• How to Save Money: Some Super Simple Tips to Get You Started


    Turning the things in your favor isn’t always possible. At the same time, we all want to enjoy our life to the full. That being said, stashing away some money for rainy day is crucial. Read on the blog to know how you can do it easily.

    1. Frame Your Budget: According to a recent banking survey, near about 41% people make budget and stick to it. To create budget, list your compulsory monthly expenditures. Set aside some money for miscellaneous expenses too. Once you calculate the total budgeted amount, you can find out your monthly savings.

    2. Track Your Expenses: MoneySmart says that while people focus on saving more from big things, little things also, sometimes, compel us to spend more. Therefore, tracking your day-to-day spending is significant. Get your bank statement and compare it with your budget to determine how much you’ve saved and how much you’ve spent.

    3. Set Money-Saving Goals: Realize your dreams. Keep aside some money to fulfill them. As for instance, where would you like to visit in vacation? Calculate your total trip cost in advance. Keep some money aside from your monthly income for that. In the same way, you can meet your other luxurious needs.

    4. Never Waste Groceries: Americans waste near about a pound on food by throwing them into trash. Instead of wasting, buy only what you need. Check the expiry date before paying. Buy products that you can keep for long. Make sure that you’re not wasting bucks on groceries and they’re being utilized fully.

    5. Avoid Paying Bank Fees: Don’t ignore your bank fees. Plan cash withdrawals properly to avoid paying the extra charges for ATM transactions. Maintain your bank balance to meet the minimum amount in your savings account as per that bank’s rules and regulations.

    6. Clear Your Debt: To shrug off the debt responsibility is almost impossible. You’re bound to pay it legally sooner or later. If you’ve lots of debts to pay off, start paying the lowest ones first. Pay consistently to reduce your debt.

    7. Set Up Automatic Savings: Someone has rightly said, ‘Out of sight, out of mind.’ Automatic savings exactly do that. Ask your employer to deduct a certain amount from your salary monthly and keep it in your savings or retirement account. You can also ask your bank to put certain amount of cash every month from your check to your savings account. This is also a cost-effective way to save.

    8. Create an Emergency Fund: Emergency funds can save you a lot in unwelcome situations. Just invest every month there and forget about it until emergency comes.

    9. Go for 24-Hour Rule: It will prevent you from impulsive buying. Take hours to find out the non-essential items you’ve bought. This rule work perfectly for online shopping. Go on adding the items in your cart you wish to buy later. Calculate the total amount. Get back to that after a few days. You’ll find that there are many items in your cart which you don’t like to buy.

    10. Check Credit Score for Free: Use your annual free credit score to find out how you can improve it. Get the report from the three major credit reporting bureaus. Your loan providers and other sellers consider your credit score to determine your eligibility to buy their offerings. As for instance, if you’ve a low credit score, you’ll have to pay $5000 more for your 1year car auto loan than a person with a good credit score.

    11. Look for Discounts: When it comes to entertainment, prowl for discounts. Look for free days at national parks or museums to bring down your entertainment expenditures. Military professionals, students, and seniors are likely to get discounts. Research online to grab such lucrative offers.

    12. Change Your Mobile Plan: Your mobile phone bills can go sky high. As such, tracking your talking time is important. Or, you can switch to some other plan that seems cost-effective to you. In this regard, your cell phone connection provider is your well-wisher. Gather info about different kinds of plans to make a smart choice.

    13. Refinance Your Mortgage: Snag a low interest rate with mortgage refinancing. This is an amazing way to save huge dollars monthly. But you’ve to be well-organized to increase your savings. For that, keep an eye on your credit card score. Also, avoid getting trapped into a new debt. Calculate your savings with the help of mortgage refinance calculator.

    14. Get Routine Checkups: Routine checkups help you to know the disease beforehand. As a result, you can get the treatment earlier and save huge cash by avoiding high-cost medical treatments that are mostly given at a later stage of the disease.

    15. Compare Auto Insurance Rates: You’ve to renew your auto insurance policy annually. Prior to renewing it, find out the rates of other auto insurance companies. Switch to the one offering the lowest rates.

    16. Consider Unit Price for Shopping: Numerous grocery stores shelf items on the basis of cost per unit. The price of these items are calculated as price per pound or ounce. Keep the price stickers of such items aside and compare the price while buying such items again. 

    17. Don’t Keep Lights On Unnecessarily: Turning on the lights unnecessarily for hours can cost you huge in the long run. So, when you’re leaving a room or house, remember to turn off the lights and fan. Don’t switch on the lights when it’s sunny outside. Rather, move your curtains aside and make the rooms airy by letting the sun rays in.


    Savings start with a little initiative. You’ve to stay motivated to go on savings. All the tips discussed above are easy to follow. Savings each month is crucial to make it big in the future. Stop spending unnecessarily. Make sure you remain stick to your budget. Always, go for comparison shopping. Cut down your utility bills too. Doing all these things will surely help you.

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