changing. There are now online courses that can develop your knowledge and skills and help you upskills and reskills to stand out in the digital age. Most importantly, there are online courses that can be learned from both domestic and abroad and are inexpensive compared to the value of the knowledge you have acquired. And do not hesitate to use the money to buy knowledge for yourself.

You can see that whenever you know how to spend your money in the right way. It will allow you to find the secret of money that will multiply back to you indefinitely.

Reference :

https://www.set.or.th/set/financialplanning/lifeevent.do?name=lifeevent_detail_postretire-6&innerMenuId=47