Managing Your Finances | Earning Money
I believe money can be grown on trees but the only thing is that you need that eye who can identify those branches which are capable of growing money.
AUTHOR : BHARAT THAPA
Whosoever is doing something in this world is doing so that they can earn money. Most of them if not all. So are you ready to join this queue if yes then go ahead. If you said no, then this article is for you. Because in this article I will tell you how you can step out of this queue and still be able to reach where people just by standing in line can’t reach. If you want to achieve financial independence this article is for you. So let’s pledge together that in whatever age, situation we are, we will achieve financial independence 10 years from now. And I mean it. I’m not writing it for the sake of writing but for the betterment of society, for the betterment of those people who think money is not grown on trees. I believe money can be grown on trees but the only thing is that you need that eye who can identify those branches which are capable of growing money.
So get ready to explore with me the possibilities of multiplying your income:
1. Real Estate
This one is my favourite. You just need to buy a property and wait for the market price to get doubled and if it doubles then sell it. Only thing required is rigorous research about the property, its demand in the future market, future requirements and on and on. Means you have to do rigorous research before buying any property. And try to get the property lower than the market price. You know why? Thoda bargain to karna banta hai na. Also then after buying that property try to renovate it by spending that amount you saved in a bargain and if this property requires extra money do spend it because this is a one time investment. You can also rent the property as rental income is also a good source of passive income. Overall buy a future demanding property and sell it off when the right time comes.
2. Gold
Who doesn’t spend money on buying gold. But most of them buy it for the sake of an auspicious event. I’m saying we should buy it for the investment purpose. Why not? So you only need to buy gold today and always keep an eye on the market and sell it whenever the gold price goes up in the market. But before buying gold from any jeweller be sure to check its authenticity. As inauthentic gold is as similar as no money. One problem with the gold is that people may steal your gold from your home then try to safely keep it inside your home. Or you can also keep it in your locker. Also nowadays there’s so much digitalization. Why not keep digital gold? You can buy it through any broker in the market. Let me give you some homework. I know you are not a kid but let’s remember your childhood. So in your homework do research on digital gold and you will find a lot of information out there. Gold is one of the best investments you can ever do in your life.
3. Fixed Deposit
Another good investment you could do is Fixed deposit. At Least it is better than saving accounts. FD gives you a return low or high it depends on your duration. If you will do FD for a longer time then obviously you will get high return and if you will do it for a short time then you will get low return. Return on FD is decided beforehand so if the market goes down or it rises it will not affect FD’s return on investment. Yeah this seems to be a good side as well as a downside for the investor but this is how it is. So if you want to be safe in investment then this is your cup of tea.
4. Government Bonds
So if you want to play safe then government bonds are for you. As it’s a low risk and low return investment. Here you will invest your money willingly in governmental activity in exchange for getting a return on investment. This is not tax as tax is you pay to the government. This is investment in exchange to reap the benefits of that investment.As said earlier it’s a low risk and low return investment as the government backs your investment so in exchange the government obviously will not pay you a huge return. Again if you fear that you may lose your money then this investment is for you.
5. Mutual Funds
This one is for all the “Aam Aadmi” out there. If you don’t have any time to learn about anything then this investment option is for you. Mutual fund is the investment in which you give money to the institution and they collect money from a pool of people and on behalf of all those people including you they invest your money on the stock market. If they get profit in their investment you get a high return. However if their invested stocks go down then you also bear losses. A bit risky isn’t it? Yes it is, but it is giving you a high return on your investment. It could make you malamal, no other option out there without any knowledge could do this. But this investment has the potential to make you rich. Isn’t it the best investment then go and open your mutual fund account.
6. Stock Market
This one is my favourite. I think money, which you earn by so much hard work, then you must have the right to decide where you should invest your money. To invest in the stock market you only need knowledge. Knowledge is the king while investing in the stock markets. Beware of half knowledge. “Half knowledge is dangerous” This quote fits best for the stock market world. In the stock market you invest in the companies. And yeah I’ll not lie it’s a high risk investment but wait if you have half or no knowledge about stock market. But if you have equipped yourself with full knowledge then this is your game. And return on investment is uncountable. But before investing as said earlier, equip yourself with full knowledge. It’s easy to learn about it in today’s digital world. You only need courage to do so. And always remember never put all your money in a single company. Always invest in different companies. Are you still waiting? Go and equip yourself with knowledge of the stock market.
These were the information on how to multiply your income. Before investing, do some research and then invest. Hope to see you in the Millionaire list.
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