What can you do?
In order to make money, you also need money to make one. But you don’t have to invest a lot of money to make more money. You just need a few dollars and some cunning to earn a lot.
Below are some of the ways that you can earn money from the little that you have.
Invest in stocks
It can be really frightening but to those who love to take risks, the rewards of the stock market to can skyrocket when you get lucky. Even a small amounts of money can yield more than you can imagine if you play the market right.
There are actually stocks that are valued in less than a cent. This, you can buy in bulk and see if they go up. When they do, sell the stocks and then buy again. This method of buying and selling can give you a lot of earnings but it can also make you lose a lot.
If you, however, have a few thousands kept, you can always buy blue chips that you can keep in the long run. Blue chip stocks refer to the stocks of big companies that are valued high. These stocks do not often go down in value.
Invest in mutual funds
Another way to make more is to invest in mutual funds. Mutual fund managers pool together the money of a lot of people and then invest them in properties, in the stock market, in government bonds and in other high-yielding investments.
Because the money pooled together is high, one can expect to also get a higher yield compared to when you are investing just for yourself.
It is important though that you study and carefully select the mutual fund company where you will be investing your money in. Make sure that they are credible and have good track records.
Put up a small business
When you have excess money, nothing can yield a higher reward than your own business. Use some of your savings to finance the business. Who knows, your business may become successful! You don’t have to start really big. In fact, you can even start off your operations inside your home. Start small and then little by little expand. You will just notice that one day you have a thriving business.
You can start with buying and then selling or perhaps start producing small stuffs that you can easily sell to other people. Think of something that you can design or produce; then sell them off to others. It is good to think of a business that is based on your interests. Consider art or crafts if you are fond of these pastimes.
Although the yield in time deposits is not so high compared to other forms of investments, the risk is small. This is ideal for people who cannot afford to lose their money in various investments. Time deposits are similar to bank accounts except that the initial deposit that they require is larger and you cannot touch your money for a specific period of time.
Some time deposits can last for as short as a month while others can continue for more than 3 years. The longer the period of the time deposit, the higher should the interest be.