As mothers, we are all worried about the future of our family, especially our children. Of course, we want the best for them, but it can be challenging if you don’t have the funds for it.
We all want our children to go to a good school and eventually graduate and get into a well-distinguished university. But where will we get the $100,000 (average cost of a single degree) we need to get our children to a decent university? That’s a lot of money, and we certainly don’t want to be in debt. Furthermore, what about their daily needs? Their needs and wants?
Investing is the best option for this, even if there is some risk involved in it. However, the investments we have placed on this list are reliable, and these won’t take up too much of your time either so that you have more time to be a mother to your children.
Invest in Yourself
First and foremost, you must invest in yourself. You can’t make any investments if you’re sickly or going through something. You’d be too busy thinking about your anxieties and stress, and you won’t be able to make reasonable investing decisions.
By the end of the day, your money should be going into what makes you feel good or what will make you recover if you’re going through something. If you’re feeling too depressed or worried, then you shouldn’t be investing. Give yourself time, and wait until you’re ready. Once you’ve invested enough time and money in yourself, then it’s time to invest in your strengths.
Invest in Your Strengths
Inherently, when investing in a business, make sure you’re investing in your strengths. For example, if you have always been an avid cooker, consider investing in a restaurant franchise. If you love taking care of children, invest in a child care franchise, and choose to become an interior designer if you like designing homes. These are just various examples of the career paths and investments you can make while investing in your strengths.
Before investing in your strengths, you must identify them first. This can be tough if you’re a young mother, but remember, it’s all about developing that confidence to do it. It’s all about taking that first step into the success that will determine what kind of strength you’ve obtained throughout the years.
Starting a good business is all about investing in your strengths. You will then learn more about how you can improve yourself and your business along the way.
Invest in a High-yield Savings Account
As a mother, we want to have enough money for our family, especially during times of crisis. But problems don’t happen every day, so where do all our savings go? It shouldn’t just be staying in a bank and not growing. Our savings should at least grow a couple of percentages throughout the years. If you want that to happen, then you should invest in a high-yield savings account.
A high-yield savings account is a savings account that can grow faster the more money you put into it, given that you don’t withdraw during a certain time period. The average ROI is between 20% to 25%. It looks good, but this account should only be a part of your investment portfolio, and as a mother, if you want to diversify your portfolio, you want it to go somewhere that isn’t time-consuming. The best option for this is investing in U.S. savings bonds.
Invest in U.S. Savings Bonds
Investing in U.S. savings bonds can diversify your investment portfolio without managing it every time. This is great for mothers who still have to take care of their babies.
A part of your funds should be going into U.S. savings bonds, and depending on what kind of bonds you choose, it will grow throughout the coming years. However, you shouldn’t expect that you’ll have enough money to pay for your children’s college fees from these accounts alone. You’re going to add one more investment into your portfolio, and that is index funds.
Invest in Index Funds
Index funds are stocks, but not the kind of risky stocks you have in mind. This kind of stock consists of many other small shares from big companies, so you’ll never lose money if your one share goes down. So although there is virtually no risk in investing in index funds (unless there is a depression happening), you won’t get as much compared to other stocks out there. However, when combined with other investments on this list, you should have more than enough for a children’s future.
As a mother, we want to invest on things that aren’t too time-consuming, and we want to invest on things we are familiar with. This article consists of all of those things, and it’s a good bundle if you’re looking into getting decent money for your children in 18 to 20 years. However, you should be concentrating on what kind of investment you should make for your children.