How To Invest Small Amounts Of Money
Want to know how to invest small amounts of money? Excellent! Stick with us, and we'll show you to do it!
How to Invest Small Amounts of Money Like a Pro
1. Try Out Treasury Securities
Granted, not many investors start out by using treasury securities. But that doesn't mean you can't. It won't make you rich, but it's pretty safe and super easy to use. Otherwise known as savings bonds, the US Treasury's bond portal allows you to buy them easily. Maturities last anywhere from 30 days to 30 years, starting at $100.
You may not be able to get a massive return on your investment, but it's still an option when you're learning how to invest small amounts of money.
2. Use Your Employer's Retirement Plan
A strict budget makes even the smallest investments seem like they require far too much money. So, we recommend securing your financial future by enrolling in your company's 401(K) or other retirement plans. It's an easy step that allows you to put as little as 1% of your income into the plan.
The small percentage typically goes unnoticed. Not to mention that your employer may match your contribution! Plus, you can always increase the percentage as the years go by, and you continue to learn how to invest small amounts of money.
3. Use Betterment to Automate Your Investing
There are plenty of Robo-investors or Robo-advisors that give you professional portfolio management with little to no fees. The best of the bunch, however, is Betterment.
First, you complete the online questionnaire that allows the site to figure out your preferred risk tolerance. It then creates a portfolio for you based on this risk. Regardless, it'll include a variety of ETFs (or exchange-traded funds).
Our favorite thing about Betterment is you don't need to meet a minimum deposit requirement. However much you have is good enough. Keep in mind, though, that fees of 0.35% of your account balance are charged if you have less than $10,000 in it.
4. Try Online Brokerage Firms
When you first start your journey into investing, you may well be surprised by the number of brokers allowing small-dollar investors. Amazingly, there are limitless. The best are as follows:
- ZACKSTrade — It has a very innovative platform and supports global trading. You get one free withdrawal per month.
- SoFi — You can open an account with $100 and get guidance from real advisors and robo-advisors. Investing is automatic.
- Wealthsimple — You don't need to pay trading, transfer, or rebalancing fees with this platform. All rebalancing completes automatically, and you can access your portfolio via their mobile app.
- Wealthfront — If you've never invested before, Wealthfront is brilliant. It comes with reasonable fees, but the good news is that you get the first $5,000 handled for free.
- M1 Finance — Like SoFi, you can start with just $100. There are pre-made portfolios available for you to choose from.
- Acorns — The Round-Up feature lets you round up all your purchases to the nearest dollar and invest it automatically.
5. Invest In Yourself
If there is a course or other type of development program that could propel you into the next stage of your career, investing in that will increase your earnings in the future. Usually, this is one of the cheapest ways to start investing. Online courses are all the rage right now, and they come with super attractive prices.
What To Do If You Haven’t Invested Into An Emergency Fund
When you're in an emergency, starting an investment portfolio isn't the way to go — it takes too long to get ROI. So, you can try an online title pawn.
What Is An Online Title Pawn?
An online title pawn is a short-term type of loan which you can get if you’re at least 18 years of age and outright own a vehicle (a car, truck, or van). To get an online title pawn, you’ll need to provide proof of that ownership using a lien-free vehicle title with your name on it.
How To Get An Online Title Pawn
- Submit the online inquiry form on our website.
- One of our loan associates will give you a call back to discuss the process. Let them know where you’d like to meet with an agent for a vehicle inspection – and they’ll drive to meet you there.
- Show the agent your driver's license (or another photo identification card issued by the state), lien-free title to your vehicle, and your vehicle.
- Wait while the agent inspects your vehicle and paperwork to determine whether you qualify for the title pawn as well as how much you can get.
If you are eligible, sign a few papers and get your money either on the same or the next day.
Get Started With An Online Title Pawn Today!
Now you know exactly how to invest small amounts of money and where to get quick cash when you're in a pinch. Don’t hesitate to get in touch with Georgia Auto Pawn, Inc. for any questions about car title pawns online or submit an online form to get started!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.