Great investment tips... from cats

If you are a cat owner you will know all about their independent ways. If don’t own a cat, you may have observed the fascination that cat owners have about feline behaviour. Cats are the masters of finance and we can all benefit from their investment prowess.

Here are six important lessons we can learn from cats.

If you can’t make time to lick all your paws - it’s OK to lick just one

You don’t have to figure out your entire financial life before taking the first step. Just get started and forget the excuses. This might mean consolidating your many super accounts into one, taking out life insurance, paying off your credit card debt, or starting a savings plan.

Beginning something today means you are way ahead of any of the best intentions.

Shed your fur coat

You don’t need to have all the luxuries of life today. Fast credit means it’s easy to buy that huge 3D TV but end up paying for it a lot longer than you’d planned. Debt can be a devil unless you use it wisely.

Feed me consistently - if not constantly

Once you have started a savings or debt reduction plan, keep it going. Make regular and steady contributions, however small.

Have the money taken automatically from your pay or bank account. That way you’ll never miss it. Just think if you could save just $150 every month and earn 7% you would have over $78,000 in 20 years.

Haughtily dismiss those things that are beneath you

Don’t be afraid to walk away from investments that don’t feel right. It’s your money and you are going to need it to launch your kids on their lives or fund your retirement.

If you don’t understand an investment or recommendations that are being made to you, say so. If you’re not comfortable, give a discerning sniff, put your tail in the air and move on.

It’s OK to be a bit jumpy and suspicious of everything

Err on the side of caution. There’s nothing wrong with taking your time to fully understand before you leap.

Bury anything that smells

You need to clean out your litter tray from time to time. Never be afraid to sell a bad investment. If you doubt that the investment will recover, better to sell it and invest what is left in something that you believe will perform better. As long as you learn from your investing mistakes, there is no such thing as a total loss. Take it from the cats!