7 Best Ways to Make Money in 2021

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Avatar for BudgetHolics
3 years ago

Here are my thoughts on the 7 best ways to save, invest, and make money in 2021.

To start with, you need to seal any financial leakages. These appear in the form of High Interest Debt, such as Credit Card Debt and Student Loans. Anything with an interest rate of more than 5% should go.

Next, build a safe financial haven with 3-6 months worth of expenses. This way, you are protected from unpredicted misfortunes and you protect yourself from further debt accumulation, and your investments from untimely liquidations.

Commodities are the safest investment of 2021, and have historically been the best hedge against inflation. Before Bitcoin, Gold was the best performing asset of the past 20 years.

The turbulent times of the stock market are far from over, however, stocks are still one of the best assets to look into investing in the following year. Whether you choose to invest in an index fund or individual stocks, there are opportunities for high returns and large gains. Keep in mind, that the higher the potential gains, the higher the risk, hence, the higher the potential losses.

BTC, ETH and other Digital Currencies appear to be the most interesting asset class of the 2020s. With demand for cryptocurrencies rising, and their acceptance as a payment means increasing, and a fixed supply for most of them, it seems that the earlier you invest, the better.

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