In a previous article, we have discussed about the methods by which you can easily save the money you earn. You can read the article again here. So in this article, we discuss about the easiest ways to invest your saved money.
Accordingly, here I have mentioned some very low risk money investment methods. We must save the money we earn without spending it completely. That money will be useful for you in an emergency. Not only that, it is also important to grow your savings.
Otherwise it happens Depreciation of savings due to inflation. So let's take a look at these simple ways to grow your savings.
General Savings Account
You can open this regular savings account through any bank. If you are interested in money management, it is hard to do without a savings account. We can save the money we earn through this savings account.
Even if the interest income from this is not a big one, but it will be a sufficient one. Moreover, there are a number of benefits that we can get through it. It can be described as follows.
Your money is protected
Keeping your money with you at this time is very risky, but it is safe through depositing money in a bank.
Being able to get a debit card
You can get a Visa, Master, Maestro or American Express debit card for your bank savings accounts. Then you can get money in the account at any time. Also, by inserting the card into an ATM, more transactions are available.
Online Banking
With the advancement of technology, Online Banking is a service provided by many banks. Bank provides user/password to access your account in this way. There you can visit the respective bank's website at any time and make transactions through your bank account.
Fixed Deposit
The account opened by the bank to deposit a certain amount of money in a bank for a certain period of time is called a fixed deposit. For example, you can deposit an amount of 500 dollars in the bank for a period of one month. the interest paid to you by the bank is higher than the interest paid to the savings account.
In that case, you cannot deposit the money at will or take it when you want. The specific amount must be keep throughout the agreed period. The advantages of this are that the interest income received is higher and the security of the money is confirmed. Apart from this, credit facilities can be availed through the bank by keeping these as collateral.
CD (Certificate Of Deposits)
These are almost similar to fixed deposits. The difference is that the respective deposit amount, period and the interest paid are decided at the time of opening the account.
Treasury Bills And Treasury Bonds
Treasury bills are a debt instrument issued by the government of a country to meet its monetary needs. It is issued by central banks on the promise of repayment at maturity. It can be described as a risk-free investment method.
because the government intervenes directly. In addition, there is a financial instrument called Treasury Bonds. The difference is that it is a long-term investment. If you don't have a short-term need for your deposits, you can invest them in treasury bonds. Below are the benefits of this arrangement
- Get full government protection for your investment.
- Achieving higher capital-profit margins.
- Liquidity (ability to turn investment back into cash) is high.
Gold purchasing
Everyone knows what gold is. Many people use gold as a luxury and not for investment purposes. Gold is a good investment method. But compared to the ways mentioned above, the risk here is quite high.
But when we look at the gold market, we understand that its value is gradually increasing. If you have a large amount of deposit, you can buy gold as a good investment. Apart from the risk of theft or theft, it has many advantages. They are listed below one by one.
- Liquidity is high.
- Most of the time, the price of gold is gradually increasing.
- Can also be used as jewelry.
- Can be pawned
in this article, I have mentioned some ways that you can invest your savings money. You are safe because they are very low-risk investment methods. Moreover, you do not need a lot of knowledge for the above-mentioned investment tasks. Therefore, they can also be described as very easy investment avenues.
