Make Money with Money : How to Grow your Money?
Grow your Money! The concept may not digest easily for everyone. But it is true.
Through investing, you can make a way to make money with your money. Ofcourse, first of all you have to earn money. Try to save some money. By investing you will make your money work for you and it will grow by itself.
Why Should I Invest?
There are two reasons why you should invest:
- To stay ahead of inflation
- To achieve financial goals
Inflation causes the increase of prices. When the price of rice goes up from Rs 5.00 to Rs 20.00 or when petrol prices goes up from Rs. 25.00 to Rs. 50.00 a liter, we can say that is inflation. You need to make more money to keep up with the rising cost of living in India.
Your salary or your bank interest may not be growing as per the inflation. This brings you finally to a difficult situation, where your income and expense may not balance.
Do you have a Financial Goal?
Some of you may ask, what is a Financial Goal?
Financial goals can be separated into two types:
- Short-term goals – Certain things that you need or want now or within the year, such as a bike, a computer, or a new television. Generally, it takes less money to reach these short-term goals.
- Long-term goals – These are things that you need or want in a few years or more, for example, your child’s educational expenses, buying a house and even starting a business. Generally, these goals are expensive and require some planning.
When Should I start Investing?
The earlier you start investing, the sooner you can reach your financial goals. Investing money is like “planting” money. A small amount of money invested will often grow to a larger sum over time.
You’ve heard the phrase, “Time is money.” With investing, time also makes money.
What are the Risks in investing?
Even though investing can make money with money, the negative aspect of investing is that there is a risk of losing your money.
Remember, the key to investing is to minimize the risk and to maximize the financial rewards. For this reason, it is important to understand the many ways to invest money. Or you can approach a certified / qualified financial advisor.
Most of the banks in India provide professional financial planning advise for Free.
Recommended Read :
- A Simple Way to Learn Investment Basic Concepts
- How to Become a Successful Investor?
- What is Investment Portfolio?
- Why should We Invest?
- Risk Management in Investments
- Top 5 Investment Options in India
- What is Portfolio Diversification?
- What is Financial Planning?
- What is Wealth Management?
- Ranking types of Investments - Based on Risk
- Basics of Financial Planning
- Gold Investment is it a Stupid Idea
- Types of Gold Investment
- What is The Tax Impact On Gold Investments?
- How to Become a Successful Real Estate Investor?
- How to Find Hotspots in Real Estate Investment?
- Things to Know Before Starting Real Estate Investment
- Why Should We Invest in Real Estate?
- How to Invest in Bond?
- How to Invest in Debenture?
- Secrets of Making Money From Bond Market
- How to Select The Best Bonds for Investing?
- How to Make Money By Trading Bonds?
- Is Life Insurance a Part of Investment
- What Does Guaranteed Return Mean?
- What are Fixed Income Investments?
- What is Buy and Hold Investment Strategy?
- Investment Strategies
- What is a Financial Savings Scheme?
- Short Term Investments Types of Short Term Investments
“A penny saved is a penny earned” Since time immemorial we have been listening to this saying, and yet it never goes out of fashion. Being a student, saving money was never on my list till the time i realized that the more I save, the more I get to spend. I always thought that one should have a large amount of money in order to invest. But this was a mere misconception. I started investing through recurring deposits that gives you an option to deposit as low as Rs.500. So investments are for everyone. The sooner you start, the habit of saving becomes stronger and it becomes easier to grow your hard earned money.
This is an easy way to grow your money without having 2 or 3 jobs. It takes a little more effort if you have a low income but at the end, you will have enough money to go to the next step: looking something to invest in. Is not an easy task to do but if you choose wisely always keeping in mind the risk that takes investment.
Financial investments is a part and parcel of today’s life. If one needs a secure future, investment is a must. It could just be a simple fixed deposit or bond. But it is a guarantee that your money will grow. Earlier you start, better the returns. You could choose between a safe investment or a risky one. And as suggested in the article, if confused always ask for advice.
This blog is really the hand guide for investors like me who are the fresh on the market! This one clearly tells the do and do not’s of investment and the safest modes. One can surely get a bird’s eye view from the blog and can dig deeply on to it. Very informative blog; a must read for blooming investors.