Whenever we think of the money it is always less than usually what we need. My kids expect me to buy an Apple phone. My wife expects me to buy a big home with lavish kitchen and drawing room. I always want to drive sedan car and spend holidays in the foreign location.
But the only problem is ----------------- limited income. I have only one salary which comes once in a month but lots of expenses. Only small amount is left in SAVING ACCOUNT. So the question is whether I can grow money in fields like farmers grow plants.
So where should I grow money? My father advised me to invest in FIXED DEPOSIT (FD) & RECURRING DEPOSITS (RD). I was happy till I come to know of a monster known as INFLATION. INFLATION used to eat most of the interest income earned by FD. I am back to square one i.e. Thoda hain jyada ki Jarurat hain.
My mother told me that investing in Gold is the best and safest investment. I bought some gold ornaments on her recommendation. I thought of selling Gold on a nominal increase of price but was shocked to find out that jeweller cuts more than 10 percent of the prevailing price of buying back the same ornaments on which I have paid 10 percent making charges while purchasing.
I learnt from my friends about stock market. I opened Demat account and invested in Initial Public offer of Reliance power in the Year 2008. What a timing ---- stock market crashed. I thought I will never invest in stock market.
So how can I grow money? Are there shortcuts? I sat back and started reading business newspapers and business magazines. I listened to the experts on the business news channels. I got enlightened about mutual fund SIP (Systematic Investment Plan). I learnt about the power of compounding and power of averaging. Now I am investing a small amount of money every month since 2008. I have invested around Rs 14 lakh in the mutual fund SIP and it has grown to around Rs 21 lakh and the returns are tax free.
