Creative paycheques: DIY investments

by Ameya Padhye

What this article talks about

Having some extra money is an excellent opportunity to invest it into some venture that is capable of generating some amount of profit for you. Getting into the investing game can be difficult because of the varied investment options and the constant fluctuations in the rate of interest on the returns that you get on your investment. This article will help you understand the concept of investing your money best and help you asses the various investment opportunities that you come across.

 

Who is this for

Managing and organizing your expenses by yourself is slowly becoming a trend all over the world. It’s best if you trust only yourself with your money and learn how to be responsible for managing, organizing and budgeting all of your expenses, investments, and savings. This article is an excellent read for you if you are someone who wants to achieve self-sufficiency with your money. DIY ventures are an attractive option for you if you like handling your business by yourself. It is a right way of making sure that you learn from your economic mistakes and know how to avoid them.

 

The message

Finding a suitable investment opportunity: The first step to DIY investing is by trying to find your first investment opportunity. Make sure you spend in a sector where you can get marginally high rates of interest on your returns. Once you have seen an area in the industry which you think has the potential to make your cash grow, all you need to do is decide how much to invest.

 

How much to invest: The second step to DIY investing is to figure out how much money you need to spend. It depends on the budget you have created for yourself. Investing money always comes with a risk of potential loss. So, make sure you have enough means to spare before you start planning on making a big spend.

 

Assess the market: The third step to DIY investing is to assess the market or the industry that you have chosen to spend your money on. It includes analyzing the risks and opportunities involved with the commerce that is conducted in the particular industry. Investing is all about trying to get a foresight of how the market works and then trying to predict the financial outcome.

 

Investment portfolio: Every DIY investor needs to have an investment portfolio, which is nothing but a folder that includes all the details related to all the investments you have made to date. Any DIY investor cannot live without an investment portfolio. It is the only place where you will be able to look at the progress your money in making collectively.

 

Fixed deposits, mutual funds, and Bitcoins: Fixed deposits, mutual funds, and bitcoins are some great ways to fire off a DIY investment. Fixed deposit accounts let you save your cash again and again and give you a huge payout when they mature. They are safe too as the government guarantees to pay you back even if the bank goes bankrupt. Mutual funds are another excellent option for a DIY investment as they let you share the risk between multiple people. Bitcoins have shown significant growth in value over the last few years, and they make for an excellent DIY investment.

 

How can you benefit

This article helps the reader understand the essentials of making a DIY investment. A ‘Do It Yourself’ type of investment comes without the assistance of an accountant or anyone else who manages your money. It is all about doing things yourself. This article will profit the reader by giving helpful tips and suggestions on how to manage, organize and invest their money, successfully.

About Ameya Padhye

Prosperfit Editorial team

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