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If you have less than £500 but you are still looking for a great investment opportunity, it’s important that you know what some of your choices are. There are a lot of different investments that you can make, but not all of them are going to provide you with the kind of return or level of risk that you want.

DRIPs or DRPs

A DRIP or DRP, also known as a dividend reinvestment plan, is a small investment option that will provide you with the chance to purchase stocks directly from companies without having to use a broker. These programs will allow you to participate if you can afford to purchase at least a single share. DRIPs can be potentially lucrative, so you will therefore want to take the time to look into them before making a final decision.

There is dollar-cost averaging, which allows you to invest a specific dollar amount on a monthly basis. When you invest your money regularly, you will essentially be buying during all points of the market, both when it’s up and down. You will get more representative return over time, which means that the average cost per share represents the prices when it’s a bull market, the lower prices when it’s a bear market.

Individual Stocks

Those who want to invest but don’t have a ton of money to do so will find that investing in individual stocks might just be the way to go. Loyal3 will allow you to purchase fractional shares from your choice of over 70 different companies. Regardless of the price of the shares, you will be able to purchase as little as £10 of stock in major companies like Virgin America and AMC. It is very important that you take the time to look into some of your stock options so you can make the right investment choices.

Mutual Funds

While it’s true that there are a lot of mutual funds that have a minimum investment amount in the thousands of dollars, there are many other mutual funds that you can get in on for £500 or less. Performing a quick search through Morningstar’s mutual fund screener came up with 200 unique funds that you could invest in with just £500.

If you are looking for an investment opportunity that is even a little bit smaller, there are still hundreds of mutual funds from TD Ameritrade that only require a minimum of £100 to invest. It is important that you keep this investment opportunity in mind, as it could be the right one for you. The fact is that mutual funds are a great investment option for those who are just getting started.

Exchange-Traded Funds

You will find that exchange-traded funds can also be a great investment option for those who are looking to make a relatively small investment. ETFs are similar to mutual funds in that they have a collection of various investments. Part of what makes ETFs unique is that they are traded like common stocks on a stock exchange, and they don’t cost very much to get in on at all.

You can purchase an ETF for the cost of just one share, which makes it a great opportunity if you are looking for an investment but don’t want to spend a ton of money. If you are able to invest for the long haul and put up with the rollercoaster, this is definitely an opportunity that you should think about.

Start your own Business

One of the best investments that you can make is starting your own business. Whether or not it’s a good investment will of course depend on the type of business you plan on starting and how you run it, but there is a lot of potential. Even those who don’t have the £500 to start a business can start smaller with less; you just have to get creative. In the end you might just be glad that you decided to do this because of how lucrative it can be. You will be your own boss and make your own hours, so you won’t have to answer to anyone anymore. A lot of people love running their own business, but it’s a lot of work.

If you want to remain on budget at all times so you don’t have to struggle with money, it’s important that you follow these tips. This article will teach you how to becoming a lot better at staying on track with your budget so you won’t need to worry if an emergency expense comes up suddenly.

Focus on your Savings

The key thing to remember when it comes to staying on budget is to focus on your savings. You will need to make a point of saving up money wherever and however you can, and you will be very glad that you did so later on. The more money you save up in your savings account, the less stressed you will when you need to pay for something unexpected in your life.

Always use cash whenever possible

One of the more effective ways of staying on budget is to make sure that you pay for cash whenever possible. When you take out cash from the ATM to pay for things, you will a lot less likely to spend too much money. If you find that you have a problem with overspending when you go shopping, you will definitely want to try doing this. It’s a lot easier to spend too much money when you are using plastic to pay for everything.

Cut out the Bad Habits

If you have a bad habit of drinking a little bit too much or smoking, you will definitely want to consider giving up these things. Once you give up smoking and/or drinking, you might just be surprised at how much money you are going to end up saving over time. You could save hundreds or even thousands of dollars each year. Use the extra money that you save towards a vacation or just keep it in your savings for a rainy day.

Make everyone Responsible

You will want to make sure that everyone in your household is responsible for staying on budget. It is very important that everyone participates in doing this, because otherwise it just won’t work. If one person in your household doesn’t do all of the things they need to, the budget won’t hold. You should make it clear to your spouse that they need to adhere to the budget too.

Get your Debt Down

Make sure that you are getting your debt down as low as possible, because otherwise it’s going to be extremely difficult to stay on budget. The less debt you have to deal with, the better your chances are going to be of keeping to your budget very effectively on a regular basis. Make sure that paying off your credit cards and any other sort of debt you may have is factored into monthly budget until it’s all paid off.

Always keep your Receipts

One of the biggest mistakes that people make when it comes to personal finance is to not keep the receipts they receive from store clerks. Whether you are buying a new pair of shoes or getting some gas, it’s always a good idea to keep your receipts. You will be able to use these receipts to establish exactly how much money you are spending on a regular basis. Keeping track of how much you are spending and where can most definitely help you with adhering to your budget in a big way.

Analyze your Spending

Take some time to analyze your spending so you can see if there is any room for improvement. The fact is that most people can improve their spending habits, so you will want to take a long hard look at yours. The more time you take to analyze your spending, the easier of a time you will have improving it in a big way.

All of these methods can be extremely effective when it comes to staying on budget at all times, even when things get tough. It’s important that you know how to do this, because otherwise you could quickly wind up in the poor house. If you want to have enough money in your checking and saving accounts at all times, you will certainly want to make a point of following these tips.