How to save money: 10 ways to save money

Now I am going to tell about how to save money. All people will earn good but most of them don’t know about how to save money. Therefore saving money is very essential in our life because of future risk which is uncertain. Here I have share my knowledge in 10 points .i.e. how to save money easily. Let us start.

1.   Make saving a/c in bank:

First thing what you have to do is open saving account in any bank. If you have saving account then automatically it will become habit to deposit money in your saving account. Just deposit minimum amount monthly and don’t withdraw this money until it gets big amount.

2.   Purchase in bulk:

While you are purchasing don’t go for single purchase you have to purchase in bulk quantity. If you do so then you can get some gift vouchers, or you may get discount offers or one get one free offer. From this you can save little money.

3.   Cook  yourself :

Cook yourself is nothing but don’t go for hotels, restaurants which cost you highly. You can prepare your food at your home then you can save money instead of paying outside. Even you can get good health too. It reduces doctor’s consultation etc.

4.   Pay off your debt as soon as possible:

If you are in debt then you having to pay debt first otherwise you have to pay interest for that. It cost you more and more. It will be burden on you. If you clear your debt then you can start saving money.

5.   Avoid ATM:

ATM is easy method to withdraw money anywhere. If you withdraw through ATM then some banks charge on this facility. To avoid this it is better to withdraw through bank only. From this you can save that charges.

6.   Sell unwanted things:

If you have so many unwanted things in your house then try to sell that from that you can earn some money and you can save for a while. As it keep clean you house and savings also possible.

7.   Don’t go for luxuries:

If you go for luxuries then it’s impossible to save money.  If you avoid this luxury item then at least you can save some amount of money. These luxuries are wasteful. It suits only richest people and not for middle and low level people.

8.   Reduce shopping :

All women will be having craze on shopping. They visit each and every mall in the city. And they will buy everything in the shopping mall even which is not required for them. If you avoid shopping craze then really you can save some money for future.

9.   First save next spend:

Whenever you earn money from some sources then first you have to save some money and you have to spend on remaining amount. Expl: if you earn Rs.100/- then first save 10 or 20Rs. Then spend remaining amount.

10.                Go for tax benefit:

If you earn money from any source then from some source you have to pay tax. So if you go for tax benefit which is exempted then you can save some money.  Like EPF and PPF are eligible for tax deduction.