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You are here : home > Women's Issues > Women at Work > Almirahs Don't Give Returns

Almirahs Don't Give Returns

Almirahs Don

Do you store your money in steel cupboards, keep it circulating in kitties, or do you invest it?

Personal finances are often left for male family members to handle. Percentages, deposit terms, interest rates sound intimidating or confusing to many of us. However, if you can take care of your home expenses, there is no reason why you can't plan your own finances. Don't let those savings sit idly in your cupboard lockers. Here are some tips and idea to help you take charge of your finances.

Make a Finance Plan

Chart your finance plan to know exactly where you will stand in few years of time. You don't need to be a CA to that. Your first step should be underling your aims and objectives. Do you want to save for child's marriage? Do you want to renovate your house? Do you just want to save for a rainy day?
Secondly, find out how much you can afford to save from your monthly budget. After you get that amount, check out existing investment options in the market and whether they will help you reach your goal in your specified period of time. For example, if you can't save big amounts in one go, you can consider a monthly recurring deposit at the post office. This will give you a 7.5 percent p.a. interest over a period of 5 years.

Where should I put my money?

There are two major options: financial investments and real investments.

Financial Investments

Equities or stocks and shares: Buy shares of a reliable company and sell them when the going rate is much higher than the rate at which you bought them. If, you have a blue-chip company share, you can even sell it several years later when you really require the money. Shares offer you instant liquidity.
But if you are looking for a monthly income from your deposit, you can consider online trading. This transparent, paperless, simple process has won hordes of users. And it is witnessing a great tide in form of women who now trade from their homes.
The basic things you need for online trading are your PAN, initial deposit and demat account. There are many institutions like banks and share broking firms that offer e-trading accounts. All you have to do is call them and they will send you a salesman who would help you getting started. But beware, share market volatility is notorious. You need to read a lot and have a good understanding of the market before investing.

Mutual Funds:

These are considered a much safer option. Let's say you invest Rs 10,000 in a mutual fund. Now this money joins a pool of funds which are invested by professional fund managers and you share the profits. Similar to equities, but here someone more qualified manages your money.

Fixed deposits and bonds:

Want low risk or no-risk investments? Try term deposits and bonds. With a surge in interest rates, fixed deposits are a great option. You can lock in your money in banks or post office for some years and reap the benefits. Bonds like government bonds, RBI bonds, etc too are some safe options you consider.

The downside:

Just one, the rate of interest. If it is more or equal to the inflation rate, you will end up with money whose value remains the same after a couple of years. If you invested Rs 5000 and your money doubles in 6 years, there is no use if Rs 10,000 can buy the same things that Rs 5000 bought 6 years back.

Real Investments

These are tangible investments and require larger sums.

Property:

Real estate, gold and art can be your real investments. Upcoming high-rises start with lower rates and as the construction gets competed rates usually climb. Many real estate enthusiasts put in their money in such projects for a couple of years. But you need ready amount and good real market insight to dive into such projects.

Gold:

You could also invest in gold. Financial experts advise buying gold bars rather than jewellery. Gold and precious metals or stones are guaranteed return investments.

Art:

Investing in art is a relatively recent trend in India, but you need to understand and appreciate art in order to make a neat profit.
The moment your savings leave the almirah and enter the markets, you are putting them at risk, so make your choice carefully.


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Revati
Revati.14 years ago
thanks for such a good aritlce.. i am a working women and investing in fixed deposits. the returns are slow but the risk is very less. but after reading this article, i would like to invest in the stock market. can your give some details about the stock market...
 
 
 
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Sheela
Sheela.14 years ago
thank you so much, wonderful article. i am a working women, but had no idea of all the above kinds of investment. now i can decide on more options to save my money. very helpful indeed.
 
 
 
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