Personal investment and financial management strategies and skills
With the rapid development of China's economy and the continuous improvement of people's income, the spare money in hand has gradually increased. In 2002, China's GDP exceeded 10 trillion, its tax revenue reached 17 trillion, and its national personal savings deposits exceeded 8.6 trillion. Suzhou's GDP exceeded 200 billion, and its fiscal revenue reached 29.08 billion yuan, a net increase of 8.02 billion yuan year-on-year, with an increase of 38%. Personal income levels have also increased rapidly. At the end of the year, the city's savings reached 65.438+065.438+064.33 billion yuan, and foreign currency savings reached 65.438+065.438+046 billion dollars, including 640 million dollars in foreign currency deposits, equivalent to 65.438+030 billion yuan in the city. Together with securities and bonds, the financial assets are close to 654.38+060 billion yuan, and investment and financial management are very urgent.
Of course, it also provides a strong material foundation for investment and financial management.
Financial management is to obtain greater income with limited investment and maximize its economic value; Financial management is to make your money grow from small to large, from big to rich, from rich to rich; Financial management is to keep your financial balance and effectively control your risks.
"National financial management" and "enterprise financial management" are not the focus of our discussion today. We must be more concerned about how to make our pockets no longer shy. "Personal finance" is a science that came into being to meet your needs. This is also an art of adding value to personal wealth. As long as you learn and master the skills of "personal finance", you can make more and more money in your hand by using your personal money reasonably and effectively! Today, with the strong support and concern of the Association for Science and Technology, we discuss this topic together. I'll make a speech first, and then we'll discuss and implement it together. I think everyone has good financial management ideas and methods. Maybe many people have succeeded. No matter what situation you are in at present, I hope today's lecture will give you wisdom and courage in personal finance again! Even if it is a message that inspires you, I will feel very happy. Today I will talk about three issues:
First, the necessity of personal investment and financial management.
1, financial management makes wealth. Thinker Hayek once said, "Money is the greatest tool of freedom invented by human beings". From the stone money in Yapu to the credit card in modern society, money flashes in every corner of people's lives. Although: "money is not everything", "no money is absolutely impossible." In today's society, everything that values money, whether it is labor, goods, feelings or friendship, is quantified and measured by money. Although it has been spurned by people, it is still popular and exists in reality. We can't turn a blind eye. As an economic man, a rational man and a normal person, everyone is eager to be rich. However, there will be no pie in the sky. If you are unlucky, if you don't have a rich ancestor, please act immediately and start managing your finances seriously. A gentleman loves money, takes it wisely and uses it properly.
2. Financial management is a part of our life. Whether you realize it or not, everyone is the chairman of his own life and career. It is not difficult for us to establish self-confidence and sense of responsibility. How to manage life is a long process, which requires hard thinking, bold practice and unremitting courage to face failures and setbacks. According to their age, occupation, family and other different situations, it is possible to create unique wealth in life by establishing their own financial concepts and ideas, setting up long-term planning schemes and forming their own unique financial style.
Everyone spends his life making money and spending money. Since people live independently, they are facing the challenge of financial management. Especially married people, have to deal with a lot of income and expenses every day. With the improvement of the social security system, everyone is in the transition from a unit person to a social person, and everyone should make a good financial budget and make a good plan for their own lives. How to plan your financial career scientifically? This is a hot issue of general concern in all aspects. Being good at financial management will make your life more harmonious, rich and prosperous, and realize the goal of building a well-off society in an all-round way put forward by the 16th National Congress of the Communist Party of China earlier.
3. Accumulate capital through financial management to lay the foundation for wealth growth. Reasonable financial management can make us have a sum of money in our hands, and we will not miss good investment opportunities because we are poor, so as to achieve the goal of increasing value and getting rich.
Second, the principles and strategies of personal investment and financial management. "Personal financial management" is not the patent of the rich, and there are no written standards and principles for financial management. The important strategy is that everyone should fully understand their own situation, including their age, assets and risk tolerance.
From the perspective of everyone's assets, it can be divided into "three stages", and financial management ideas are different. (1), when you are not rich, you'd better accumulate savings by force first. Although "a book can be profitable". But you must have the code "Ben". (2) When your basic life, such as food, clothing, housing and transportation, is guaranteed, and you still have a small balance, you can choose to invest steadily and expand your accumulation. (3) When you have money, you can choose some high-risk and high-yield investment projects on the premise of insurance.
From different age groups, financial management strategies should also be different. Investing by age is based on the principle of risk diversification, but it can generally follow the empirical formula of 100 MINUS the current age.
When you are 20-30 years old, you are young and have the strongest risk tolerance, and you can adopt a positive growth investment model. According to the formula of subtracting the current age from 100, 70%-80% of the funds can be invested in various channels, and these investments can be combined. At the age of 30-50, the number of family members is gradually increasing, the degree of taking risks is low, and the investment is relatively conservative, but the goal is still to make the principal grow rapidly. During this period, at least 50%-60% of the funds should be invested in risky investment varieties, and the remaining 40% should be invested in investment varieties with fixed income. 50-60 years old, children have reached adulthood, which is the peak of making money, but you need to control risks. You should invest at most 40% in venture capital and 60% in investment products with fixed income. Over the age of 65, during this period, most investors will put most of their funds into relatively safe fixed-income investment varieties, and only a small amount of funds will be invested in risky varieties to resist inflation and maintain the purchasing power of funds.
Based on the principle of stability, the "3222 1" portfolio investment and financial management strategy designed by industry experts can be used for your reference. The method is as follows: 30% of personal savings is used for saving for later use; 20% is used to buy bonds to increase income; 20% is used to buy stocks to seek high profits; 20% is used to increase the value of investment collection; 10% is used to buy insurance in case of accidents.
Third, the means and varieties of personal investment and financial management. In today's society, financial management means are changing with each passing day, and investment varieties are rich and colorful. You can make a comprehensive evaluation of yourself and choose the one that suits you from the dazzling financial management methods and varieties. Let me introduce 10 financial products and their tips for your reference.
1, safe and sound: savings deposit. Although the bank interest rate is very low, it is the safest at present. Savings has the characteristics of free access, high security and stable income, so it always occupies a large proportion in personal and family investment and financial portfolio. So, how to choose a suitable saving variety? There is still a lot of learning!
(1) Daily living expenses, if you need to carry them with you, you can choose current savings, which is like your wallet and can meet the sporadic income and expenditure of daily life. But the interest rate is very low, with an annual interest rate of only 0.72%. So demand deposits should be reduced as much as possible.
(2) When you have a sum of money to use in the near future, but you can't determine the specific date, you can choose to save both.
(3) If you have a deposit and are not prepared to use it for a long time, you can choose lump-sum deposit and withdrawal, and you can get relatively high interest.
(4) Working-class people often want to gather small balances into a large sum in a planned way at ordinary times for future use. Regular installment savings can "remind" your monthly savings and help you make ends meet.
(5) If you have a capital of more than 10,000 yuan, and you want to get interest on a regular basis every month for your daily expenses without using the principal, time deposit with deposit and interest is undoubtedly the most suitable variety, with three-year and five-year deposit periods for you to choose from.
(6) At present, the bank has opened foreign currency deposits such as USD, JPY, EUR, HKD, GBP, CAD and AUD. If you hold other freely convertible currencies, you can convert them into any of the above currencies according to the foreign exchange rate announced by the bank on that day.
(7) Education savings. Education savings is a special policy savings set up by the state to encourage children to receive education, and enjoys two preferential policies: first, it is tax-free. The interest tax collection method stipulates that the interest income of education savings is exempt from personal income tax and becomes tax-free savings; Second, lump-sum deposit and withdrawal enjoy lump-sum deposit and withdrawal interest, and the preferential interest rate is above 25%. The term of education savings deposit is 1 year, 3 years and 6 years, and it is a fixed-term deposit with zero deposit and lump sum withdrawal. The minimum deposit for each household is 50 yuan, and the maximum deposit is 20,000 yuan. Education savings are registered in real-name registration system. When opening an account, the depositor should hold the student's own household registration book or ID card and deposit in the bank in the name of the student. When the withdrawal expires, the depositor will withdraw the principal and interest in one lump sum with the passbook and the original non-compulsory education admission notice or the school certificate.
If you are in urgent need of money, it happens that your time deposit in the bank will expire in a few days. Don't forget that the personal time deposit certificate (discount) of the bank is a small pledged loan. You can use the unexpired RMB and foreign currency certificates of deposit as collateral to solve your urgent needs and reduce your interest losses. Some commercial banks cut the interest rate of pledged loans by 10%.
2, a card in the hand to travel the world: credit card consumption. At present, banks in China have debit cards and credit cards. The circulation has reached 400 million. In fact, it is a quasi-credit card, and there are only hundreds of thousands of credit cards in the real sense. Debit cards are deposited before use. No overdraft, no annual fee. Credit card is a credit card that can be consumed first and then repaid within the specified credit limit. According to the overdraft limit, an annual fee ranging from 20 yuan to 100 yuan will be charged. There are many kinds of bank cards in Suzhou, such as 10, Great Wall Card and Huaxia Card, which are really colorful. All banks have made great efforts to cross the ocean, and spared no expense to develop relatively perfect card functions, such as deposit, withdrawal, consumption, salary payment, pension payment, withholding water, electricity, gas, telephone, mobile phone, insurance, road maintenance, medical care, pharmacy and so on. It brings great convenience to your life. Citibank will buy a 5% stake in Shanghai Pudong Development Bank for $67 million in cash in the first phase. Citibank refers to the credit card market and participates in the development of credit cards. Everyone should make good use of the bank credit card policy and get the hang of it. Paying attention to whether the credit card is discounted can save you a lot of money. Especially credit cards, if you master the following three tips, you will get more benefits.
Tip 1: Use the interest-free period. Interest-free period refers to the time between the loan date (bank) and the due repayment date. Because customers have swiped their cards to spend money, they enjoy different interest-free periods. Take Longka of China Construction Bank as an example, its bank bookkeeping date is 20th of each month, and the due repayment date is 15 per month. That is to say, if you swipe your card on February 20, 65438, you will enjoy a 25-day interest-free period until June 65438+ 10/5, 2003. However, if you swipe your card on June 5438+February 2 1, you will enjoy a 55-day interest-free period. Tip 2: Make good use of the revolving credit card limit. When you overdraw a certain amount and can't pay it off in full within the interest-free period, you can pay the minimum repayment amount according to the amount you borrowed, and then you can reuse the credit line. However, overdraft interest shall be paid at the rate of 0.5 ‰ per day for the overdraft part. Use with caution. Trick 3: Get a higher credit line. The overdraft function of credit card is equivalent to credit consumption loan. The credit line is related to the credit rating of the cardholder, but if you want to apply for a higher credit line, you need to provide relevant asset certificates, such as property certificates, stock holding certificates, bank deposit certificates, etc. , can help you increase a certain credit line. It is worth noting that banks prefer customers with stable jobs and high academic qualifications. Higher credit lines are relatively easy to apply for.
Cardholders should pay special attention to the following points:
(1), do not store large amounts of cash in the card;
(2) Remember the password, and don't use your birthday or the last few digits of your ID card as the password;
(ATM must take away the receipt after depositing and withdrawing money. At this stage, due to the clever criminal methods, cases of cloning credit cards have occurred from time to time. But it's safer to use cards than cash.
3. Slow and steady: bond investment. At present, the deposit income is low and the stock market risk is high, so bonds are indeed a better investment variety. At present, the bonds that individual residents can invest in mainly include: government bonds, corporate bonds and convertible bonds.
(1) national debt. National debt is a financial instrument guaranteed by the government's reputation, which has the advantages of good reputation, low risk and high income. Known as "Phnom Penh bond", it is favored by the public. In recent years, new functions of early withdrawal and listing transactions have been added. Although the interest rate of national debt fluctuates with the rise and fall of bank interest rate, it is generally higher than the deposit rate of the same period 1-2 percentage points, and interest income tax is exempted, so families can invest part of their funds in national debt. The investment methods of national debt can be divided into two categories: one is to buy unlisted certificate-based national debt; The other is to buy listed second-hand government bonds. However, it is often said that "there is no investment skill in speculating in national debt, so just put it there when you buy it". So, are there any skills to invest in national debt?
Strictly speaking, the statement that "national debt has no investment skills" cannot be completely wrong. The investment strategy of national debt can be divided into two types: passive investment strategy refers to buying national debt at a suitable price and holding it until maturity, during which no trading operation is carried out. In a sense, it is the so-called "no ability" mentioned above. Active investment strategy refers to judging the price trend of national debt according to the changes of market interest rate and other factors, buying at a low price and selling at a high price to earn the bid-ask difference.
What investment strategy to adopt depends on your own conditions. For investors who are not familiar with treasury bonds trading for the purpose of preserving value, it is safer to adopt passive investment strategy. First of all, we should determine the available period of funds according to our living expenses, and then choose the variety of national debt with the corresponding period. Secondly, when the price of national debt falls to a certain extent, buy and hold it until maturity. At present, the 17 bonds listed on the Shanghai Stock Exchange can be roughly divided into three types: short, medium and long. Short-term varieties are mainly 000896 coupons, and the yield is higher than the bank deposit interest rate. For investors who need money in the short term, you can consider buying this coupon. There are many kinds of midline. Investors with useful funds after five or six years can consider buying 009905 or 0 10 103 coupons. Long-term investors can consider buying 0 10 107 coupon, paying interest once every six months, and the yield is higher. For those who are familiar with the market, if they want to get more income, they can adopt active investment strategies, and the key is to judge the trend of market interest rates.
It is worth noting that some people think that the stock market is risky, so they usually don't care much about the stock market when investing in government bonds. This is a misunderstanding and is likely to cause losses. Experience has proved that there is a seesaw effect between the stock market and the bond market. In other words, the stock market fell and the price of national debt rose; The stock market rose and the national debt fell. For example, on June 24, 2002, due to the national policy of "stopping the reduction of state-owned shares in the domestic securities market", a "blowout market" with crazy rise broke out overnight in the stock market. Under its catalysis, the bond market suddenly fell into a one-day short-term plunge. Take the coupon collection 0 10 107 as an example. On June 24th alone, it plunged 1.99 yuan, exceeding its maximum increase of 1.09 yuan created on May 24th. Therefore, investors in treasury bonds should not ignore the stock market, but also pay close attention to the impact of the stock market on the treasury bond market to determine the entry and exit points of investing in treasury bonds.
(2) Corporate bonds. Investors can also shop around to buy corporate bonds. Some corporate bonds are also investment products that are exempt from interest tax, and the interest rate is 1 to 2 percentage points higher than the national debt interest rate in the same period. At present, there are many corporate bonds issued in the market. You can choose a product with credit reliability above AA level, guaranteed by a large group, company or bank, with high popularity, which can be listed or has been listed as your portfolio. On June 30, 2002, 65438+February 30, 2002, the policy of "corporate bond repurchase transaction" was officially promulgated in Shanghai Stock Exchange. Previously, due to the announcement of the news, the corporate bond market suddenly warmed up and became a hot spot for investment. However, how much investment value can corporate bonds have? Here, I'll do the math for you.
First of all, from the perspective of coupon rate, corporate bonds are higher than deposit interest rates. For example, in April and June, 2002, two bonds of Jinmao and Capital Highway Construction were issued with a term of 65,438+00 years and fixed interest rates of 4.22% and 4.32% respectively. Shenhua bonds issued on July 24th have a maturity of three years and a fixed interest rate of 3.5 1%. The maturity of bonds issued by COSCO Group in August is 65,438+05 years, and that of coupon rate is 4.58%. The maturity of the 2002 Three Gorges bonds issued on September 20th is 20 years, and that of coupon rate is 4.76%. Generally speaking, these corporate bonds pay interest once a year and repay the principal at maturity. Compared with the current one-year and three-year deposit rates of 1.98% and 2.52%, and the average interest rate of national debt of about 2%, the coupon rate of corporate bonds is really attractive.
Secondly, from the perspective of the return on investment in the secondary market, corporate bonds entered a bull market in 2002. For example, on June 6, the first day of listing, "0 1 Guangdong nuclear debt" closed at 106.95 yuan, with a premium of 6.50%. The premium of "0 1 Three Gorges 10" listed on April 19 reached 9.89%. For another example, 0 1 Three Gorges Debt was listed on April 19, and opened 1 10 yuan. Then it soared, reaching 1 19.48 yuan on May 29th, equivalent to an annual rate of return of 38.65%.
This trend is much higher than the average yield of 2.4 1% national debt.
Thirdly, corporate bonds also have investment opportunities in the "first-and-a-half" market. As all the old investors know, it was profitable to speculate in the stock market at "1: 30" in the past, and the subscription of new shares was waiting for listing. The current corporate bond market is similar to the "1: 30" market of the stock market at that time. The reason is that the proportion of corporate bonds listed is relatively small. Since June 1 65438+1October1"Shenzhen Stock Exchange" went public, only 13 corporate bonds have been listed and traded in eight years. Once corporate bonds are listed, they will bring excess profits to investors. For example, it is also a 0 1 Three Gorges bond, which was issued in the month of 200165438 10, with an annual interest rate of 5.2 1% and a term of 15. After the listing application was approved, it opened higher in April this year 1 10 yuan. Calculated, the annualized rate of return is around 20%, which is much higher than the coupon interest income. Because of this, bonds with listing concepts that are less likely to be listed, such as Three Gorges, China Mobile, Guangdong Nuclear Power, Railway and Electric Power, are highly sought after. Therefore, in the current downturn of the stock market, there are still many opportunities to invest in the primary market of corporate bonds.
(3) There is a special kind of corporate bonds-convertible corporate bonds.
What is a convertible corporate bond? Convertible bond is a special kind of corporate bond, which can be converted into common stock at a specific time and under specific conditions. Convertible bonds have the characteristics of both bonds and stocks, and have the following three characteristics: (1) creditability. Like other bonds, convertible bonds stipulate interest rates and maturities. Investors can choose to hold mature bonds and collect principal and interest. (2) equity. Convertible bonds were pure bonds before the conversion, but after the conversion, the original bondholders changed from creditors to shareholders of the company, and they can participate in the business decision-making and dividend distribution of the enterprise. (3) convertibility. Convertibility is an important symbol of convertible bonds, and bondholders can convert bonds into stocks according to agreed conditions. Converting shares is an option that investors enjoy but ordinary bonds do not. When convertible bonds are issued, it is clearly stipulated that bondholders can convert bonds into common shares of the company at the price agreed at the time of issuance. Investors of convertible bonds also have the right to sell bonds back to issuers. Some convertible bonds are attached with a resale clause, which stipulates that when the market price of the company's shares continues to be lower than the conversion price (that is, the price of convertible bonds converted into shares according to the agreement) to a certain extent, the bondholders can sell the bonds to the bond issuer according to the agreed clause M, and the issuer of convertible bonds has the right to redeem the bonds forcibly. Some convertible bonds are issued with a mandatory redemption clause, which stipulates that if the market price of the company's shares is higher than the conversion price for a certain period of time, the issuer can forcibly redeem the bonds according to the agreed conditions. Because convertible bonds have options that ordinary bonds do not have, the interest rate of convertible bonds is generally lower than that of ordinary corporate bonds, and issuing convertible bonds is helpful to reduce their financing costs. However, convertible bonds can be converted into company shares under certain conditions, which will affect the ownership of the company. Convertible bonds have the dual characteristics of bonds and stocks, and are welcomed by investors. In the early days of China's securities market, there were pilot projects of convertible bonds, such as Shenzhen Baoan, China Textile Machinery, Shenzhen CSG and other enterprises issued convertible bonds at home and abroad. 1996 the government of China decided to select qualified companies to carry out the pilot project of convertible bonds, and 1997 promulgated the Interim Measures for the Administration of Convertible Corporate Bonds. In 2002, more than 40 listed companies applied to issue convertible bonds, with a scale of 30 billion yuan. It is expected that bonds will have investment opportunities.
4. Stock investment. By the end of 2002, there were 1223 listed companies and 13 10 shares in Shanghai and Shenzhen stock markets, and 546.289 billion shares had been issued, including1679.94 billion shares in circulation. Although the rapid development of China's stock market has attracted worldwide attention in just ten years, the irregularity of China's stock market is equally shocking. The "circle money" movement of listed companies and the fraudulent practices of listed companies really make all shareholders hard to prevent. For example, in the four years of Yinguangxia, the company inflated its profits by 771567,000 yuan, which is unprecedented. There are also Dongfang Electronics and Zheng. Although the "Securities Law" has been promulgated and implemented, it will take a long time for stock trading to truly embark on the track of legalization and standardization. People are at a disadvantage of information asymmetry, so we must be cautious in investing in the stock market. If they don't grasp it well, they will lose everything. As experts in the industry say, there are both opportunities for profit and risks in the stock market. Therefore, the financial management strategy of insurance is that families can only invest 20% of their surplus funds in the stock market, or the money invested in the stock market is affordable. Never borrow money for stock trading, so as not to cause painful economic losses. Water can carry a boat, but it can also overturn it! Investors should pay attention to the top ten forecasts of China stock market in 2003 and control risks.
5. Foreign exchange transactions: foreign exchange investment. Foreign exchange investment, commonly known as "speculation in foreign exchange", is the sale of converting a freely convertible currency into another currency by using "foreign exchange treasure", and obtaining the exchange difference income through the exchange between different currencies. Bank of China and Bank of Communications are the main bodies in Suzhou, and ICBC, Agricultural Bank of China, China Construction Bank and China Merchants Bank have also carried out this business. Many investors who speculate in foreign exchange believe that the risk of speculating in foreign exchange is smaller than that of the stock market, but the income is lower than that of the stock market; Moreover, investors agree with the rate of return, that is, the annual rate of return of investors who do well is about 15%-20%. There is no problem in liquidity and convenience in the financial management method of speculating foreign exchange, and there is no minimum limit for bank account opening. However, it takes a lot of energy to speculate in foreign exchange. Investors need to master basic knowledge and learn certain technical skills. At the same time, they need to care about all kinds of financial information of major currency countries, understand economic data and accumulate experience in order to make a profit.
The opportunity to speculate in foreign exchange is also available every year. For example, the exchange rate of the euro against the US dollar, from 1999 65438+ 10/0/2, European countries implement a unified currency, and the exchange rate of the euro against the US dollar is 1:1.17, and then the United States. The exchange rate of the euro against the US dollar fell all the way to10.83 on October 3 1 day in 2000, with a drop of more than 40%. At the beginning of 2002, the euro began to rise. At present, 1 euro is exchanged for 1.05 USD, and the euro will rise again in 2003. When speculating in foreign exchange, we must be cautious in the face of emergencies. The foreign exchange market is changing rapidly, so investors must be cautious. If you don't have time to study it at all, or are not interested in it, it may be that stock trading and foreign exchange speculation are not suitable for you.
6. Focus on the long term: financial insurance. With the continuous progress of social civilization and the improvement of people's living standards, it has become a new fashion in modern life to spend money on insurance to keep safe. Buying insurance has the dual functions of preserving value and preventing unexpected risks. In recent years, the insurance business has been developing continuously. As a result of the competition, the types of domestic insurance business are more and more complete, and the services are more and more excellent, which greatly increases the people's choice. Therefore, as a way of family investment and financial management, insurance is increasingly favored by the majority of residents.
Traditional savings insurance has poor profitability and liquidity. Today, I mainly introduce investment insurance. At present, there are three main types of investment insurance: investment-linked insurance, dividend insurance and universal insurance. Insurance companies divide premiums into two parts: protection and investment. Investment-linked insurance generally does not guarantee investors' rate of return, and investors also bear investment risks while enjoying returns. Dividend insurance has a fixed low guaranteed interest rate. At the same time, investors have the right to obtain the actual operating dividend distribution of the company according to the insurance contract. Universal insurance also has a lower guaranteed interest rate. The advantage lies in the flexible payment, which can be fixed or irregular, and the insurance amount of the guaranteed part can also be adjusted. Investment-linked insurance is generally liquid, and if you surrender, the procedures are quite troublesome.