Photo source
Add to Flipboard Magazine.
It’s down to you to decide if you think money makes the world go round- but there’s no denying that having enough of it certainly helps. Having cash in the bank can make life a whole lot easier, and when we spend a huge portion of our lives either studying for a job to earn money or working up the career ladder, it’s no wonder we see it as being so important. Maybe you’ve recently come into some money, whether that’s through a work bonus, an inheritance or even a win. Or perhaps you’ve been saving for a while and wondering the best way to put your cash to use? Either way, here are a few things you could consider!
Property
Property is always a good investment. Buying a home for yourself will give you stability and financial security. Or if you already own a home, you could purchase another to rent out earn additional monthly income. Buying a property abroad in a popular tourist area can be very lucrative, plus you can use and enjoy it a couple of weeks out of the year yourself. Even if you can’t buy a property outright, if you use it to put down the deposit you can pay the mortgage each month with the rent you collect from tenants. Eventually, it’s paid off and you can either sell or continue renting it.
A Boat
Boats generally hold their value well and so can be a good investment. If you’re looking to take up a new hobby, spend more time with friends and family or just get outside more, getting out onto the water on a boat is a fantastic option. It could be anything from a fast catamaran like http://www.nautisnp.com/passenger/fast-cats to a narrowboat or barge if you’re not near the coast. Again it’s something you could hire out when it’s not in use to earn you a bit of extra income too.
A Car
Since cars don’t hold their value well, they’re not the best form of investment. However, if you’ve always wanted a new car or a certain type and you come into some money, there are certainly worse things you could spend on. It could be the perfect opportunity to own the car you’ve always wanted. A new car WILL depreciate in value, and so you will technically ‘lose money’ on it, but if you’re not planning on selling and want to use it for the foreseeable future why not treat yourself while you have the opportunity.
Business
Investing in, or buying a business can be a wise use of your money. Perhaps you’ve wanted to take the leap from employee to business owner for a while, having some cash in the bank to set things up could allow you to do this. Alternatively, if you’re already happy in your career, you could buy a business and hire others to run it. Burger vans, for example, require the investment up front to buy the van and stock. But can make a significant amount of money- after paying one or two people wages to run and manage it the profits are yours. Easy money that goes into the bank each week that you don’t even have to have much to do with.
Recent Comments