Top Investment Tips for Young Couples
When you are starting a new life and are all set to take up new responsibilities, one of the most important things that you need to get down to planning is how to manage the finances..
When you are starting a new life and are all set to take up new responsibilities, one of the most important things that you need to get down to planning is how to manage the finances. While it is exciting to start a new life with the person you love and imagine spending your life with, it is also important to have a reality check and save money for the creation of a comfortable future. Looking for new methods of investment is a wise thing to do when you are still starting your life as a couple because this is the time when you have the most scope to create investment opportunities for yourself and the number of responsibilities are the least at the beginning of a new relationship. Most people would recommend investing in flats for sale in Mumbai as a method of investment and while it is a good way to park your money, there are a couple of other things that you can do. Here is how you can make the best use of your money to earn some more:
- SIPs: Anyone who knows anything about investment would tell you to learn about systematic investment plans and start putting your money in them. There are mobile applications and websites that can help you get into the cycle of SIPs. These are goal and time based investments and you can create long terms plans around them to be able to make the most of your money.
- First Home: It is a matter of pride to be able to buy a house even if it is a small 1 BHK flat in Mumbai. You can choose to create a cosy nest for yourself in a city that is constantly hustling and filled with action. It can be a safe space where you come together with your partner and create a personal life for yourself away from all the noise and have a solid financial asset to your name.
- Fixed Deposits: If you want to play it completely safe and want to make sure that your money works for you without any risks involved you can choose to put your money in a fixed deposit. Depending on the duration of the deposit and the financial institute, you can get interest returns anywhere between 3% to 8% and it is possible to start the investment from as little as Rs. 500.
- Alternate Property: If you already have a primary home you can choose to invest in a second home like a 2 BHK flat in Mumbai in a different part or suburb of the city. Having a second home will not only give you a fairly safe investment option but also help you get an extra income through rents. The current rental yield in Mumbai goes up to 3% if you choose the right property and the right suburb.
Right from apartments for sale to creating small investment pockets in your mobile phone, you have a wide range of investment possibilities. Picking the right choice is something that is imperative to make sure that you are able to safeguard your future with the person you love and move forward in life with a strong backup plan.
