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Gone are the days of checking your account balance in a panic if you already have saved more than a $1000s in your account and congratulations to you because you are walking the right path.
But you cannot let the balance sit in your bank account for ages which will earn you a mere interest amount. You should use the money for something which will give you a good earning in return.
So, here are a few ideas as to what you can do with that money to take your finances to the next level.
- Take money out of your checking account –
There are a lot of online banks which let you earn extra cashback every time you make a purchase from their credit card this is offered by those banks for spreading their goodwill and business. So,why not take advantange of that? Do yourself a favour, pull out some money from the checking account and if you do not have yet,create an account in any of those online banks and derive the profits. If you are getting extra cash for whatever you buy which you were going to buy anyway with or without cashback then why hesitate to take that? You can get started by enrolling your e-mail id with the online bank and link your bank account to that online credit card providing bank to see how much extra you earn from those staying totally safe.
- Leave upto a Million for your family after you –
You can leave your family upto a million in life insurance even though you do not have the money to set up trust funds for your loved ones or if you probably think that you don’t even have the time for that. It takes a mere couple of minutes and you are good to go. There are a number of renouned companies available both online and offline where you need to pay as little as $16 a month. It would take you ,as mentioned above, very few minutes to get a free quote and see how much life insurance you can leave behind to your ones.
- Make investments in Real Estates –
Yes, it is a myth that only wealthy people can afford to invest in Real Estate. It is turly a scary platform as the stock prices shoot up an down very fast and no one knows when the whole thing will crash. Yoy do not need to put all of your savings into the Real Estate as there is always a hidden fear of loosing everything. Yoou can start from as less as $500. All you need to do is make some research beforehand and invest your money with some reputed companies.
Real Estates can earn you more than Stock market . In the long run, investing in stock market will only earn you about 7% of average annual return but for Real Estates, they can earn you upto an average of 17% to 18% annual return.
- Spend few dollars to own a piece of big companies –
Owning a share of a big company if you work for a living and do not have millions of dollars may sound lame and out of reach but you can totally afford it if you know where to go. A lot of people now a days are using special apps which allows them to be a part of something big which is generally exclusive only to riches. Through this apps,you can own shares of well known companies like Apple,Google,Amazon and so on for as little as $1 but investing $5-$10 dollars won’t be a problem for you.
The best part is that many of these companies even send you check quaterly for your share of the profits which are called dividends.
Well, these were some of the few moves you can make if you are willing to make money and don’t want the value of your money detoriate with time as it sits in your account but if you are a safe player and like the traditional way of earning from interest then its all right . Just be sure to make proper research before opting for any of the above mentioned ways and you are good to go.