Extra Cash? Here’s What To Do With It

Now, we’re not saying we’re too familiar with the idea, but from time to time you might find that you’ve got a little extra cash than normal. Perhaps you received a bonus from work, perhaps you got a windfall inheritance from a family member, or perhaps you’ve managed to sell one of your larger assets. It’s all good and well, we’re sure, to have some money burning a hole in your bank account, but what on earth should you do with it? Luckily, there are a few tried and tested areas where you can put your money. Here’s a few of the most common (and one that’s the most rewarding).

Save It For Your Retirement 

If you’re at a loss as to where to spend your money, then why spend it all? It’s not going to anywhere if you don’t spend it the first day you get it (and it’s unlikely to disappear ever unless something goes drastically wrong in Donald Trump’s America...yikes). Instead, keep it in a savings account and wait until you’re retired. It’ll take the stress of saving a portion of your monthly wage away, and you’ll be able to sleep easy knowing you have the cash for that cruise in the Arctic you always wanted to go on! 

Invest in the Next Apple 

Though that being said, you could also look for professional investment advisory services and try and make your sizeable amount of cash into a super duper trolley load of cash! OK, maybe that won’t happen (though you never know, you could stumble upon the next big thing), and in all honest investing isn’t quite as glamorous as it’s made out to be; it’s simply a wise place to put your money, as it can yield solid returns without taking too much of a gamble. Oh OK, we’ll say it - it is kind of exciting. 

Properties Galore 

Property has been, is, and probably always will be a sensible place to invest, purely because...there’s only so much space in the world and there are more people being added to it all the time! That doesn’t mean that every bit of property is a wise investment, of course. You’ll need to do your research, and it’ll also be handy to have a few skills so you can improve the property and make a profit. You might want to avoid places like London or Vancouver, for instance, unless you’re planning on turning the property around pretty quickly, as there’s a chance these cities are currently in a housing bubble

Make a Charitable Donation 

There’s no law that says you can only spend money to make more money. If you’re doing pretty well as it is, will some extra money really make all the difference? To you, it might not. To a charitable cause, it might mean everything. Pick a cause that’s close to your heart and do your research on which charities that are involved in this field are the most effective. You’ll feel good, and be making a positive difference to the world.

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