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Money seems to be that ever elusive commodity these days, and we are always looking for ways to make more of it and become more comfortable. Now, as a single mum, this can prove even more difficult because it’s not as though you have the time to work extra jobs! So, you need to get a little more creative about how you can generate extra income.
It is for this reason that more and more single mothers are turning to the world of investing in order to try to supplement their income from work. This is something you have to make sure you look into carefully because there are plenty of investments you can make, but only a select few are going to be right for you. These are some of the shrewd investments that single mums can make today.
Bonds are an excellent choice for single mums because they are a low-risk investment opportunity. There are many different types of bond that you might choose to invest in, and you are looking for something with the promise of a good yield for the future. This is something that you need to make sure you research before committing, but it can be a very good choice for some long-term investing.
While it’s true that cryptocurrency is incredibly volatile, and as such, would not be good for large sums of money, it is also a digital asset that doesn’t require a lot of money for an immediate investment. Because of how much the market fluctuates, you could wind up making a decent return on a small amount of money. Don’t forget, there was a time when a single Bitcoin was valued at less than $0.01, and today it is currently valued at just over $12,000 at the time of writing. Of course, you don’t even have to buy whole crypto shares, as fractions of coins are also available, meaning you only need to spend what you can afford.
- License Plates
Yes, you read that right. License plates can be a wonderful investment for the future, in particular, personalised number plates. These are a commodity, and because they are unique and unusual, they appeal to people. Because these are unique, their value increases over time, and this can often make them more of a strong investment prospect than other options on the market. This is certainly an option to consider, and it is a unique and fun way of investing money in something that can also be practical too. If you can get this right, you might be surprised by how much you will benefit from it.
There are so many great choices to consider if you want to put your money in the right places, and this is something to keep in mind. Do as much as you can to research thoroughly and make the right choices that are going to allow you to get the best return on investment, while also making sure you’re not in financial difficulty at the same time.