10 best ways to save money without investing too much of your time
You should also be knowing how to manage your money and invest it properly. We have discussed lot of times to learn different ways to earn extra income.
Everyone looking around for best ways to save money but only few people actually do it. Most of the people face this problem because they don’t plan it properly at the beginning of the month. Always they will be thinking about saving money for future but because of their monthly bills and spending habit they were unable to do it. Now a day’s cost of living is very higher and it is very difficult to save money.
Lots of people even after working for 5-7 yrs doesn’t have enough saving; just because they skipped small daily savings. Saving doesn’t make you rich but over the period of time it will grow. These small savings can be used for paying utility bills or can be used for any other small expenses.Read: Earn money online without investment for students
Most of people use bank saving plans such as FD and RD but these are requires investing money. You need money to invest monthly for that we have to save regularly.
So, How to save money?
The first question you should ask yourself….
Am I saving enough daily?
There are ways to save money by following money saving tips. People waste lot of money unknowingly which can be avoided. You can start saving by applying small changes in day today spending. Small saving on regular basis can make a big difference in long run.
Follow these saving money ideas which can help everyone to save some money:
1. Additional Bank Account:
Open an additional bank account and use it to save money. Once you get your salary, transfer 10-30% of amount to your new account. Do not use this money until and unless there is an emergency. Now consider the remaining amount of your salary account as your salary and spend it accordingly based on your budget. E.g. If your salary is 50,000 per month and you are saving 10% i.e. 5000 then you can save around 60000+Bank Interest yearly.
2. Weekend Party:
Stop going out for party every weekend. If you regularly going out every weekend just try to avoid it or go less frequently. Everything you go out you spends around 1500 approx. every weekend which will be around 6000 per month. Instead of going out, party @ your home or friends place you can save 50-60% of the money which you spent outside. This will help you to save 4000-5000 per monthly i.e. around 50000 yearly.
3. Lunch from home:
Instead of having lunch at office cafeteria, take lunch from home. Home Lunch, definitely it will not be spicy but it will be healthy. Money which you spend daily on lunch can be saved. You will be spending around 100 daily for lunch outside which can be saved so monthly you can save around 3000 i.e. around 3600 yearly.
4. Take a Piggy Bank:
Everyone was having piggy bank at their childhood but they stopped using it once they grown up. I feel that we should keep piggy bank for our entire life time. Keep it in front of your eyes; it will always remind you to save some money. This is the best ways to save money at home. Put some money daily in it. You can use coins left out in your wallet. Month end you can see that you have saved lot of money.
5. Walk and save:
Start walking daily to office, market or any other place which are at walk able distance. It is very beneficial, the more you walk, the more you save and get good health. By avoiding your vehicle you will save fuel. So save fuel save money. You will save petrol expenses and doctor expense’s which are too high now.
6. Buy on offers:
If you are planning to buy clothes, furniture, kitchen appliance, camera, laptop, watches, bags, tablet etc. Just wait for the festivals or year-end sale. You can save 15-10% on the purchase. Check offers online on shopping sites. Most of them provide huge discounts and you can use coupon codes or gift vouchers to save some money.
If you don’t know just learn it by watching people in vegetable markets and other shops. If you ask to reduce some amount definitely you will get it, though this amount will be very small but you can save some money or coins for your piggy bank.
8. Avoid Shopping Malls:
I guess; now a day it becomes prestige to do shopping from malls. Try to avoid shopping in malls. Most of the products are very expensive in malls as compared to other shops in market. If you really want to buy branded products just go for products which are in offers or sale. Keep an eye on online shopping sites such as eBay, Flipkart and Snapdeal. They will be always posting deals, you can buy from there.
9. Save energy save money:
Save electricity and you will get some money as a reward. Just follow the basic things such as switch of lights if you are not in that room, switch-off TV if you are not watching, Laptop or Desktop if you are not using it, Don’t forget to switch off Geezer after taking bath, exhaust fan of kitchen, Power point after charging mobile and switch off main switch when you are going out for vacation. Check your bill next month and compare it with last month bill. It will be lesser than the previous month. You do it regularly it will become habit and every month you will be saving electricity as well as money.
10. Phone Bills:
Before taking new Simcard just review all the plans of service providers and opt for one which has less call rates than others. Once you take Simcard of any service provider you have to recharge the same always. So it is better to take the one which have less call charges. People who frequently do STD or international calls can use Skype of any online messaging tool to talk which are free.
There are lots of other ways out there which can help to save money. I am sure that it’s not possible for everyone to follow all these rules to save money, but you can follow at least 3-4 points from the above list to save some money.
I am sure that you are also having some great ideas and ways to save money at home. Please share it with me and provide your feedback for the above mentioned points.