Housewives play perhaps the most crucial role in the society. They are the central axis which keeps a household running like clockwork. While they are not paid for their work they still help in indirectly making and saving money. This is because when the husbands earn the salary the housewives are responsible for spending it for the all the necessary things. This is why it is crucial that besides the mandatory spendings they also spend on investments to increase the family revenue. In fact they can track all the important parameters like gold rate today Jabalpur, at home very easily while carrying out their daily work. Hence, we have put this quick guide to help the housewives in learning about the best possible investment channels and some crucial tips on investing:
- Equity Mutual Funds
One of the most popular and efficient forms of investing for housewives are equity mutual funds. They help you save and invest a certain amount of money, every month. The money gets invested in equity mutual funds and helps them achieve their financial goals in the long term. Equity mutual funds let you grow your wealth at a better pace when compared to other asset classes like FDs and RDs.
- Debt Mutual Funds
If you are looking for stable returns, then debt mutual funds are the best investment options for housewives. These investment plans do not come with high risks and can also be used as an emergency fund. Debt mutual funds are also known to generate relatively higher returns on investments when compared to traditional investment instruments like FDs and RDs.
- National Pension Scheme (NPS)
It is quite a possibility that housewives do not have any regular source of income. So, how can they plan their retirement? National Pension Scheme (NPS) is the answer to their retirement planning needs. They can start investing in this plan from as low as Rs 500 per month. The money grows over time and on reaching retirement age, you can easily withdraw up to 60% of the corpus tax-free!
- Fixed Deposits (FDs)
Fixed Deposits are the most popular investment instruments, especially for housewives. These investments are completely risk-free and the returns from them are fixed. The investor has to make a minimum deposit of Rs. 1,000 for a fixed tenure. The tenure can start from 7 days and go up to 10 years. The interest rates and other terms & conditions may vary from one bank to another. There is complete flexibility in investing in FDs. The minimum and maximum deposits are not set in stone. Also, these investments can be made online as well as offline.
- Public Provident Fund(PPF)
This is an ideal investment for you if you tend to save around Rs 1,50,000 or less than that. When you choose the public provident fund route of saving your money you automatically agree to the 15 year lock-in period. This duration may seem a lot however, it is apt if you are choosing this investment for the long term. Moreover, as a reward for this wait time, you can rest assured that you will be getting a good rate of return.
- Gold Jewellery
Investing in gold can be both fun and effective for housewives. First of all they already know about the timings of all the essential festivals and religious ceremonies. So they already know about the right timings of the gold. In fact just after a few days of tracking metrics like gold price today in Kanpur or Jaipur, maybe they will have learnt all the essential trends. Additionally gold is one of the highest rewarding investments. Hence it’s a win-win situation. Click here to learn more.