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What Is The Best Thing To Do With My Money?

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Yo Kass Profile
Yo Kass answered

There's plenty of things you can do with money - that's why people love it so much.

Buying things is the most common way that people spend their money, but you can also invest it, give it away, or find a tax haven to hide it in.

How much money you have will define what you can and can't do with it, but i'm just going to assume you have a lot of it just to make things interesting. 

What to do if you have a lot of money
 

Invest it

While it might not seem like the most exciting thing to do with your cash, hiding it under the mattress will leave your mountains of money susceptible to inflation and burglary.

Last time I checked, mattresses don't pay interest either.

There are plenty of different ways to invest your money. And when I say plenty, I mean people write books about this stuff.

If you're interested in investing, here's a few topics you could research:

  • National savings & investment
  • Fixed rate savings bonds
  • Corporate bonds
  • Absolute return funds
  • Buying gold
  • Growth funds
Spend it
Spending money is easy, my girlfriend does it all the time - sometimes she doesn't even know she's doing it!

You can spend money in the shopping mall, on the internet, at a flea-market, and at a million other places...

The trick to spending money is to purchase things that'll genuinely improve your life. If you're stuck for ideas, here's a few excellent purchases that other people have made:

Alaska - Russia sold Alaska to the United States for $7.2million - or $0.02 per acre, what a bargain!

Buying an entire state would be awesome, although I'd probably pick somewhere with a warmer climate - maybe Nevada or Florida? 

Antiques- Are always fun to buy, they're like buying a piece of history.

The trick is to buy something that has a cool story behind it.

For example, I'd probably purchase an old movie car - something from a classic Hollywood movie.

The DeLorean from Back To The Future has already been sold for $541,000 though.
A sports teamBuying a sports team is great for so many reasons.

Firstly, it's the ultimate status symbol - all the cool oil sheikhs own soccer teams, and the NBA and NFL have some mega-rich franchisees.

Secondly, you can do something about under performing players:

Whilst most sports fans are left tearing their hair out when their team looses; as the owner of the team, you can take the same stance as most North Korean dictators and condemn sports stars to time in a labor camp if they're not pulling their weight and scoring points on the field.

 

Give money to charity

Generously donating money to a worthwhile cause has three main benefits:

  • It will help people in need.
  • You'll feel better about yourself.
  • Charity donations are tax deductible.
  • Your generosity is likely to impress the opposite sex.
Whatever you end up doing with your money, just remember the people that gave you sound advice along the way!

Muddassar Memon Profile
Muddassar Memon answered
Well there's quite a lot of things that you can do with money, to start of with think about investments.

Investments make your money grow; they also help you secure your future. You can invest your money in a number of things like shares, property, bonds, etc.

You can also fixed deposit your money with the bank for a certain fixed amount of interest rate which you will get eventually when the fixed deposit matures. Investment in general is a term associated money management, and often linked with saving or deferring consumption.

The expression "investment" is applied in a different way in economics and finance. Normally people think about investing their money so that it can help them during their old age or when they do not have a steady source of income.

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