It’s always worth exploring different opportunities to make yourself some extra money. Whether it’s getting a second job, selling some of your unwanted belongings, or investing. The latter is a great idea, especially for those who are looking to make money in future or simply want a sustainable, long-term plan for making money. If you’re wondering what you could invest in to help your future or someone else’s, here are five things worth investing in.
- Property
One of the best, most sensible investments you can make is in a property. Whether you purchase a house to live in yourself or to rent out to others, it’s a good place to put your money, and you will have a high chance of making a profit. Many new build homes are being constructed all over the UK, and some developers are offering help to buy schemes if you’re worried about the upfront cost of a deposit. If you do decide to rent your property to someone else, make sure you understand your responsibilities as a landlord and carry out all the necessary modifications to the property for health and safety.
- Crowdfunding Projects
This is a great way to help a group or individual with a great business idea to get off the ground, and you could see a return on your investment, too. Many people are turning to others to help them get their businesses or projects off the ground across all industries, so finding something your passionate about too shouldn’t be hard. Often there are incentives to support these independent companies, including a cut of the profits, merchandise, and other cool stuff as a thank you for helping them.
- Long-term Bonds
For a more traditional kind of investment, a long-term bond could be a good idea. Although they come with certain, generally bonds are a more stable investment than stocks or shares in big companies. This is because if anything were to happen to the company, the individuals with the bonds (creditors) would be put before shareholders when it comes to any pay-outs. Even if they don’t get everything back if a company goes bust, they will at least get something. Bonds also tend to have higher interest rates than other kinds of investments or savings schemes.
- Pension
You will be automatically enrolled into a pension scheme by your employer once you start a new job, but you can choose to opt-out of it if you want to. However, while some prefer to opt-out of a pension, it’s worth staying in as this is a great way to help you save for your retirement. You won’t be able to access your pension until then, but after years of you and your employer making contributions, that stack of cash will help to make your golden years more comfortable.
- Land
Similar to buying a property, purchasing some land is a good investment opportunity, too. You can use it to build a home on if you wanted to, for agriculture, or rent it out for events or farming purposes and make money from it that way. If you are going to use it for growing crops or rearing livestock, make sure you’ve checked the quality of the soil before you purchase it.
There are plenty of other things you can put your money into, but the points above are safe investments for your future.