Where to invest $500 in ASX shares right now

Looking for investment options? Here are three top picks for the month.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Investing $500 might not seem like much, but it is more than enough to get started in the share market.

In fact, small amounts invested consistently can compound into something meaningful over time. The key is focusing on quality ASX shares with strong long-term potential, rather than trying to chase quick wins.

Here are three shares that could be worth considering with $500.

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.

Image source: Getty Images

Breville Group Ltd (ASX: BRG)

The first ASX share that could be a smart option is Breville Group.

Breville has built a premium brand in kitchen appliances, with products that are recognised globally for quality and design. But what makes the business particularly interesting is its international growth story.

A large portion of its revenue now comes from overseas markets, especially the United States. This gives Breville exposure to a much larger customer base than the Australian market alone.

At the same time, the company continues to innovate and expand its product range, helping to maintain its premium positioning. This is particularly the case in the growing coffee category, where Breville is a market leader.

Overall, Breville offers investors exposure to a global consumer brand with long-term growth potential.

ResMed Inc (ASX: RMD)

Another ASX share to consider is ResMed.

ResMed operates in the sleep apnoea and respiratory care space, providing devices and software that help patients manage chronic conditions.

What sets the company apart is its recurring revenue model. Once a patient starts using a device, they often continue purchasing masks, software, and accessories over time.

There are also strong structural tailwinds supporting the business. Sleep apnoea remains highly underdiagnosed globally, and awareness continues to grow. In fact, there are over 1 billion sufferers worldwide according to ResMed. But most aren't aware of their condition.

This means that ResMed potentially offers long-term investors a combination of defensive healthcare exposure and steady growth.

TechnologyOne Ltd (ASX: TNE)

A third ASX share that could be a strong option for the $500 is TechnologyOne.

It provides enterprise software solutions, primarily to government and education sectors. Its shift to a cloud-based model has transformed the business, increasing recurring revenue and improving margins.

One of the most appealing aspects of TechnologyOne is its consistency. The company has a long track record of delivering steady earnings growth and expanding its customer base.

It is also growing internationally, particularly in the UK, which could provide another leg of growth in the years ahead.

For investors looking to build wealth over time, TechnologyOne could be worth considering, especially after recent share price weakness.

Motley Fool contributor James Mickleboro has positions in ResMed and Technology One. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed and Technology One. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

Purple tech growth chart.
Growth Shares

2 wonderful ASX All Ords stocks I'd buy today

These stocks could deliver great returns. Here’s why…

Read more »

Cheerful man in a orange shirt standing in front of an audience holding a tablet and using hand gestures to interact with the audience.
Growth Shares

3 amazing ASX growth shares that continue to stand out

Looking for growth options? Here are three to consider.

Read more »

Person pointing finger on on an increasing graph which represents a rising share price.
Growth Shares

2 ASX shares tipped to grow at least 50% in the next 12 months

These stocks could be some of the best ones to own today.

Read more »

Scared looking people on a rollercoaster ride representing volatility.
Growth Shares

What's driving the wild swings in Telix shares?

The ASX biotech stock offers high-growth potential, but it comes with volatility.

Read more »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Growth Shares

3 stellar ASX growth shares to buy now with 30% to 70% upside

Analysts have buy ratings and lofty price targets on these shares.

Read more »

Person using a calculator with four piles of coins, each getting higher, with trees on them.
Growth Shares

2 ASX shares that I rate as buys today for both growth and dividends!

These businesses have plenty going for them. I’m calling them buys…

Read more »

Two excited woman pointing out a bargain opportunity on a laptop.
Share Market News

NextDC shares rocket 27% higher: Buy, hold or sell?

Can NextDC shares keep climbing higher, or have they now peaked?

Read more »

A woman on a green background points a finger at graphic images of molecules, a rocket, light bulbs, and scientific symbols as she smiles.
Growth Shares

3 exciting ASX shares you won't want to miss out on

These ASX shares are not just growing. They are expanding into much larger opportunities.

Read more »