In our Indian societies, the females are famous for saving up their hard earned money. They always have a Kuber Ka Khazaana hidden somewhere in the house. They keep on saving small amounts and one day these small savings amalgamate and give her an assurance of a sound future. Today, we have decided to give you some options to take out your hidden money and put it to a better use. If you are the active earning hand of your family or the one who has the power to save, in both the cases you can use some investments to increase your idol money. Since there will be no returns on your money for being locked up in a locker, we have decided to list all the options where you can invest. These investments will not only keep your money safe, they will also give you returns. Apart from your consistent contribution, the interest will also get added to the returns. Let’s dive in to know more about the investment options you have.
This is an option which is mostly for short term investments of say two or three years. For the women who have just started to earn and have a goal to fuel their studies further, or have to save up for their marriage, have this option which is absolutely safe and has no capital losses. For any near sighted purpose one should never select an investment where there is a chance of losing the principle amount. The interest might be low but since the term is minimal, you have to make sure that your investments are safe. Alternatively, you can chose the Hybrid bank accounts which will give you more interest as they convert the amount above a certain limit say INR 20,000 into an FD and keep the rest safe for you in liquid cash.
Recurring Deposits is the deposit with any bank or post office which you can avail if you find yourself saving atleast a fixed specific amount every month. You contribution to the RD will keep occurring till the time the term of your RD ends. When the term ends Viola! You will have a supremely large amount saved up as the interest gets compounded quarterly and you get interest on interest.
Systematic Investment Plans
When you have a very stable source of income but the amount of savings is not very huge, you can choose SIP’s. SIP’s are best suited for long term. These are the calculated risk Systematic Investment Plans wherein you invest your money in a diversified portfolio so as to earn maximum returns with minimum risks. You can contact your financial Advisor for any SIP Mutual Funds or these day many websites offer the investment assistance for free as well.
Since we are born in India, Gold is a major investment we all make. But while buying jewelry every time, we end up paying very high making charges like INR900 per gram. Instead of paying the charges to mould gold into jewelry, why not purchase bonds which will act as the same. Gold bonds are traded at the current gold prices and just think, you will be able to buy more with same amount of money as you are not paying the making charges.
Being a woman, you are capable of making your own financial decisions, irrespective of being a house wife or a working member of your family. Loose the age old rule of saving up what is left after you spend. Make a new rule that you will spend whatever is left after saving.