If you wish you could get your foot in the investment door, gold is a great place to start, especially now, as the experts predict a surge in gold prices during the first 2 quarters of 2022. If you have yet to acquire the capital for an initial investment, here are a few ways that you can save up enough to buy some gold as an investment.
- Make Money Online – Increasing your income will quickly lead to having enough money to make a small acquisition and there are quite a few ways that you can generate some extra dollars. You could create a shopping cart website or teach English online to Chinese students, or even fill in online surveys or write blogs; the list of online earning opportunities is long.
- Piggy Bank – Start putting all your coins into a piggy bank and resist the temptation to ever delve into this stash and one day, when the container is full, you can bank the money and start again. Little by little, you can amass a few hundred dollars over the course of a year and with cost-cutting measures in place, your precious metal investment will soon be a reality.
- Liquidate An Asset – If you own a car that you hardly use, for example, why not sell it and use the proceeds to make a gold purchase? If you own a second car that never gets used, liquidate that and make a gold investment, which will result in appreciation, rather than the depreciation of a vehicle. If you have stocks or shares, they might not be the safest place to leave your hard-earned money, yet gold has been performing very well since 2018 and the next 12 months are looking good. Start by doing some online research and see where that leads.
- Buy Gold Using Your Credit Card – If, for example, you will have access to some investment money in a few weeks, you could buy some gold bullion on one of your cards and as long as you pay it off within 30 days, you wouldn’t pay any interest.
- Set A Realistic Goal And Timeline – The best way to save money for a specific reason is to set a realistic goal; let’s say you wanted to start with a few small gold Lunar coins, then you are looking at perhaps $1-2,000 and working out how much you can save every month will give you a realistic timeline. Talk to one of the reputable dealers in your area. City Gold Bullion as a gold Brisbane dealer provides information on current spot price for gold bullion on its website and also sells the precious metal at the best price.
Now is the perfect time to start making investments in gold and with the above strategies, it won’t be long before you are ready to make your first investment in precious metals. It is always advisable to take physical possession of gold that you acquire, rather than buying gold EFTs, for obvious reasons. You can rent a safety deposit box or have a concealed safe installed at home.