romil ramgarhia

Balance Your Personal Finance with Modern Investment Plans

Financial planning and discipline are key to one’s financial freedom. Proper investment is a highly effective way of maintaining your money. If you thought that it is a complex process that is only made for people with a higher income, you are mistaken. Indeed, large investments need a strong focus and vision, but there are other convenient options that you can try.

Importance of Investment:

No matter your age, income or spending habits, you can always choose a responsible way of investing your money. If you want to grow your money, you should try different sources to put them. Observing the growth of online investment platforms,I can recommend you to try some virtual and non conventional options for investment.

Try New Sources of Investing Your Money:

Below, you can try the top options to invest your money wisely. Choose the investment plans that match your financial circumstances.

  • Mutual Funds: You may have surely come across the different ad campaigns that call for investing in mutual funds. If you have a long term investment goal, this can be perfectly suitable for you. It is a fund where your money is pooled for buying stocks, bonds and other assets. You get a fair share of return without managing an individual stock portfolio. You can try multiple mutual funds. This will diversify your investment and help in the better growth of money.
  • Stocks: If you wish to maintain an individual stock portfolio, try to invest in nifty 50stocks. It is a useful idea for investments that hands you dividends from their profit share. It is also a low-risk investment with a larger potential for growth in the future. However it is always advisable to have a personal portfolio manager to manage your stock investments.
  • Virtual Assets: It is an alternative source of investment that is still in the stage of growth in the Indian market. This field is for those who are willing to take a risk in investing their money in non-conventional sources. You should only allocate a very minimum % of your savings to this mode of investment. You can choose to invest in cryptocurrencies like Bitcoin and Ethereum. As a media professional, I feel that NFTs have a high chance to become a potential source to put your money.

Another important investment is taking up Term and Medical Insurance. Though it may feel like an expense every year, but God forbid if you have to use the same; it becomes an extremely important tool to secure your savings. It is also very important to start early with your insurance and keep increasing it every year to accumulate the benefits of age/health.

In my opinion, these are some beneficial ways of investing in a modern way. Some of these ideas have higher opportunities to make your money grow in a short time. Try these to control your personal finance properly. I advise you to consult with a financial expert before planning any investment. To get more useful ideas to maintain your personal finance, follow my blog.