Having a spending habit is a difficult mental addiction to break. Some people do not feel good unless they are spending money on a daily basis. If you know that you need to break your spending habit in order to save or in order to have money for better purchases, you will need to invest your money in a place aside from your checking account. If you are not sure what do to make sure that you are unable to spend extra money, you should make your cash not liquid. Investing is one of the best things to do with extra cash, as it can make you money and stop you from being able to waste. Here are three interesting places to invest your extra cash to stash it away.
Invest in internet coins
Internet creditcoin systems are some of the fastest growing currency. While you can technically spend them, it is much more difficult to spend these than regular cash because you must jump through hoops. Internet money coin systems are also considered investments because they can increase in value past what you paid for each coin. If you are interested in technology-based investments, you should invest in this money service with your extra cash.
Join the board of a startup
Businesses that are constantly looking for investors and extra cash are startups. Startup companies happen in all fields, from internet technology to hair supply stores. Most startups are running on a bare bones budget until they find proper investors. Find a startup that you believe will be successful based on their figures, market research, and your personal intuition. Invest money in the startup and become a board member. Since investors are paid back, you will find that you can make plenty of extra cash by putting your extra to good use.
Purchase certificates of deposit
A certificate of deposit is an old school method of saving money, but it works well in current times. Now, you can research current interest rates and chase down the highest interest rate for your certificate of deposit. In this type of investment account, you will place a certain amount of money in the bank and not withdraw it until the time of maturity. A certificate of deposit is low risk, as you will not lose your money, but only grow it because it is insured. Having a bank hold on to your money until you are able to withdraw it is a quick, easy, and careful method of keeping your hands off extra dough.