How To Save Money Each Month

One of the most common things people want to know is how to save money. It is always important to set aside at least a little for the future, regardless of how much income you are currently earning.

It doesn’t matter if you are a college student or a college student, going broke is a condition that can be experienced by many people.

Equity Mutual Funds

Equity mutual funds invest primarily in stocks. Under the mutual fund regulations of the Securities and Exchange Board of India (SEBI), an equity mutual fund must invest at least 65% of its assets in stocks and equity-related instruments. 

Equity mutual funds are ideal for those who want to participate in the rally in the stock markets and are wary of direct purchases of stocks. However, when it comes to equity funds, investors often get confused about the goals of different categories of equity funds, so if you’re looking to make a prudent investment choice, here’s everything you need to know about equity funds. 

National Pension System

The National Pension System (NPS) is a long-term pension-focused investment product managed by the Pension Fund Regulatory and Development Authority (PFRDA).  The minimum annual contribution (April-March) for a Level 1 NPS account to remain active has been reduced from Rs. 6,000 to Rs. 1,000. This is a mix of stocks, term deposits, corporate bonds, liquid funds, and public funds, among others.

Any Indian citizen in the 18-60 age brackets can open an NPS account. The NPS is administered and regulated by the Pension Fund Regulatory Authority of India (PFRDA). The NPS expires at 60 years but can be extended up to 70 years. Partial withdrawals of up to 25% of your contributions can be made by the NPS after three years of opening the account, but for specific purposes such as buying a house, raising children, or serious illness. 

Bank Fixed Deposit (FD)

A fixed bank deposit is considered a relatively safer choice (compared to stocks or mutual funds) for investing in India. Under the rules of the Deposit Insurance and Credit Guarantee Corporation (DICGC), each depositor in a bank is insured up to a maximum of Rs. 5 lakhs as of February 4, 2020, both in principle and as interest.

When you invest in FD, you get guaranteed returns that are fixed even before you make the investment. Unlike most other investment options where returns vary depending on market conditions, FDs offer fixed returns regardless of the size of the investment. Main reasons why even the most experienced investors prefer to invest part of their portfolio in FDs. 

Most banks now allow you to invest in FDs for a period of 7 days to 10 years. This makes FDs a great option for all of your medium and even long-term financial goals. The interest rate generally varies depending on the duration of the investment chosen. In addition, preferential rates exist for seniors to help them obtain higher returns.


Owning gold in the form of jewelry has its own concerns such as safety and high cost. Then there are the “manufacturing costs”, which typically range between 6-14% of the cost of gold (and can reach up to 25% in the case of special models). For those who would like to buy gold coins, there is still an option. 

Nowadays, many banks sell gold coins.

  • GRT Gold Eleven Flexi Plan

The GRT Gold Eleven Flexi plan offers an investment opportunity with an amount starting at Rs. 500 for monthly payments over a period of 11 months and the purchase of jewelry on the 12th month. This program is beneficial for clients regardless of their financial situation and also offers a full refund for the non-purchase of jewelry at the end of the term.

  • Tanishq Golden Harvest Scheme

The Tanishq Golden Harvest program allows investors to deposit money for a period of 6-10 months and use it to purchase jewelry when the program expires with up to 75% off the value of jewelry purchased in the framework of the program. 

  • Kalyan Jewellers Gold Schemes

The duration of the Kalyan Jewelers Gold Scheme is 12 months and can be closed by purchasing the selected gold. The monthly payments can be worth any amount between Rs. 500 and Rs. 40,000 depending on the jewelry chosen at the start of the program. All investors, whether they are individuals, trust funds, hedge funds, financial institutions, or universities, must be Indian. Investments on behalf of minors are also permitted.

Real Estate

The house in which you live is intended for self-consumption and should never be considered as an investment. If you don’t plan to live there, the second property you buy could be your investment.

The location of the property is the most important factor that will determine the value of your property as well as the rent it can earn. Investing in real estate offers returns in two ways, capital appreciation, and rents.

Selling a house at its maximum value (or buying at the lowest possible price) requires you to do your homework. The internet is full of real estate information, and you should be a sponge absorbing whatever you can in the market.

How much are similar homes selling in the neighborhood? What is the impact of certain services on the value of the house? What types of mortgage rates are available now? This information is important for buyers, sellers, and real estate agents.

Also, keep an eye out for factors like the weather and the general real estate market. For example, Zillow determined that May was the best time of year to list a home in 2016, but this was due to a low supply of homes which resulted in more competition among buyers.  

If you are a buyer, be flexible and don’t rush to buy a home in the spring. Try to buy when the market is a little less competitive, such as in the winter.

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