Interesting how even small efforts can make a big change. Well, it all starts small and that’s the thought you should start your saving and investment journey with. You shouldn’t wait for a fancy job or a hefty pay check to start saving, you can start with what you have and see it grow to something bigger in the future. All you need is the will to save and you are halfway there.
The best part is investing in modern times is simpler than ever. It takes no more effort than a swipe of the phone to keep and invest your monthly savings aside. Start with anything and you will be tempted into saving more as you will see your money growing right in front of your eyes. For more information visit Bitqs UK.
Here we have shared seven ways in which you can begin your investment journey:
Start at home
The first step to investing is saving money and if you are not in the habit of the same, it will take some time to get you there. So, for that before going to the bank start at home. Just begin with keeping aside some portion of your earning every week and that way you will have something valuable to save by the end of the month.
The good part is it will also help you stop unnecessary expenses by keeping you motivated to save. So, not just you will have saved something concrete by the end of the month but your expenses will also be cut down to some levels. Later, you can put all that money in some small investment scheme only to reap its benefits later in the future.
Take the assistance of a Robo Investment advisor
Robo Investment advisors are a miracle of the investment industry and their work and they really make your investment journey easier and more interesting. It starts with a simple consultation where they determine your risk tolerance, your return expectations, your savings potential, your investment tenure, and according to that they decide where to put your money.
The best part is based on these calculations they design a custom investment plan for each client and put their money in a well-diversified portfolio made up of a combination of some small, long, and medium-term plans with high and low-interest rates.
Gold is your knight in shining armor
An investment in gold will never disappoint you and that’s just a fact. Even during the global pandemic when the entire economy came crashing down. Gold prices were still rising. It’s interesting that this precious metal is always growing in its value. So, keeping all your doubts aside you can invest your hard-earned money in gold and just see it grow.
The good part is with gold also you can start with any number you want. To begin with, you can keep your month’s savings aside and invest in a 1gm gold coin. It is always better to invest in gold coin or biscuit rather than the ornaments because then you will be paying a heft making a charge and later its resale value will also be a little lesser.
Go big, go with the real estate market
Well, not literally! Yes, you won’t need to invest your life’s savings in order to fulfill your dream of investing in real estate because Modern times has modern solutions to a problem. To counter the problem of high real estate prices, there is a policy called real estate crowdfunding where you can commit to invest a certain sum of money and in return, you will get to own a fraction of some commercial property.
This is more like a group where people with a small investment will come together and put their money in a real estate project. And as we have witnessed always, real estate is also one of the best-performing industries, and investment in the same will always surprise you in the future.
Mutual funds, the newcomer’s saviors
Mutual funds are almost the perfect way to start your investment journey. There are a variety of mutual funds available in the market and according to your needs and requirements, you can choose the one. They allow you to invest in different kinds of stocks and bonds without being actively involved in the same or taking any conscious decision about the same. You just pick a mutual fund of your choice and they will do the same for you.
You can start with any amount of your choice and with the automatic investment feature the money will automatically deduct from your account. It’s a good way to invest without putting much effort into the process and the results are also quite lucrative.