All the cricket fans in the house, holler!
It’s the year of the cricket world cup, a quadrennial extravaganza that brings the entire country to a standstill. A billion souls will bleed blue and root for Team India!
As a die-hard cricket fan, your spirits are at an all-time high since you expect our men in blue to bring home the trophy this year. And given India’s strong performances in the international scene this year, there is a serious expectation of India emerging as world champions, on British soil, in 6 months time!
And wouldn’t it be lovely if you could witness the crowning moment of glory in person at the hallowed Lord’s turf?
Sounds far-fetched? Diligent financial planning can take you places and to Lords.
Travelling to a foreign land for a considerable amount of time requires careful planning and lots of money! With less than 5 months to go for the mega cricket carnival to begin, you should start prepping up your Mahi and Kohli T-shirts. But what you should also start looking for is an active, high-yielding, short term investment opportunity.
There are many short term investment opportunities that can help you gather the money you require for making your dream come true. But, as always, what is most important is to be financially aware and prudent about your goal.
The first thing to figure out is to have a rough idea about how much it will cost you. Accommodation, flight tickets, sightseeing around England and Wales- all of these need to be taken into account as well. In addition, ticket prices will be the most fundamental expense.
Here is a rough breakdown of all the major expenses you might incur if you go on a solo trip to watch a minimum of 4 matches in the span of 15 days in England and Wales-
- Round Ticket (Economy)- An average of Rs 47,000
- Tickets- 70 pounds each i.e. Rs 6,500 for one ticket
- Accommodation- An average of Rs 60,000
- Sightseeing and other expenses – Rs 75,000
Your total would add up to around INR 2,00,000. Phew! That’s a whopping amount required to be spent over 15 days! It is very difficult to pull that money out of your pocket from a single month’s salary, right?
Fret not! You can make sure you manage to cheer for our men in blue by investing in ultra-short-term liquid funds or short-term funds.
If you have been nurturing this dream for long, you must already be putting aside money for this. Investing in short term debt funds, with a maturity profile of up to 1 year is the ideal way to go about. These funds invest in debt securities and ensure a good rate of return of about 7-8%. Investment in such funds can guarantee you a good, steady corpus that will come in handy.
Ultra-short-term funds or Liquid funds are funds which have a very less maturity period, sometimes less than even 3 months or 91 days. As the name suggests, they can very easily be converted to cash. Liquid funds would typically invest in bonds with a residual maturity of fewer than 91 days.
Such assets include treasury bills, money market investments, very short-term commercial paper etc. They are ideal for investing short-term surpluses and seeking good returns in a short amount of time. They yield good returns owing to their high volatility and easy convertibility since they do not have a defined lock-in period.
Short-term funds are best for low-risk appetite investors and quick return seekers. They are ideal if you wish to meet your objective in the easiest and most effective manner possible. You can also seek to invest in other short term mutual fund schemes, which can help you earn a healthy return.
If you haven’t started to save for the mega event yet, don’t worry. You still have a lot of time at your hands. Start sip today by putting aside your money, in the best mutual funds app, and start your journey towards realising your dream of cheering India!
Be smart, invest today and live your once-in-a-lifetime dream as you cheer Team India in person in England!