The world has entered 2021 with a renewed sense of optimism as vaccination for COVID-19 started to roll-out. What is in sight, however, acts as a reminder that this is a phenomenon that will still be very present for the near future.
Reports of new strains and increased infections have forced further restrictions worldwide, as lockdowns are once again implemented.
The picture of the world economy makes taking a closer look at one’s personal finances even more sensible, and companies like Iban Wallet – that has kept working around the clock to maintain operations going on with high levels of service and responsiveness – may help with that task.
Given the physical restrictions that have been set forth, it is not surprising that the use of fintech apps has increased by 72% across Europe since the beginning of the pandemic.
Digital solutions are gaining both trust and importance, and while caution is the word of the hour, it is important to not cave to panic.
It should be noted that despite the challenges faced by vaccination initiatives and the results of the first weeks of the year, Christine Lagarde has backed the ECB economic outlook for 2021, aimed at a 3.9% growth. There are, however, concerns regarding the effects of the immediate economy, particularly for lower-income earners finding themselves unemployed.
This highlights the importance of not being dependent on a single source of income and making the most of the funds one has available.
In a word: diversification.
Through Iban Wallet, multiple products can be accessed in a hassle-free way. It’s possible to invest without a term and starting from just €1 with a projected 2.5% rate. Due to COVID, shorter term products are gaining relevance, with new terms ranging from 30 to 180 days – and better projected rates.
Because the economy and investments don’t always go hand-in-hand, it may pay to be more focused on the latter as to make up for potential economic shortfalls.
How can this be done?
Having accounted for emergencies, the fact that more and more people are staying at home could be seen as a potential engine of growth.
By channeling funds that would otherwise be used on other expenses, namely concerning leisure and social engagements, it is possible to turn a situation of hardship into financial improvement.
Furthermore, it can be a chance to better assess recurring expenses in order to keep them to a minimum.
After that, the question becomes where to make this allocation to.
Uncertainty should not be ignored, so options that are aimed for stability and flexibility are to be considered in the mix in order to make for a balanced portfolio.
For this, Iban Wallet provides access to some very interesting options that could fit these requirements. Its marketplace currently features investment products based on an aggregate bundle of different loans, accounting for diversification from the first moment. Although there are different timeframes that reach up to 5 years, the Account that provides high liquidity, enabling withdrawal requests at any time, with no predetermined term (besides its minimum €1 investment).
It’s never too much to remember that adverse situations can also entail opportunities to take advantage of. Since conditions are never ideal, moving forward is the only way to make progress, regardless of the situation at hand.
What is important is to take everything into account with objectivity and explore the possibilities.
Media Contacts:
Open Zeit Market
Sigrid Arteaga
[email protected]
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