How To Start Your Investor Journey: 5 Credible Options To Explore

Published on: 04 February 2022 Last Updated on: 07 February 2025

If you want to have a comfortable financial future, you should start investing.

You must have understood that the trajectory of our lives can change anytime, and one of the most recent examples of that trend is the COVID19 pandemic.

We have seen how a subtle, and stable economy can be turned over its head in a matter of few days during this time.

During that time, people started investing in digital currencies such as ekrona to get a reasonable return.

However, there are other investment options too. So, if you want to know about them, keep on scrolling.

Why Should You Invest?

Investing is an excellent source of passive income, and even if it sounds risky, there are plenty of safe investment options available in the market too.

If you want to build a retirement fund, your only viable option is to start investing right now. This way, you’ll have an emergency fund too if your loved ones fall sick suddenly or you need a capital amount to start a new business.

Top 5 Credible Investment Options To Explore

If you are willing to take a little risk and start your investment journey, there are plenty of options to choose from. We are bringing the most credible ones here so that, as a beginner investor, you don’t have to go through too many complexities.

Let’s take a look:

1: High-Yield Saving Accounts

This is the safest yet more convenient investment option. The higher your cash balance is in an account, the more interest you get.

They don’t have many overhead costs, which is why they let you earn much higher interest rates at online banks.

If you want to access the fund immediately, you can always transfer it back to your account and withdraw the cash via an ATM.

These are the safest investments because even if you don’t get a good return, you also don’t lose a dime.

2: Deposit Certificates

Banks issues deposit Certificates. They usually offer a higher interest rate than savings accounts, which makes them an attractive investment choice.

If you are looking at short-term certificates, they will be better options when you expect those interest rates to rise, enabling you to reinvest at higher speeds when the certificate reaches its maturity.

These time deposit certificates are federally insured, and they have specific maturity dates that can range from weeks to years.

This may be a drawback because you can’t withdraw the money before a certain period without giving a penalty. But, if you need immediate income in a short time, this is undoubtedly a good investment option to explore.

3: Government Bonds

You can always invest in government bonds if you want a risk-averse investment option. For example, you can invest in mutual funds or ETFs, which won’t expose you to market vulnerabilities.

Some government bonds also invest in debt-backed securities issued by government-sponsored business enterprises.

Even though these investment options are considered low-risk, if interest rates increase, their return would decline.

However, if you are stepping into the world of investment opportunities, this can be an excellent place to start and ensure a steady cash flow.

4: Dividend Stock Funds

Dividend stock funds are a good investment option for almost any investor.

Those who need revenue and can stay invested for extended periods may find these stock funds attractive.

If you buy a group of individual stocks that provide a certain margin on dividends, you can generate a sufficient return on it.

On top of that, if you invest in dividend funds, your stock market investments also become less risky. So the best part of dividend stock fund investment is you generate a substantial return on both short, and long-term prospects.

5: Cryptocurrency

The most popular Cryptocurrency is Bitcoin. Although its price fluctuates significantly, the digital currency world attracts many investors.

In fact, Bitcoin being the most popular digital currency, soared up to $30,000 at the start of 2021. However, it also declined by $60,000 before falling back into the static zone

We understand the start of 2022 was rough for Cryptocurrency, but it is still a plausible investment option to explore.

In fact, it is quite usual for these digital currencies to fluctuate markedly before eventually rising further. So those who bought and held may undoubtedly have a good return on their investment before this year comes to an end.

The Bottom Line

If you have gone through the article, you must have figured out the most credible options to start your investment journey.

However, you must keep in mind that all investments come with a bit of risk, and nobody can control them.

If you are willing to take that risk, start investing right away. For further information, let us know in the comment box below.

Read Also:

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Eight Essential Tips For Getting Out Of Debt

Do you feel like debt is slowly ruining your life? If so, you should know you're not alone. Although the road to getting out of debt is a long one, it's not impossible to do so. We've put together a list of 8 tips for you to get started and live a debt-free life. Let's get started. 1. Find Out How Much You Owe : This is a step that you probably have avoided for some time because you fear to know the number. But if you are serious about getting out of debt, you must know exactly what you owe. Start by making a spreadsheet listing every single debt you have. It might also be helpful to specify if those debts are outstanding, so you know which ones need attention. Once you know exactly what you owe, you'll be able to see the bigger picture and not be blindsided by unknown debts. The spreadsheet will help you keep track of your progress, and you will feel more motivated watching the numbers go down. 2. Stop Adding More Debt : This might sound like an obvious step, but if you're trying to get out of debt, you shouldn't create new ones. While it might be difficult to avoid temptation, you must do so in order to pay off your debts. If you pay off your debts, only to use them again, you will never finish. Start paying for large purchases using cash, and not buy anything you cannot afford. This will keep you on track to paying off your debts faster. If having your credit cards around is too much temptation, try cutting them up or freezing them. That way you won't feel tempted to walk into a department store when you see a sale. 3. Try to Negotiate Lower Interests Rates : It's no secret credit cards come with really high interests rates, which makes it so difficult for people to pay them off. If you signed up to enjoy the introductory 0% APR and now you have to pay more interest than you can handle, it's time to renegotiate. It's possible to talk to your credit card company and try to negotiate a lower interest rate. You can start by calling and simply asking them to lower your interest rates. But before you call, you might want to have a strategy. Begin by calling your oldest credit card and using your loyalty to open up negotiations. Being a loyal card member might provide you with some extra benefits. Don't forget to always be polite. 4. Find Ways to Make More Money : We understand it might be difficult to pay off your debts when you're living paycheck to paycheck. In fact, this might be one of the reasons why you got into debt in the first place. In order to help speed up the process, it might be a good idea to start making more money. Try to get creative and find ways to earn more cash. Why not get a part-time job, talk to your boss about getting a raise, or find a side hustle. Then you can put that extra money into paying off your debt. 5. Focus on Building an Emergency Fund : You might want to put all of your efforts into paying all your debt, but it's also important to have a little saved up for a rainy day. Even though you need to pay off your debt, you also need to build your emergency fund, both are just as important. The reason is if an unexpected expense comes up, you will have enough saved up to cover it without needing to use your credit cards. Having money saved up will help with the process along so you stay on track. 6. Sell Items You Don't Need : If you want to look for other ways to make a dent in your debt, then look around your house. Sometimes we accumulate things of value without even knowing it. You might be able to get some extra cash by selling items you have laying around the house. You might be able to sell old broken gold jewelry and get some money out of it. You might also be able to also sell electronics, art, and furniture. There are many ways to sell your old stuff. You can have a garage sale, post on Craig's list, or even sell on eBay. 7. Create a Budget and Stick With It : If you want to have enough money to pay your bills and pay off your debt, you should make a budget. Creating a budget will help you allocate where all of your money goes, so you don't have to wonder where your money goes each month. If you stick to your budget, you'd be surprised how much you could have leftover at the end of the month. Any money left over will be used to put towards your debt. Having a budget will also be good practice for life after all your debts are paid off. Sticking to a budget will secure your financial future. 8. Decide which Debts to Start Paying First : Even if you want to pay off your debt, you might not know where to start. This could be a confusing process for many people. If you have student loans, car loans, mortgages, and credit card debt, you might want to start tackling your credit card debt. Credit cards have the highest interest rates out of all your other lenders. Once you're done paying off your credit cards, you can put that money towards paying off your other debts. You can start paying off the credit card with the highest interest rate and highest balance. Once you do, you can move on to the next. If you want to learn more about which debt to prioritize, request more info here. Getting out of Debt is Possible : Getting out of debt might seem like an impossible thing to do. However, it's not as difficult as you think. Get started by making a list of all your debts, create a budget, and even try to find ways to make more money. If you want to learn more finance tips, visit our blog. Read Also : Are Debt Consolidation Loans Recommended For Credit Card Consolidation Dealing With A Debt Relief Officer For A Better Assistance Proper Management Of Tech Debt Is Necessary For Successful Business

6 Ways to Get the Best Deal from Your Licensed Moneylender

One thing you need to know is that a moneylender can refuse to lend you money. This happens due to various reasons. In most cases, people's financial requests are denied due to the fact that they don’t qualify. Every Licensed Moneylender has its own requirements. So it will only make sense if you assess yourself in relation to the moneylender's requirements. You need to make sure you know where you stand as a borrower. However, this is not all. Sometimes, you need to prove to your moneylender that you deserve a better deal. This might be hard if it your first time. There are many ways you can make your borrowing experience better and get a good deal. Some of these ways include: Different Ways You Can Get The Best Deal From The Licensed Moneylender Are As Follows:- Different Ways you can get the best deal from licensed money lenders are as follows. Some of the core factors are as follows:- 1. Relationship In life, people have different relationships. However, for any relationship to exist, there must be something common that brings the two of you together. This is the same when it comes to you and your moneylender. How do you expect to get a good deal from a licensed moneylender you haven’t been having a financial relationship with? The most important thing you need to know is that you need to build a good relationship with your moneylender. If it is a bank or any financial institution, try and bank with them. In short, for you to get a better deal, you might have to prove that there exists a relationship between you and the moneylender. The relationship has to do with your financial records. Sometimes these relationships will get you a better deal. 2. Occupation or plan Lending money isn’t as easy as you think. It is a situation where the licensed moneylender chooses to work with you with a lot of trusts that you will pay. They have to trust you to pay back what you owe them on time. Have you ever lent money to your friend and they failed to pay you back on time? How did you feel? That’s why in most financial institutions, they have come up with a rule whereby the borrower needs to prove that he or she has a payment plan. If you expect to get the best deal, then you better come up with a payment plan. If you have a fulltime job, then it will even be easier for you. At least this will prove that you have a payment plan. Sometimes, you might not be employed but you have your own business. In such cases, you should also provide a payment plan that will win your moneylender’s heart. 3. Self-evaluation Do you know yourself when it comes to the personal character? What are your strengths and weaknesses? Every borrower should know their strengths. This is because you might need them so that you get a better deal. Basically, you will have to prove that you are a person of integrity. A person of integrity is honest and trustworthy. You need to prove this so that your licensed moneylender can give you the best deal. The only way you can prove this is by providing them with your repayment history papers. Have you borrowed money before? How long did you take to pay? Have you ever defaulted any payment? Such questions will help you know whether you stand a chance at getting a better deal or not. Any moneylender will hesitate to help a person who has defaulted on payment before. So the stronger your credit score, the better your chances of getting a good deal. 4. Purpose Any money lending institution such as Lending Bee licensed money lender that provides personal loans will be very happy if you walked into their offices knowing what you wanted. Some financial institutions will see that as a sign of someone who is serious. Remember, you want to paint a good image so that you get the best deal possible. This means that you provide the bank with all the information about why you need the money. If you intend to invest the money somewhere, the moneylender would be more than glad to give you a good deal. You can come with investment papers to show the financial institution. 5. Negotiation The other thing that can convince your moneylender to give you a good deal is your ability to negotiate for it. Don't be afraid to negotiate. Negotiating is good because you put your interests as a priority. Basically, all you need to do while negotiating is to make sure your moneylender understands where you are coming from. This doesn't mean that you should lie. Just be honest and you will be amazed at the type of deal honesty will get you. 6. Loyalty You might not be aware, but one thing that can get you the best deal is how loyal you are to your moneylender. You can show your loyalty in many ways. The most obvious way is by telling your money lender how many years you have been using the institution. If you have been around for long, the better for you. The many years can prove your commitment and loyalty to the moneylender. This way, you will be able to get a better deal. Read Also: Ways That You Are Wasting Money On Marketing How To Make Money With Your Smartphone Don’t Get A Second Job: 10 Unconventional Ways To Make Money

How to Find the Best Exchange Rates

Traveling or trading with foreign currencies require additional fees, which often include surcharges for credit cards, commissions, fees for ATM, and others. Whether you are travelling to a new country for a vacation or considering expanding your currency portfolio, it’s no surprise that financial institutions are looking for ways to increase their profit in the long run. After all, each of them is technically running a business. If you are looking for a way to add more value to your money, there are ways on how you can find the best exchange rates almost effortlessly. Here are some tips to remember: 1. Research the Exchange Rate Beforehand: Exchange rates differ from country to country. There are countless online currency converters available, many of which come from reliable sources that are derived straight from the Forex market. If you are purchasing cash online via a mobile application, you may notice some additional charges that come with the conversion. To get the most of your money, consider searching for various cash apps with affordable transaction fees and compare them with each other before ultimately deciding which works best for you. 2. Plan ahead: For travelers who are visiting another foreign country, one of the best things you can do while preparing for the trip is to plan how much money you are going to need. After that, you can purchase your foreign currency ahead of time online instead of the last minute which usually requires costly delivery rates. Purchasing ahead also gives you a chance to see whether or not your payment has come through and allows the business the chance to confirm your identity. Purchasing currency online also saves time spent standing in lines and can be done as quickly as possible. 3. Use Credit and ATM Cards: ATMs abroad usually provide the best exchange rates when it comes to purchasing foreign currency which are usually 2-7% better compared to exchanging cash or traveler’s checks. During travel, it’s best to avoid using money exchange kiosks in public transportation areas and tourist spots. 4. Exchange Cash and Traveler's Checks: For people who may not want to use their cards for small purchases, exchanging cash and traveler’s checks is another way to find good exchange rates. However, be wary of exchanging them in tourist-filled areas like airports and train stations. Consider checking in banks and post offices. To get a proper exchange rate, read the postage rates very carefully and ask for the net rate that comes after commissions. It’s important to remember that commissions work in two ways: The commission that takes per percentage. The commission that is charged per item and transaction. To lure tourists, certain money changes that are not at banks or post offices will post the sell rate for the currency rather than the buy rate, which means you might be buying more than what you intend to spend. These money changers may also offer great rates exclusively for traveler’s checks or very large sums of money which can be dangerous to hand carry around. As an added precaution, be wary of exchanges in the black market which often include scams and counterfeit currency. 5. Watch out for hidden charges: Some companies may offer deals that advertise how much money you can save if you choose a specific delivery option, which actually includes extra hidden charges. To be safe, find out how much you are paying in total and exactly how much currency you will receive, changes with great exchange rates can be negated by commissions and handling fees. 6. Read the fine print: There are various apps and sites out there advertising the fact that they do not include transaction fees, delivery fees, and commissions. While this is very tempting, the last thing you want to do is to purchase a large sum of currencies only to realize that there are certain limitations and deductions. As much as possible read the fine print in the site’s terms of use. You can also call the company and ask some questions they may not address in their website. Conclusion: Dealing with foreign currency doesn’t have to be a hassle. As a currency trader or a traveller, one of the most important things you can do is actively research on a reliable business that stays close to the exchange rate without adding in extra hidden charges. While it may be time-consuming at first, learning to add value to your purchases is simply an investment you can’t avoid. Read Also: The Glitches Arrived In Travelling To New Place Tips To Help You Learn A New Language In A New Country

How To Start Your Investor Journey: 5 Credible Options To Explore

Why Should You Invest?