- Personal Finance
How To Grow Your Money Quickly
Financial Security Is Important
Why would you be interested in growing your money as quickly as possible? Well, besides the fact that everyone loves money, it is important that your provide financial security for you and your family. Not having enough money can lead to problems with debt and having to take desperate actions in the future. However, there are ways to grow your money to avoid financial instability.
Investment Strategies To Consider
Growing money quickly means that you might take a little risk with your investments. If you are willing to take some risk, there are some investments that you might be interested in taking on to get money faster.
Invest In Companies That Are Growing
A good strategy is to consider investing in a company that is offering an IPO. Companies like Google are worth over 600 dollars a share, but can be had for much less if you are well connected. For most people, it might be wise to take a chance on your brother's invention, or that side business your mom runs. Social lending sites such as Prosper offer you the chance to invest in smaller companies. You can also do what I did and become an affiliate.
If you can get an initial loan, it is worth taking a look at flipping homes. What happens is you buy a home that needs fixing, or is below market value. You then take that home, make the improvements and sell quickly at a profit. Foreclosed homes make good investments. If you cannot sell, they might make good rentals.
Gold And Silver
Precious metals gain value relatively quickly. While it is safer to buy gold and then hold it, you might be able to take advantage of a weak dollar and sell gold while the prices rise.
Grow Your Income
An alternate solution is to consider ways to increase your income. Taking a second job, or asking for a raise at work might be options to consider. These quick cash infusions can then be used for investing in the stock market.
Second Job Options
Getting a second job doesn't mean working nights stocking shelves at Wal-Mart. Consider working from home, or tutoring kids at the local high school. It can bring in good money and not take up a ton of your time.
Can You Get A Raise?
Sure. It might not be in the form of more money, but it could be just as beneficial. See if you can get stock options, or perhaps more vacation. Less time spent at work could mean more time spent on a side business, or more time spent on that novel you want to sell for big bucks.