India has come a long way leapfrogging several events of history. While the rest of the world progressed slowly from landline phones to cordless phones to cell phones, we Indians jumped directly from landline phones to smartphones. We’ve leapfrogged plastic money too and jumped right into digital banking technology with the cash less initiative of our Hon. PM. Narendra Modi.
With progress on all fronts, India still remains as one of the largest savings oriented citizen population in the world. For India to progress and for us Indian’s to prosper, we have to leapfrog from the traditional saving mentality to various modern investment instruments. For example, the mutual fund industry has grown over six-fold in the past decade, however, only a minuscule percentage of the population has ever invested in it.
By investing in modern investment instruments like mutual funds, you not only beat inflation, you also secure your future. As the average lifespan age increases with modern healthcare, we constantly see our elder relatives and acquaintances migrating from metros to rural areas. It is not the lure of a slow paced life, but the hardship of making ends meet. Investing in mutual funds possibly takes that insecurity out and lets you gain financial freedom in your old age.
There are financial instruments like 1-day liquid funds that you can park your savings money into, by the click of a button, on apps like “Simply Save”. Doing so ensures you make your money work for you constantly, at the convenience of withdrawing it anytime you need it.
Creating Awareness about such investment avenues is the need of the hour and its worth mentioning that Reliance Mutual Fund has taken proactive measures to achieve financial literacy in India. Their initiatives – Mutual Fund Day (MFD) and Fund For A Friend (FFAF) have created a huge impact.
Through Mutual Fund Day, Reliance Mutual Fund aims to reach out to all the investors in India, to build awareness & consideration, towards Mutual Fund, so as to help the investors to fulfill their dreams by investing. The premise is simple, at the start of every month, we are reminded of our expenses from bills, loan installments, insurance premiums and much more. We set reminders faithfully clear our dues with the fear of incurring late fees and budget the month. Though, we lack a similar approach when it comes to investing. To motivate people to invest regularly, Reliance Mutual Fund is celebrating the 7th of every month as Mutual Fund Day in a bid to help investors build wealth in a disciplined manner.
The Fund For A Friend initiative aims at getting those who are aware about investing to educate their friends about mutual funds. People take a quiz on a friend’s investment need and the result is shared with that friend to educate him on what kind of mutual fund scheme would be suitable.
Such Investment Awareness Initiatives are a sure shot route for India to prosper become a developed nation.