Hello Visitor, How are you? Thanks for landing on my literature about the topic “Money Saving Tips“. This is one of the biggest dreams of every people to save some money for their future (or) for other expenses such as Spending on Vacations, purchasing Gold, purchasing hi-fi home equipment and so on.
We all are looking for some ways to save a part of our income for our future purpose but it seems impossible to do it.
No matter, what you planned for your future? But you need money to protect your future and for this, you have to earn more money to save from your monthly budget.
How to save money? Was the biggest question because even in this era, we can see most of the people are still going for an office job. What they get a monthly salary is nothing they can save by spending on their monthly budgets.
Tell me what you will do when you have some extra money in your pocket?
1.) Spend on a family vacation
2.) Save some money for emergencies
3.) Pay for debts and Loan’s, so that you can lead a debt free life.
You plan on it today because I am going to show you some sort of ways to save your hard earned money for your future needs.
In General, what most people will advice you was, you need to carry out some additional jobs either online job (or) offline job apart from your regular work to earn extra money for savings.
The truth is, there are many money saving tips available if you’re willing to invest some little time to learn how to make it possible?
Online Home Income’s suggestion was, “spend your money smartly” by understanding these following ideas.
It all starts with you and yourself. You should first fix in your mind that you are going to save at least Rs.1000 INR [20$] this month for some blah blah reasons.
Your mind and your heart should stick to your vow. It’s not much difficult to save money (or) start saving, if you know the way to do it properly.
Saving money doesn’t mean that you should stop spending.[clickToTweet tweet=”Most people are saving money by spending money smartly.” quote=”Most people are saving money by spending money smartly.” theme=”style3″]
We are going to discuss this in these further few minutes.
Making some small tweaks in your routine work can do a lot wonder. Yes, you can save money from your daily spends such as Grocery shopping, dining, tea stalls and coffee shops, buying baked items etc.
Have you ever written your daily spending in a diary (or) a note?
Have you ever calculated your day to day spending?
If not so, you should start doing it now because a proper plan in your spending list will save you huge money.
All people were using smartphones today and there are so many applications available for Android and iPhone. Their main application of these apps is to monitor your daily spend from your pocket (or) bank account.
Opt for a bank account that takes this work for you, which will calculate you’re every spend from your debit card (or) credit card.
Recommended Money Saving Apps: Clarity Money, Mint, MyTaxIndia, MySmartPrice.
If you have some 1000INR today in your pocket, and spending everywhere in the place of needs such as Tea Stalls, Bakeries, Coffee Shops, restaurants etc. Ultimately, you won’t spend all the cash in your pocket at single POS and sure you will get a change.
Start collecting all the changes and in the next day, put it in your bank account. Make this as a habit and you can see your money grows.
This is a very important task for every people. A little plan before your spend will save you a huge money. For an example, if you are going for a grocery to purchase items, what you do normally?
i.) Keep on purchasing all you see (or) ii.)purchase things only you want.
The second option is the best because preparing a list of your needed items and purchasing will save you money. Shop only when you have the list, else you will end up purchasing un-necessary items that will cost you money.
Also, most departmental stores offer their regular customers with Coupon’s (or) Points for every purchase they make. Use those coupons and points to save few bucks.
You can get discounts everywhere anytime, even when you go out for a picnic (or) dine (or) a movie. Apps such as Freecharge, PayTM, BookmyShow offer a large range of discounts on Movie Tickets, Dine at restaurants etc.
Stop paying cash at these POS and start paying through Mobile Wallets such as PayTM, Freecharge etc. to save some money. Normally, you will get as cash back deposited in your wallet itself.
CASHBACK is also a source to save money, which you can spend later for any other purpose.
I almost save more than Rs.1000 INR every month from Movie Tickets, Weekend Dining out at Restaurants by paying through PayTM and using Apps.
When you plan for the large purchase of a home (or) office furniture’s, kitchen utensils and equipment, electronics etc., wait for the festival season sales such as Diwali, Pongal, Black Friday deals, Amazon Great Indian Sale etc.[clickToTweet tweet=”When making a high-cost purchase, wait for season sale such as Amazon Great Indian Sale.” quote=”When making a high-cost purchase, wait for season sale such as Amazon Great Indian Sale.” theme=”style3″]
Doing these kinds of major purchases at particular season save you a lot of money. For an example, A 55Inch Smart TV will cost you approx. 1200USD [Rs. 80000] at normal period’s, will cost you 800 – 900USD [Rs. 50000] during Diwali, Newyear sale etc. — Rs.30000 Savings —
This will save you some more money especially in routine purchases like Groceries, and Home needs. Keep on purchasing your groceries from one Departmental store every month will save you money.
Because most consumer businesses were following a tactic of offering more discounts and points to their regular customers. Make use of this offer to favor for saving money.
As I told, Money Saving means is not quit spending, it’s about how you manage to spend smartly on your day-to-day expenses. Also, one more point I want to notify is, Bulk purchasing always get your money spent less.
We normally buy items in bulk when we use a lot and so next time, when you plan for any purchases, try to purchase enough to maintain its stock for the future use to save money. Money cannot be saved as money but this can be done in any form such as things, commodities etc.
Bills and dues are recurring for every individual because it needed to be paid to continue using any services (or) products. Prepare a checklist of your current services and the bills you are paying for them.
For an example, some common monthly paid services are Cable, NewsPaper, Internet, EB Bill, Telephone Bill, Car Loan, Home Loan, Credit card loan etc.
I know all people have these bills in their monthly budgets.
1.) You can reduce your monthly expense on your Cable bill by looking for an alternative service provider (or) opt for a plan change.
2.) The same idea will work for your Telephone Bill and Internet Bill.
➡ Remove any unnecessary add-ons such as Caller Tunes, Missed Call alerts, and any subscriptions such as daily news, thoughts etc., which you can get for free.
3.) Making some changes in your home lighting’s and the use of other electrical types of equipment can save you some few hundred in your monthly budget.
➡ Switch off your lights and fans when not in use and when you leave your home. Open your windows during daytime to use plenty of natural sunlight that helps to cut down your electricity bills and improve your health.
4.) Search for Re-financing of your existing car loan (or) home loan because you can use the advantage of lower interest rates (or) extended EMI’s can reduce your burden.
➡ A study says that a clean air filter in the car saves up to 7% of your fuel. This is also a kind of money saving that saves you up to $1 – $5 every day.
➡ Maintain Air pressure in your car tires, because every 2PSI under pressure leads to a loss of 1% of your fuel more in your mileage.
On every occasion such as marriage, birthday parties etc., Gift’s play an important role. You can make your own gift instead of buying some stuff from stores.
Make gifts of your own will express your personal bond towards your friend, which will not be shown when you buy from a store. At the same time, this idea will save you money.
At the same time when you are about to give a treat (or) a party, inviting your friends to your home will help you save more money.
Going out of a town (or) pitching a hi-fi restaurant will cost you more money and you too spoil your food budget also.
Concentrating on your health does save a lot of money on your hospital bills. Drink plenty of water every day that has great health benefits.
It helps you stay healthier and has more financial benefits too. Avoid eating junk foods (or) prepackaged foods at home and when you are out. This habit will make you stay healthier and prevent medical bills and following this money saving tips will be a great utilization.
At times, when you have no option other than going out to dine, increase your savings with coupons and rewards credit card that gives a bonus for every payment.
Most banks offer high reward credit cards for their account holders. Make use of it and swipe at every POS to claim reward points and bonus cash back.
Remember that, you can make purchases (or) pay for services through your credit cards and never try to withdraw cash using your credit card.
If you do so, you will be burned with the higher percentage of interests on repayment, which cost you more.
Make this as a habit on every purchase and also as a routine before making any decision. Because of the biggest competition in all the B2C businesses, you will get the best deal if you compare prices and negotiate with the merchant.
Stop shopping things (or) accessories without comparing its price but at the same time never compromise quality. Negotiate with the merchant every time to get the best price, as this is also worth saving you the lots of money.
When you pick up an item for buying, before taking into the cart, wait for 10seconds and ask yourself, whether do you need it really (or) not?
It’s a hobby for most of the people but on the other side, it saves money. Transform empty space (or) area around your house, cultivate some plants like Tomato, Cabbage, Chillies, Brinjal, carrot, curry leaves, and the potato is easily cultivable in your house terrace.
You will get nutrient-rich hygienic vegetables for your own consumption, thus saving money and also it creates a bond between you and nature.
When your yield is higher, you can even sell at your local market and make some extra income from home.
This is the last important thing I want to advise you all because accumulating new debt is really an over-burden for you.
Some debts are essential and unavoidable, such as Buying a Home Loan, Education Loan etc. In such cases, try to make the down payment as big as possible.
The more down payments, lesser the monthly EMI saves you from the burden. Also, you can quickly pay off your loan which will save money spending on the Interest.
All these valuable tips are organized and written orderly based on the practical experience. This can be useful for every (or) all person.
The contents of this page were written to give some financial advice to our audience based on the current situation.
The ideas on this page when implementing may bring some changes in your financial goals and it may (or) may not be suitable for all people.
Hence, Online Home Income disclaims these ideas are just for informational purpose only.
Thanks for reading this valuable information on Money Saving Tips. Every people, you and me, are working hard every day to make some money for living, but we all are spending without monitoring it, this makes us borrow money (or) get a loan.
But, when you start saving money, you will become free from your financial stresses. The last few tips:
Don’t accumulate new debts,
Pay off your existing debts,
Deposit smaller portion of your income every month,
Keep track of all your daily, monthly expenses,
Give prior to Essentials,
Dine at home,
Once you started following all these ideas, you will find huge money saved every month and it starts growing. You will be happy morally when your money grows by itself.
Quit spending is not saving money, but you can save money by spending smartly.
Keep Saving for the Future.
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