Have you reached the stage in life where you’re no longer living paycheck to paycheck? When you actually start having money left in the bank at the end of each month, it’s a great feeling, although it can wondering what the best way to put it to use is. If you want to spend your money on something really worthwhile and maybe even turn a little money into a lot- here are a few smart investments to consider.
The great thing about business is you can be as involved as you like. You can either turn it into your full-time job, or you could hire staff to run everything and simple oversee things from the top (and rake in the profits of course). You might think you need an incredible idea to run a successful business, but it could be as simple as purchasing a professional printer and creating your own cards and prints, or buying wholesale steel pails and selling them for a profit! The great thing about business these days is that everything is online, so whatever you’re selling you’re sure to find a market for it. Alternatively, you could buy a franchise or existing business, that way all of the hard work has pretty much already been done for you.
Property is almost always a smart investment. Whether it’s a home for yourself to live in, or additional properties to rent out, you’re sure to make some good income. Since property generally increases in value each year, it’s a wise move for both now and in the future. You could purchase an apartment or house either in the country where you live, or abroad as a holiday
Cars are rarely good investments since they don’t hold their value, although buying a new or nearly new car for your own personal use can be a good use of money. You’ll find it’s probably cheaper on insurance due to all of the safety features, it’s easy to drive, and you’ll spend less on repairs compared with used cars. However, if you want to make a little money on the side, buying a campervan, RV or boat are good choices. When you’re not using them you can hire them out to others. There are lots of companies you can sign up to which sort out all of the details and is an easy way to earn some extra cash over the year.
The fact of the matter is, many of us put ourselves at the bottom of the list when it comes to priorities. However, investing in yourself can massively improve your life, shape the future and completely change the way you feel. You might be responsible for looking after children or family members, or find yourself prioritizing your friends or partners happiness. Being selfless is good, but you can’t pour from an empty cup. Take care of yourself first, and you put yourself in the best position to look after others. It could be investing in driving lessons and a car, so you can become more independent and not have to rely on public transport. It could be paying for a gym membership, or buying yourself healthy groceries each week to lose excess weight or look after your body. It could be taking a course or going back to school. Investing in yourself is a smart way to spend your money.