If you live in Australia and are looking for something to do with your extra money, investing your money could be a great direction to go in. It can help you to transform a bit of extra money, into a more sizable sum.
Put your money in a saving account
Saving accounts allow you to earn interest on your money. It can take a long time to gain a lot of interest, but until you know what you want to do with your money, it is better than leaving it in your current account. Some banks may even offer incentives to encourage people to put money into saving accounts.
Invest in property in the UK
Investing in property can be great, but investing in property overseas or in the UK can be even better. The pound in the UK is strong and owning property there can be a good way to make a passive income. You could use it as a rental property to earn money, or sell it at a profit when property prices increase. When you are sending money from UK to Australia, make sure that you get the best deal possible.
By buying a share in a business, you are purchasing a small piece of that company. When the company does well, the value of your shares will increase, and you could choose to sell at a profit. You could also receive dividends from the company. However, share prices can also fall, so you are taking a risk when buying shares.
Online eCommerce Businesses
With such a strong and growing online marketplace, most Australians also invest in online stores. Being relatively close to countries such as China means they can source products and a cheap price to resell online.