what are the options for growing money, ? (for example : if i have a rupees 5000 in my account)?

Answer 1

If I had Rs5000 in a bank account and wanted to use it to grow financially I would first invest in a good book like Robert Kiyosaki’s Rich Dad Poor dad or the cash flow quadrant. Financial literacy or rather the ability to know what to do with your money is more valuable that the advice you’ll get from friends or internet blogs. At times you might get good and fascinating ideas from the internet but nothing compares to the ability to know what will work and what won’t. I presume when you say you have Rs5000 in your bank account this implies that you reside in India? After reading the two books I recommended above, look into exporting. At this point India is the world’s promising third world country; every country wants something from India, software, BPO, textiles and many more. Start looking out what you can export. Form a corporation or rather a circle of business friends; put together a list of all the things you can readily export.

Find out a number of ways you would be able to export and get the prices from people like DHL and your export authorities. Sometimes countries have export duties and etc. when you know how much it would cost your customers to transport goods from you to them then invest a small amount of time and money on an internet website like yahoo geocites and ebay online shops. They are free to host and easy to maintain but you might need a pro to help you out on a great layout.

My guess is you’ll do fine if you dedicate some time and energy into this. Personally I would like to find out what I can import from India. I like the textiles market.

Good luck!

Answer 2

There are plenty of options. You first must decide on the level of risk you are willing to take and whether you have the skills and knowledge to effectively manage that risk level. Obviously, the higher the risk, the more money you stand to make.

You also don't indicate whether you are looking for passive income (you want the money to grow without any input from you) or you plan to actively direct your funds.

If you want passive income and are willing to risk the funds, I would suggest foreign exchange trading (forex trading) over the open market. It is a 2 trillion US Dollar daily market open 24 hours a day Sunday through Friday. Like Stock options, you buy options on one country's money (like USD or Jap. yen) and sell an opposite currency which is selling at a higher price. You earn money on the difference and in the daily interest payments made on the currency you are holding. I use a software from www.freedomrocks.com It is also a home based business opportunity if your interested in that sort of opportunity. Real simple to understand and use.

There are far to many other options to even begin listing them here. And no easy answers!

Good Luck and take control!