Financial expert tips: How to improve your financial situation in the new year

Financial expert tips: How to improve your financial situation in the new year

According to a report by www.focus.de, financial experts emphasize that consumers should take more important measures before investing in ETFs. This includes taking out important insurance policies, paying off overdrafts and consumer loans, and canceling unnecessary subscriptions. Only then is it recommended to invest in ETFs, fixed-term deposits or overnight money.

Investing in ETFs gives many people a feeling of financial freedom. However, it is important to consider other financial aspects first. For example, insurance policies such as home and liability insurance, as well as life insurance and disability insurance, have a significant impact on consumers' financial security. Premiums remain low and, in the event of damage, the financial consequences are mitigated.

The effects of taking out the right insurance and paying off overdrafts and consumer loans help to stabilize consumers' financial situation. This can lead to greater investment capital in the long term as consumers have more money available to invest in ETFs, fixed-term deposits or overnight money.

In terms of the market, the demand for insurance products may increase, especially those that cover vital aspects. For the lending industry, increased repayment of overdrafts and consumer loans could mean less interest is earned, while the investment industry could benefit from increased capital appreciation as consumers invest more money in investments.