Do you think you don't have enough money to jump into the investments' universe? You don't have to be a millionaire to create a portfolio! Here are some tips to start investing with only $10!
Many people believe that having an investment portfolio is only possible if you are a millionaire. However, you can become an investor with only $10!
If you are able to save to buy new clothing, you can definitely save to invest! Check this list of interesting ways to join the investment universe with only a few bucks.
- Open an online savings account: It's the most traditional and safest way to invest your money, but it's also the one with the lowest return. The bad news is that average savings in an online account is under 1 percent. The good news is that it does not require a minimum opening deposit.
- Open a Peer-to-peer lending account: The P2P lending clubs connect borrowers with lenders so that they can get the money that they need from others. You can invest in these clubs and, depending on the risk you want to take, you can earn over 10% interest on your investment.
- Low-cost brokerage: It's an easy way to join the investment sector, especially if you don't have that much money. In this case, you can buy fractional shares of investment companies that usually cost more than $10.
- Invest in your hobby: Some hobbies allow you to combine fun and investments. A hobby you can monetize, for example, is collecting coins or valuable objects. This option isn't the traditional way to invest, as it does not involve stocks, but you can easily invest $10 in something you like and collect!
- Micro-Investing app: Apps like Stash Invest allow you to join the investment world with small amounts of money. You can even create an investment portfolio with $5! Through this app, you can invest with no trading commissions. Micro-investing apps can guide you in your investment goals, risk tolerance and even offer recommendations based on your portfolio.