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5 Great Ways Of Reinvesting Your Betting Income

Updated: Aug 25, 2020

DISCLAIMER: We're not a financial advisor. We're just giving our own ideas that you can go and look into further, but refer to or @FinsiderLtd on social media for more info or finance knowledge.

Also, never take the profit for granted and don't expect it to last forever, because circumstances may change for the worse, always be prepared for that to be the case.

Anyway, once again the profit you make on a monthly or weekly basis will be completely dependent on you. But it's very reasonable to argue that you could generate at least 100 a month, even to make this weekly isn't too much of a hard feat.

If you put this income a side, as if it didn't exist, you could put this money into so many different investments or passions:

1) Property - You could put this money towards a mortgage either on your own house or on an investment property. You could buy a house up North (UK) that for property in the UK is relatively cheap and yet it'd probably yield you higher rental return than that of a house in London or of a big city, whilst not being as indebted (e.g. £50,000 compared to £500,000 debt) This £400 a month could allow you to build the initial deposit in a year or two, or even pay off the monthly mortgage, despite the rent from the tenants more than paying it off for you.

2) Stocks and Shares ISA - You can invest up to £20,000 a year tax free into stocks and shares through a Individual Savings Account (known as an ISA which differs mainly in that you don't pay tax on the interest gains made, whereas you do with a current account) So you can put money every how often into your own selection of stocks, building a portfolio without incurring taxes within that annual £20,000 threshold.

3) Monetising Your Passions/Ideas - Build up cash reserves that you could funnel into investing in a passion of yours or an idea you may have that you see has potential to generate profits. Without savings, you probably either won't last long or you won't be able to dedicate the resources (including intangible ones such as time) required to start or scale a good quality business, let alone innovate. Don't limit yourself by being financially ill-equipped.

4) Utility From Life - This may be a controversial one but I think one needs a balance in life, which means work hard and rightfully - play hard. For everyone, their type of playing might be holidays, extreme activities, spa's etc. which all cost money. Even relaxation, having the liberty to quit a job because you want to take time off to travel or chill costs you money as you're not earning.

The moral of the story is this extra income could be invested in your own personal happiness and health, keeping you working at a more sustainable rate. At the end of the day, health is more important than wealth right?

5) Simply Saving - This ties into all of the others already mentioned it's the core facilitator. Accumulating savings gives you so much liberty to do whatever you like in life, whether it be: invest, buy a house, take time off work if necessary, buy a car etc. Of course it all depends on the size of your savings, but building them regardless will always give you the upper hand compared to if you didn't.

It affords you the ability to do so much more and achieve much more growth in almost every aspect, granted you're disciplined and willing to learn from just doing - literally just go and start something, whatever it may be (within reason) I can guarantee that you'll learn something new.

#schoolyear #backtoschool

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