We Indians Love Our Gold.. India is one of the biggest consumers of gold in the world. Whatever be the occasion; festival, birthday, engagement, marriage, religious ceremony, etc. we Indians love to wear our best outfits and sparkle with our gold jewellery. During these occasions, if we have to gift someone, then one of the most popular items is gifting gold in the form of coin, jewellery, gift vouchers, etc. So, for any occasion, buying gold is always on the top of our mind; whether for personal use or for gifting it. In this article, we present you the Hacks to save on gold with gift vouchers.
Buying gold jewellery for personal use
While we love to buy gold anytime during the year, it is more auspicious to buy gold on two occasions: Akshaya Tritiya and Dhanteras. In the last few years, the prices of gold have skyrocketed. So, we need to plan our gold purchase by saving for it well in advance.
Akshaya Tritiya usually comes in April or May and Dhanteras usually comes in October or November. So, if you observe the dates, usually the two festivals have a gap of 6 months. This gives you enough time to save some money every month by depositing it in a recurring bank deposit with a 6 months tenure. You can use the accumulated amount to purchase your favourite jewellery. But, before you head directly to your jeweller, you have an excellent opportunity to save some money by buying some jewellery vouchers at a discount price from the GyFTR website., you can save up to 5%. Use this saving to buy yourself some extra gold jewellery and sparkle even brighter on the occasion.
From now on, whether it is Akshaya Tritiya or Dhanteras, we have shown you, how you can plan, accumulate money and buy gold jewellery along with saving some money.
Gifting gold
Apart from buying gold jewellery for personal use, gifting gold is very popular in India. During any festival, religious ceremony, marriage or any other family function; gifting gold is considered very auspicious. While we love to gift gold, the high price should not deter us from gifting gold. During such times, the discount on GyFTR vouchers is like a Godsend gift. You can guy gold gift vouchers at discounted prices and gift them.
Accumulating gold for long term goals
It is the dream of every parent to accumulate gold for their son/daughter for the “Big Fat Indian Wedding”. Many parents start accumulating gold from early on when the child is small, while some parents start accumulating gold as soon as the child is born. Here are our two cents on advice on how to accumulate gold for your child’s wedding.
For example, let us assume that you want to accumulate 24 tolas (240 grams) of gold by the time your child turns 20 years old. This means you have 240 months (20 years) to accumulate the required 240 grams of gold. So, effectively if you buy 1 gram of gold every month, you can reach your gold target. The simple formula for this is:
Number of grams of gold to be accumulated/Number of months you have to accumulate this gold
For example, if you want to accumulate 36 tolas (360 grams) of gold in 20 years (240 months), then as per the above formula, you need to buy 1.5 (360/240) grams of gold every month. Now that you know, the amount of gold you need to buy every month, you can buy a gold voucher from the GyFTR website every month and head to your favourite jeweller to buy the required amount of gold coins. This way, if you can save some amount every month through GyFTR vouchers, the total amount that you will save over 20 years will be humungous. This approach will help you to achieve your gold target in a slow, steady and comfortable manner along with huge savings.
These days the ideal marriage age is 23 – 25 years, but you will be ready with your gold by the time your child turns 20 years old. This will make sure that your child’s “Big Fat Indian Wedding” will be the talk of the town for a long time. As a parent, what more can you ask for?