In this article, we will share 10 Tips to save money and how you can start saving every month
Everyone finds it difficult to save money…but everyone does want to save. All of us have different incomes. Some people earn more and some earn less. You should decide what percentage of your income you want to save every month, say 25% of your salary, and use the tips give below to achieve this goal.
Here we show you 10 Tips to Save Money every month:
- Reduce your Boradband Wifi plan – Towards the end of the billing cycle, observe how much wifi / broadband you have consumed this month. We found that we had subscribed to a 100GB broadband plan but we only using half of that, so we changed our plan and took a lower plan. We managed to save Rs. 800 every month. That becomes Rs. 10,000/- every year!
- Use cab sharing like Shuttl or Ola share or Uber pool – Make use of cab and bus-sharing services like Shuttl or Ola share or Uber pool that can help you to travel comfortably and also save money.
- Less eating out – Ordering food and drinks every alternate day is one of out biggest expenses as we are lazy to cook food. But now, we are learning to cook easy items and cut down on eating out. Outside food is also bad for health.
- Reduce your electricity Bill – Cut down on all extra lights and air conditioning when not required. This is age old advice but it works. We have tried this and saved money month on month.
- Change your Mobile plan – Switch your telecom provider if required and cut down on your mobile bills. We Indians are used to overpaying for basic communication service.
- Book Flight tickets in Advance – Yes, last minute flight tickets are costly, we all know that. Sometimes when you know your travel dates, always book your flight tickets in advance. We prefer low cost budget carriers like Indigo, spicejet, goair, air asia.
- Disconnect your Laptop adapter – As soon as your battery is 100% charged, disconnect that laptop adapter and start saving on electricity bill every month.
- Watch movies on weekdays evenings – Instead of watching movies on weekends when movie tickets are expensive, you can plan and watch movies on Wednesday or Thursday evenings when tickets are cheaper and theaters are less crowded.
- Buy Veggies on Weekends – For salaried professionals it is difficult to take out time in the evenings and generally we are tired after a hard day at work. But buying veggies on weekdays from wholesale markets or ‘mandis’ can help you save thousands every month.
- Plan your expenses – Easier said than done, but planning your expenses and keeping track of them is the way to go. We use a free mobile app called Walnut that automatically records our debit & credit card expenses and net banking transactions by reading the bank sms.
These 10 tips are easy and simple and won’t cost you too much time or money. Start using some of them and tell us what you think. Happy Saving!!