It’s so easy to spend surplus cash on new outfits, drinks with friends, and the luxury of home-delivered meals. While it’s important to treat yourself, it’s also worth thinking about your future self and the life you’d like to have. Invest even a little bit now, and through the beauty of compound interest, you can be setting your future self up for a life of financial freedom. Here are six of the best investments to consider: 

1. Your Superannuation

If you have a self-managed super fund, it’s definitely worth speaking to SMSF Accountants who can help you ensure you’re getting the most out of your investment. For those with an industry fund, you can get advice directly from the fund or from a financial advisor. Over time, you will understand just how drastically the small choices you make now can affect your financial future. 

2. A high-interest savings account

Do some research and find the best high-interest savings account on the market today. The top performers change regularly, so it’s worth checking regularly to confirm you’re still getting the best deal. 

Though yields are typically lower, this is risk-free, reliable way to create an emergency fund. Your savings will accrue a bit of interest while offering a buffer in case any unexpected expenses arise. 

3. Dividend stocks

With dividends, you’re stepping into slightly riskier territory. However, if you choose well, you’ll have an investment that’s growing over the long-term while also giving you regular (usually quarterly) payouts. This means both your current and future selves get to enjoy the benefits of the investment. 

4. Nasdaq 100 index funds

Nasdaq 100 index funds give you a diverse portfolio of some of the world’s most successful and stable companies. These giants, like Apple, Microsoft, and Amazon, may face challenges and fluctuations, but even when they dip they tend to surge back stronger than ever. In addition to this, Nasdaq 100 index funds offer the kind of diversification that prevents your portfolio from being dragged down by any single company. 

5. A side business

Though your job can certainly pay the bills, few people gain financial freedom from their 9-5 gig alone. If you want genuine stability in your future, then investing in a side business based around one of your passions is the way to go. 

In today’s digital world, it’s often possible to start a business with little more than a laptop, phone, wireless connection and virtual office service. Eventually, after you’ve followed the rollercoaster learning curve that is starting your own business, you’ll have some exciting options on the table. Maybe you want to quit your job and focus on the business full-time? Alternatively, perhaps you want to sell it and invest the proceeds in a new venture. The one certainty is that you won’t have these options in the future if you don’t get started in the present.   

6. Yourself

One of the best ways to arm yourself against the uncertainty of life is to invest in developing your skills. This is why so many billionaires and millionaires have gone bankrupt more than once yet bounced back – they had the knowledge and skills needed to successfully start from scratch. 

If you have some cash to play with, why not invest in a new qualification, a personal trainer, Martial Arts classes, or whatever will further your development? It’s basically like installing an upgrade for your future self. 

By investing in the options above, you’ll set yourself up with additional income streams that your future self will thank you for.