With the interest rates being so poor this year, you should not let your money sit in the bank. It is time to invest it and here are five ways you can do that.
Stocks
The stock market is at one of its lowest points due to covid affecting businesses so investing your money into these can be great over a long time. Just make sure you do enough research before you invest as you can also lose money as well.
You can also pay the experts so they can manage your money and profits better than you. Obviously, the more you pay for them, the more you
Real estate
Now is definitely the time to invest all that useless cash into real estate and here are a couple of reasons why. Real estate was on the up in 2019 and early 2020 until covid and lockdown restrictions took it back down again. Now, with some real estate buildings being so cheap, this is the time to purchase to get them back up.
There could not be a more perfect time to invest until real estate but make sure you get a schedules of condition before you agree on everything. This is to make sure both landlord and tenant agree on the current state of the property to make sure there are no tensions during rent the property out.
Invest in you
There is nothing that we can spend our money on other than clothes and food at the moment. Well, you are wrong, spend your money on online courses that will take you to the top. There are plenty of online courses out there and now is a great time to study for them because you have so much free time.
Another thing, if you want a change of career or you think covid is going to have a massive effect on your career then make the changes. Get the qualifications you need for that and invest it heavily into those courses.
A second income
So your office closed for three months and you had no income coming in other than your furlough money. Well, you know that extra cash that was recommended to spend on online courses? Well, learn something different so you can get another income whilst you are sitting at home.
Pay off your debts
If you have any, then get paying them off. It is important to pay these off whilst you can because you are not spending it else were so close that debt off whilst you can.
This could be anything, either you owe one of your friend’s money or your credit card needs to be paid off. Either way, get spending that money now on people you owe, and then you can invest properly.
To conclude
Five easy ways to spend that cash that is just sitting there at the moment doing nothing. Look into ways for saving money as well. Such as business rates appeal for your business. You never know, your business rates could be higher than what they should be. Read up on your car insurance or your Sky bill. Now is the time to find out whether or not you can reduce those bills massively.
