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Oceanic Beginner's Guide to Investing in Digital Gold

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Discover the essentials of digital gold investment with our beginner's guide – your first step towards smart, secure, and convenient digital assets.

As times change, so do our investment strategies. For the modern investor, especially if you're just starting, venturing into digital gold can be a smart move.

Gold prices have risen over 125% in the last 10 years, demonstrating its strength as an asset class. There are a few key reasons why digital gold deserves consideration in your starter investment portfolio —

  • According to a World Gold Council report, gold can act as a hedge against inflation and currency risk.
  • When markets crash or currencies weaken, gold prices often rise as investors flock to its stability. Adding some gold can balance more volatile assets like stocks.

Best Methods of Investing in Digital Gold

When looking to add digital gold exposure to your investment portfolio, you have a few good options to consider.

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1) Gold ETFs

Gold ETFs (Exchange Traded Funds) offer a simple and flexible way to invest in digital gold. It is a commodity fund traded on a stock exchange that tracks the price of physical gold.

 

Each share of the ETF represents ownership of a small quantity of gold bars stored in certified vaults. Investing through Oceanic Finance Gold Trades allows you to buy or sell units of gold ETFs just like stocks.

Pros:

  • Extremely liquid - units can be bought and sold any time the market is open
  • Low investment amounts, often starting around Rs 100
  • Transparent holdings and prices
  • No storage fees or worries

Cons: 

  • Has an annual expense ratio, averaging around 1 per cent
  • No ownership of physical gold
  • Vulnerable to systemic risks in financial markets

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2) Gold Mutual Funds

Like gold ETFs, gold mutual funds aim to mirror domestic gold prices by investing in gold securities. The convenience and transparency are similar to gold ETFs but with slightly higher minimum investments.

Pros:

  • Professionally managed fund
  • Option for systematic investments like SIPs
  • Higher returns are possible through fund selection

Cons:

  • Expense ratios average 1.5-2 per cent 
  • No option to take delivery of gold
  • Vulnerable to systemic financial market risks

3) Sovereign Gold Bonds (SGBs) 

SGBs are government-issued bonds denominated in grams of gold. You receive 2.5 per cent fixed interest paid semi-annually, and the redemption amount equals the gold price on maturity. 

Pros:

  • Backed by the Indian government
  • Tax efficient - interest earned is tax-free
  • Can be used as collateral for loans
  • Convenient buying process online

Cons: 

  • Locked in for 5-8 year maturity periods
  • No option for early exit or trading
  • Quantity limitations on the purchase of each series

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When choosing between ETFs, mutual funds, and SGBs, consider factors like liquidity, costs, and investment goals. For instance, while gold ETFs offer liquidity and ease of trading, SGBs might be preferable for long-term investors due to their interest income and tax benefits

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New Minimum Now in Effect To all Goal Account users

 We're making a small but powerful change to help you reach your financial goals faster.

🔺 What’s Changing?

Effective immediately, all deposits must be increased by at least 50% compared to your previous amount.

Example: If you were depositing $400 weekly, your new minimum is $600 weekly.

💡 Why the Change?

At Oceanic Trust we believe no goal deserves to be kept waiting. This update is designed to speed up your progress and keep your goals within reach. We're here to support your journey — every step, every deposit.

👉 Need help adjusting your deposit? Visit your account dashboard or reach out to support.

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FINANCIAL MISTAKES ONE SHOULD AVOID

Many people struggle with money, but one of the keys to achieving better financial stability is avoiding some common financial mistakes. Even small, regular expenses add up over time and can put a strain on overall financial health, especially when credit cards are used. Accruing interest adds to the strain. On a larger scale, overspending on big-ticket items like housing and vehicles can make it difficult to manage finances.

Key Takeaways

  • Unnecessary spending, like dining out, can add up over time and strain your finances.
  • Regular expenses, such as streaming services, may not be essential and can be cut to save money.
  • Relying on credit cards for non-essentials can lead to high-interest debt and financial stress.
  • Overextending on housing costs can burden monthly budgets with taxes, maintenance, and utilities.
  • Lack of savings and retirement investment can jeopardize financial stability and future security.

1. Unnecessary Spending

It may not seem like a big deal when you pick up that double-mocha cappuccino or have dinner out or order that pay-per-view movie, but every little item adds up. Just $25 per week spent on dining out costs you $1,300 per year, which could potentially go toward credit cards or other payments, if you have debt. If you're enduring financial hardship, avoiding this mistake really matters.

That said, the key word here is "unnecessary." That's subjective. Maybe you really look forward to or need those cappuccinos or dinners or movies to maintain your mental wellness. A healthy financial life can include all of that. This type of spending just needs to be part of your budget. If you plan for it, and you can afford it, then enjoy it.

Fast Fact

The number of adults who said their finances were worse compared to a year earlier was 35%, the Federal Reserve's 2022 Survey of Household Economics and Decisionmaking report found. 35%—basically one in three—is the highest ever since the study began in 2012.1

2. Recurring Expenses

Ask yourself if you really need items that keep you paying every month, year after year. Consider things like streaming services and high-end gym memberships. Are these needs or wants? A cheaper gym may get the job done, allowing you to save the difference.

When money is tight, creating a leaner lifestyle can go a long way to cushioning yourself from financial hardship.

3. Excessive Credit Card Spending

Using credit cards to buy non-essentials is kind of common. But even if some people are willing or able to pay double-digit interest rates on luxury clothing and a host of other expensive items, it's not always wise to do so—unless you can pay off the card before the end of the month. Credit card interest rates make the price of the charged items a great deal more expensive. In some cases, using credit can mean you'll spend more than you earn.

24.62%

According to research by Investopedia, the median rate of interest across all credit cards in the Investopedia database for June 2024 was 24.62%.2

4. Vehicle Purchases

Millions of new vehicles are sold each year, although few buyers can afford to pay for them in cash. But financing can get tricky. After all, being able to afford the payment is not the same as being able to afford the vehicle.

Furthermore, by borrowing money to buy a vehicle, you pay interest on a depreciating asset, which amplifies the difference between the value of the vehicle and the price paid for it. Worse yet, many people trade in their vehicles every few years and lose money on every trade.

Maybe you have no choice but to take out a loan to buy a vehicle. But do you really need a large SUV? Such vehicles are expensive to buy, insure, and fuel. Unless you tow a boat or trailer or need an SUV to earn a living, it can be disadvantageous to purchase one.

If you need to buy a vehicle and borrow money to do so, consider buying one that uses less gas and costs less to insure and maintain. Vehicles are expensive, and if you're buying more than you need, you might be burning through money that could have been saved or used to pay off debt.

5. Overspending on Housing

When it comes to buying a home, bigger is not necessarily better. Unless you have a large family, choosing a 6,000-square-foot home will only mean more expensive taxes, maintenance, and utilities. Before you buy a home, consider the carrying and operating costs beyond your monthly mortgage payment. Do you really want to put such a significant, long-term dent in your monthly budget?

As you consider your housing arrangement, think through what's important to you. For example, how passionate are you about having a large yard? If it's at the top of your list, that's fine. Just be mindful that upkeep and maintenance may cost you in the form of hiring services, buying machinery, complying with HOA requirements, and paying for various home repairs that arise.

6. Misusing Home Equity

Refinancing and taking cash out of your home means giving away ownership to someone else. In some cases, refinancing might make sense if you can lower your rate or if you can refinance and pay off higher-interest debt.

However, the other alternative is to open a home equity line of credit (HELOC). This allows you to effectively use the equity in your home like a credit card. This could mean paying unnecessary interest for the sake of using your home equity line of credit.3

7. Not Saving

The U.S. household personal savings rate was just 3.6% in April 2024.4

Many households live paycheck to paycheck—and there's no sign of improvement.

Unfortunately, this puts people in a precarious position—one in which every dollar matters, and even one missed paycheck would be disastrous. This is not the position you want to find yourself in when an economic recession hits. 

Many financial planners will tell you to keep three months' worth of expenses in an emergency fund account where you can access it quickly. Loss of employment or changes in the economy could drain your savings and place you in a cycle of debt paying for debt. A three-month buffer could be the difference between keeping and losing your house. 

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Top 5 Financial Mistakes Everyone Should Avoid

Woman in cafe with shopping bags paying with a credit card

Many people struggle with money, but one of the keys to achieving better financial stability is avoiding some common financial mistakes. Even small, regular expenses add up over time and can put a strain on overall financial health, especially when credit cards are used. Accruing interest adds to the strain. On a larger scale, overspending on big-ticket items like housing and vehicles can make it difficult to manage finances.

Key Takeaways

  • Unnecessary spending, like dining out, can add up over time and strain your finances.
  • Regular expenses, such as streaming services, may not be essential and can be cut to save money.
  • Relying on credit cards for non-essentials can lead to high-interest debt and financial stress.
  • Overextending on housing costs can burden monthly budgets with taxes, maintenance, and utilities.
  • Lack of savings and retirement investment can jeopardize financial stability and future security.

1. Unnecessary Spending

It may not seem like a big deal when you pick up that double-mocha cappuccino or have dinner out or order that pay-per-view movie, but every little item adds up. Just $25 per week spent on dining out costs you $1,300 per year, which could potentially go toward credit cards or other payments, if you have debt. If you're enduring financial hardship, avoiding this mistake really matters.

That said, the key word here is "unnecessary." That's subjective. Maybe you really look forward to or need those cappuccinos or dinners or movies to maintain your mental wellness. A healthy financial life can include all of that. This type of spending just needs to be part of your budget. If you plan for it, and you can afford it, then enjoy it.

Fast Fact

The number of adults who said their finances were worse compared to a year earlier was 35%, the Federal Reserve's 2022 Survey of Household Economics and Decisionmaking report found. 35%—basically one in three—is the highest ever since the study began in 2012.1

2. Recurring Expenses

Ask yourself if you really need items that keep you paying every month, year after year. Consider things like streaming services and high-end gym memberships. Are these needs or wants? A cheaper gym may get the job done, allowing you to save the difference.

When money is tight, creating a leaner lifestyle can go a long way to cushioning yourself from financial hardship.

3. Excessive Credit Card Spending

Using credit cards to buy non-essentials is kind of common. But even if some people are willing or able to pay double-digit interest rates on luxury clothing and a host of other expensive items, it's not always wise to do so—unless you can pay off the card before the end of the month. Credit card interest rates make the price of the charged items a great deal more expensive. In some cases, using credit can mean you'll spend more than you earn.

24.62%

According to research by Investopedia, the median rate of interest across all credit cards in the Investopedia database for June 2024 was 24.62%.2

4. Vehicle Purchases

Millions of new vehicles are sold each year, although few buyers can afford to pay for them in cash. But financing can get tricky. After all, being able to afford the payment is not the same as being able to afford the vehicle.

Furthermore, by borrowing money to buy a vehicle, you pay interest on a depreciating asset, which amplifies the difference between the value of the vehicle and the price paid for it. Worse yet, many people trade in their vehicles every few years and lose money on every trade.

Maybe you have no choice but to take out a loan to buy a vehicle. But do you really need a large SUV? Such vehicles are expensive to buy, insure, and fuel. Unless you tow a boat or trailer or need an SUV to earn a living, it can be disadvantageous to purchase one.

If you need to buy a vehicle and borrow money to do so, consider buying one that uses less gas and costs less to insure and maintain. Vehicles are expensive, and if you're buying more than you need, you might be burning through money that could have been saved or used to pay off debt.

5. Overspending on Housing

When it comes to buying a home, bigger is not necessarily better. Unless you have a large family, choosing a 6,000-square-foot home will only mean more expensive taxes, maintenance, and utilities. Before you buy a home, consider the carrying and operating costs beyond your monthly mortgage payment. Do you really want to put such a significant, long-term dent in your monthly budget?

As you consider your housing arrangement, think through what's important to you. For example, how passionate are you about having a large yard? If it's at the top of your list, that's fine. Just be mindful that upkeep and maintenance may cost you in the form of hiring services, buying machinery, complying with HOA requirements, and paying for various home repairs that arise.

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