When earned monthly income from different sources every month, we surely save some money for future financial and emergency plans. You can make the plan of buying land and building, buying a car, higher education of your children and also for health emergency.
But, here is question "How to Grow Your Saved Money?" Before answer of this question following question is important.
"Why should You Grow Your Saved Money?"
If you can know this question, your curiosity will surely to know about the steps to grow your saved money.
Main reason is inflation or decreasing the purchasing power of money. What we can buy from today money, we will not buy after 10 years. Whether it food product or other things.
(B) If You will not Grow Your Saved Money You can not Survive in Future
For example, at this time, you have Rs. 25 Lakh, you have gone to safe side by adding it in Govt. Fixed Deposit and you are getting its monthly interest of Rs. 20,000 which you are consuming. Now, same was continuing for 5 years. After 5 years, your monthly expenses has Rs. 30,000. Now, you are unable to survive in future due to increasing each product's prices. So, you must invest your saved money instead consuming its reward.
Now, you have reached the point where you have to understand the steps of
"How to Grow Your Saved Money?"
(A) Buy the Piece of Land - Investment in Real Estate Market
Visit Also : What to See Before Buying the Property?
( 1 ) Open School
If you have talent, you can open the school on the piece of land. Every parent wants to get the education for his children. So, it will be your profitable business.
( 2 ) Open Gym
Every one wants to become healthy through gym habit. You can open it and grow your saved money.
( 3 ) Sale Residential Home
You should buy the piece of land at cheap rates. Now construct the building on it and sell it at good prices. With this, you can grow your saved money.
( 4 ) Give Residential Building on Rent
It is also good business. There are lots of family who has no own home. There are lots reasons behind this. One of major is job or increasing the family and it is difficult to live in single home. So, one family go to other home but due to lack of big money they live on rental home.
(B) Invest Saved Money in Online Business - IT Investment
Today, there is big growth in online business. For this, you need to invest your saved money in online business. For example, write only single book and sell it online. Following investment, you need to do.
1) Invest in Website designing
Today, people open websites through their mobiles. So, your website designing should be mobile optimized. For this, you need professional developer's services.
2) Invest in Website Hosting
Website hosting is also necessary. But it for one year with advance payment. I recommend you Bluehost. I highly recommend using Bluehost for your first website, and you can get started now at $3.49/month, which is an exclusive Accounting Education reader deal!
3) Invest in Email Hosting
You will have small team which manage the order. So, you have to buy the email hosting plan. For example, you can divide your management with firstname.lastname@example.org , email@example.com , firstname.lastname@example.org and email@example.com
4) Invest in Email Subscriber Management
Your email subscribers will become your buyer. So, you need to buy the email subscriber management. Feedburner is free, but it is not professional.
5) Invest in Online Advertising
You can advertise your business with the help of following.
a) Google Adword
c) Sponsored Contents
6) Invest in Offline Advertising
You can show your online products ads in offline newspapers.
7) Invest in Monthly Internet
You have to take big internet plan on monthly rent.
8) Invest in Mobile App Development
Today is the time of smartphone. People do not search but they use app. So, you have to make the mobile app and by getting big sale on it, you can grow your saved money.
9) Invest in Mobile App Hosting
Google play store takes $ 25 for its hosting. It will be your investment.