Investing, is one of many methods individuals can use to grow their money. Though there are risks involved, when set up appropriately and monitored regularly, an investment account can generate hundreds or thousands of dollars. As you know, in order to get started, you need to have some cash. Though there are stocks for cents on the dollar, some of the more popular stocks can set you back a few bucks. If you’re looking to get started, but can’t seem to find the spare cash in your budget, these resources could help jumpstart your investment portfolio.
Your Income Tax Return
Every year you’re required to file your income taxes. If you’re among the fortunate few, you actually get money back from the state or IRS. Instead of using this money on something you won’t have in a few months, why not invest it? If you were to use a tax filing service, you could potentially get even more back on your returns which can do wonders for helping you to purchase your first few stocks. Making this an annual tradition can help to boost your portfolio in no time.
Employment Bonuses
Lots of corporate organizations like to give back to their staff for their hard work. Some, decide to hand out free turkeys or give their staff some time off. Others, prefer to give them an annual cash bonus. If you receive a bonus at the end of the year, don’t go holiday shopping with it, instead, take it, open a broker account and begin investing. The same goes for raises. Whether you receive a $0.50 raise or a $5,000 raise, you should continue living on the amount you had previously and put the increase into a savings account. Once you’ve accumulated enough to start investing, then take the money and put it to good use.
Start an Online Business
It’s always been said that you should never put all of your eggs in one basket, so if you only have one job, perhaps you could start an online business. There are plenty of business opportunities that don’t cost much to start. You can write blogs, take photos and sell them, develop websites, tutor students online, make crafts, and so much more. The money you make from your business can then be added to your investment account.
Sell Some Things
If you don’t have the time to commit to a full-blown business you can still raise money to start investing. This will require you to take a look around your house for things you no longer want or need. If they’re in good condition, you can set them aside to sell at a yard sale. If you don’t want to host a yard sale, or live in an area that doesn’t get much traffic, you can also sell things online. You can take photos and use mobile apps to sell your things to people nearby that are in need. For larger items like cars or more expensive items like old smartphones and computers, you might be better looking for service providers who buy things for cash. Depending on the condition of your devices, they will pay you top dollar for them in cash upfront. This saves you the trouble of having to photograph it, post it, and haggle with online buyers.
Investing is a wise decision for those who wish to be financially stable now and in the future. If you’re curious about investing in stock, but you don’t have any extra cash to contribute to an account right now, don’t be discouraged. There are plenty of ways you can generate a large sum of cash that you can use to open an account and begin selecting stocks that will set you up for life.