Investments you must make in your 20

It is never too early to save and grow your money. Discover how to have an investor mentality from a young age. Your 20 are key to avoid starting the 30 years with debts or economic problems. The money you save now will allow you to pave your future in the medium and long term. Here are some different and unique ways to invest your money (even if they are low amounts).

1. Membership in a gym.

Medical expenses related to problems such as obesity and overweight cost about $4 billion a year around the world. It is well known that this number can be drastically reduced if people take better care of their health. Getting fit in the 20s helps you prevent costly health issues in the future. In addition to practicing outdoor activities such as running, you can sign up for a gym like Smart Fitness that costs $50 per month.

2. Lend money to a microfinance platform.

There are several sites where you can invest in micro companies, lending money to entrepreneurs and winning with fair interests for both parties. For example, there are many platforms on internet that allow both to apply for a loan and grant it. In addition to helping another entrepreneur, you can get up to 16% return with these options that replace financial institutions as intermediaries.

3. A social networking strategy.

It is key that you develop a strategy in social media to identify your brand, but also to position yourself as a professional or entrepreneur. It costs time and money to build a presence on the internet, so it is best to start as soon as possible.

4. Spare parts for keys.

It may seem to you that this is a “ridiculous” investment, but who can say that he/she has never been locked away or outside his/her house, which creates panic and waste time? Taking simple preventive measures, such as always having a spare tire in your car, will help you save money and headaches in the long run. A call to a locksmith can cost you twice as much as having a spare key.

5. Insurance.

Most likely in your 20s you do not have mountains of insurable items or accounts with a mortgage, but you should protect valuable items. For example, you must insure your car or even your bike, your key technological devices for your work, as well as your health. It is also advisable to pay unemployment insurance.

6. Contributions to a retirement plan.

When you’re in your 20s, it seems like it does not make much sense to save money by the time you turn 60. However, there are various incentives to do so, especially if you are entrepreneurial or self-employed, since you will not have an Afore. It is best to invest in retirement funds that not only allow you to save, but to grow your savings.