Fast and Easy ways to Save Money With These Easy Tips

How much of your monthly salary do you save? Do save at least a fraction of it or do you go broke like most people do by the end of the month? Savings is something that our parents have ingrained in us since we were kids, yet it is the hardest thing to do. As soon as you have money in your bank account it just seems to flow, like how beer flows when you are out with friends and before you know it, it’s all gone.

If we come to think of it, savings can help you fulfil things you have always dreamt about. Ever dreamt of buying a car? Let’s go smaller for the younger generation, how about a PS4? Buying a car needs some serious savings and paying EMIs monthly for a long time. But in the case of a PS4, you just have to cut down on a few unnecessary spendings and within no time you’ll sitting on your bean bag and can enjoy your favourite game on your brand new PS4.

We’ve enlisted a few ways to tweak your budget which will help you save thousands if not hundreds on your annual bills and in turn make you rich!

1. Bill Payments:

• We all forget to turn off some switch or the other all the time and this, in turn, comes back to bite us.
• Some things that you can do to save money and electricity are; never stuff your fridge and defrost regularly to save power, the AC outdoor unit should be kept away from the Sun and clean the filters often as this helps the AC run better and consume less power. Setting the AC at 25 degrees saves almost 5% electricity, and you can save 50% power by planting trees to shade your house.
• Imparting a few of these into your daily activities can save you up to Rs 500 per month.
• Mobile, Broadband and DTH services: Our phones are always in our hands ready to do some task or the other; this also means we spend a lot of talk time recharges and internet packs. Some ways to reduce our monthly bills are, by shifting youngsters to prepaid connections and adults to postpaid connections.
• While making an international call use maybe Skype or Whatsapp or maybe even Facebook.
• Televisions are another thing that we can save a lot on since the DTH services have entered the picture we tend to go for the most expensive pack with all the channels covered in it. So go for the right package and get the channels you need, activated, this will help in saving at least a few rupees.
• Decide the kind of internet plan you need for your house, whether you browse a lot or use internet on a limited scale.
• So if you don’t use the internet much, you should shift from an unlimited plan to a limited one.
• These small changes will help you save up to 400 rupees every month.
• Using online wallets like Mobiwik, Freecharge, Paytm for bill payments and recharges is another amazing way to save like Paytm coupons on electricity bill payment, Mobile and DTH Recharge.

2. Travel:

• Most families in India own at least two automobiles, a four wheeler and a two wheeler. So a lot of money is spent fuel and transport. With the cost of petrol and diesel rising day by day, commuting by car or bike burns a hole in one’s pocket.
• Sure shot ways to reduce spending on transport and fuel are, carpooling, using public transport of shuttle busses provided by the office.
• Carpooling is also a great way to build rapport with colleagues or people living in your area.
• When you do use your car or bike try maintaining optimal tyre pressure as this affects fuel consumption and changing gears too often is also affects your car performance.
• Try using cab sharing options like Ola Share and Uber Pool as well instead of hiring a taxi for yourself, you will naturally save money and will get a chance to meet new people too.
• Travel also includes going outside the city, flights, trains and buses are getting costlier by the day and during the festival season it is plain madness.
• IRCTC, MakeMyTrip, Paytm and RedBus are great ways to book your tickets whenever you are travelling these sites and apps give discounts and cashbacks on every ticket booked. Like Makemytrip app offers Rs. 2000 cashback for first time users.
• Try looking for a few more ways to save by using the Debit or Credit card of a bank which has an offer.
• You can save up to Rs. 800 by using public transport twice a week and we can save Rs. 500 by optimising fuel usage, which means you can save up to Rs. 1,300 on monthly travel expenses.  

3. Grocery:

• Despite shopping for groceries at the start of the month we always go back for seconds, like we do when at a buffet. Why is that? Because we thought the first time that much was enough to last the whole month.
• There is not much we can do when it comes to vegetables as they perish faster than grains.
• Few ways to spend less on them are shopping at weekly markets as they are a lot cheaper than buying from supermarkets and street vendors as prices are lower at weekly markets. So whenever you get a chance, go check out that Sunday market and pick up all the fruits and vegetables, you need for the week.
• Buying non-perishables in bulk helps save money and you will have stock as well and won’t have to run out and buy it again. Try buying loose grains, pulses and cereals instead of packaged variety, as they are 10 rupees cheaper.
• Store brands are also way less expensive than high-end brands and are almost 70 to 100 rupees cheaper.
• Shopping online for groceries is a new thing, but has had a meteoric rise of BigBasket and Grofers these stores offers coupons which you can apply to get your bill amount reduced.
• Using these simple tricks, you can save up to Rs. 1000 on a bill worth Rs. 8000.

4. Entertainment and Food:

• We love splurging on food and drinks don’t we? Even on movies too, every new movie that hits the theatres is something we want to watch and enjoy.
• There are a few tricks to save money in the entertainment section as well, instead of going out to eat, order in through food apps such as Zomato, Swiggy and FoodPanda and enjoy delicious food at home. Use coupons to get cashback and discounts.
• If you are going out with your buddies, pre-drink at home before you leave, because alcohol is naturally costlier at a bar or pub than when bought at a wine shop. Do check deals from little app and nearby for saving money.
• Watching movies over weekdays is much cheaper than on weekends, ticket prices on weekdays are almost 100 rupees cheaper than on weekends.
• Using these tricks, you can save over 2,000 rupees on your monthly entertainment bill.

5. Pay by using online wallets:

• Online wallets are the in thing now, and they offer great deals and discounts and cashbacks as well.
• Use these wallets for all your daily activities such as paying for groceries, the internet, DTH services and mobile bills through e-wallets.
• Also using wallets such as Paytm for taxis, movie tickets, train and flight tickets helps save a lot of money.
• Checkout for wallet offers as they at times gives up to 20% cashback on online shopping.

6. Bank Offers:

• Whether you are shopping online or offline check offers for the debit, credit card you have like recently when iPhone 7 launched there was exclusive offer only with citibank card wherein you get 7000 cashback.
• Banks mostly give a minimum of 8% and go up to 15%, and there are also added bonuses such as cashbacks if you use a particular card while paying a bill or purchasing something.
• So see which bank is offering the best deal and use that card otherwise ask a friend who has a card from that bank and make the most of the deal.

7. Cutting down on smoking and work lunches:

• This next point also has a health benefit along with making you rich!
• Cutting down on your tea and coffee intake along with the number smokes you have per day.
• Carry lunch from home as it is healthy and you prepared it on your own.
• If you smoke five to six cigarettes lesser a day, you can save upto 75 rupees a day, worth an effort?
• By carrying own lunches, cutting down on unnecessary coffee and teas and smoking fewer cigarettes a day you can save up to 3,000 rupees a month.

These are just a few ways of saving money, but in the long run, they will help get rich and buy things that you’ve always wanted. If we save at least Rs. 10,000 a month and invest them in FD’s or mutual funds which offer somewhere around 9% interest on them, you are guaranteed almost 40 lakhs at the end of 15 years. And wouldn’t want so much money to sit on? Yes, you would, so use these tricks and get saving.