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4 Savvy Ways To Invest Your Leftover Cash

March 3rd, 2021 Posted in Investment, Money Tips
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One of the best ways to build wealth is to reinvest your leftover cash. So, if you find that you regularly have a rather sizeable sum left in your account when your next pay cheque lands, then you ought to start doing something with it and investing your money in profitable, sensible ways.

4 Savvy Ways To Invest Your Leftover Cash - piggy bank image
Image by 3D Animation Production Company from Pixabay

1. Investing In Classic Shirts

The market for classic sports shirts and vintage kits has boomed recently, with millennials and Gen Z desperate to don the names of their heroes and idols from the 80s, 90s and early 2000s on their backs. Sites like Classic Football Shirts charge high prices for rare or vintage football kits, so if you have a little extra cash lying around why not see if you can find some popular jerseys for cheap either online on sites like eBay or in your local charity shops. Alternatively, you might decide to look to the future rather than make a quick buck and purchase a couple of popular sports shirts from today that could grow in value in the future.  

2. Buying Cryptocurrency 

The recent rise of cryptocurrency has seen the price of the like of Bitcoin, and newcomer Dogecoin, skyrocket. Don’t miss out by buying Dogecoin, Bitcoin or another cryptocurrency today, as you could be sitting on an absolute goldmine in years to come. There is plenty of risk attached to this strategy though; there is no guarantee these stocks will rise. That said, if you have the spare cash to invest, then you should be able to take the gamble and hopefully come out better off.

3. Put It Into Your Pension

Fancy retiring early? Then this could be your route to achieving just that. Upping your pension contributions is the ideal, tax-free way to save away your leftover cash and truly begin investing in your future. Your pension pot will only grow bigger with inflation, and the taxman can’t touch it, so this is a surefire, foolproof way to store your money away and seeing it grow with little effort. Result!

4. Get On The Property Ladder

Finally, the most expensive of ways to savvily invest your extra cash is to put it towards a deposit for a house. Getting on the property ladder is tough but investing in real estate is one of the most secure and potentially lucrative investments you can make. There aren’t many quick wins in investing in property unless you get particularly good at buying and flipping homes thanks to quick renovation jobs, so you might have to be a bit more patient to see a return on this investment. Nevertheless, putting your money into property could quite easily earn you a pretty penny, and it is an excellent way to invest your leftover cash. 

Ultimately, there are plenty more ways to invest your money that we haven’t covered. However, these four tips are some of the savviest ways you can use up leftover cash to make a profit. Whether it’s something as cheap as picking up a classic football shirt, or something much pricier like buying a house, investing your money in any way is better than just letting it sit there. 

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Realistic Ways To Build Wealth

February 26th, 2021 Posted in Investment, Money Tips
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Many of us want to be rich but we have rather unrealistic ideas about how to attain that. We might purchase lottery tickets every week in the hope that our numbers might finally come up, or we might use betting sites in the hope that we might win a big cash prize.

Now, there’s nothing to say we won’t become rich using these methods, but the chances are rather slim. Thankfully, there are other, more realistic ways to build wealth, and these include the following. 

Realistic Ways To Build Wealth - money making ideas image

#1: Invest (with a diversified portfolio)

Have you started investing yet? it might be that you haven’t. People are generally put off the idea because they don’t know where to start. They also fear losing money in market downturns, and are worried about receiving bad investment advice. To be honest, we can understand these concerns. However, investing is one way to build wealth, so for those wanting to improve their financial future, it should be considered. 

There are many ways to invest, of course. You could trade in stocks and shares, invest in real estate, or build wealth using a crypto trading website. It doesn’t have to be one type of investment over another, because the general consensus is that you should diversify your investments if you can. This way, you have a greater chance of earning big money, as even if the market takes a downturn for one type of investment, you might still see an upswing in another. 

To get started (if you haven’t already), check this investing guide for beginners. Then look online for more information, as the more knowledgeable you are, the greater your chances of success.

#2: Boost your income with a side-hustle

The more money you can bring home each month, the better, right? You will then have more to put away in a savings account, and you will build your wealth from your extra income and the accumulated interest. So, consider the types of side-hustle that suit you, and do whatever is necessary to get started. 

What kind of side-hustle could you begin? Well, as we have already established, investing could be your side-hustle. You could also start an online business, sell items for a profit on eBay and other eCommerce sites, rent out a room in your home, or do one of a million other things, as there are loads of ideas online. We discussed one passive income business idea here. Do whatever will excite you, as the more happiness you gain from your side-hustle, the more likely you are to stick with it. 

#3: Move into a better-paid career

If you can’t quite make ends meet (or put savings away) because of your current career path, it might be that a move into another career could be right for you. Admittedly, you might have to start on the bottom of the career ladder again, so you might not earn the big bucks right away. And you might have to go back to school too, be that online or offline to pick up a few new qualifications. But the rewards will be worth it because if you do choose a career path that gives you the opportunity to build wealth, you will be putting yourself on firmer financial footing. 

Here are some of the highest-paying jobs in the UK.

Finally

So, buy a lottery card if you want to. And make the occasional bet if you can afford to do so. But to make your dreams of building wealth come true, try more realistic avenues. We have suggested just a few options but continue your research online and around this website to learn more. 

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