Homemakers do not earn, but they are unmatched in terms of savings. While managing the house, they manage their pocket money very smartly. Usually, women spend their savings on household needs or on fulfilling some of their hobbies. But if you save and invest just ₹ 1000 every month, you can create a balance of ₹ 10,00,000 for yourself. This means that you can accumulate such a large amount for yourself by just saving a small amount while sitting at home. Understand how.

Mutual funds will create this amount.

Nowadays, mutual fund is also considered to be one of the best options in terms of investment. Despite being linked to the market, the risk in it is considered less than investing directly in stocks. You can start investing in mutual funds through SIP with just Rs 500. In this, you get the benefit of compounding, that is, you get interest on interest along with the principal. In such a situation, the longer you run SIP, the better the profit you will earn. Usually, it gives 12 percent interest and sometimes it can also give 15 to 20 percent. To earn better profit in this, you have to invest for a long time. If you invest in it for 15 to 20 years, then you can earn a big profit even by investing a small amount and becoming a millionaire.

How to make 10 lakh rupees from 1000 rupees?

If you start investing 1000 rupees every month in mutual funds through SIP, then you will invest 12 thousand rupees annually. If you continue this investment for 20 years continuously, then you will invest a total of 2,40,000 rupees, but according to 12 percent interest, you will get 6,79,857 rupees only as interest. In this way, after 20 years, you will get a total of Rs 9,19,857 i.e. almost 10 lakh rupees.

On the other hand, if you make a profit of 14 percent, then the maturity amount will be Rs 11,73,474 and if you get a return of 15 percent, you will get Rs 13,27,073 on maturity. That is, by investing Rs 1000 monthly through SIP, you can accumulate at least 10 lakh or even more in just 20 years.