Having Ksh.5,000 means different things to many. To some this is mire daily upkeep money, to others this is a lifesaving pocket money, to some this is their tithe while to others this can mean the capital they need to start a business or make an investment.
With Sh.5,000 at hand, we take a look at some of the best ways you can grow the money and built your empire. Investing wisely is key to the success of your investment and where you invest will determine whether you will get some returns or losses. Here are some of the ways you can grow your Sh.5000.
How To Invest Your Sh.5000
Start a Business.
There are quite a number of business ideas that do not need a lot of capital to start. Now that Sh.5,000 is not enough to rent a shop and start a business, think of doing it in a different ways. You can begin by selling products and offering services at the comfort of your home. With the heavy presence on social media, you can let the world know what you are offering and how clients can reach you.
Open a fixed account
Some financial institutions allows you to open a fixed account with as low a Ksh.5000. Currently, even mobile money platform like Mshwari offers such services. Over time, your money will earn you a substantial interest. If you are patient enough you can reinvest your interest earned into your fixed account so as to increase your profit scoop.
Invest In Stock market
The minimum number of shares you can buy on the stock exchange is 100. As long as you are buying shares that you are trading below Sh.50, you can invest. There are actually many fundamentally strong companies that are trading below Kes 50 at the moment that you could actually be accumulating ownership in with this Kes 5,000.
Also Read:10 Ways To Make Money Online
You can Invest through table banking
This is one of the best ways to gain a lot of money over a short period of time. If you have at least 10 friends with the same idea, you can come to give equal amount of money then loan it to 1 group member on rotational basis. Imagine growing your Sh.5,000 to Sh.50,000 in a short period of time. This is a good capital to invest in your business.
You Can Invest in Treasury Bonds
Whereas the minimum investment in a treasury Bond is Ksh.50,000. There are flexible ones like M-Akiba that requires an investment of as low as Ksh. 3000. Depending on the rate offered at the time, this bond will be able to earn you some interest every 6 months. Treasury bond is one of the best way to go for a long term profit.