To start investing, you don’t necessarily have to have huge amounts of money. You can look to use what little you currently have, or look get quickly get extra capital to bolster your proposed investments. In this post, we’ve taken a look at both of these scenarios to give you an idea of what approaches you can take on how to invest to make money.
Playing the Long Game
You don’t necessarily need to see ‘saving’ and ‘investing’ as two separate entities. Your first investment may well be in your own finances, so one place to start would to put your money into a savings account and play the long game. By this we mean save and accrue more capital over a fixed period, to then put more into your future chosen investment plans.
Another, arguably more straightforward, means of investing is to invest in company stock. Naturally, you need to be working for a business that offers this, but you can often find that as a member of staff you have priority or easier access to purchase and invest in your employer.
While the yield might not be as great as it would if you invested independently, you can also use an investment broker to handle this for you. The benefit here is the little capital you have is in the hands of experts, and brokers can open you up to a wider range, and potentially bigger portfolio, of investment opportunities. That being said, if you are going to use a broker, then comparing a few different options is typically for the best. On the Coincierge website for example, you can read all about a helpful online broker test that you should keep in mind when making your choice.
If you’re certain that you want to put money into something but feel you need more upfront, then you could take out a loan. Rather than simply heading to the banks though, you might wish to take our smaller amounts and there are providers who can offer smaller loans online, such as Likely Loans. However, wherever you secure a loan for your investments, you should remember to think about how you intend to repay this and look at the APR.
Another way to quick get access to more money is to simply have a clear out and get selling items you no longer need or use.
In the end, you can look to pursue a mixture of the above and look to both secure more funds as well as putting your initial smaller investments forward. The choice with this is yours, but a final tip here is to seek external financial advice first if you’re unsure of anything; this way you can be more confident that your finances safer and more secure.