Investing money doesn’t have to be a big stressful risk-induced venture. In fact, investing your money is probably one of the smartest things you can do. You are securing your financial future and ensuring that you are covered in case something happens.
Read on to discover the three best ways to invest your hard earned money.
First and foremost, look into the bank. Banks offer different interest rates for the amount of money you invest. Interest can build up annually or monthly and can be simple or compounded. The interest rates can be anywhere from 2 per cent to 5 per cent. Banks are safe, reliable and dependent when it comes to investing your money.
Another place to look for investing options is bonds or certificate of deposits. Banks and private institutions offer bonds and certificates of deposits. The longer you keep your bonds and certificates with the bank, the more money to stand to make on interest. Interest rates are usually around 7 – 9 per cent for four years.
Finally, for the adventurous type, look into stocks for your investing needs. The stock market is a way to invest your money on a company by buying shares in that company. Buy and sell shares according to how the company is doing. The stock market can return 10-12 per cent per year.
Just keep in mind that the stock market is not the safest method, especially when it crashes. It’s really up to you to decide when, where and how you want to invest your extra money.
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