Investment Tips for Homemakers: You can save ₹5,00,000 by saving just ₹500, this idea is amazing for housewives

Household women do not get a salary every month, so they often save whatever money they have in their wallet and that money gets spent somewhere. But if instead of saving it in the wallet, they invest even a small amount, they can save lakhs of rupees sitting at home. Today, there are many such schemes in which you get good returns in the long run and you do not even need to go anywhere to invest in it, all the work can be done online sitting at home. To avail of the online facility, you need to have a bank account because money gets automatically deducted from this account every month. If you save and invest even Rs. 500 every month, you can accumulate up to Rs. 5,00,000 in a few years.

Where to invest?

Rs. 500 is such a small amount that anyone can save easily. If women invest just Rs. 500 every month in SIP, they will become owners of lakhs in a few years. Money is invested in mutual funds through SIP. In this, the average return in the long term is considered to be 12 percent, which is much better than any other scheme.

In how many years will you accumulate Rs. 5 lakh?

If women invest Rs 500 for 20 years, they will invest a total of Rs 1,20,000, but at a return of 12 percent, they will get an interest of Rs 3,79,574. In this case, the total amount invested and the interest will be Rs 4,99,574, which means you will get about Rs 5 lakh. On the other hand, if you invest Rs 1,000 every month instead of Rs 500, then at a return of 12 percent, you will accumulate Rs 5,04,576 in 15 years and in 20 years, with a modest investment of Rs 1,000, you will accumulate Rs 9,99,148. In this way, you can make yourself a millionaire with this small amount.

(Disclaimer: Investments in mutual funds are subject to market risks. Before investing, do your own research or consult your advisor.)