2020 has been a year fraught with negative developments. Virtually every aspect of life has been affected by the coronavirus, and, understandably, many people are likely to feel upset and frustrated as a result. Indeed, it can sometimes feel as if there’s nothing that the average person can do to have a positive impact on the situation. The good news is that isn’t exactly the case. To that end, today we’ll share four ways that individuals can use some extra capital to make a difference for themselves, their loved ones, and their communities. Check them out here:
Charitable Donations
If you have the necessary income, then one of the best things you can do with your money is to donate it to a worthy cause. And, on that front, there are hundreds –– if not thousands –– of organizations worldwide that could use your support. What’s more, savvy financial players may consider giving a stock donation instead of cash. This could prove massively beneficial for the organization and help you save on taxes at the same time.
Supporting Local Businesses
It’s no secret that small companies have been hit hardest by the impact of the coronavirus. As such, anything you can do to support small businesses in your town could go a long way toward helping them get through this difficult time. Remember, this could include something as simple as patronizing a restaurant by placing a carryout order. You don’t have to be a millionaire to lend a helping hand to your neighbors!
Look After Yourself!
It’s difficult to overstate just how meaningful helping others can be. Yet, at the same time, you should never overlook your own health and well-being. Therefore, don’t hesitate to spend money to bolster your wellness. Whether you need a COVID-19 test or straightforward heel spur treatment, contact a medical professional whenever you need assistance. Waiting to address a problem can lead to further complications down the line!
Invest
Understandably, many investors have been wary of putting significant capital back into the stock market after the last few months of volatility. However, the truth is that now is a potentially excellent time to increase your investments and to explore new investment opportunities. Not only do fledgling companies need investors like you to jump on board, but doing so now could help set you up for financial security for years to come. So by extension, you’ll end up having more available capital to help yourself and others in the future.
Conclusion
At the end of the day, you shouldn’t be afraid to spend money despite these difficult times. Doing so could really help out others –– as well as yourself!
Disclaimer: This content does not necessarily represent the views of IWB.