As we look forward into the new year, many people have the same resolution of adopting a better savings mindset, and generally being better with their money. However, with the ongoing pandemic still putting a bunch of restrictions in place, it can be difficult trying to think of ways to save and be productive for the future.
Want to start getting better with your money heading into 2021, and begin a positive investment strategy that can benefit you in the long term? Take a look at this quick guide, featuring a couple of different ways that you might be able to get your foot on the investment ladder from the comfort of your own home.
Using your smartphone to your advantage
Completely new to investment, and unsure of where to start? You might not have realised it just yet, but that smartphone in your pocket just might be the perfect place to start. Not only can you find a wealth of different videos, podcasts, eBooks and guides to different aspects of investment, but there are also a ton of handy apps out there that you can download and start making the most of.
Examples of some interesting investment apps out there at the moment include MoneyBox, an app that rounds up payments and invests them on your behalf as you go about your everyday business, SoFi, an app that is great for learning about investment through its social features, and even Cleo, a simple savings advisor app that acts in an informal and sociable way, giving you tips and advice based on your spending and investment habits. While some of these apps might not offer you the most fruitful returns initially, they are great for providing you with a stepping stone to get into investment, helping you to get to grips with the ideas and concepts as you begin your journey in 2021.
Property Investment and the Virtual Viewing
Got a decent amount of capital stored away and want to invest in something a little bit more significant and long-standing than the average smartphone app investment of small stock/share? Property investment is not only a potentially lucrative and long-term money maker, but also something that many investors are keeping an eye on throughout the pandemic. In fact, many are already deciding to move money that they previously had invested in stocks and other volatile investments into property, as it is known to be more secure and hard-wearing in times of uncertainty.
You might think that investing in property during a pandemic would be difficult to do, given that many are unable to visit the sites and developments that they’re interested in in person, but some forward-thinking companies are actively providing an innovative solution. For example, RWinvest have been offering international investors ‘remote viewings’ for some time, and have now adapted that package into something that anyone can use to take advantage of some of the current market opportunities available. Using your smartphone as a VR device (or alternatively using the built-in gyroscope controls to move around), you can get a fully-immersive, 3D look at what a potential property might look like.