The corona virus pandemic has definitely thrown every one’s carefully planned things out of the door. From losing out on jobs to taking a pay cut, increasing expenditure due to inflation to the rise in cost of healthcare, a common man has seen and faced it all. In such difficult situations can one continue to save for the future while continuing the struggle of meeting the daily needs?
Saving, one needs to agree is a habit that has to be incorporated in one’s system. If developed early on it stays on for life and benefits them throughout. If saving is a habit then no matter what the situation an individual is in, he makes space in his budget to put some money aside for his future. However, rather putting aside cash as a mode of saving for future times; it is better to invest the same cash in mutual fund schemes, insurance or other forms where one can yield higher returns for the money invested.
In the current market scenario, which is volatile and springs up surprises for investors every other day, gold certainly seems to be a favourite amongst investors. The uncertainty pertaining to the global economy, a weakening dollar and the political uncertainty with respect to the tradeoff between US and China has made investors run towards the safe haven of gold.
Gold traditionally has been a metal of great importance in India, be it the wedding festivities or offering it to the deity or for gifting purposes, it occupies a place of pride in the gifting list. Thus, the lure of gold is prevalent in the rich as well as the middle class earning members in the Indian Economy.
How should then a common man invest in gold and safeguard his future in these uncertain times?
Gold is a precious metal and the surge in price definitely makes it an unattainable investment for those who cannot shell a large sum from their tight budget. Thus, here comes in the concept of digi gold or digital gold. Buying gold online is a phenomenon that is riddled with fear and skepticism but certain trusted names in the industry have come forward with apps and digi gold options that are available for as low as an investment of one rupee. The buying of gold from home, through trusted industry names without having to worry about the purity, safety and storage is a great advantage to the common man leaning towards gold as his form of investment.
Digital gold is the same as buying the physical gold from the market, and therefore there is no difference in the price and purity. The digital gold prices are determined much like the prices of the physical gold, therefore it is competitive and uniform across the country with the purity assured at 24 carat-gold of 999.9 purity.Unlike the physical gold bought that needs storage, digital gold is free from such hassles. The reselling of the gold is easy, with buyers allowed to sell it back to their vendors.
Investing in digital gold provides an ease factor of choosing to invest how much and however we want and that perhaps works the best in times of financial crunch. While one continues the good habit of saving