Several generations ago, people were more comfortable with the concept of simply storing their hard-earned money. Late on, more banks became prolific and owning an account became the norm.
However, as ‘safe’ as those two options seem, they still have their disadvantages. Simply using the old piggy bank method can cause a problem in the circulation of money on the market. While keeping your money in a bank means it has a slow interest rate, your money is safer but not growing.
Thankfully, the trendsetters of this decade, the millennials, are looking to more business-savvy options for their money.
1. Buy house and lots
In bigger cities, especially in the capital, the property can have a higher price But in the Philippines, the promising industry extends past Manila into other provinces. You can find many houses and lots for sale in Cavite and other locations at lower prices. Cavite still boasts its own culture, cuisine, and specialized industry. It’s also not that far from Manila, which makes it ideal for anyone needing to make the trip.
Buying a house and lot in a province gives you a tangible land investment at a much more realistic price. At the same time, once fully paid, that property can be your main residence away from the city. Remember that people will always need land, so buying your own is always a good decision.
2. Try renting out your property
Let’s say you completed payments on that house and lot; what do you do to make money right away? Follow the footsteps of many other property owners by putting your investment up for short-term rentals. Think AirBnB style. You just need to furnish your home with the basics and start posting them online.
By doing so, your property is still making money while growing its value. This is another way not to let depreciation affect the monetary returns you can reap. Just make sure you sanitize your entire home regularly and keep your lot tidy. Your prestige is dependent on your services. That also means your customer service must be superb as well.
To keep your property safe, don’t forget to ask for a safety deposit. If you’re joining a platform that monitors these transactions, they can also help you.
3. Kiosk food stalls
Food is another commodity we’ll never get sick of. Everybody around the world loves it, especially if what you have to offer is a high-quality and delicious one. There is no need for gimmicks or a giant menu. In many successful food parks, it is not uncommon to see that among those that have the longest lines are those who have a curated menu.
By choosing a kiosk setup rather than a full-blown physical store, you can reduce your cost for the build and even make any moves or renovations easier. At the same time, rentals for a spot will be lower.
If you are not confident about your own recipes but know a thing or two about food, go for a franchise. Many franchises offer food kiosk packages. They’ll train you and your team while also providing you with the tools of the trade.
Millennials may represent the big chunk of the current workforce, but no matter your age, you can still cash in on these popular investments to safeguard your money and your future.