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Investing your money is by far the best way to secure your finances, but a lot of people don’t do it because they don’t think that they have enough money in the first place. If you want to invest in real estate, for example, you need enough for a down payment on a house and most people don’t have that sitting around in their bank account. However, not all investments require that much money upfront and there are plenty of lucrative opportunities that you can get involved in with as little as $100. If you’re looking to invest some money but you don’t have that much saved up, these are the best ways to start investing with just $100.
Peer to peer lending has changed the way that people borrow money by cutting the banks out of the equation. There are plenty of great online platforms where people can borrow money directly from somebody else. A lot of peer to peer lending platforms have a minimum deposit of $1000 but you may still be able to find some that let you deposit smaller amounts (https://www.prosper.com is one of the best ones). You can get a fairly good interest rate on these loans and the borrower will be vetted first to make sure that they can make the repayments comfortably.
Cryptocurrency is one of the most popular investment options out there at the moment and you can start with whatever amount you like. Obviously, if you invest $1, you’re not going to make that much money out of it. But if you put your $100 in and then start reinvesting the profits that you make, you can quickly build up a good profit. Just be aware that investing in cryptocurrency can be risky and there are a lot of scam trading sites out there that will just take your money. If you’re going to do it, it’s best to look at sites like https://bitcoin-code.org/ that have good information about the best trading platforms to use. As long as you do your research first, you can avoid getting scammed and losing your money.
When you’re investing in bonds and shares, mutual funds are one of the safest ways to do it. The problem is, most mutual funds have a minimum initial investment that is going to be quite a lot higher than $100. However, there are some trading platforms out there, like Ally, that don’t have a minimum at all. That means you can get started with $100 or even less if you like, and then start reinvesting your profits to build it up over time.
This isn’t a direct investment, but if you’re looking to secure your financial future and free up more money for investing, this is the best thing that you can do. As long as you have debt, you’re flushing money down the toilet every month in the form of interest payments. If you have a spare $100, it’s worth considering paying a chunk off your debts so you can clear them faster. Once those debts are gone, you’ll have a lot more money to put into savings and investments.
You don’t need to have thousands in a savings account to start investing your money, these are all great ways to do it with just $100.
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