Best Way To Invest 1000 Dollars? Here Are 12 Tips To Invest $1000 Today
Want To Know The Best Way To Invest 1000 Dollars?
Here Are Our TOP 12 VERY BEST Tips To Invest $1000 Today
So let’s imagine that you have just won or received $1000 that you can freely play with.
For most people $1000 might not seem like the massive amount of money it was when we were kids or teens.
That doesn’t mean that you still can’t get lots of value from $1000 if you spend it wisely.
While you could go purchase a new watch or a few pairs of nice shoes, there are other alternatives that can make a more positive difference in your life.
If you have a spare $1000 to invest, consider these alternative ways to invest that money:
BEST WAY TO INVEST 1000 DOLLARS
TIP # 1 – Get a physical
They say HEALTH IS OUR GREATEST WEALTH but guess what?
Most people don’t put their money where their mouth is.
If this is you – someone who is so busy working on getting your finances into order yet you have totally neglected your health – then I hate to say it but you may regret that decision years down the line.
Many older folks haven’t had a thorough physical in many years or exercised in a way that works up a sweat.
While this is probably not a fun way to spend your $1,000, it has the potential to save you much more over the long haul by correcting and preventing physical ailments before they cost you much more than $1,000.
The long-term savings from medical expenses can be significant if you invest in your health and/or get a physical.
BEST WAY TO INVEST 1000Â DOLLARS
TIP #2 – Invest in your career
Guess what? Adult education is a million times cheaper than going back to college – yay!
Okay not a million times cheaper but you get what I mean – it usually doesn’t break the bank.
Don’t believe me – then check out the courses on Udemy and allow your mind to be inundated with the sheer amount of knowledge you can gain on various topics.
Why not consider investing that $1000 into your career?
A professional certification might be just what you need to take your career to the next level.
Other options include: a public speaking or a confidence course or a PR, social media or marketing course. Anything that contributes to a change in YOU and your professional development will potentially positively impact your future.
BEST WAY TO INVEST 1000 DOLLARS
TIP # 3 – Invest in a money-making course
Similar to the idea above, why not invest in a money-making course that gives you more skills in the area of finance?
Investing in yourself is always the best investment you can make.
What do you want to know more about – stocks, mutual funds, property investments or maybe its how-to-make-money-online business ideas?
Whatever the case do your research – it doesn’t need to specifically be a course.
Maybe it’s involves purchasing a few good books or enrolling into a membership site.
This is one investment that is specifically geared to helping you double, triple, or quadruple your money later on down the line.
BEST WAY TO INVEST 1000 DOLLARS
TIP # 4- Invest in an adventure
Don’t think investing in a holiday or adventure is a real investment, think again.
My family and I have taken a few long summer trips to Europe that have cost a bomb and every time I hesitated first, wondering if it was worth the expense.
But there’s a saying that goes like this: you only have 18 summers with your children, so use them wisely and make them count.
(Sorry I’m not sure if that’s the actual saying but that’s how I have interpreted it).
Looking back at all my years as a mom (more than 15 so far) those holidays with my children and family was the BEST MONEY WE HAVE EVER SPENT.
Hands down, the best investment of our lives.
So please don’t dismiss the value of a holiday or an adventure.
If you only have $1000 to invest, spend it in the best way you can.
Now might be the perfect time to finally do something adventurous that you’ll remember forever.
BEST WAY TO INVEST 1000 DOLLARS
TIP # 5 – Get into shape
Remember that first tip I suggested about investing in a physical?
You can also use this money to get back into shape if you have neglected giving your body the necessary attention (aka exercise) it needs.
Ask yourself now: when was the last time you really considered yourself to be in shape?
When was the last time you were proud to walk around in your swimsuit at the pool or beach?
Has it been a while?
Now ask yourself: what would it mean to you if you lived a healthier life?
What value and impact would it have on your life?
If so, let this be the year that you finally get your weight and fitness under control.
This is another overlooked but much important investment – your health does matter!
It is health that is real wealth and not pieces of gold and silver – Mahatma Gandhi
To keep the body in good health is a duty-otherwise we shall not be able to keep our mind strong and clear – Buddha
Health is not value till sickness comes – Thomas Fuller
For the record studies have shown that you’re less likely to get sick or die early if you’re in good physical shape.
This is another investment that will save you on medical bills many times over in the future.
BEST WAY TO INVEST 1000 DOLLARS
TIP # 6 Buy stocks
If you are curious about investing in stocks but have never taken the big leap, starting with a small amount like $1000 is a good place to start.
I still believe you need to do your research first – otherwise it’s like gambling away money at a casino.
Not all stocks make a profit but not all stocks make a loss either.
Put in the hours to learn the ins and outs of stock trading and you will hopefully make that $1000 grow and grow!
BEST WAY TO INVEST 1000Â DOLLARS
TIP # 7 – Consider a low-risk mutual fund
Alternatively, there are mutual funds that only invest in companies with the lowest volatility over the previous 12 months.
Most of the stocks held by this type of fund also pay dividends. This is the nice, safe option for investing $1000.
These funds tend to do as well as the market overall with much less risk.
BEST WAY TO INVEST 1000Â DOLLARS
TIP # 8 Invest in your child’s education
We all want our kids to have the opportunity to receive the best education possible but seriously, colleges are expensive!
A college savings plan is a great place to invest your bonus $1000 and begin preparing early for your children’s future.
The sooner you start, the easier it will be – trust me!
BEST WAY TO INVEST 1000Â DOLLARS
TIP # 9 Invest in your retirement
I’ve also added this tip under the banner of INVESTING IN YOUR FUTURE.
I know, I know, it can feel hard to invest in something that you can’t hold in your hands or that you won’t see the benefits of for years to come.
But it’s one of those tips that looking back in life, with hindsight you will say you wish you had done
BEST WAY TO INVEST 1000Â DOLLARS
TIP # 10- Make a micro-loan
There are many websites that allow you to make small loans to people all over the world.
Peer-to-peer lending is basically crowdfunding for loans where each person who contributes to the loan gets paid back with interest.
In addition to the wonderful feeling of helping others realize their dream, you will receive regular progress reports as your money is being repaid.
You not only get to make some money but will also enjoy the feeling of helping someone else out too.
BEST WAY TO INVEST 1000Â DOLLARS
TIP # 11 Start a small business or side hustle
Well given that I grew my own side-hustle business of blogging into a full time job, I think this is the BEST way to spend your $1000.
HONESTLY THE BESTEST EVER! Who doesn’t want to be their own boss?
If you have a small business idea – whether it’s selling printables on Etsy or candles online I say go for it!
What are you waiting for? Life is short and the time to chase your dreams is now.
For the record you will also work harder than anyone else would to make that money grow and your business successful.
BEST WAY TO INVEST 1000 DOLLARS
TIP # 12- Get a new computer
As a blogger I love the idea of investing a spare $1000 into a new computer, but that’s only because I am on my laptop all the time and I would definitely get my money’s worth out of this investment.
Is your computer several years old?
Does it seem to be a lot slower than it should be?
Is it crashing every other day?
If so, it might be time for a new computer, especially if it contributes to work productivity and reduces the risk of you losing your work if or when the hard drive dies on your old computer.
Just so you know, if buying a new computer consequently contributes to greater productivity, more focus, more desire to succeed in your business (which eventually leads to way more than $1000 in additional revenue) then it is a great investment!
So there you have it – 12 ways to invest $1000 instead of spending it carelessly.
Remember an investor without investor objectors is like a traveller without a destination.
This is why it is so great that you are taking the time to think about the ways you could possibly invest your money.
As Warren Buffet said, investing is laying out money now to get more money back in the future.
That is, it’s a long term game and often requires much patience.
Investing in yourself is the best investment you can make but the day you plant the seed is not the day you eat the fruit.
I wish you the best of luck with spending your $1000 wisely.
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