In life sometimes it feels that we are unable to put a check over our expenses and it feels that we are unable to make savings. It becomes tough for us sometimes to manage the status that our job gives us along with making the necessary savings and thus here we are explaining some of the tips that will help you do that in a smarter way.
How to Save Money
1. Make A Budget:-
The first thing that you need to do to save money is to make a budget. Learn to make a budget with an estimate lower than what you expect so that you may be forced to bargain. You can even choose some smart shopping place where huge discounts and schemes are given on quality goods. Never get excited with the offers that seek to pick money out of your pockets and spend only the amount that is necessary to be spent and try to make savings from that budget also.
2. Bargain While Purchasing:-
If you are on some local Kirana Shop, you can surely bargain with him on the prices as the price on which they sell the stuff is the maximum retail price and they get the stuff less than that cost and there is a possibility that they agree to give the stuff you are purchasing at somewhat reduced price. You can even look for the credit card/ VISA card offers and point schemes etc. that offer you discounts. Some malls even offer cash in hand point schemes that enable you to save some money.
3. Open A Savings Account:-
Calculate the savings that you made after the whole expenses are made. If there are some savings, you can open a savings account in the nearest bank to make some savings. Choose the bank that offers you the best interest.
4. F.D For Big Savings And R.D For Small Savings:-
You might be making these savings to purchase a new house in future or for your daughter’s marriage or simply for an added advantage when you get older. There may be any purpose you are saving money for, there is always a provision to fulfill it. Suppose you are saving just rupees 100-500 per month, you can open an R.D account in the nearest bank or if you have recently sold your piece of property that bought you a huge amount of money, you can even go for an F.D.
5. Future Planning:-
Plan for a better future, not just yours but plan for a better future of every member of your family. As your savings go up, you can manage to have an account for each member of the family. One for the daughter’s marriage on her name, one for the father’s operation on his name and basically every requirement that you have to fulfill in future or you may simply take a utensil from the kitchen and start collecting money in it.
6. Don’t Keep Your Money Hanging With People:-
The problem with some people is that they are merciful enough to forget their own requirements and keep on doing charity for others. This habit will prevent your money from being saved and instead you will get rupt one day. Never keep your money hanging with anybody. Take your payments in time and learn not to lend it to others.