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Three ways to invest your cash

Three ways to invest your cash

If you have some spare dollars floating around your bank account, have you ever wondered how you might be able to invest them?

If you have some spare dollars floating around your bank account, have you ever wondered how you might be able to invest them? For some, keeping money in the bank is the safest option, but it may not give you the best return. So, how about spreading the net? If you love traveling, then why not invest your funds in a property abroad, for example? That’s just one way. Here are some ideas to get your financial muscles flexing.

Overseas property

On that point of investing in property overseas, it could be a good option for you if you have a fairly large sum of cash available. Do you have a favorite vacation destination? Then instead of booking a hotel or apartment each time, potentially spending hundreds of dollars each night, then why not buy your own accommodation? Come up with a shortlist of places and then have a good look at what’s available on the market. Talk to locals, get some expert advice and see if you can land yourself a bargain.

Of course, there’s no guarantee that your property overseas will make you money in terms of its value, but it may do. Another way to generate income from it is to rent it out to family and friends for vacations, maybe a week or two at a time. You could even advertise it more widely on accommodation websites and apps.

Another option is investing in commercial real estate. Check out the Rich Uncles dividend for some inspiration on what’s available.

Invest in a business

Another way to put those spare dollars to use is by investing them in a company or starting a venture of your own. Is there a niche in the market that you’ve spotted that is ripe for development? Is there a company out there that you admire and can spot the potential? There’s a huge range of investing opportunities in this area of the financial world, but don’t jump in without thinking carefully first. You need to do your homework. Talk to those in the know, financial and business advisors, to see if your money is likely to work for you. It can be a gamble.

You also need to know when to draw the line. If a company you’re running or have invested in starts to hit bad times, then you must be realistic about its future. You shouldn’t keep piling dollars into something that is ultimately going to collapse.

Stocks and shares

Directly investing in a company, or setting up your own, is one thing. But you could also buy into some stocks and shares on a more general level. The market is becoming much easier to navigate these days with lots of online tools to help you, alongside traditional financial advisors. If you’re confident with investing your cash in this way, you could find that you get a good return over time. But, again, like most investments, nothing is ever guaranteed – and the value of your investments could well fall.

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