A Person cannot always in situation where he/she could earn money but defiantly could save money with few easy tips if followed. Thus it would not be wrong to say saving money is nothing but few initiatives on our part.
It is never easy to read others mind, but it is often seen that what so ever rich a man even small tips to save money has worth as per the need of different human need.
We shall be discussing few simple and unique tips to save money during our discussion. Trust it would catch your eye and will make you to think.
1. Avoid using public transport for small distance: It is normal tendency of human being to use public transport such as rickshaw, auto etc. for even a small distance. Try to walk around for going for small distance this could also help us to maintain health and save money.
2. Enable Auto Sweep in bank account: Everyone has bank account of their own. Particularly in case of saving bank account of salaried person lots of money remains unused and thus earn normal saving bank interest i.e. 4 % P.a. Auto sweep facility enable one to enjoy facility of saving bank account with their money in account earning for them @ fixed deposit interest rate i.e. around 8-9.25%. This facility is available with most of the banks including PSU's with different name. One can really earn extra money using this facility.
3. Always do plan shopping: Life has become so busy, human being do not find time for themselves. It is always advisable to go for plan shopping instead of haphazard one, therefore before going out for shopping makes it planned by making list of your requirements.
4. Planned travelling: whole idea is to travel smart i.e. pre plan your travel and get your ticket booked earlier this will help to save ‘tatkal charges’ if travel by train or high air fare if travel by air. Instead of booking through broker make use of fare finding web site and discount air charges. Also join hotel reward program to earn more reward points.
5. Value for money buy: Do not be extravagant when you buy there is nothing to show off always hangs around with value/ worth purchase.
6. Pool your car or use bike: This is particularly for office person, always try to pool your car with your office colleague to save fuel cost and try to use your bike instead of car where ever possible to save fuel cost.
7. Use paper both side: If you are running office always ask your employee to use paper both side and get print both side. This will help you to save money and will also contribute towards environment.
8. Use of Credit Card: In today’s market lots of life time free credit cards are available in market which gives credit for your shopping for around 50-55 days. It is advisable to use at least one credit card which has lower credit limit say up to 25K to cater your monthly needs. This credit can be use and interest for that period can be saved. More ever some credit card offer reward point with each Rs. 100 spent and some credit card give discount up to 10% on dinning, movie etc.
9. Buy generics/store brands: Instead of always going for branded purchase one should also try for generic purchase.
10. Use your library/E Book: Instead of buying books one could use facilities of library. You can also get movies, read periodicals, and even check out other media in some cases. Many libraries are also lending eBooks.
11. Refinance your home/ Buy Bank Loan: One could take advantage of volatile market by refinancing there existing loan with lower interest options available with other bank. This could be helpful in saving around Rs. 5000 monthly.
12. Buy a late model used/lease return: Instead of buying a brand new car, you can consider buying a late model used car.
Note: We have just expressed our suggestion. We shall not be responsible of loss to any one going forward by our advice.
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