11 simple tips for everyday money saving: Save money daily—
Looking for simple and smart ideas to save money? Here are some ways to save small amount of money on regular basis. Saving small amounts daily give you a big amount saved at the end of the month. We very well know small steps can lead to big changes. Let’s make saving money easy.
Before we start with the money saving tips, go through the below 4 points. Write them down in a small dairy. Since the amount of money you earn and purpose of saving money can be different for different people.
- How much money do you have?
- How much money do you want to save?
- What is your monthly expenditure?
- Can you make things better and how?
Once you have clear idea about these 4 points, you will have a clearer view about how to save money.
10 simple ways to save money:
1 )Record your expenses:
The first and most important step is to know how much you spend. You cannot start saving money unless you know how much are you spending today. So, for the very first month, write down all your expenses. Make sure you check your debit card and credit card statements to be very accurate.
Expenses are of two types:-
These are amounts that you pay on a regular basis, and can’t be adjusted. You have to pay this amount without any kind of delay and on priority. Like-Rent, Bills, Loan EMIs, School/ College fees, etc.
B) Floating expenses:-
These are the expenses on which we can apply some ideas and draw some saving from them. Like- Monthly grocery, Shopping, Entertainment activities, etc.
2) Budget your savings:
When you know how much you earn and how much you spend, it gets easy to budget your savings. Set a certain amount that you will save every month. Keep that money aside.
You can also automate that deduction from your salary account to your saving account. Accounts have the feature to set a date of deduction and the amount.
Alternatively, you can start RD (recurring deposit) with your bank. RD pays that monthly deducted money back with some added interest. It’s like icing on the cake. Who does not love it.
3) Save money on monthly grocery:—
Most people are shocked to know how much are they spending on grocery stores each month, when they start recording their expenses. Plan on what you are going to cook for next couple of days or a week. Purchase grocery strictly as per the list. Alternatively, you can opt for grocery delivery option.
This will avoid excess buying of new chocolate cookies that catch your eyes or ready to make food that generally lures you. You will definitely save hundreds if you plan grocery shopping effectively.
4) Save money on Electricity bills:—
The new energy efficient appliances are a great way to save on electric bills, but they are expensive. Hence you can save by being smart user. Adopt these habits:–
- Turn off unnecessary lights.
- Use natural light.
- Unplug chargers and appliances when not in use.
- Turn off air conditioners when not at home.
- Avoid using ovens and heat creating appliances in summer.
- Wash clothes in cold water.
- Keep your fridge at ideal temperature.
- Avoid using dish washer and washing machines if possible.
5) Save money on travelling expenses:—
This step will help you save few hundred every day. If you are hard on cash switch to pooling cabs, using metros, trains and buses. If not regularly, try doing this once or twice in a week.
6) Borrow what you can-Don’t buy:—
Need a ladder for some ceiling repair work? Borrow it from the neighbours or your friend, or get it on rent. Don’t buy the items you will not need regularly. Try borrowing or renting it.
7) Pack your lunch-–
Avoid eating frequent meals outside. If you are in college or working in office, try to pack your lunch from home. This will save you lot of money. Also, will keep you healthy. Outside food is never good. Moreover you can eat in peace. No standing in queues, no hush rush in eating. You will eventually end charged up, eating healthy and peacefully.
8) Zero out cash daily/ Use a small Piggy bank:—
This idea is so fun!! It’s not only kids that can have their piggy banks. We youngsters can too have one. Have a cute piggy bank for yourself and zero out cash daily by the end of the day.
Zero out cash-
Say, if you have Rs 4250 in your wallet on a particular day. Then you can zero out the cash by either putting 50 in your piggy bank or 250 in your piggy bank. Believe me, this idea works magic. You will end up saving thousands of your money.
9) Cut down your cell-phone bills:—
Try opting for a lower plan than you are using right now. Try getting rid of extra costly data plans. If you are having more than 1 connection, try completely surrendering the second less used connection. This will save few hundred every month.
10) Unsubscribe emails from shopping website:—
The online companies try keeping you connected with them by everyday lucrative offers and sales. Unsubscribe to their mail services. Don’t end up being an impulse buyer.
Try following 24 hour rule. Give yourself 24 hours before you buy anything. Think if you actually need that particular item. Believe me, 70 % of the time you will end up realizing that you do not need it. And shopping that particular product can be avoided. You will save this way.
11) Be a Minimalist-Sell anything you don’t need any more:—
We are always attached to our personal belongings and throwing them off is not at all easy. Many times we keep a lot if things with us for years which we don’t use anymore.
Sell such stuff!! You will be happy to see it in someone else’s home. In turn that will give you decent cash. You can pay a portion of your bills, or say few bills from the money you make by selling unused items. Also de-cluttering your home brings positive vibration. Be a Minimalist!
The following points were everyday tips to save money. There are several other techniques and methods to use and spend money efficiently.
Also, having feeling of gratitude with money is also must. There is Japanese technique called “Arigato money” which teaches you how to make peace with money. Having feeling of gratitude towards money is as important as earning and saving money.