Tips to invest monthly savings

Discussion in 'Money Matters' started by amnilakshmi, Oct 1, 2012.

  1. amnilakshmi

    amnilakshmi Gold IL'ite

    Messages:
    582
    Likes Received:
    142
    Trophy Points:
    108
    Gender:
    Female
    Hi all,

    I was thinking of investing the monthly savings that we save apart from the expenses... I thot of investing this in RD but each month this amount will differ therefore i am confused. Can you please give me tips. If i have this money in hand, i tend to spend it in the next month.. So please give your valuable tips.
     
    Loading...

  2. jayanthisuresh

    jayanthisuresh Gold IL'ite

    Messages:
    748
    Likes Received:
    136
    Trophy Points:
    108
    Gender:
    Female
    if u like to invest in gold u can do that.. since nowadays gold rate is increasing and it is also one of the best method to invest money.. and in some Jewel shops u can pay money according to your wish. their is no fixed amount. this month u can pay 1000 and next month u can pay 2000 also..
     
  3. Magee

    Magee Moderator Staff Member Platinum IL'ite

    Messages:
    2,245
    Likes Received:
    2,495
    Trophy Points:
    290
    Gender:
    Female
    Hi,

    Buy Gold coin, as per the amount you have, like you will get 1/2 gm and 1/4 gm coin also...
     
    1 person likes this.
  4. anjananathan

    anjananathan Platinum IL'ite

    Messages:
    1,061
    Likes Received:
    728
    Trophy Points:
    208
    Gender:
    Female
    Instead of coins or jewels , i guess the best would be "exchange traded gold funds" as there would be wastage/making charges in buying jewels and little wastage in coins also.. but these are not in GOLD ETFs...

    also u will have it in demat account and u need not worry abt safety also..
     
  5. BuviVishal

    BuviVishal Gold IL'ite

    Messages:
    1,517
    Likes Received:
    346
    Trophy Points:
    158
    Gender:
    Female
    Hi

    As Magaee said you can buy a gold coin instead of paying money in gold shop. Since so many relations are told that if we joined in a gold savings most of the profit willl get shop only not us. Without knowing this i have joined in one scheme in Tanishq shop and paying money when the gold rate is low. For this every day i am tracking the gold price :-(
     
  6. Shanvy

    Shanvy IL Hall of Fame

    Messages:
    23,659
    Likes Received:
    27,217
    Trophy Points:
    590
    Gender:
    Female
    if there is variations in the saving everymonth, check out if flexi fd or a sweep account in your bank in which you have that money helps you...everymonth an excess of x which you hold in your savings account will be put into an fd at the current rate. you can withdraw from that account if you need cash.

    most banks now have this flexi deposit schemes.

    the only drawback is that most of these sweep/flexi accounts do the fd for one year, but still you get a better interest than your savings account..

    this is for the person who is not having risk appetite.
     
  7. Shanvy

    Shanvy IL Hall of Fame

    Messages:
    23,659
    Likes Received:
    27,217
    Trophy Points:
    590
    Gender:
    Female
    one more scheme for the risk averse would be monthly savings scheme from the post office, at 8% it is better than the regular savings account, but the drawback is the withdrawal of the bonus..

    check out the India Post | Mail Services
     
  8. BuviVishal

    BuviVishal Gold IL'ite

    Messages:
    1,517
    Likes Received:
    346
    Trophy Points:
    158
    Gender:
    Female
    Dear Shanvy,

    Are you referring Fixed Depoist??? My husband invested 1 lakh in FD in last year for 6 months. After 6 months the about was credited with 4000. I thought that the interest amount is very very less in bank.if we investing in someother things the interest rate might be higher :-(.

    Please share your feedback about this. Kindly clarrify whether Fixed deposit and flexi depost both are same.
     
  9. Shanvy

    Shanvy IL Hall of Fame

    Messages:
    23,659
    Likes Received:
    27,217
    Trophy Points:
    590
    Gender:
    Female
    Bhuvana,

    FD at 8% will yield 4000 for 6 months for 1 lakh. right now there are schemes that have double in 5 years/7 years too depends on the bank.

    and FD rates have increased to 9.25%.
     
  10. BuviVishal

    BuviVishal Gold IL'ite

    Messages:
    1,517
    Likes Received:
    346
    Trophy Points:
    158
    Gender:
    Female
    Hi Shanvy,

    Is it all bank??? We are invested in ICICI bank. You did not tell about the difference from flexi and fixed depost??

    If they are increased the interest rate whether that changes is applicable only for new joinee in FD or existing customer also??

    Both are same?>
     

Share This Page