Jasmine Birtles explains how to start investing in the things you’re really passionate about
Grow your savings by buying something you love?. Imagine making money from something you love – something that you’d happily own even if it wasn’t valuable. It sounds too good to be true, but is it? When we think of ‘investing’, we tend to think about shares, bonds and pensions, all of which can make you a lot of money if you do it right, but they’re not exactly beautiful. There are, however, much more attractive options that are classed as investments and, in some cases, can grow in value higher and faster than shares.
Luxury handbags, designer clothes, art, furniture, toys and more are known as ‘passion investments’ and can be potential money-earners for you if you choose the right ones and look after them. In fact, the Knight Frank Luxury Investment Index, which tracks the value of 10 passion investments, increased by 16% during 2022. Collecting luxury objects can be a great way to diversify your investments, too, once you have a pot of money in pensions, stocks and shares. Their value often goes up and down in an opposite way to the more traditional investments and, in some cases, they can act as a hedge against inflation.