March 13 , 2013
You need to understand the difference between saving and investing. When your goals are short term in nature i.e. less than 3 years in time, you need to save. Options to save are bank fixed deposit and recurring deposit.
When the goals are long term in nature you need to invest. Shares, equity mutual funds, gold and property are few options to invest your money. Investing is risky, but once you learn to manage risk, investing will become easier for you.
If you do not have too much time then SIPs in equity mutual funds and gold ETFs are the best option. You will rarely go wrong if you stay invested for a long term horizon.