How to Make Your Money Grow

How to Make Your Money Grow

Today there are many options available to give you best return for your income and grow your money, instead of having it stored in a mattress or in a bank account that is not the most profitable. In this case, a good option to increase profits is to place them in municipal funds. Given this typical situation of someone who wants to gives their money better use, finance professor of Esan, Jorge Guillén argues that one of the best ways to make your money grow is precisely these municipal boxes. In case you do not count with enough equity to start a business, you have the option of fixed-term savings.

However, the experts warn that while municipal banks offer better interest rates than banks, they have decreased and are now between 5 and 6%. Fixed deposits have deadlines. The more time they will leave your money in a financial institution, the higher the interest rate that you generate will be. Also, the time spent in an account is fixed between 30 and 360 days. On the other hand, if you have an entrepreneurial spirit and want to have a majority amount of profit with your money, such as 10 billion to 20 billion and you do not know how to grow your money, there are several interesting options. Faced with declining interest rates, experts recommend to go for a small business.

Money grows

Money grows

Jackie Barrantes, director of entrepreneurship UPC says that one of the advantages of having cash is that you do not have the need to borrow and have to pay for the interest to start a business. In this sense, he explains that a capital of 10.000 soles can help you form a company, for example in the purchase and sale of clothing. However, he warned that the most profitable businesses that can help you to monetary gain are those who are based on technology, saving money by not spending on rent of premises. Finally, a cost effective option may be a seasonal business, as in the case of the school year with the purchase and sale of school supplies. Also a related business with a cafeteria could be an alternative in the winter.

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