If you’ve got some money spare each month, or you’ve come into some from a windfall, you might be wondering what to do with that extra cash. Yes, you could simply spend it or go on some lavish holidays. But, it always makes sense to invest spare money and make it grow. With that in mind, you probably know about the typical investment ideas for money like property, buying shares in a business, or putting it all in a long-term savings account. But, did you know many unusual investment ideas work just as well? Check out these examples:
1. Peer-To-Peer Lending
There’s no denying that the financial landscape is changing every day, and fewer people are using mainstream banking services each day. One such example is lending; more people are seeking alternative lending sources like peer-to-peer lending.
You could invest some of your money into peer-to-peer lending and help partly fund many loans to minimise your risk. It’s an excellent way of growing your money for minimal effort, and you get to help people with their daily lives in all kinds of exciting ways.
2. Buy Old Photographs
Many people have hobbies like stamp collecting. Some collect stamps that are rare and of a particular vintage because their value increases over time. Most people know that fact, but did you know the same also applies to old photographs?
You could invest some or all of your spare cash into buying vintage photographs and keeping hold of them until their value soars. At that point, you can consider selling them to a person or business that offers the best price for them.
3. Buy Shares in Songs
Musicians usually receive royalties on their works whenever someone buys their music or broadcasts it in a public setting. However, some artists decide to sell the rights to their songs for a cash lump sum.
You may not know it, but it’s possible to buy shares in such songs and receive part of the royalties to them each year. Many investment groups often purchase the rights to music, and those groups get made up of many individual investors like you.
4. Buy Some Wine
You’re probably used to drinking wine, either on special occasions or socially with loved ones and friends. Wine is undeniably a popular alcoholic beverage enjoyed by millions of people globally each year.
Have you considered taking things a step further by investing in some fine wine? As you may know, some wines are very expensive, and ones of a particular vintage can even fetch tens of thousands of pounds.
Consider buying some vintage wine and keep it locked away in a safe and secure cellar. You can then sell them when they reach a specific value.
5. Cryptocurrency
Lastly, if you’re looking for an unusual but medium to high-risk investment idea, how about cryptocurrency? You could invest in existing cryptocurrencies like Bitcoin, or you could be an early adopter of new ones like Pi.
Just remember to do plenty of market research before selecting a particular cryptocurrency for your investment.
