10 Manageable Ways To Save Money

Mithila Mhatre 2017-07-10



Whenever we decide to save money there’s some cute dress or delicious food or beautiful jewelry that makes it hard to save them and then we end up spending even more.
But now no worries because some super easy and profitable ways can help you to save some money which will also allow you to spend some bucks on luxuries occasionally


1. Envelope Budget

Overspending can be controlled with this way of saving. In envelope budget, you keep a certain amount of cash in envelopes for categories like grocery, restaurants, personal care, emergency etc. So once the cash in particular envelope is finished, you can’t use more money for that category. This can help you limit your spending.

10 Manageable Ways To Save Money

2. Spontaneous Saving

Every month, transfer fixed amount of your salary to saving account or investment account. You can also setup automatic deposit talking to your payroll staff of your organization. This can help you to save some money staying out of your sight and mind. Also, you can take a jar or old wallet in which you can add some loose out of your pocket or 5-10% of you withdraw everytime from ATM.

3. Short-Term Savings

Sometimes long term saving plans cannot be as fruitful as short term ones. Moreover, we can save more when we aim for short term savings. For instance aiming to save some cash every month or week. These time limit goals will motivate you to save up more money.

10 Manageable Ways To Save Money

4. Saving With A Mission

Saving with some purpose always help. Setting goals like an exotic holiday or shopping spree or new apartment motivate you to save some money. This way you not only learn to take tough financial decisions but also improvise your future.

10 Manageable Ways To Save Money

5. Public Transport

Choosing bus ride or share taxi ride over driving yourself to work or college can be definitely budgetary. This can be cheaper as you would be saving parking expenses as well as fuel expenses.

10 Manageable Ways To Save Money

6. Sell-Off Your Collection

Collecting things can not be so profitable. Instead of adding up unused stuff like books, clothes, electronic appliances or shoes, sell them online which will not only clean your house but also would be money-making. This way collecting some money can help you fulfill your financial goals.

10 Manageable Ways To Save Money

7. 30-Day Rule

Sometimes we are attracted to nonessential things and end up buying it. But there's a solution to avoid it. You can write down things you want to buy and wait for 30 days. After 30 days if you still want to buy it. Slowly you can extend it to 60 days also. This way you can study if that thing is truly worth it or not.

8. House Party Instead Of Hanging Out

Hanging out can be expensive for you. And inviting your friends at your home can be quite cheaper. You can watch movies or play cards or gossip all night at home without any restriction. This idea can save your food and entertainment budget.

10 Manageable Ways To Save Money

9. No More Fast Food

Limiting fast can always save your pocket and health. Rather than fast food, go for their healthy substitutes. Deciding and preparation of snacks during the weekend for the upcoming week is what's necessary and you will need only hour or two for this. This can be a good choice financially and physically.

10 Manageable Ways To Save Money

10. Staying Away From Fancy Habits

Abandoning unhealthy fancy habits can be beneficial in many ways. Smoking, drinking alcohol or taking drugs can make you run out of cash. Save some bucks rather than wasting it on hazardous addictions.

10 Manageable Ways To Save Money

Executing these ways would never give you short in cash anytime. After some time when you will stay committed and save efficiently you will find more great ways of saving money.




ABOUT THE AUTHOR

Mithila Mhatre

Mithila Mhatre is studying second-year Biotechnology degree in Jai Hind College, Mumbai. She and her team have been working on a research project and have presented it in various intercollegiate competitions. Her team had won the third prize for the project in poster presentation JIGYASA 2017. Also, she is a writer, dancer, and singer. She is an avid reader. She has worked with Explainoexpo and Rightskill, as a content writer. She is also the campus ambassador for PopXo and the social media manager for Actozen.



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