Adding new strings to your financial bow with discretionary income
Unless one is living from one payday to the next most of us have discretionary income which is basically what is left over after paying our fixed expenses. Rent/rates, power, phone, car running expenses, groceries, insurances, retirement savings are all fixed expenses. We do have some say in how much we are spending in some of these areas such as you can find ways to use less power, be more economical with your grocery shopping, or use the car less often.
What is left over is your discretionary spending.
This spending money can be used for more speculative investments. If you lose your money then the loss of your money is not going to cause you undue hardship.
So where to invest this money?
There are plenty of options such as crypto currency, investing in gold & silver, and the futures market.
Investing in gold is one option; there are different paths to take, they are:
(1) Purchasing shares in companies which mine gold
(2) Purchasing gold coins
(3) Investing in gold bullions
It is important to diversify but this may not always be practical for someone with limited means. Fortunately, Sharesies in New Zealand offers investors the chance to buy into the sharemarket with a minimal amount of money. If you are not from New ZEaland it is best for you to take a look at what options are available to you.
If you are going the sharemarket route then do your research on the mining companies and their track record. Also take note of whether the area they mine has met with opposition from environmentalists.
Knowledge is the key and if you do not know much about gold you can sign up here and learn from the experts:
https://affiliates.goldco.com/l/1VRW1MU2Q/
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