As kids we all have dreamed of putting a coin in our piggy bank and hoping it turn two when we open it. We kept adding one coin everyday hoping when we open it we will have so much more money to buy the toy we have our eyes on, but when the day finally come and we open it has the same number of coins, so we wait more and add more until we finally give up.
At that age we had our parent’s financial support to buy us that toy for us but do we have that support now? Even when some of us do have that support, do we really wanna ask our parents to buy us the dress we want or pay for the trip we are planning?
The endless attempts an average middle class working person make to save some money to finally cros of something from his bucket list or get out of the debt we have from the loan we took, but is it really that simple to save with this running economy?
Leave saving aside, don’t we all need some side income? Some extra money over our salary to pay for the needs and dreams we have?
Would you believe if I tell you that you can just put an amount that can be as small as 20Rs pe day aside and get it not only saved but can even earn a return of upto 25%?
This is what mutual funds is all about, starting your savings from a small amount like 500 or 1000 Rs per month and get returns. By starting with such small amount and taking your 1st step towards investment, you can actually earn and save with almost no discomfort.
Investing money in open market is always a risk and without a proper understanding of such people can actually lose more than they imagine but people still do it in a hope for that good returns and extra income. Mutual funds provide similar profits but here in place of investing all that money on your own you put that money along with more money from people like you and let a person with good knowledge and great experience in the market, invest it for you. Yes it won’t be fast money like Intraday Trading but it will be an investment that you can make with lower risk and with no hard work.
Mutual Funds can help you decide on your investment needs as well, if you are looking for an addition monthly income into your account along with a base level saving you can opt for an “Income Plan” and if you are looking for a long term saving with extra output, you can opt for “Growth Plan”. Plans can also be decided as per your comfort like Open Ended or Closed Ended.
You can consider Mutual Funds as the piggy bank you wanted as a kid but this time when you will open the piggy bank, you will have that extra money with you.