UAE: Here are 5 smart tips to invest when you’re running low on cash and make money!
Barely earning any money doesn’t necessarily count you out of the investment world
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2 MIN READ
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How do you put money into any investment if you don’t have any?
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Commonly mistaken understanding is that it takes money to make money.
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Barely earning any doesn’t necessarily count you out of the investment world
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Before one can move into the seemingly complex world of stock market investing, best to revisit and have a better grasp of the basics.
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You always need money set aside, which can be done by setting up a savings account.
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Having a savings account also considered widely as a small investment in and of itself since you’re earning interest.
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Diversification with low costs: Exchange-traded funds and mutual funds are attractive investment options.
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Investors who invest in ETFs are often seen moving onto mutual funds next.
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ETFs, like stocks and bonds, can be bought and sold on the market in the same day.
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Getting hold of penny stocks, they are much like they sound like — inexpensive stocks.
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The perk of starting stock market investing with penny stocks is that you learn the market basics.
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Trading penny stocks is often seen as more a short-term strategy.
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You could always start out with auto-investing apps.
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There are applications that offer automatic investments of your spare change.
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How do micro-investing apps work?
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In the UAE, apps like Sarwa and Wahed Invest use every amount you invest and diversifies it across stocks and bonds..
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If you are low on extra money and hoping to invest in the market, keep a look out for low-fee brokers.
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There are many mobile apps that lets you avoid high fees and take advantage of free stock trading.
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Keep in mind that not being rich doesn’t leave you out of most investment opportunities.
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