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Updated by Joanna James on Oct 25, 2020
Headline for 5 ways to invest your money – Start saving and investing today!
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Joanna James Joanna James
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5 ways to invest your money – Start saving and investing today!

Whether you have just a small amount to invest or a large amount to invest, an investment of any sort will never go to waste these days. This is because things have been made a lot easier with technology and the evolutions of humankind. You can always approach and investment company for advice on what to do with the cash you've saved up.

1

The cookie jar approach

Investing is not possible without savings and that's why we need to first focus on saving. If you were never the money saver, well, you can start by putting away a certain amount into an envelope, a separate bank account with no debit card or the traditional till or cookie jar approach. Start with saving small amounts a day. For instance, you can forego that morning barista coffee and start by dropping that cash in the cookie jar. As you get used to this routine, then you can move on to saving larger amounts. It would help if you can try to live for lesser than what you earn.

2

Invest in stocks

Now when speaking of stocks, what comes to mind is large amounts of money that you will need to have before you head on out to a stockbroker. But, today, it isn't so. Sure enough, you will have to visit your stockbroker for advice on how the markets are doing and to find out which market will suit your investment. Still, large amounts aren't necessary, you can always buy a fraction of a share if you are unable to pay the entire amount for one full share in companies like Apple. Also, each time shares are sold, the stockbroker company will charge a commission, however, the amounts charged are quite smaller than it used to be.

3

Investing in real estate

Be it an office space Colombo or a fancy apartment at Cinnamon Life Colombo, an investment in real estate will never go to waste, especially when it is in a highly residential area. This might be a little costly but is totally worth the price as the value of living spaces only tend to increase in the future with global population growth and other factors. Not to mention, the new trend in modern living is a luxury apartment in the city as well, with all the conveniences in just the right place!

4

Enrol in an employer's retirement plan

You can always invest in your future with the help of your employer. This is where you can sign up for a percentage of your salary to be put away in a personal account just for you. You can start by saving small amounts, for instance, 1% of your salary. You won't even feel the deduction, furthermore, tax rates charged are also reduced with the reduction in salary.

5

Savings account

This is the best way to invest your money if you are afraid of uncertainty in the stock market. Prepare another bank account with no debit card and set up a standing order for a small amount each month to get transferred here.

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