The reason why most people don’t get rich is because they don’t invest, rather, they spend(consume). There is nothing wrong in spending your money, after all, you worked for it. But if you have big dreams or ambitions, continue reading to know what investment will be beneficial to you as a young adult.
Investment in my words means making money work for you. For you to make money work for you, you need to save ( see more on Do I really have to save?). Once you got some savings, it’s time to invest.
As a young adult, you can confidently invest in the following
It is without a glimpse of doubt that the best place to spend your money in hope for a better return is on yourself. Now when I say spend money on yourself, you might be thinking the new dress or pair of shoes you just bought was part of spending on yourself. You are right if you are thinking that way. In this context we are referring to investment, something that will bring you a return profit. If the new dress or new pair of shoes will bring you a return on investment, you can go ahead and be proud of yourself for you have made a good investment. For the most part, there are better ways of investing on yourself with the confidence of a definite return profit. You could take up a course in college, get some vocational training, you could buy books that will help improve your knowledge and mindset about how you can grow better, these and many more are some of the many was in which you could grow by investing in yourself while confidently expecting a positive return profit.
2. INVESTING IN OTHERS
We usually hear most of our parents say their children are the best investment they ever made. You may not have kids yet as a young adult, but if you have a little money and see and opportunity to help someone you know or even someone you do not know, I will say you should go ahead and invest in them. Life is a chain of people helping one another. The problem is when you refuse to invest in other people, you are breaking the chain.
We always wish for that one opportunity to come our way so that we can make it in life, we forget to acknowledge the fact that we are the opportunity someone else is waiting for. It might not be financial investment, you could actually invest a little bit of your time and knowledge in others. This investment on others might not help you in the short run, but this will benefit you in the long run. It does not matter if the person you invest in pays you back or not, just the satisfaction of seeing someone else succeed thanks to your help should be enough to boost your confidence and self esteem.
A trend refers to any activity that is in fashion, that is something everyone go for it. It changes with time and season, but if well handled could be a hot cake for a young adult.
OMG!! This should be your hit spot. Come on! You are young, innovative and full of adventure, investing in trends will do well for you.
What makes it profitable is that, the more you flow with the change in trends, the more money you make.
It can include all sorts of trends: food trend, fashion trend, seasonal trends and lot more. Remember trends if not well handled will only bring you losses. Investment should bring you profit, so when investing in trends, you should have in the back of your mind what the main goal is, which is to make profit. It might not be immediate profit, but this should be the long term plan. The best way to invest in trend is to actively sell or create them, that way you make more income following what people like.
4. SOCIAL MEDIA
The world is evolving and social media is taking over many industries. Many people make money while others make friends. Do you know, with above 1Million followers , people make more than $5,000 per post on Instagram? Just imagine uploading 20post per month😲.
Yes, the issue is to get thousands of followers and likes, but how do you do that? ( how make money on social media? Will be available soon on my blog). This does not mean we should get involve in the work of social media simply because it brings money. Some people do well with social media, while others don’t just have the skills to do it and that is okay, the next point is for you.
However, if you are creative. It’s a chain, if who you are, or what you do on social media is trending, then you got your possible investment domain.
5. YOUR PASSION
I have listen to a lot of success stories and if you have too, you will agree with me that following your passion is the one single great thing that will make you rich. You might not be the social type of person, maybe you are an introvert. That is no big deal. I Know there are a lot of ideas going on in your mind, please liberate them, we want to get a taste of it😞.
You can go anonymous, people need not know that it’s you. What’s your passion? Name it… Invest in it, that is what will bring you success.
Read more about following your passion at How can a Young adult make Money?
Note: investment is a risk, you decide to play it safe or you get in to it with the mind of a business tycoon. You mustn’t make profit on first try, just don’t give up!!!!