10 Money Saving Tips Which You Should Not Ignore

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There is a famous quote which says that " Little drops of water make mighty ocean" which means even if you you start from small amount with span of time it will get bigger.

Smart people are those who balance their earnings and expenditures and still make a savings out of it. How much you earn does not matter, what counts is how much you can save without hurting much.

Before anything, make a budget, plan your expenses, maintain a diary if you tech freak download some apps which will help you to keep track of your expenses.

We generally tend to ignore small amounts which could lead us to huge amount at the end of the period.

Here are 10 Money Saving Ideas Which You Should Not Ignore:

Budget on Groceries


Plan your budget and make a list of things on groceries, or else you end up buying unwanted things. Making a list always helps which will help you avoid unwanted things. While making list one should consider festive season or inviting guest.

Compare online and offline rates

There is some difference when you buy online or offline. Compare things which you want to buy and which one are offering more discounts.

Save on Medicines

Try to get your medicines from Med plus or Apollo Pharmacy where they give you some discounts on the bill.
Another advantage of buying from the pharmacy is, you can track your medicines and download the list if needed from the login ID they provide. The same can be submitted while tax filing.

Plan you Luxuries

If you really need a break, planning for dinner or movie do not just hop in. Check few websites which provide you with list of information on discounts offered by restaurants.

Before movie booking check whether the operator is providing any offers on any cards as they have tie up some banks.

Check for offers

If you are planning to buy something big than better to wait for offers which will available on account of festive seasons. As many electronic devices companies come up with huge offers during festival, and some come up with exchange offers.

Sell Unnecessary Items

This is one of the best way to earn money, one can sell some unnecessary items and make money out of it. However, one should have to make mind to sell it.

Avoid credit cards

Yes, this a most common tip which everyone tends to give. If you are finding it difficult try using lower limit credit card.
The main aim to avoid credit card is not to make unnecessary purchase.
To Save more from credit card, keep track on your credit points make use of it whenever necessary. Make use of card where there is no surcharge applicable such as fuel stations.

Avoid Car and other luxury items

Wherever possible, take a bike instead of car. Taking a walk is beneficial in many ways. This small steps will save your fuel payments and increase your health.

Do not keep your money ideal

Put your money to work, make investment of your savings. Many banks offer Auto Sweep facility which means if your account reaches a stipulated amount it automatically books the fixed deposit.
One can benefit from interest rates provided by banks on FDs.

Increase Your Financial knowledge

Yes, being updated with financial news, will help you in many ways as you will be aware of increase or decrease in bank deposits or any good offers on debit and credit cards.

Before buying any financial instrument, read the document carefully and make investment wisely.

Read more about: savings, investment
Story first published: Monday, March 23, 2015, 9:12 [IST]
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