Despite what you might believe, you don’t need an unlimited budget to invest. You don’t even need to be that well off. With the right planning, tips, and information, you can take just a little bit of money and turn it into a profit.

Of course, if you eventually want a big profit, you’ll have to go big, but that is something that can always come later. Or, who says you can’t stick with making tons of little investments? It’ll be fruitful for the right individuals! You’ll just need to know where to put that money.

Consider A DRIP or DRP

DRIP or DRP is something that is referred to as a dividend reinvestment plan. Sounds kind of fancy and technical when you say it like that right? Sure it does, but what you need to know is that it is basically nothing more than a small investment opportunity that allows you to skip right over the middleman.

You can buy stocks directly from companies without going through an agent. As long as you can afford to buy one share, most programs will allow you to participate. And, even with this COVID-19 hanging over most people’s finances, just about everyone has the extra funds to dole out for one share.

What About Individual Stocks

Most people never pull the trigger on investing because they never can figure out how much to invest. This is completely understandable, especially when you are investing with a small budget. If this is the situation that you are currently in, anyone from Budgetable will tell you that individual stocks could be the very option for you.

This is an investment opportunity that’ll allow you to purchase individual stocks for a small fee of anywhere from $5 to $10 per trade. This is usually something that you can do with discount brokerage firms like E-Trade, TD Ameritrade, Scottrade, and TradeKing.

There is also Loyal3 available that’ll allow you to purchase fractional shares from your choice of over 70 different companies. Even if it is just $10 or more, you’ll be putting it to good use when you invest with companies like AMC, GoPro, and Virgin America.

Mutual Funds Are Always There

Most people on a budget or limited income don’t think about investing in mutual funds. And, this is because there are a lot of them that require a minimum investment in the thousands of dollars range. This is true, but what you might not be aware of is that there are also plenty of them out there that will allow you to make a small initial investment of $500 or less. Someone just recently did a search over at Morningstar’s mutual fund screener and they found over 200 different mutual funds that can be invested in with a minimum deposit of $500.

Try Exchange-Traded Funds

Exchange-Traded Funds or ETFs are always a sound option as well. If you are familiar with mutual funds then you are one step ahead of the game because that’s pretty much what they are. They are a collection of different investments, but the major difference is that they are traded like common stocks on a stock exchange. On top of this, they offer a low cost of entry.

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