WAYS TO DOUBLE YOUR MONEY

10 WAYS TO DOUBLE YOUR MONEY FAST

Everyone wants to make more and more money. However, some people believe in to double earned money. There are numerous ways about it. We have shared top 10 ways to double your money fast.

  1. Stock Market

The stock market is one of the quickest ways to double your money but it works on risks, there is no guarantee for your money which you invested in the stock market. Before investing in the stock market you have to focus and understand what market is saying then only invest properly.

Stock market trading is divided into three different parts intraday trading, short term trading and long term trading.

Intraday trading is a type of stock trading in which you buy and sell shares within a day.  Short term trading is in which buy and sell shares within a year and long term trading in which buy and hold shares more than a year. Thus you can double your money through investment in the stock market.

  1. Mutual Funds

A mutual fund is also a faster way to double your money, but like others, it also has advantages and disadvantages. The primary advantages of mutual funds are they give a higher level of diversification, economies of scale, liquidity and on other side investors have to pay various fees.

You should make sure to select the large-cap fund or blue chip for investment. In mutual fund investment, companies invest your money in many fields to gain more money.

  1. Real Estate

Real estate is just buying properties and selling them, by doing so you can make a lot of money but you have to study the market, buy low-value property and selling them on higher prices.

Real estate is another type of investment which can double your money. In real estate, you can make more money by renting your property. It is not necessary that you always make money in real estate because sometimes the value of the property does not increase.

Must Read: TIPS FOR FIRST TIME HOME BUYER – YOU MUST KNOW

  1. Bank Fixed Deposit

A fixed deposit is a financial instrument issued by a bank or NBFC’s which gives investors a higher interest rate than a regular savings account.

Fixed deposit is one of the safest ways to double your money because you just have to find a good interest rate from a good bank so you can get a good interest in a particular time.

In India the interest on FDs is paid quarterly from the date of deposit, interest is credited to the savings account or paid by cheque. Fixed deposit is a popular choice of investment offered by banks.

  1. Bond

A bond is an instrument for income that represents an investor’s loan to a borrower. In easy language, a bond is only papers for the money which we invest, and in bonds, we can earn up to 8-9% per annum.

All documented loan agreements and the contracts are bonds, a promise to pay a sum of money which is written and signed on a certain date is known as bond.

  1. Gold & Gold ETF

In gold ETF, ETF stands for Exchange Trading Fund. In India, every family has gold in form of ornaments, and we can make money by gold also because it has a good return value and by placing gold in banks or finance companies we can get a good amount of money.

Ornaments of gold are having less return value than the gold biscuits. There are lots of companies which turn your unwanted gold into cash, and by that cash, you can fulfill your needs. Investing in gold is one of the easiest ways, which offer a 22% return interest rate. Gold is a good option for investment which can double your money because it has a good return value.

  1. National Savings Certificate

Indian postal department issued the National Savings Certificates (NSC). It is one of the safest kinds of investment. These certificates have a fixed time of 5 to 10 years and a fixed interest rate.

In 5 years of time, you will get an 8.5% rate per annum and 8.8% for 10 years of time. This rate may vary from time to time. National savings certificate has one more benefit you can use it to avail loans from any bank. It also helps you to cut down your income tax. It is available in any nearby post office with minimum risk.

  1. Corporate Deposits/Non-Convertible Debentures (NCD)

There are many investment schemes which can double your money like NBFCs and corporate give higher interest for non-convertible debentures in comparison to fixed deposits of India.

Companies issues corporate deposits and NBFCs issues non convertible debentures.

These deposits give you higher interest by which you can earn a lot of money. It is noticeable that many companies offer different interest rates due to the fluctuation in the economic market.

  1. Small Business

By doing small business, you can double your money it can give you a lot of profits in low investments but you have to be very sure where you are investing your money otherwise, you will lose all your investment.

In a small business, you have to see the factors of the market what does it wants and where it wants. Selection of place is also very important like nobody buys woollen jackets on beaches.

There are many ways to start a small business which can double your money fast. The new generation has many innovative ideas for making money and leaves a positive impact on the world. You can follow it to double your money.

  1. Mobile Phone Recycling

Today everyone has a mobile phone and as the updates are available everyone wants to use new mobile with new features, so what will happen to the old mobile phone, you can buy it in a cheap amount to start your mobile phone recycling business.

Mobile phone recycling is something like you are making money from the waste of mobiles. There are lots of parts in a waste mobile by which you make money by selling them in a proper market.

Presently, there are many mobile repairing shops which accept waste or damaged mobile for cash, by this you can make money.

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