Those who aren’t great with saving money might want to think about investing it into a worthwhile opportunity.
The difference between saving and investing is that the latter involves taking some of your money and trying to make it grow by buying things that should increase in value.
To help you out, we’ve compiled a quick guide to some areas in which you could invest your money this year.
Property is one of the most common investments because it allows the investor to yield profit in a short period.
Those who invest in buy-to-let properties, especially in popular areas, can gain profit on a monthly basis via the rent they receive from tenants.
Alternatively, people can buy property to refurbish to a higher standard before selling it on to make an even greater profit. Property experts such as Flambard Williams can give you advice on how to invest in buy-to-let properties.
Stocks offer the most potential for growth meaning that you can earn more in the long term thanks to regular ups and downs in the market.
It’s true that you will sometimes make losses with this type of investment but patience over a long period of time will lead to profits in the future.
Gold has held up against inflation for some time meaning it has become a popular way for people to invest their money. Over the past 50 years or so, gold prices have increased due to an increasing demand for the precious metal.
Therefore, investors see it as a safe bet when it comes to diversifying their investment portfolio. Essentially, it has survived against the erosion of major currencies and provides a hedge against inflation.
Investors who are looking for an alternative way to invest their assets could turn their minds to art. During times of rising inflation, art has tended to be less affected than other forms of investment.
As well as being an area of great interest, art has a historical value which will remain the same even if the price drops.
Like any investment, luxury cars can both increase and decrease in value, but in recent years, the market for certain brands has seen a steady growth.
Brands competing in this luxury market include BMW, Audi and Mercedes-Benz but this category also includes classic cars that have proven to gain returns of up to 487% for investors over the past decade.
Invest in wine, and you’ll not only keep your household well stocked, but in a few years, you should be able to sell it for a profit and start again.
The wine market recently saw a change from leisurely buyers looking to start their own cellar to investors who want to trade for profit.
Widely collected and traded wines such as Bordeaux have attracted buyers who are less interested in drinking and more interested in the huge demand that has come from Asian buyers.
Personalised Number Plates
If you’re looking for an investment that’s not too risky, you should consider personalised number plates. The trend is on the rise as many people find that they add to the aesthetic appeal of their car, especially vintage vehicles (check out this guide to learn why).
Private buyers and many company owners in particular look for specific number plates that spell out their personal or company initials. Take for example Alan Sugar’s number plate AMS 1. The most expensive number plates contain one letter and one number and could cost millions of pounds to own.
The trick is to research the most-wanted combinations in your area first and then set about finding available plates for sale in the comfort of your home, as the whole process can be easily achieved online.