I've always believed one of the best ways to save is to make better use of stagnant funds so that we could get a little more money for expenses. However, it's not easy to find the right opportunities to invest in especially if you only have a small amount of funds. That said, I'm sure there is still some way to make use of a little extra cash and turn it into something that generates even just a small amount of revenue in return. Where do you guys invest your savings, particularly ones that can be started off with a small amount?
You could invest the cash in a peer-to-peer lending services. Yep, you won't make get rich and there are some huge risks involved but at least you'll be earning a little more than [the interest] your cash would earn if it sat around in your savings account. There are a few such services on the net. You could take a look around, find out how much you should expect to make should you invest your money and then maybe . . . dive in.
I invest my savings on life insurance and mutual fund. I'd like to dabble in stocks and foreign exchange some time in the future but I think I'd have wait a few more years until I'm financially stable. For now, though, it's enough that I have a life insurance with me. I chose a program that will allow me to pay the same premium even as the coverage expands upon marriage and after my family grows. I also get to invest a portion of it on mutual fund. In eight years' time, my policy will mature and I'll be able to get back the amount I invested plus dividends and use it as I see fit.
I invest on mutual fund. Our government has a mutual fund arm, and they automatically deduct a portion from my salary for my contributions. When I retire, I will be able to get it back. I can also use my contributions as loans. It's a really good investment.
I have a bit of a gambling streak in me, so I used to dabble in HYIP sites, and it's not the best place to look if you're not a risk taker, because some sites pay at times, but eventually it will stop paying, so you better play your cards right so that you won't lose money. I did earn some money over there, but the losses are more, with my biggest risk which is $50 that never got back to me. To know the trend in HYIP you really need experience so that you won't get burned next time.
I really don't invest my money, neither on mutual funds nor any business. I just let my money accumulate on my bank account and save some of them for the future, but I guess I really should consider investing.
A lot of people would suggest binary options as a way of making some extra cash but, like anything based on stocks and currencies, there's always an element of risk. The safest bet would be a high interest savings account but this would take some time to show any real yield. I'm not sure there's any such thing as a "fast buck" these days.
