Smart money investment options this new year

  • Posted By :
  • Saturday Dec 01, 2018

Meetings, appointments, schedules, work deadlines, daily commutes, and weekend parties: the frenetic pace of life can be dizzying. There are many things you need to do every day but the time is just not enough. As an ambitious individual, you are so focused on nurturing and building your career that you may forget important things like investing for a future, when you may not be working anymore. With the New Year coming up, this may be the perfect time to think about creating new resolutions to secure your future.

Financial resolutions

Kick off the New Year by making a list of different goals you wish to achieve. For example, you may want to buy a new car, go on your dream vacation, clear up your student loans or pay off your credit card debt by the end of the year. These goals will give you a sense of direction and focus where your money is concerned.

Importance of savings

When you invest your money in different avenues, you not only earn good returns on your investments, but also reach your financial goals; at a much faster rate. But before you start investing, you need to save. Create a list of your monthly income sources and expenses. How much do you save each month? And is it possible to increase your savings?

In most cases, the answer is yes. Create a budget for the coming year and ensure to stick by it. By consciously increasing your monthly savings, you can put your money to better use by investing in regular investment options for your future goals.

How to invest

Financial goals vary. Some are short-term goals (a small family vacation, creating an emergency fund) and others can be long-term (retirement planning). This means you need to find investment avenues to help you achieve these goals in the best way possible. Luckily for you, mutual funds investments offer a wide range of options (debt funds, hybrid funds, equity funds, sectoral funds) that can help you meet different financial goals simply and easily. 

Debt mutual funds are ideal for short-term goals because they offer steady returns and are low on the risk factor. When it comes to long-term goals, you can invest in equity mutual funds to earn higher returns. Equity funds might seem a bit risky but when you invest for the long-term (ten years or more), the risk level comes down, and your returns improve significantly.

Start a SIP

There are many online investment ideas, but a SIP is probably the simplest and easiest way to start your investment journey. A Systematic Investment Plan (SIP) is an investment vehicle that allows you to invest a fixed amount of money each month in mutual funds. All you need to do is identify a mutual fund suitable for you and transfer money into the fund on a regular basis. This helps you earn steady returns in the long run. The interesting feature is you can start your investments with as little as Rs. 500 each month; as your income levels grow, you can increase the SIP amount.

This brings us to another interesting New Year resolution for you: how about gradually increasing your SIP amount each year? This can help you reach your goals at a much faster rate.


New Year resolutions are a fun way for people to motivate themselves during the year. Sadly, a large number of people break their New Year resolutions in the first week itself. But this time, you can make a change in your life by setting up small and achievable financial goals for yourself. So set up a SIP with and start investing.

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