What the Year of the Ox means for your money


It’s the Year of the Ox – and that means hard work will pay off. (Photo by Spencer Platt / Getty Images)

Everyone in the world breathed a sigh of relief when the year 2020 gave way to 2021.

And now, in mid-February, there is another change in the air; we are entering a new year in the lunar calendar.

On Friday February 12, we say goodbye to the year of the rat, and hello to the year of the ox.

What the year of the ox means

The Ox is known to be hardworking and symbolizes diligence, honesty, seriousness, selflessness and never needs to be the center of attention or to seek praise for hard work.

Where the Year of the Rat – the first of 12 animals in the zodiac calendar – symbolized change and quick-wittedness, the Year of the Methodical Ox will be that of endurance.

All of these traits together herald a good year for wealth building, says Heather McGovern, chief digital officer and marketing manager of MyState Bank.

“According to Chinese folklore, the one characteristic that dominates through the years of the beef is wealth,” McGovern said. Yahoo finance.

SHENYANG, CHINA - DECEMBER 20, 2020 - People buy ornaments for the Year of the Ox in the lunar calendar to welcome the New Year in Shenyang, Liaoning province, December 20, 2020.- PHOTOGRAPH BY Costfoto / Barcroft Studios / Future Publishing (Photo credit should read Costfoto / Barcroft Media via Getty Images)

Ornaments on sale for the Year of the Ox: (Photo credit: Costfoto / Barcroft Media via Getty Images)

Those born in the Year of the Ox – 2021, as well as 2009, 1997, 1985, 1973, 1961 – are also held in esteem, due to the role the ox plays in agriculture, she added.

Some famous people born as an ox include Barack Obama, Meryl Streep, Chrissy Teigen, and Kylie Jenner.

According to professional astrologer Jaime Wright, the most important trait you will need this year will be discipline. “All in all, it’s a year to recover, to make long-term investments (maybe it’s time to finally get into Bitcoin) or start a family.”

The Year of the Ox should also mean the economy will recover in the second half of this year, said Thierry Chow, Hong Kong-based feng shui master.

“The ox, in Chinese culture, is a hard-working zodiac sign. It usually means movement so hopefully the world will be less static than last year and get back on the move in the second half of the year,” he said. Chow said. CNN.

A family wearing face masks poses for photos next to the figure of an ox in Wuhan in China's central Hubei province on February 10, 2021, ahead of the biggest holiday of the year, the Lunar New Year, which inaugurates the Year of the Ox on February 12.  (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL / AFP via Getty Images)

A family wearing face masks poses for photos next to the figure of an ox in Wuhan in China’s central Hubei province on February 10, 2021, ahead of the biggest holiday of the year, the Lunar New Year, which inaugurates the Year of the Ox on February 12. (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL / AFP via Getty Images)

What this means for your career

You might think the Year of the Ox means it is a lucky year for the Ox – that is, those born in the Year of the Ox – but in reality it is the most unlucky zodiac sign in Chinese astrology. This year is marked by turbulence for the oxen.

“So there will be more changes and instability in general,” Chow added.

This year, quality will take precedence over quantity, and if you work hard you will be fine.

“You could also be recognized this year for projects that have been brewing for a long time below the surface and are now ready to shine,” Wright said.

In fact, this year is especially lucky for those born in the year of the rat, snake, horse and rooster.

KUALA LUMPUR, MALAYSIA - 2021/02/10: People taking photos of the Golden Ox 3D hologram projection at the Pavilion shopping center.  Chinese people around the world will celebrate the Chinese Lunar New Year and welcome the Year of the Ox which falls on February 12.  (Photo by Wong Fok Loy / SOPA Images / LightRocket via Getty Images)

KUALA LUMPUR, MALAYSIA – 2021/02/10: People taking photos of the Golden Ox 3D hologram projection at the Pavilion shopping center. Chinese people around the world will celebrate the Chinese Lunar New Year and welcome the Year of the Ox which falls on February 12. (Photo by Wong Fok Loy / SOPA Images / LightRocket via Getty Images)

What to do with your money

It will be essential to focus on building wealth this year, McGovern says, and it will be important to keep your finances under control.

“To prepare for the coming year, the Oxen might consider putting in place a more robust budget management system to prepare for rainy days,” she said.

“Use 2021 as a year to kickstart your savings and maximize your current situation so you can build your nest egg for retirement, which the beef would be comfortable in. “

According to the founder of Smart Women Society, Téa Angelos, a common budget mistake is that people think it must be difficult or uncomfortable.

“This is where people are really scared or put off by budgeting because they think they should cut out anything they can enjoy or anything that is fun.” she said Yahoo finance.

But your budget should also allow for social events and other enjoyable activities, she said.

The opportunities to make money this year will take effort, determination and persistence, said non-aligned financial adviser James Gerrard.

“Is this cryptocurrency trading? The real estate market? Actions? Who knows, that will reveal itself to you during the Year of the Ox, “he said. Yahoo finance.

Echoing McGovern, he stressed the importance of budgeting – especially for potentially tough times – and warned against overspending on discretionary and luxury items.

“Focus more on financial discipline and good budget habits,” he said.

“So, the Year of the Ox could be very lucrative for those who seize the investment opportunities and make a conscious effort to increase their savings.

Investment is an essential part of the growth of wealth. For those who don’t know where to start, ETFs – or exchange-traded funds – are considered one of the best ways to invest for beginners.

But you can also build wealth throughout your career, if you think about your job the right way.

Want 2021 to be your best (financial) year yet? Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the full free briefing daily newsletter.


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