Can I grow money?

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.