I will tell you 31 easy points to implement in you life to save the money.
1. Write your daily Expense:
Be-live me or not ...... this is the 1st & foremost step to save your money.
"Where does my money goes ? I really can't understand."
The most commonly used statement isn't it ?
If you wants the answer of this question start writing your daily expense. Starting from a single 1 Rs. chewing-gum you purchased to money you have given or taken from your colleague.Everything, everything should be recorded with you. You don't need to carry a pen & diary every time; instead you can use a smart way, yeah a smartphone app. There are many apps available in market to record your daily expense viz. Expense Manager.
2. Make A Monthly Budget:Ones you are able to track Where your money goes? you can easily control How to manage your money?
This should not be like any scientific equation. It is just the idea for the fund needed to suite your monthly living. Start by listing your fixed expenditure like transportation cost, food, etc, and keep aside money for these. The balance can then be used for discretionary expenses like shopping, gifting or partying.
3. Spend within the planned budget :It is much easy to say but very hard to implement, I know. But you will enjoy this as much as you start practicing this. Stick to your planned list as much as possible.
Did you go to buy a lip balm and returned with a bag full of cosmetics? An excellent way to control impulsive buying is to make a list before heading towards the market. Though the shelves are filled with temptations, pledge to stick to your requirements, and you will have more money at the end of the month.
Make your "Things to buy :" list & update it monthly.
4. Say “No” :While shopping you come across a cool T-shirt or pair of shoes & your monthly planning sheet get entered into dustbin isn't it ? It happened with me also several times. Then how to deal with this situation ?
Exactly say "NO". Say NO to what you do not need.Ask yourself, “Do I need this ?” twice before buying anything. This is a powerful weapon to save money which I am using it.
5. Plan Your Purchases:If you want to buy a designer saree or 3- piece blazer for your cousins wedding worth Rs. 5000. Then start planning to buy this before 5 months & cut your expense by 1000 monthly. See how easily you manage to save this huge amount by cutting your outing & party expense.
6. Plan your travel early :Make the travel bookings early and reduce the travel cost. In case you rush for last minute bookings, you need to pay higher rates.
7. Fund For Emergencies:
There is one commercial on TV, I don't remember that brand but the tagline is like
"Mushkile kabhi bata ke nahi aati"
True, very true. Start your emergency fund not ASAP but right now.
Rather than borrowing from friends, making small adjustments, such as skipping a movie at the multiplex or ordering pizzas less often, can help you prepare for both opportunities and crises.
8. Use Debt card frequently then credit card:
If you have to swipe, use a debit card. Unlike credit cards, there is no interest or late-payment charge in the case of a debit card, so there is no danger of stacking up a debt. It will also help instill financial discipline if you spend only what you have.
9. Free up your loans :
If you have an option, free up your loans to maximum extent. If you are trying to save money and invest in investment options where you are getting lower returns than what you are paying, it is better to pay back your loan instead of paying higher interest.
10. Use credit card which is charge-free:
Buy a credit card where there is no surcharge (extra charge for using the credit card at fuel stations) for using it for gas/fuel.
11. Prepay Mobile Expenses:
Choose a prepaid plan to avoid ugly surprises at the end of each month. You can also customise to make the plan cheaper. So if your calls don't last more than a few seconds, get a pay-per-second plan, or if you are an SMS addict, add a message card to make them free.
12. Use Free ATMs:
After the first five transactions in a month, you are charged Rs 20 per cash withdrawal if you are operating an ATM outside your bank's network. So, regular withdrawals from ATMs outside the surcharge-free network can be expensive. Avoid them.
13. Buying clothes :
Buy clothes only after you clean your wardrobe.This is one of the good ways of planning.
14. Patience Pays:
Even if you are dying to buy the new Android phone, waiting for a few months will be a good idea. Gadgets prices tend to fall as soon as there is a successor in the market. So, postponing your purchase for the same model by a month or two can get you a price cut.
15. Swap 'n' Save:
Haven't you always exchanged your books and CDs with friends and cousins? Now you can do the same online to get a wider choice and save as well. Websites such as bookchums.com, swapadda.com and booksvilla.com can help you search for a person to exchange your belongings with.
16. Search For Online Bargains:
Before you go for a movie or lunch with friends the next time, do not forget to surf the Internet. Discount sites are mushrooming by the day, with some offering as much as 95% off on a variety of products and services. You can get huge bargains at restaurants, on multiplex movie tickets, apparel, gyms, spas and a lot more.There are various sites like snapdeal.com.
17. Online discount offers:
There are several good online shopping portals where you can save money. These online shopping portals are offering great discounts with several good features like delivery on cash, 30 days money back guarantee, return goods if you are not satisfied. Recent survey conducted in India shows that the online shopping has increased by 80% in last 2 years. Some of the good portals are flipkart.com, shopping.indiatimes.com, snapdeal.com etc.
18. Prefer buying them at shopping malls for discounted rates:
While it may not be true always for all purchases, you would definitely get good discount when you buy your purchases from shopping malls.
19. Festival season offers:There are several offers during festival season. Sometimes, we may feel it might be genuine, sometimes not. En cash the festival season offers wherever you feel they are genuine discounts. Currently all retail stores are offering discounts throughout the year instead of during festival seasons.
20. Party At Home:
Rather than spending thousands of rupees in a restaurant, if it is possible organize a barbeque party in your backyard. If this sounds like a lot of work, just spruce up your room and order some good food to have fun at half rate.
Check for various ways of having fun at home.You could save lot of money by making this as a habit as would be spending time at home with zero cost.
21. Save money in power bills:
We used to get the Energy bills/Electricity bills for Rs 500+ per month. So educate your family on “use when you need”. Switch off the electrical items when you do not need.
Another tip is “unplug your electronics” during night time completely (except your refrigerator). Even though you are not using them, as the electronics are plugged, it would consume some amount of energy. You can save that too.
22. Inexpensive Entertainment:
The city's community centers offer several quality entertainment options which are also extremely inexpensive. You can opt for musical performances, film festivals, art exhibits, theater productions, dance recitals, sporting events and much more. Check out the local newspapers to keep track of such events.
23. Dinner/Lunch at discounted price:Every one of us would go to lunch or dinner during weekend. Have you tried checking the offers where the restaurants are offering good discount prices? There are various offers at dealsandyou.com/Restaurant-Deals, snapdeal.com etc.
24. Save money on medicines :
I prefer using “Medi Plus” for our medicines as we get 10% discount straight away. You can try for any such similar discounts being offered by chemists and reduce expensesThere are various promotional offers in the market where you get free sample/freebies in return of some surveys or sharing for company products. I personally posts free samples links on this blog. Check them out & save your money.
25. Free Samples:
26. Buy used one :
If you go for a new one to buy you need to spend more money. So if possible bye used one e.g. you can buy used car. Currently there is very good demand for such used goods.
which you already have.
27. Sell unwanted stuff:Spend one week at home and clean-up all unwanted stuff. You can sell them at ebay, quicker, OLX and get some extra money. This extra money may not be big, but such unwanted stuff cleaning would help you to know what you need and what you do not need. You can avoid cases where you end up buying
which you already have.
28. Go on bike instead of car :In case you are going for smaller distances and cannot go by walk, avoid going by car and instead use bike. You could save lot of fuel.
29. Reduce your car expenses:How about switching off the A/c of your car to most of the extent.This may be painful in initial times, but if you adopt, you could save 25% of your fuel expenses.
30. Lock your car in the weekend :In the weekends try to keep your car locked. Making a habit of walking for shorter distances not only saves fuel, but it also keeps us healthy and fit.
31. Take organic food and fruits:Do you take organic food or do you go out in the weekend and spend money and have junk food and spoiling your health? Eating fruits not only keeps you healthy, but saves money.
Conclusion:I have mentioned few ways to save money above but I know it is not perfect & complete. If you are saving your money with other than above ways; please share your idea with our readers.
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