MELBOURNE, Australia, Aug. 30, 2022 (GLOBE NEWSWIRE) -- For those who are interested in growing their wealth but don't really know where to begin, the resources on offer can seem overwhelming; it's easy to lose hours - or even days - scrolling through articles and threads all claiming to share the best advice for investing and expanding upon savings. Hejaz Financial Services, experts in Halal loans and leaders in the Islamic finance sector, reveal the one simple trick to turning even small amounts of money into substantial amounts.
Hejaz Founder and CEO Hakan Ozyon reports that the key to growing wealth is in a regular, consistent investment pattern. Although investing requires a tremendous amount of discipline and patience, it is the easiest way to build upon small sums of money. For example, hypothetically, if someone invests $100 per week into an investment account that has a 5% average return and an initial amount of just $100, it will see nearly $30,000 in returns after only five years. By 30 years, this figure will turn into over $360,000. The only thing the investor must do is consistently deposit $100 into the investment account each week.
This example from the Halal finance specialists is aimed at highlighting the benefits of time and discipline and does not consider other factors such as taxation, fees and differing investment returns. These factors should all be considered by the individual.
The Sharia bank loans experts at Hejaz Financial Services warn individuals that while it's a simple method, it's not always as easy as it sounds. Investors must be extremely diligent when it comes to investing their money. This often means making sacrifices in their spending, such as dining out less and curbing their discretionary spending habits. To make it easier, Ozyon recommends sticking to a budget. Seeing the budget written down as a reminder of a person's longer-term goals often makes it easier to follow.
The important thing is to start as soon as possible, says Ozyon. The sooner someone starts to save, the sooner they'll see significant returns - plus, the less they'll need to deposit each week. The best time to start investing was yesterday - but the next best time is now, says the Halal home loan experts. For more information, call 1300 043 529.
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