Investing is something we think of in lucrative terms; people who have the capital behind them are the ones who make it big on the stock market, or the housing market or on the block chain, and there’s not much else us little guys can do.
However, even when you’ve only got a limited amount of cash to put to good use, you can invest and make a good return. From anything between $100 to $500, you can make some good choices, and see your money soar in a couple years time. And because of this, we’ve put together a little guide below, for anyone who wants to invest even when they’re on a bit of a budget.
The pandemic has been the catalyst for a renaissance in investing. Retail investors have flocked towards all kinds of investments platforms, many of them charging no commission and minimal initial capital.
Start with a Mutual Fund
A mutual fund is very much its namesake; it takes money from many, many investors and then pools all of that capital together to invest in one thing or another. It’s a great way to get a leg up in the investment world if you’re working on a budget, as it provides access to an professional level investment portfolio without needing to have great amounts of cash to get there.
However, be careful about which mutual fund you decide to use, as they each charge annual fees for use. Make sure the price of these aren’t too expensive, and that no hidden or sneaky commission costs are collected on top.
Use an Investment Platform
An investment platform mostly does the hard work for you, as it’s an all-in-one portal to the world of investment. And usually, no matter what money you’ve got to spend here, as long as you’ve got a spare $1, you can put your cash into a company or an asset that could double that (at least!) in a few months time.
Accordingly, if you would like to learn more about how trading platforms such as eToro can help you to manage your investments, you can find a wide range of useful resources including an explanation of the etoro minimalny depozyt (minimal deposit on eToro) over on the Monitor Fx website.
You can choose where your money goes, in terms of what kind of companies/assets you want to support, without having to do any of the work yourself. And that’s the main selling point, but still, choosing the right investment platform is key here. Check out reviews of all of the most well known platforms; you can start with these DiversyFund reviews, and then move onto comparing platform features once you know what you’re looking for.
Start Saving
The more money you can put aside, the better any future investments will be. Indeed, in general the more money you have behind behind you the more secure you’re going to feel, but if you’re someone who doesn’t have a lot to spare right now, this is where your focus should be.
And in using a proper savings plan, such as putting 50% of your money towards bills, and then splitting the other 50% up to put towards a retirement fund, an emergency fund, and then an investment fund, you’ll reach a small investment goal in no time.
Investing can be done even when you don’t have much money. Follow tips like those above to make the most of it.