If frugal living is part one of what we do and looking for alternative sources of income is part two, then what about part three?
Which is to say, you can do whatever you can to spend less and then to earn more – but what do you do if you want to give it that little nudge on your way to a better life?
Most of you have probably realized, or at least heard, that just saving is not enough if you really want to grow your finances. As Robert G. Allen put it: “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
So if saving is not enough, what is one to do?
It may be time to start investing
Two things can go wrong in the mind of some people reading the statement above.
On the one hand, it can be seen as boring for some type-A, daily grind, 10X your results crowd.
For them, investing is the language of “too slow”, of basking in what you have already achieved and not really trying anything new. This, of course, is nonsense.
You can go after a new deal or a new business (or even a side gig) for extra income. But why would you even not consider making that extra income grow?
On the other side of things, it can be too out there. “Investing?”, they may think. “That is for people with suits and trust funds”.
While there may be some truth to this for certain assets, the fact remains that investing has never been so accessible and more easy to do in your day-to-day.
It’s easy to get started with Iban Wallet.
There are many options available to the beginner investor. But for today, we will focus on one of the most user friendly options I’ve come across.
Iban Wallet is a european Fintech company that operates a digital marketplace for financial products. As far as investments are concerned, they act as an intermediary to the lending process, connecting investors with borrowers through different loan originators. You can learn all about it here.
To get access to all of the available products, you first need to sign-up, which will result in you opening an Iban Account – the starting point to everything.
And why is it easy to get started with Iban Wallet? For two reasons, mainly.
It’s easy – reason #1
First of all, there are very little barriers for entry for any kind of investor, from big to small. This is because:
- You can start with only €1/$1; and
- There are no commissions or service fees to eat away your returns.
This alone opens access to investing greatly, as in the past most investments would have requirements that would make it not even worth thinking about for a lot of people.
And the Iban Account provides some other nice attributes to make it more pleasing to both your eye and your funds:
- A projected 2.5% AER;
- Returns updated daily in you account;
- Possibility to request withdrawals at any time.
It’s easy – reason #2
Not only is it very easy to be eligible to open an Iban Account, the platform itself is also very easy to operate.
Setting up is no more than a few minutes long, and you can be on your way to investing in no time.
You will have to provide some personal data, along with official documentation so that they can confirm your identity, but it is all very straightforward. Just make sure that you read everything and that you submit your documentation with good quality.
And you are all set!
From here on, all you have to do is kick back, relax, and watch as time helps you generate returns on topped up funds.
You can also access other investments that give you up to 6% AER, but have other time and capital requirements.
And to finish up, you can also refer Iban Wallet to your friends and family, which can get you up to €/$250. How nice is that?