3 Nifty Ways to Invest Your Money You Would Never Think Of
Want to be an investor? Here’s the good news: you don’t need a big stash of money in order to get a higher rate return! Thanks to the internet, there are now a variety of choices for those who want a hands-on experience in investing. Here are a few ideas to get you started.
- Solar Power
Depending on the amount of energy you generate, investing in solar panels is a great way to earn cash and save on your electric bill. The initial costs of setting up a solar panel on your home can be expensive but the price is offset by various tax credits, incentives and rebates. And you know what’s even cooler? As of 2012, 42 states in the country passed laws that require energy companies to buy electricity generated by individuals at a retail rate! This means that the excess energy you generate each day is sent back to the grid causing your electric meter to run backwards. And if your power generation is higher than your consumption, electric companies will pay you the difference in cash!
In this investment option, investors pool their money together and use the fund to extend small loans to low-income individuals who don’t have access to conventional banking services. Microfinancing was pioneered by Dr. Mohammad Yunus , Chittagong University’s economics professor. The first beneficiaries of this model were the poor women of Jobra, Bangladesh in 1970. The success of modern microfinancing allowed Dr. Yunus to establish the Grameen Bank in 1983. He also won the 2006 Nobel Peace Prize.
3. Peer-to-Peer Financing
This investment vehicle is an online community-based money lending model. Prosper and the Lending Club are one of the peer-to-peer financing powerhouses in the country today. In this business model, peer-to-peer financing companies bypass banks and connect borrowers and lenders directly. Peer-to-peer Financing offer higher returns to investors and lower interest rates to borrowers than banks.