How You Can Invest With Little Money In Nigeria 2020
Today we will be looking at this topic: Top 5 Ridiculed Ways To Start Investing With Little Money In Nigeria. From the emails, we receive from our users asking us to update them with this topic investing with little cash. We have made so much research to write down this topic today. So if you’re looking for how you can start investing with little money in Nigeria this article is for you. You can do a lot with little. If you have NGN1000, NGN100,000, or NGN5000, you can start investing with little. Never underestimate the outcome of so little savings.
You’re never going to get rich if you don’t invest in some form. Technically, even lottery winners invest their money before becoming millionaires. That’s interesting!
Saving can be tough really. You tried saving NGN50,000 and the next thing, you friend is celebrating a birthday and you want to make him feel special and decided to take out of your little. Before you know it, your little money savings are gone.
You can avoid this by learning to start investing with the little cash on you. Millionaires didn’t just get to become rich, they started saving little by little.
READ: TOP TIPS ON HOW TO SECURE A LOAN IN NIGERIA 2020
How To Start Investing Little Money
Here are 13 simple ways to invest small amounts of money:
1. Real Estate Crowdfunding
This one might surprise you, but you can invest in real estate with not much money. With crowdfunded real estate, you can put down as little as a $500 investment.
The way it works is that you team up with other real estate investors, pool your money, and buy some real estate. You become a partial owner of the property and any profit made from selling the real estate would come back to you.
2. High Yield Savings Accounts
Saving and investing are like siblings. You can’t really do one without the other. And using a cookie jar to save coins and cash can be a great way to start saving and, in turn, investing.
You can start slow — just save any loose change left over from the coffee you buy or the cost of parking. If you can put in, say, $5 a week, that can turn into $260 a year.
3. Invest Your Spare Change with Acorns
Acorns is an investing platform that allows you to invest your spare change by rounding up your purchases to the nearest dollar.
Simply link your credit or debit card and once your balance has reached $5, you can start investing with Acorns algorithm which invests your money in Exchange-Traded Funds or ETFs.
4. Invest In Mutual Funds With A Low Initial-Investment Amount
A mutual fund is a type of investment account that spreads your money across stocks and bonds.
The biggest downside of mutual funds is that most of the time, they require a large amount of money to be invested initially. We’re talking between $500 and $5,000. And as a first-time investor, those numbers probably don’t work for you.
5. Certificates Of Deposit (CDs)
This is one of the oldest and most proven ways to invest your money. Certificates Of Deposit (CDs) are very safe and it’s clear what type of money you’ll end up with.
You can buy a CD at a fixed rate which allows you to see exactly how much money you will have made when the CD matures. The bank then takes your money and lends it out.
This is all we have for this topic: Top 5 Ridiculed Ways To Start Investing With Little Money In Nigeria. Hope this article was useful?
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