5 Best Ways to Save Money
Hi Friend, in this blog I will be telling you the simple trick and the all 5 Best ways to Save Money.
When I was a kid, I used to save money (coins) in a coin box and write small savings book so as to check how much I am saving. this savings usually was for novels, toys, video games, etc.. Because of this, I was named as the ultimate saving boss in the family.
But then, as I grew up and realized that I need to save a lot of things that are more expensive than novels & toys.
I won’t say I am reckless but as I grew up, as soon as I’d get money, I would have this itch of spending it somewhere, because I didn’t know how to handle it, especially when everyone around is selling me something.
So I read a few financial books, seek advises from some financial experts and I came to know that I can save a lot by making a few simple & efficient changes to my lifestyle.
In this article, I am going to share with you, that how I saved money for my future. So it doesn’t matter if you are a salaried employee, student or even a housewife, the sooner you start, the better results you get.
Here are simple & best money saving tips
- 5 unique & best ways of saving money
- Things you must do on the 1st of every month.
Stop taking loans, avoid using credit cards bla bla bla …!
Friends I’m not going to bore you with this kind of advice which you all already know and I know you are smarter than those people who spend money that they don’t have just to buy the latest phone or limited edition gadgets.
So let’s go deeper & discuss the 5 real & best way to save money
1. Don’t use money when you get distracted
Now, what do I mean by this? let me explain
Want I actually mean by distraction is spending money on unnecessary things, nowadays swiping a card is so easy and we actually spend a lot of money for shopping and expensive dinner to make us happy but actually, the true happiness can be found in other smaller things in life
Now suppose you spend rs 200 on a distraction every day. If you save it instead, then 200 x 30 will give you Rs 6000 per month, If you invest this money somewhere, let’s say Mutual funds then after 5 years it will give 4.9 lakhs!!
2. How to Save Money by Paying Less?
I’m not asking you to bargain, in fact, I find it heartless that people bargain with local vendors for 10rs holding a 50000rs phone But there are some smart ways to reduce the monthly expenses.
Whenever you are traveling try to use Uber-pool, Ola-share, quick ride or find someone in your building who goes to your office or if the office is nearby just trying going for a bicycle as a transport mode, It will help you out to stay fit and healthy and also you can save money which we are spending on transport
By doing so you will save both money & environment and of course the blessings of people because you will be one amongst who is reducing traffic
Cook at home
I know u feel this is too much 🙂 but listen to me you will be spending 50 or 100 for breakfast, 150 for lunch, 50rs for snacks, 150 for dinner amounts to too much!!
You can’t believe the amount of money you will save if you start cooking by yourself, plus it is easy, healthy & a great stress buster.
Cancel Subscriptions that you don’t need
Like Magazines, beauty boxes, delete all shopping apps and unsubscribed from shopping haul/Makeup videos which tempts you to shop
3. How to Save Money by Maintain Records?
Suppose you buy a water heater and it stops working after 2 months and if you don’t have the bill and the warranty card won’t be wasting money on the repair?
So anything money related should be saved & organized just as you maintain the bank and investment details by maintaining a separate file for each of them so that I don’t pay for the manufacture’s mistake.
4. How to Save Money by Invest in your health?
As we get old day by day our body organs get weaker and no hospitals can get back a perfectly working brain, heart, bones, digestive systems, etc.. but you can maintain all these by eating right & exercising regularly by just going for a walk, play badminton, do cycling & that all it takes
It will help in two ways
1. It will save lakhs on hospital bills &
2. You will be more productive and eventually earn more.
5. How to Save Money by Invest in yourself?
The best way to use money is to invest in self-development but what is the self-development?
let me explain
If you are stressed out of your job then instead of spending money on cigarettes or alcohol use that money to take some courses to improve your skills sets that will get you a dream job.
Who knows these new skills can give you a new source of income
2) Things you must do on the 1st of every month.
- This is the day when we make the best & the worst decisions about money
- Pay your bills every month on time which will avoid you from paying extra penalties
Follow the 50-30-20 budget planner for every month
So the true happiness is not in spending money instead it is found in work (which we love doing), in family and keeps yourself fit and fine 🙂
Also, know the Power of Compounding