5. Mutual Funds: Mutual fund is the best way to invest and earn profits. It is an entity that pools money from a large number of investors who invest in different securities.

If you want to earn more money but you don’t have time to keep a track on your investments and other related updates then mutual fund is the right option for you. It offers you management of your liquidity thereby making you eligible for tax deductions.

6. Bank Deposits: Banks offers variety of services that will lead to profitable returns for you. Fixed deposits are the term which will ensure you to get huge amount after maturity period.

There are two types of deposits like short term and long term deposits which offer you a helping arm at a specified period of time that is prior fixed by you. These deposits are safe and secure for you and your family.

7. Insurance: If you want to maintain the same smile on your family’s face even after a great loss, then investing in insurance is the best option that you can go for. There are different categories of insurances like life insurance, commodity insurance, health insurance and many more.

You can choose them according to your need and plan a great future for your family. With investing in insurances you can have access to your money at any related uncertain situations. In order to claim insurance you need to provide a valid proof in front of a concerned authority.

All the above investment ideas will help you make more money thereby protecting your money from flowing out unnecessarily. These 7 ideas along with saving a little portion of your money will surely help you become rich.

Read More: 4 Lesser Known Tax Saving Options

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