Introduction
In this world, Everyone are going work for Money. Many peoples are makes Money for Food, Travel expenses, Entertainment, Medical Expenses, Monthly Bills everything needs Money and also need Saving. So earning money is not a easy task. Working full day for the monthly salary, If we take for a sick leave or any reason we don’t have that day’s wages. Spending Money is easy, But earning or making money is not easy. No matter how many ways you earn money, You must learn how to save the Money. Here are some Extraordinary Tips for Saving Money.
#1 Table Your Expenses
If you are not find where is your Money is going, you can’t make Saving. On the starting of month notice that, when your salary is credited. Note down your monthly payment statements. Calculate your Bills, and Online Payment Statements. Balance your account with Credit and Debit details, And create your own Statement. Reduce your Unnecessary expenses. Plan your monthly expenses details and EMI details and calculate the total amount of expenses.
#2 Follow the Percentage Ratio for Saving
If you planning for Savings plan, Must create your own percentage rule and strictly follow it.
1. Basic Needs 50%
Whatever you are a Bachelor or a Family Man, To run your life the Basic Needs are Mandatory. Everyone needs a living place for rent or own. If you have a own house no need to pay rent. But if you are a Rental person allotment Seperate amount for your Rental Charges. And the next thing is Food, Bills, and Groceries. Work, travel and the all things are secondary, Food is the first Need for every persons. You need to Spend the specific amount for the Food. Better way is Cook the food at home is better for you. If you are planning to Cook in the Home, the Groceries are Mandatory for Cooking. Allot some basic amount for the Groceries.
2. Entertainment 20%
Everyday we are going to work for earn money. But after end of the day we need to come out from work pressure and stress. So everyone wants some Entertainment to forget the Stress and work pressure. But every Entertainment things require money. Example, We all are like to watch TV, this is one electronic material requires electricity power, and it requires some of additional charges like cable. Nowadays days so many OTT platforms are available for the entertaining purpose. These all things are have some expenses. TV is one of the Entertainment only, so many things are available for entertainment, But all are you need to spend some amount of money. Like gaming consoles, watching movies on the Theatre, outing with friends these all are well known entertaining things. To the extent possible reduce this expenses.
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3. Investment 30%
If you think about it why do we save money? Everyone’s basic answer is for the Future. But so many people have no idea to how to save the Money. Nowadays so many schemes are available at online and offline methods, you need to choose which one is comfortable for you and Start your Investments. If you are choosing online platforms you need to know some important things. After you get the clarification about the online investment methods try the basic schemes like Mutual Funds, SIP, Digital Gold, Wealthy Stocks for Long term consider these schemes for online investment. Or Alternatively you are planning to invest in offline methods some here some offline schemes are mentioned below. Post Office schemes, Chit Funds, Real Estate schemes are available at offline methods.
#3 Stop the Unnecessary Membership Plans for Saving
Savings is not a easy task from our routine Lifestyle. Most of the people spending more money for unnecessary things. Like useless OTT platforms, Gym Membership Plans, Recharge plans, Premium Apps. The above bills are useful, If you are using these things regularly. But if you are working person you not have enough time for enjoying these above things. So without any doubts stop this unnecessary things and charges to saving your money. Try to use the Free cost of Apps and Membership Plans. At the online mode so many free apps are available for our usage. Specifically the Premium Apps usages are very low. Try to Avoid this monthly charges and bills, After this restrictions calculate the saving amount from this source and start to save the Money.
#4 Loans and Interest
The Big problem in the Savings is Loan and Interest. Unfortunate Times and the Emergency situations we need take the loans at high rate of interest. At the time without choice we need to take this step to we want money at the Emergency time. At the starting stage of the EMI We think it’s a small amount from our monthly salary. But the interest ratio is higher than we expected ratio. If you are planning for Savings, try to pay off the High Interest Loans. This is the great choice for avoid the huge amount of EMI’s. Unfortunately you miss the EMI date, you need pay bank bounce charges and penalty charges, So try to sort the huge amount of Loans and Interest, it makes you to better way for Saving and Investment.
#5 Reduce the Monthly Bills and make Saving
The Basic need for everyday is two Basic Supplies. That two things are Water and Electricity Power. Specifically water is one of the inevitable thing. Drinking, Cleaning needs, Washing everything needs water. But unnecessary usage of water is cause to unexpected Bills and charges. To the extent possible reduce the usage of water. And also the same is Electricity, the Mandatory is avoid the Unnecessary Electronic Products. Like Fans, TV, Washing Machine and Chargers everything is need Electricity. As much As possible reduce the Unnecessary usage of Electricity. Alternatively use the low power usage Electronic Products. It is the main part of Save the Money, Small changes and savings are makes the huge amount of Savings.
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Conclusion
Earning Money is the Mandatory thing for everyone’s Life. But the Savings is the Strong Basement for the Wealthy future Life. Spend money for only for Essential Requirement not for the Luxury Life. If you want live your life without expecting anyone you need develop the think about Savings.
