Fuel prices and electricity bills are rising across the world. Many people are looking for additional means to make money due to this. Making smart investments can not only be a great way to preserve your funds – but there is also the potential to maximise your potential return on investment. However, with so many investment opportunities available, how do you know you are choosing the right ones? Look no further as this guide is here to help. Below – are four smart investments that are worthwhile right now.
The property market is booming. Reports have shown that the demand for rental properties is at an all-time high. So, if you have enough money to purchase a property, you could benefit from a fixed income. If you want to get the most out of your rental property, research is essential. House prices will vary dramatically between locations. Take a look online at the current areas that are in high demand by prospective tenants. It can give you peace of mind that you will find a tenant for your property. Purchasing a home in a quieter area might not give you this luxury.
If you regularly read the news, you will be no stranger to cryptocurrency. Digital currencies have attracted a lot of media attention in recent years. Unlike physical money, cryptocurrency cannot be printed. Therefore, it cannot be seized. You also have total control over your investments when storing your digital currency in a cryptocurrency wallet. These wallets are similar to a USB device. A “cold wallet” does not have to be connected to the internet, minimising your risk of theft. The cryptocurrency to watch right now is ETH. You should visit the marketplace Paxful which can help you figure out where to buy ETH in 2022 . All you have to do is register your account, scout for offers, and start trading.
Hi-Yield Savings Accounts
Do you store your money in a savings account? If so, you could be missing out on higher rates of return by choosing the wrong type of account. Ideally, you should invest your funds into a hi-yield savings account. They can pay up to 25 times more than the national average of a standard account. Typically, the higher rates are offered through online accounts, so this is something to bear in mind. When choosing a hi-yield savings account, pay close attention to the interest rate and the minimum balance required. You can find a list of hi-yield savings accounts online.
With the cost of living significantly rising, many are facing uncertain times. Therefore, the idea of investing your money may seem risky. Although there are no investments out there that come with zero risk, silver stocks are noted as a safe haven investment. Silver is not only cheap to invest in, but it is also a tangible asset. Although it can fall victim to market fluctuations, silver is highly unlikely to crash entirely due to its inherent value.
Ella Woodward is an entrepreneur who has built a career as a freelance writer and building a business from her skill with words and understanding of the needs of corporate readers.