The pandemic has come along quickly and unexpectedly, it has killed many thousands of people and devastated the global economy in the same way as a war might. It’s no wonder that so many people are feeling the effects on their jobs and lifestyles. But even if you have been severely affected, there are some positive signs in the rubble.
In many cases, the government has stepped in to support workers who have lost their livelihoods, and since they don’t have work to go to it gives them time to assess the situation and chart a way forward. That way could be investing. Investing in the stock market, in a new small business, in property, or in yourself, and you seek to better your chances in competitive industries. Keep reading to find out more about pandemic investment strategies.
Stock Market Education
The stock market is a trading platform that exists internationally. Every day, pandemic or no pandemic, investors buy and sell shares in companies based on their performance. Other types of trading exist too, such as currency trading, precious metals IRA, and stocks and bonds. Trading on the stock market isn’t difficult, and it can be lucrative: but only if you know what you’re doing.
If you don’t know how to trade on the stock market, then it’s advisable to take some online lessons and read some books. There are many terrific resources online for learning the basics that will help you get started quite soon. If you’re still unsure about it but want to trade you might consider a trading agent. You will have to pay for one, but it can be a good way of safely and profitably learning.
Property Market Investments
One of the safest investments you can make in your life is property. It holds it’s value like few other capital investments. You can also add value to it by renovating and landscaping, which will help you turn a profit when sold. If you go on a variable mortgage, you can also benefit from changes in the interest rate and pay more on the principal loan to pay it off early.
One of the great barriers to property investment, particularly in this difficult financial climate is finding the funds for an initial deposit. Most lenders require at least 10% depending on the type of property. But there are options. Look out for government initiatives or deposit schemes that could help you out, also budget and analyse where you can make savings in your lifestyle to help you save.
Invest in Yourself
One of the safest investments you can make is an investment in yourself. What does this mean? Well, maybe you’ve been furlough or lost income dimensions to the pandemic, it probably opens up some time in your schedule that you could use to learn a supporting skill for your industry or something completely different.
Online it’s very easy to take an affordable course in a subject of interest. You might learn about how to write, how to code, or how to start an online business. The pandemic has been negative in so many ways, but one positive aspect is the opportunities for career advancement through self-investment.
Start a Side Business
A side business tends to be a small second business that allows you to benefit from a second income. This might be a blog with affiliate links and ads, an eCommerce shop, some freelance work, or any small business idea you can do on the side. Quite often, these small business ventures become your full-time work.
And what better time to experience with this than during a global pandemic. The world economy is struggling, and if you’re sitting at home waiting for government support, you could be waiting for some time. Instead, why not assess your options and motivate yourself to invest in a small startup business.
Set a Budget
If you’ve been used to getting a regular wage into your bank account, but it suddenly stops, it can throw everything into disarray. The machinery of your personal economy will stall, and you’ll be forced to think about alternatives. Even if this doesn’t happen, assessing your finances on a regular basis is a worthwhile thing to do and could result in more savings and better investments.
Firstly you want to minimise your account, strip them back to the bare-bones and cancel and needless subscription services – free alternative options can be found. That extra money adds up every month and can be put towards additional debt payments, for instance. Paying off your debt is the first step to investing properly, as it frees you from wasting money and allows you to save.