Ever fantasized about that dream car (if you are a guy) or that dream house (if you are a Memsaab)? The perfect house, with the perfect furniture in every room, at least 4 bedrooms, each bathroom fitted with the best of fixtures and fittings, a lovely sunken bath in your own bathroom….etc etc etc! This is probably the only dream that most women see with their eyes open. But you need so much of dough to live life Queen Size!

Where do people get all that money?
Do you want to be rich, and financially independent?

Now before you think that this is just another marketing gimmick, or invitation to join some MLM, let us clarify. This article is neither of those things. We have just tried to come up with practical and sensible ways in which our Memsaabs can contribute even more to their family’s financial security and happiness. These tips won’t make you rich overnight. But if pursued properly, they can surely put you on the roadmap to financial security.

There are only two ways to become rich. Either you win a huge lottery, or you work hard, save and invest wisely. Now, everyone knows that the chances of winning that lottery are really not that great. So if you want to make it big, you’ve got to put in some efforts. Here’s what you can do…

• Invest in Stocks. All you need is a Demat account and general knowledge of the internet and the stock market. In fact, the knowledge of stock market can also be gained by reading the pink papers and watching select programs on TV. CNBC has so many programs for investors that also talk of future trends and answer your queries. But playing in the stock market comes with a risk. The gains to be made are great, but so is the risk. You should not invest in stock market if you are over 40 years of age.

• Invest in Mutual Funds. For people who are scared of directly investing in stocks, or are aged between 40 and 50, or have no time to devote to stock trading, should invest in Mutual Funds. Mutual funds bring you the expertise and knowledge of highly proficient fund managers. MFs invest your money in various stocks, debentures, real estate, govt securities etc. The element of risk is here again, but it is slightly lesser than that in direct stock trading.

• Get a part-time job. If you are a stay-at-home mom, you can invest 4-5 hours of your time in a part-time job. Even women who work in full time jobs usually leave for home by 5-6 in the evening. There is still time to give tuitions for an hour or two in the evening. For all this you do need the loving support of your family (husband, kids and in-laws). Make sure that you do not spend the extra income. Invest it in the SIP (Systematic Investment Plan) of any Mutual Fund.

• Invest in Property. Realty is the best long-term investment. Even if you do not have enough to invest in a plot or an apartment or a built house, you should consider taking a loan. Housing loans may charge you interest, but in the long-term you will make huge benefits. Invest in property keeping in mind a time frame of at least 7-10 years.

• Invest in Gold. The yellow metal has forever been increasing in value. The best part is that you buy a piece of jewelry, wear it as much as you want, sell it, and still make a profit! There are a few things to consider though. Always invest in KDM jewelry, or even in raw gold. If you are buying gold for investment purpose, buy the items with least extras on them. Extras are other stones, gems and pearls. If you sell your gold item, these extras will be deducted from the weight, but you pay for their weight when you buy the jewelry.

• Work Online. There are many jobs today that can be done online. Journalism, content writing, medical transcription, teaching, editing etc are a few to name. Working online gives you more flexibility to choose your working hours and you also get to spend more time with your family. You can actually get a part time job online to add to the income of your regular day time job.

• Blog for money. In case you don’t already know, bloggers also make money, and from their blogging! You can also do so if you have a flair for writing and also a sense for marketing. Memsaab provides you the platform for blogging and even gives away monthly prizes for the best blogger.

• Freebies on Memsaab. Memsaab gives away prizes for the Blogger of the month and also Voice of the month. So if you actively blog or participate in the forums, you can win some freebies. Memsaab also hosts a few contests every now and then. Keep watching out for the contests and you may win some extra cash!