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Make Your Money with Short-term Investments
Some investments are best for the long-term. You want to try and make as much as you can over many years so that even when things are looking a bit shaky, you can still rely on things evening out to allow you to come out on top.
Other investments are best for the short-term when you want to try and earn as much as you can over a few years or perhaps even a few months. If you want to make some money in a shorter period of time, there are some investment types that could be ideal for you.
Savings accounts are excellent choices for long-term investing, but they can also work if you want to save some money in the short-term too. Maybe you’re saving for something specific, like a house deposit, or you just want a way to put some general savings aside.
Before you choose an account, compare available rates to see the best deal you can get. Sometimes, the bank you hold your current account with can be the best choice. You could get 5% AER with banks like Nationwide and M&S Bank. Check the term of the account and whether you can make withdrawals during this time.
Bonds are another short-term saving option to consider. You can invest your money for around three or five years. During this time, you can get guaranteed returns and you won’t have to part from your money for too long.
Some bonds even have terms of only a year or 18 months, so you can get your money back quickly. As well as bonds from banks, you might look at companies like Viderium Ltd looking for investments. You can support a growing business while enjoying some great returns on your investment over a short period.
For some, foreign currencies and cryptocurrencies might be good options for a shorter term investment. In fact, it makes sense to invest your money in these things for the short-term, as their value can go up and down so much.
Cryptocurrencies offer an interesting option, although it’s probably a bit too late to make the short-term profits on Bitcoin that many investors were able to make towards the beginning of its conception.
Trading in both foreign currencies and cryptocurrencies can be tricky, though, so it’s important to do your research so that you know what you’re doing.
You might also want to consider the option of short-term property investments. Investing in property is often a long-term choice, especially if you want to make a return with rent.
Short-term property investments will usually involve renovating a property and selling it on for profit, or flipping it. Getting this right isn’t as easy as some might think. If the renovations end up costing too much, you’ll have eaten away much of your potential profit. Many of the people who are able to make a good profit on these projects are able to do some of the work themselves.
A short-term investment can still be profitable for you, and it means your money isn’t tied up for too long.
This is a collaborative post.