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4 ways to make money while you sleep


The idea of your money working for you with minimal input is touted by tech-entrepreneurs and millennials as the holy grail of modern financial freedom. But is it really possible to make money while you sleep?  The short answer: yes. Here’s how.

1. ETFs

For a low cost, highly diversified option you can’t ignore exchange-traded funds (or EFTs). EFTs are bundled security investment funds traded on stock exchanges – just like ordinary shares – that make accessing markets and assets like currency, debt, derivatives and commodities even easier.

You trade and settle EFTs just like ordinary shares, but your money is automatically diversified over specific indexes.  This saves you time, lowers your risk and can make you money without even thinking!

2. Micro-investing

You know those tiny amounts left over from your daily purchases? Like when you buy groceries for $67.65 instead of $70?  Well, investing these micro amounts by rounding-up, or setting up automated weekly or monthly recurring investments from your spare change, has a name: micro-investing.

FinTech companies like Raiz make this process even easier by allowing customers to micro-invest the remaining round-up of everyday purchases into exchange-traded funds (see point above) via their app.  You can choose between rounding up, recurring payments or lump sums that the app then invests for you. It couldn’t be easier!

3. Smart savings

Automation isn’t just making investing easier, it’s making saving easier too. Some savings accounts now offer an automatic round-up option (ING, we’re high-fiving you) that allows you to automatically round-up your purchases and redistribute that amount into your existing savings account or your home loan account, depending on your financial goals.

For example, if your petrol costs you $76.50, you can choose to automatically round-up that purchase to $80 and that $3.50 difference is then added to your savings or paid off your home loan. It’s a simple way to stack money without giving it a second thought.

4. Super

In the world of exciting new investment technology, Superannuation isn’t exactly sexy, but it is effective when it comes to forced savings. Making voluntary super contributions has many benefits, including tax concessions and compounding interest that create more money for your nest egg, so it’s not one to be dismissed. But remember, when you invest in super your money is untouchable until retirement age, so consider that before going all in. Check out our post on 4 easy tips to boost your super.


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Our response to limit the spread of COVID-19

  • As COVID-19 continues to spread, we would like to take a moment to let you know what Financial Spectrum is doing to respond.

    While we haven’t been directly affected with any confirmed cases, we are taking all reasonable precautions to remain safe.Our priorities are:

    1. Keep our staff and clients safe
    2. Stay fully operational in our service delivery and continuing to manage your financial affairs
    3. Play our part in minimising the impact on our community against the spread of COVID-19

    Financial Spectrum has the technology, infrastructure and systems to continue business as usual remotely and our staff will now be working from home.

  • You should notice no change to our service, with the exception that we are encouraging our clients to meet via video call, rather than face to face, unless requested. We will be contacting all clients with meetings booked over the next two weeks with instructions for a video call.This is an evolving situation and we will continue to monitor developments. We will keep you informed of any material changes to our approach.

    These are unprecedented times and we understand that many of you will be feeling unsettled about your finances. We would like to assure you that we are open for business and are here to help you. If you don’t have a meeting booked but would like one, or if you have questions, please contact us at info@financialspectrum.com.au or on
    02 8238 0888

Brenton Tong

Managing Director

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