2 best ways to invest $1,000

by | May 4, 2017

If I had a dollar for every time someone asked me “what should I invest in?  I only have $1,000”, I’d have enough money to buy a new rental property.

shortly after this photo someone came up to me and asked me that exact question

In this post, I’m going to answer that question.
These answers are not only based on my years of experience helping people with finances, most importantly, these answers are based on what the Bible says.
Here they are:

1) PAY OFF YOUR CREDIT CARDS

source: linkedin.com

In Romans chapter 13, God tells us to owe nothing to no one.  In Matthew 18:34, we see that a man is put in prison and tortured because he is in debt.  The Bible is pretty clear — do not get in debt.
Typical credit card interest rates range between 20 and 30 percent.  So, paying off a credit card can instantly give you a 20%+ return on your money.
But it doesn’t stop there…
When you’re paying interest on credit card debt you’re giving away money that you could be investing and earning interest.
For example, if you paid just $1,000 in credit card interest instead of investing that money in Apple stock in 2010, you would’ve given away $1,000 plus an additional $2,430.
You’re probably wondering where the $2,430 comes from…

source: billauxier.com

$2,430 is the interest you would’ve earned on your $1,000 from the growth of Apple stock between 2010 and now.
This is how credit card debt can literally rob you.

2) MAKE A WISE INVESTMENT

There are countless ways you could invest.  Very few are actually wise investments.
You can always find someone that thinks they know the next big thing.  Everyone swears they have a tip or trick that will lead to fast money.
But you must beware of these people that try to present you with get-rich-quick schemes.  In Proverbs 13:11 it says, “wealth gained fast will disappear, but wealth gained little by little will grow.”
Think about it…
There was a whole show about lottery winners who ended up broke.
A wise investment is based on research and understanding.  If you don’t understand investments you should find someone you trust and get advice.
A wise investment is based on research and understanding.  If you don’t understand investments you should find someone you trust and get advice.
Here’s a little advice based on my own research.  If I only had $1,000 and wanted to make a wise investment, I would invest it in Amazon.

source: thehonestbison.com

Here’s why I recommend Amazon:
1) Amazon has an industry-disturbing business model
2) Amazon has very low debt
3) Increasing revenues year after year
4) Very high profitability
This is my recommendation today based on the information I know today.  Businesses change overtime and so does my opinion.
I encourage everyone to understand the business before investing your hard earned money.
If you’re serious about improving your knowledge of investing I encourage you to take some time to watch Bible Money Makeover.  It’s a FREE 3-part video series.  Click here to start learning how you can boost your credit score, increase your income, and build your investment portfolio.

Here’s a legal disclaimer I have to give you: This blog is a resource to be used for educational and informational purposes only. This does not take the place of professional financial advice.  No information on this blog creates an advisor-client relationship between us.  If you’d like to get professional financial advice visit Greenfinancialsolutions.net or give me a call at 424-253-6486.

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