Where should you invest with instant cash loans?
One of the biggest personal investment mistakes you can make is to leave all your money in a savings account. Why not use your savings and instant cash loans to grow your passive income instead?
Here are some of the most promising ways that you can invest even if you only want to start with a small Singapore cash loan.
Before you invest
One of the key rules of investing is that you should not endanger an amount that you are not willing to lose. That is particularly the case if you are using instant cash loans as investment capital. Always ensure that you will be able to repay at least the minimum monthly interest on the loan with your current income before you take the plunge.
Knowledge is power is a common saying but few activities prove it to be true as often as investing. Take the time to do ample research into the sector that you intend to invest in before you throw your hat in the ring. Learn the terminology, the factors that affect that market or industry, the price indicators, and the best sources of reliable information to help you make the right decisions.
These two simple rules will let you use the best loans for the most profit in the shortest amount of time.
4 ways to invest your Singapore cash loan
- Invest in yourself
Many of us fail to realise that we ourselves are worthy of investment and capable of fantastic returns over time. You can choose to invest in yourself through formal education, industry-specific certification, trade skills, or even simple DIY knowledge. What is more important is how you turn the knowledge you gain into real-world value.
Ask your employer if they are willing to fund your education, at least partially. Naturally, this will ease the financial burden of taking a Singapore cash loan but it will also bring you to the attention of your managers. Many employers look for this positive, proactive trait when they want to promote an employee.
- Certificates for Difference (CFDs)
CFDs are a time-based agreement between you and a trader on whether a stock, currency, commodity or any other traded product will fall or rise in value. At the end of the contract period, either you or the trader pays the other the difference between the opening and closing prices. As the investor, you can pick either position depending on how you think the market will perform.
CFDs have become very popular as people realise that they can make money through them, no matter how the market, the national and international economy, or even the company or commodity is doing. Another reason is that traders allow you to enter a CFD with between just 1% and 5% of the trade value. This makes it easier to enter the CFD market with instant cash loans.
- Cryptocurrencies
Usually abbreviated to ‘crypto’, cryptocurrencies are essentially digital currencies that have to be ‘mined’ using vast amounts of computer processing power over time. The crypto market is highly volatile and prone to huge swings in value over short periods of time. If you have the nerve to hold your investment in the face of erratic market movements, crypto can be a solid investment choice.
As an example, one token of Bitcoin, the world’s first crypto was worth about US$500 five years ago and has now skyrocketed to over US$35,000. Dogecoin is another example and has received a lot of publicity over the past year.
- Crowdfunded products or companies
Widespread access to the internet has democratised the investment sphere and nowhere is this more obvious than with crowdfunded products and services. Crowdfunding basically means that a large group of ordinary people like you pools their resources to get a new company off the ground. Every investor owns a part of the company in proportion to the investment that they make.
There are several dedicated crowdfunding platforms today and some are industry-specific (for example, comics) but most are open to anything. Choose a product or industry that genuinely appeals to you, or that you are familiar with. That passion and knowledge will help you make the best investments with the best loans.
Please note that we are not financial services advisors. Always consult a professional before making any investment, even when you are getting the best loans.