It’s always a sore subject, trying to save money. We either don’t have the time, resources, or even the right amount of cash to put aside. The task of squirreling away a few notes for an event or a break that is a long way away into the future lulls you into a false sense of security. But the time comes round soon enough, and you have to go to the bank of mom and dad (even if you’re in your 40s) for a bit more money. But even though you’re working full-time, is there any way to get some extra money on the side without resorting to being a delivery driver? The answer is, of course! UK investing is a tricky subject for the uninitiated, but it’s all about finding the right type of asset for you and what you feel comfortable in. There are many ways to invest money, but sometimes it takes more of a larger sum of money up front for you to get any sense of getting back what you put in. There are some things that may not have cropped up on your radar, so here’s a brief overview of alternative money sources.
A digital currency (or cryptocurrency) that is primarily used for online transactions, it has become widely popular in recent years, and even online stores are accepting it instead of currency. This is why it is probably so easy to buy bitcoin now. The way to earn the currency is by bitcoin “mining” where you give up your hardware to log payments onto the Bitcoin ledger (known as the Blockchain). This is a lucrative measure if you have a very speedy computer that you are willing to use to log the payments, but if not, then buying the equipment can be a big cost upfront. There are constant developments in the cryptocurrency market, such as the rise of Bitcoin competitors like ADA from Cardano, so if you are looking to invest, make sure you know how to choose the best options for you.
As with any investment, gold is seen as a delicate stock because the shares can rise and fall, but it doesn’t tend to align itself with other assets like property. And with the delicate nature of the stock, it is best to invest in a stock app, such as forex trading so you can keep an eye on the value in real time. There are many ways to invest in gold, ETFs, unit trusts, or you can buy gold bullion or coins.
The final option might be a bit of surprise, but for those that aren’t willing to get on the investment ladder, a freelance job on the side is a lucrative approach. Depending on the job, you can work it around your normal 9 to 5. Transcribers can earn a good salary by preparing court documents or transcribing meetings, hearings, or market research. It is a very viable option, as more and more people are taking the freelance plunge because it offers them freedom. And if you are looking for a way to earn additional finances around what you normally do, there are many ways for you to do this.
It’s very difficult to get enough money to keep afloat in this difficult financial landscape, and while you can choose to invest, you can also choose to work more. We are all different, and time is a big factor, so choose wisely in what you can and can’t take on.