Grow Your Money Even If You Don’t Know A Thing About The Stock Market.
June 18, 2018 by ThySista
Filed under Business, Money, Opinion, Weekly Columns
(ThySistas.com) There are certain universal truths when it comes to money. We may have a little, we may have a lot, we may have just about enough to get by and we may have hardly any… But whatever our circumstances, we could always use more. As the cost of living crawls higher and higher (especially when you have kids) yet our wages don’t rise to meet it, people must turn to increasingly clever and industrious ways to make money. From making some money from home in your free time as a side hustle to investing in a range of commodities, virtually anyone can turn their financial situation around with just a little effort, a touch of understanding and a whole lot of passion.
But the world of investment is a scary and forbidding place for many. The stock market is a wily and unpredictable beast and many would rather endure financial hardship than bear the risks of trying
to tame it. Fortunately, there are a great many ways to grow your money even if you don’t know the first thing about the stock market…
Save smarter
Most people today have a savings account, but deciding on which savings account can make the difference between meaningfully growing your money and seeing your balance crep up at a rate that’s so small it’s almost imperceptible. If you’ve been using the same high street savings account for years, it’s likely that your savings haven’t been working as hard for you as they should have. Instead, transfer your savings to an online savings account (here are some of this year’s best). As online providers have far fewer overheads than high street banks they’re able to offer much more competitive interest rates than their high street counterparts.
Take the trauma out of trading
Many people are deterred from the world of trading because it can seem so incomprehensible. Using CFD trading platforms, however, can make it much easier to understand and thus to turn a profit. Contract For Difference trading allows you to trade on the price movement (up or down) of a whole range of financial assets from shares and commodities to currencies. All you need to do is set up an account, choose an asset and bet on whether you anticipate it’s value will rise (going long) or fall (going short). It really is that simple and can become very profitable very quickly.
Turn your talent into cash
In the digital age, ordinary people have more outlets than ever in which to turn their talents into monetizable commodities. Not only can this make you money, it can also enable you to use your free time more productively and rewardingly than sitting around watching TV or scrolling through your social media feed. In the age of the side hustle, there’s good money to be made by selling workout routines and diet plans for people who want to get in shape for summer, selling your artwork on platforms like Etsy or even starting up your own online store. Just remember that it can be hard these days to effectively capture people’s attention. Custom, eye-catching branding or packaging (if you are starting a product-selling business) sourced from a company such as Impacked Packaging is, however, a good place to start.
With a little tenacity and determination, any of the above can become guaranteed money spinners.
Staff Writer; Paula Brown
