If you are in your 20’s and have a source of income, you know how your spending habits result in most of your pay spent away and you end up saving nothing. Well, it’s time you change your habits. Why not use money to make money? No, we are not talking about some double your money in a 25 days scheme nor becoming an overnight rich idea. We suggest looking into the investment field. Why learn to invest? As mentioned earlier, make your money work to make you more money.. Investments that require you to periodically pay them, instill a habit of discipline as well as saving. Now, with so many options available to invest, it’s the best time to start. Register on a website or install an investment app, just take a step forward in the world of investing.
There are so many different types of investments. Let’s take a look at some of them to help you decide where to invest:
This is the most popular form of investment. You must’ve wondered though, what really is it all about? Putting it in simple terms, when you buy a company’s stock, you own a part of that company equivalent to the number of stocks you have. The stock’s price depends on various factors such as the success or failure of the company, demand and supply, current affairs, interest rate and so on . You can buy stocks, wait for their prices to go up and sell them for profit. Another way is buying the stocks and keeping them for a long period of time, companies give dividends to shareholders for owning stocks. It depends on your own investment goal and sentiment. If you are looking for a regular income you can stay invested and earn dividends.
Cryptocurrencies are virtual currencies. The topic of cryptocurrencies and bitcoin has been blowing up recently. After bitcoin saw a major rise in it’s price, many investors turned to cryptocurrencies for investing. There are many cryptocurrencies available in the market now, making it a must-checkout field if you’re interested in investing. You can invest in cryptocurrencies using any money investment app like CoinPayments and others.
- Mutual Funds
Mutual Funds are a better way to invest to diversify your investments. It gathers funds from various investors in a pool and invests them in stocks to yield profit. You can either opt for a SIP (Systematic Investment Plan) or the One Time Payment option. SIPs require periodical payment and mobilizing a habit of disciplined savings, thus making them the best investing options. Mutual Funds yield different results depending on the fund house, asset portfolio, period of investment and nature of the market and its fluctuations.
All of the above mentioned investments can be done easily through your mobile phone through a mobile app. Apps like Scripbox, Groww, CoinPayments and others are available to give you an easy investing experience.
Apart from these, there are options like bonds, annuities, insurances, etc., available for investing. A word of advice, check all your documents related to investments carefully. Invest only after understanding what you are putting your money into.