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If you’re looking to make some extra money on the side, then there are only so many times you can sell your things before you don’t have anything left to sell. You can make money online through things like surveys, I have done this many times, but what other ways are there?
Investing money can be tricky if you’re a newbie. But there are some fairly standard things that are good to invest in. If you have some spare cash that you want to see a return on, then what about investing in any of these?
Have a read through and see what you think and what might work for you.
Pick a Trading Platform and Do It Yourself
If you have some knowledge of stocks and shares, then this can be a good way to invest your money. You can pick an online platform to do it and then pick what shares you know are doing well.
If you’re a first timer, this might be riskier. But if you have some knowledge of it, then it can be a quick way to buy and sell.
Lend Money and Charge Interest
If you have some money, then you could lend it out to those you know. Family or friends might need an extra $1000 to tide the help them pay a deposit for a rental home, for example, until they move into a new house.
If you have it, then you could write up a contract with them and charge a little bit of interest. If it is just over what it would have been if it was in a bank, then it can be worth doing.
Investing in the stock market can be pretty tricky if you’re not too sure what you’re doing. It can be volatile too, as recent years have shown only too well. But investing in gold can be something that will hold it’s value in years to come.
It won’t give you upfront cash. But if you’re wanting to save for your retirement, for example, then looking to buy gold coins could work for you. So think about your needs and what you need the cash for to see if it would work for you.
Invest in Education
If you have children, then investing money into their education is always going to be money well spent. It could be that you’re looking to invest your money for college for them or even invest in their education as it is now. It is never too early to start thinking about paying for college.
Pay Off Debt
If you have any debts, then it makes sense to pay them off as soon as you can, rather than use the money to invest in other things. When you pay off debt, it really will free up your cash and mean that you’re not having to make repayments each month to someone else. So if that sounds like you, then look to clear any debt before investing in other things.