Believe it or not, a big portion of the world’s population has never heard of financial investment. These people may struggle financially and refuse to make money work for them. Living paycheck to paycheck is a struggle, indeed but it doesn’t have to be this way.
If you have a job, no matter your salary, consider taking a portion of your paycheck and investing it in stocks, bonds or even cryptocurrencies. Why? In time, the more money you put into your financial investments, the more your investment grows. The old saying applies here: you need money to make money. Or, my favourite: make money work for you.
Below, you will find out five reasons why you should start investing money today. Remember to think of money as something that’s here to stay. If you spend money frivolously before your next paycheck arrives, you won’t learn how to keep it and grow it.
1. You don’t want to live paycheck to paycheck
Living paycheck to paycheck is a habit for many people. Perhaps you’ve seen your parents doing that and so, you’re now trying to follow in their footsteps on a subconscious level. However, if you don’t invest your money, you’re going to spend it on things that you don’t need or care about.
How many people have a garage full of junk or a wardrobe stuffed with old memorabilia or clothes they no longer like or wear? If you start investing your money, you’re going to ditch the mentality that buying too much stuff is important. Moreover, investing a part of your paycheck tells your subconscious mind that you care about yourself and your future.
2. Jobs are uncertain
Investing money is an important habit to adopt especially in today’s economy. Jobs are not that easy to find, moreover, nothing guarantees that, once you have secured employment, you won’t be let go. Perhaps you are working for a company that struggles financially and soon, they won’t be able to afford paying you. My point is that jobs are uncertain and you need to create an additional source of income for yourself and your family. A source of income that is not tied to your employer.
3. Passive income opportunities
Cryptocurrencies are all the rave right now. There are probably dozens of millionaire Bitcoin investors around the world. These millionaires started small, thinking that Bitcoin will become a trend in the financial investment world. And it did! Nowadays, more and more people are trying to learn how to invest in cryptocurrencies so they can have a source of passive income.
However, those planning to start investing their money in crypto should know the financial risks involved. Yes, you can create a passive income for yourself and your family using only Bitcoin. But you can also lose your hard-earned money in one go. Thus, you need to be prepared to withstand the price fluctuations in the crypto market.
4. Peace of mind
Having a source of income that’s not coming from your day job is a mental boost for many out there. This can soothe your anxieties and even make you feel more confident about yourself.
Think about the last time you were unemployed. You didn’t feel good about yourself and you were constantly worried about money, right? Well, if you have an investment portfolio that works, unemployment wouldn’t be a problem for you. You can dip into your investments to take care of yourself financially until a better job shows up for you.
5. Making money is fun
When you start investing money, you immediately feel better about yourself. You feel more in control of your money and your life. You will also discover that you don’t need to bust your ass for 10 hours a day, every day for a measly paycheck. One can just use their brain to make money. You can decide the type of investment you want to make, set up an online account and transfer a part of your income to this particular investment.
You can simultaneously invest your dollars in stocks, bonds, cryptocurrencies, NFTs or real-estate.
Now, it’s up to you to make your money sweat. Give your money a shovel and let it dig for gold.
Marlena is a freelance writer and technology enthusiast with an interest in business, health, and cryptocurrencies. She has written for Thrive Global, Life Hack and other publications. You can contact her on Twitter at @MarlenaEeva