The Smartest Ways You Can Invest Your Money

At Earn More and Save, we’re all about sharing unorthodox ways to earn, save, and grow your hard-earned dollars. Today, we’ll be looking at the smartest ways to invest your money. Some are unorthodox, some are not, but the bottom line is that we live in a world that’s everyone for themselves, and saving for the future is the best way to set yourself and your loved ones up for life.

Invest it Before You Spend It

Yes, this seems simple, but it merits pointing out. Invest your money before you spend it. I’m guilty of doing this myself. Case-in-point? Last month, I had a nice chunk of change saved up that was not allocated to bills. I had planned on investing every dime in new loans for my Lending Club account, but I ended up spending the money because I left it sitting in my checking account too long before I transferred it, you have to act fast and invest it in something you really need, I could have gotten a car easily if I would have used the tote the note financing method.

Don’t let this happen to you. If you make plans to do something “someday,” then life will get in the way every time and that day will never come. Commit to opening your investment accounts of choice and schedule automatic payments so you’re never tempted to spend the funds (at least that’s what I’m doing from now on).

Real Estate Still Counts

The housing market has taken a nosedive, but I still very much believe in the power of real estate. Why? For me, it’s the same reason I believe in automatic payments. If the money’s not in my hot little hands, then I’m not tempted to spend it.

I want to own rental property someday. I know that once I do, I have a house steadily gaining equity over the long haul, and I can’t spend that money unless I take out a loan. That’s too much of a hassle for me, so I know my investment will be safe in house form.

P2P Is My Vehicle of Choice

I feel the same way about P2P lending platforms like Lending Club and Prosper. If my money’s tied up in loans and I’m reinvesting all my monthly proceeds in new loans, then it will be awfully hard for me to spend the money. I’d have to sell the notes one by one to recoup my investment. Too much effort, so again, my money’s safe.

Bottom Line: Tie Up Your Dough

So, if you’re look for the smartest way to invest your money, look no further than your own self-control. The key to investing (for me) is getting the money into the investment vehicle before I’m tempted to spend it. Then, it can grow without the risk of me stepping in and deciding I need to blow $300 on a new fall wardrobe.