In 16 Ways to Invest $100 I gave suggestions on how to invest when you have just a few dollars.
In this article I want to take it up a notch, which is to say how can you invest when you have more than a few dollars, but not the thousands that traditional investment vehicles usually require? You can also check out my post on the best short term investments for your money!
Before I started investing, I was under the same misunderstanding that you had to have thousands of dollars to get started, and my thoughts were how to invest 10K or how to invest 100k? Well now I know more about the world of investing and I can help you out with these same thoughts and fears.
I was surprised – shocked really – that I could start investing in the stock market via mutual funds with only $50 per month.
And that’s exactly what I did. Even though I later found out that the mutual funds were okay at best, the fact that I started investing in myself was huge for me.
And for many, it’s that first step that prevents them from amassing wealth later on.
Investing in yourself doesn’t require thousands, it just takes getting started.
For our purposes here we are going to define small amounts of money as something more than $100, but not more than $1,000. Based on that parameter, here are 15 ways to invest small amounts of money. Do you need help finding some extra cash to get started with your investment? Check out these tips on how to make money fast!
The top 15 best ways to invest small amounts of money:
Pay Down Debt
Employer Matched Retirement
Your Own Retirement Plan
US Treasury Securities
Your Own Skills
Dividend Reinvestment Plans (DRIPS)
Mutual Funds and ETFs
Online Brokerage Firms
Your Own Business