5 ways to make most of the idle money in your account

 A lot of us do have money exceeding the general requirements of day to day (month to month would be more appropriate) in our salary/savings accounts, which lies idle and earns a mere 4% interest rate which is the most common interest offered by most of the banks. We might want to let it earn a little more but are afraid of locking in the money to some deposit, else should some need arises, we would run short of it, if the deposit is not broken.

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Fret not, this article will tell you the options you have to earn more than the idle money is earning now. 

How to invest in the Direct mutual funds

In the previous article I had given you information about the equity mutual funds, saving taxes, and also about the direct and indirect (regular) methods to invest in them. In regular methods the entire process is completed with the involvement of the financial advisor or the distributor who also charges the commission in return of the services offered. However, if you have decided to invest via the direct method and save some more bucks this article will tell you the steps to be followed.

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Saving taxes with mutual funds

Your first job

So you are 20 plus and after finishing your study you land up in your first job (may be in your dream company) happily. Soon your first salary is credited into your account making you super happy. As the time passes you start noticing the provisional income tax being deducted from your salary and in a way you get frustrated. You think you have just started earning and a considerable amount is going directly to the govt. Also the money you get you prefer to spend on various activities of your interest and the entire amount is spent very soon. Correct? And then you eagerly await for the next salary… where one should realise the importance of saving some amount regularly.

 

(image source google images)