If you are interested, it is advisable to be an investor in shares for a long term. In the same way, open-ended mutual fund schemes bring high returns in a small period of time. However it is advisable to indulge in it only after consulting some professionals. Similar should be action with shares as well. If you do not understand the share movements and the share market in detail it is not feasible to make any profitable investments.
Always opt for ease of access: Even though you should invest your money in instruments that bring back high returns, it is better to give attention to convenience and safety. You must be able to access your money quickly when you require it in case of any urgent situation. Therefore you should even out and invest in different modes. This way, you will not face any difficulty or inconvenience in case of an emergency.
In case of an urgent situation, you should not find yourself in a tight situation, having invested all the available money. So for this purpose, you have to keep some fluid cash aside for urgent situations. Spending your money with awareness is also very much necessary. A lot of people buy on impulse and later feel that they should not have purchased the item they just purchased. A little planning and determination can help you a lot.
This way, you can fulfill your intention of saving some money to spend on a later day. Hence make a list of all essential items. Purchase only as per your list. Do not buy something more. You might have previously assigned some money in your budget for additional and unforeseen expenses. Therefore you can rarely indulge making use of that money. Still make certain that you do not spend beyond the allocated amount.