Without a doubt, one of the best situations in life is when, out of nowhere and for no apparent reason, some money falls into your hands. Whether for winning a prize, receiving a gift, a bonus at work, among others. If that has ever happened to you, you have experienced the sensation of surprise, mixed with relief and emotion, after all, nobody likes to receive an extra amount!
Once you overcome the emotion, it is time to decide what you will do with the money. If you are thinking about spending it all, maybe you should consider doing something different this time. As the years go by, knowing how you can grow your money will be something that will benefit you, and what better way to start putting it into practice in a situation like this.
Growth to the maximum
Then, instead of spending it, you must execute the “Growth to the maximum” operation. How to make it succeed? What options can you choose? Do you need to be a connoisseur of finance to achieve it? Quiet! There are many doubts, but the truth is that you do not need to be an expert to be clear about what to choose, just inform yourself and understand which alternative corresponds more to your profile.
This option is the most basic. The idea is that you choose an account with the highest profitability, that is, the best interest rate. This means that you will receive monthly interest for the amount of money you have in the bank. Something that you must ensure is that they do not charge you maintenance, since otherwise your money will begin to be reduced. If you get more income you want to save, you can deposit it whenever you want and keep earning interest.
Fixed term deposits
DPFs are another of the most famous options. In this case, it is possible to obtain higher interest rates than with savings accounts, but the trick is that the amount you deposit cannot be withdrawn until the term you choose is met. This can range from months to one or more years. Interest can be paid monthly or at the end of the entire period, it will depend on how the user requests it.
If you do not plan to use the money for a good time, this option is a good alternative for you. Once the interest is met and you can renew the DPF for another period and so your money will continue to grow. As always, each alternative has different conditions such as minimum amounts, interest rates, etc., and you must choose the one that suits you best.
This is another option if you are looking to raise profitability a bit more and are willing to take a risk. The previous alternatives were the safest in the market, however, the picture changes a bit when we enter mutual funds, since it is not specified how much the final profit will amount to. One of the things to highlight is that the companies that manage mutual funds offer the necessary advice for this investment to grow. These are voluntary contributions that are then used in the Capital Market.
When investing, it is necessary to choose a type of fund taking into account your profile, for example, conversational, moderate or risky. Then you have to choose the type of portfolio that suits your needs. This has to do with the reason for which you invest the money. You can do it to finance your master’s degree within three years, or to go on a Good Finance in one year. What you are looking for will determine how much time you have to invest and in what products it would be better to do so.
Something that many people usually think about this is that you can probably start investing if you have a large amount of money, but do you know how much is needed? In some cases it starts with s / .500 or $ 200! It will also depend on the entity you choose to invest.
Another type of investment that definitely brings rewards has to do with investing in your studies. You may not see the results in specific amounts, but being more prepared allows you to access better positions, or even perform other types of work independently. So it is also an option worth evaluating.
And there you have it! Four interesting options in which you can invest the extra money you received, without regretting or spending it on a whim.