How to save money? You are probably searched by many people on Google, no matter what your financial stature is. Earnings and utility differ from man to man, but there is hardly any person who is not interested in learning about ways to save money. Interestingly, it is human ingenuity that allows you to discover the best way to save money from your own financial situation.
How to save money?
If I ask you how to save money OR I would be confused or overwhelmed with hundreds of ideas to save money. There are some common ways to save money applicable to the masses and there are some unique money saving ideas researched and applied just to you. Things are good and effective as long as you apply their tips and tricks correctly. Here I am listing 25 Realistic and Simple Money Saving Tips for Readers. Keep in mind that all of these money saving tips may not have the biggest life implications, but some of the money saving ideas listed below have a qualitative impact on your pocketbook.
25 realistic tips to save money
1. Accept Gold Check Payments Online:
This is one of the best ways to save money. It is a human tendency to spend more with cash than with a bank account. Research shows that it is more inconvenient for a person to withdraw money from the bank or buy goods with cards than to use cash. So this is the best way to save money for those who have an irresistible tendency to spend cash.
2. Opt for exchange programs:
Before buying a new durable or capital good like electronics, appliances, go sell the used one. There are many sites that help you sell your old products through advertisements like OLX, Quikr, etc. Now product sellers also offer exchange programs. Online shopping sites like Amazon, Flipkart, etc. They are giving their buyers opportunities to exchange their old products for the new product. Selling or exchanging the old products definitely reduces the cost price of the new one.
3. Consider buying cars at the end of the month:
If you are planning to buy a car, this is the best way to save money. How? In most cases, in the last week of the months, sales reps and car dealers are under pressure to achieve their goals. They are desperate to sell cars to customers who offer good discounts or sell auto accessories at no cost or at a deeply discounted price. In this way you will get your car at the most advantageous costs.
4. Don’t jump the gun:
If you see a billboard for lucrative products or offers, don’t go shopping right away. Keep your mind and think if you need it. If it is your requirement, what is your budget? If you hold your purchase for a day or more, you may be able to perform the cost benefit analysis of the product. This way you can save your money on unnecessary purchases.
5. Go for the list while shopping:
Whenever you go shopping, make a list of your needs in advance. You may be wondering how to save money by going with a list. If you buy by list, it is possible to stick to the budget. Plus, the list helps you shop faster than without a list. A study shows that if you buy quickly, you are very likely not to make unnecessary purchases.
6. Avoid going out with friends, invite them:
Many of us face this problem. When you go for a walk with friends, it is not social for you to refrain from contributing. Also, taking food and drinks to restaurants and bars is not cheaper than what you have at home. So instead of going to restaurants and pubs, invite your friends over to your house. This is the best way to save money for those who are interested in maintaining social media as well as concerned about how to save money.
7. Use LEDs:
I will keep this within the best money saving tips. Instead of using incandescent lights, you should go for CFL, LED. They are highly energy efficient and reduce energy bills considerably. These new technology lights even have a longer life than traditional ones. By using LEDs and CFLs, you can save both maintenance and durability.
8. Perform periodic maintenance:
If you are using various electronic devices such as air conditioners, washing machines, water purifiers, etc. it is better to carry out regular maintenance. The same should happen with your car as well. By performing regular maintenance, you have to incur maintenance expenses that are much less than the major repair or overhaul expenses. At the same time, if your household appliances or cars are under regular supervision, it also improves their longevity and efficiency level.
9. Sell your old books:
These money saving tips are especially for students and parents whose children have passed out and have a pile of books covering a considerable space in their room and want to evacuate them. There are several sites that buy used or old books from us and pay accordingly. One such site is BookScouter. This looks for the buyer that best matches our old books.
10. Rent your extra space:
If you have a large house and leave a part unused, it is advisable to rent it and earn some extra money to cover household expenses. There are some companies that take your property on agreed terms for a specific period and turn it into a homestay. Some of these companies are Airbnb, Oyo Rooms, etc.
11. Take tiffin from home:
If you want to learn the ways to save money, this is one of the effective ways to save money. First of all, your savings start when you bring tiffin to your workplace or education and avoid the canteen or outside foods that are certainly more expensive than homemade foods. Next, the savings are related to your health. By abstaining from outside food, you are indirectly reducing your medical bills.
12. Use public transportation or carpooling:
If your circumstances allow it, it is a good decision to go by public transport. Using public transportation is much cheaper than using a private car. Also, if you and your neighbor or colleague have a common route to work, carpooling is a good option. Things can be done on a rotational basis. This saves money and also the climate.
13. Pay your debts on time:
Try to pay your debts ahead of time. Whether it’s the credit card bill or the interest on the loan, paying on time not only saves you additional interest and penalties, but also gives you high credit worthiness. You can also make arrangements with the bank for automatic debt payments. This is also a great way to save yourself from the debt trap.
14. Eat less meat:
That? Yes, you read it right. But how do you save money by consuming less meat? Well this is simple. If you eat less meat in your food or go vegan, the direct hit is in your pocket. Animal proteins are more expensive than vegetables. But it has a much bigger impact on your health. Researchers found that a large intake of animal protein in our food has an adverse effect on our health. A non-vegetarian is prone to decrease more compared to a vegetarian. And today health problems cost us a lot.
15. Withdraw money from the ATM of the same bank:
This is a simple but effective money saving tip to follow. As you know, if you withdraw money from an ATM from other banks (where you don’t have an account), after a certain number of transactions, the ATM bank charges additional transaction fees. Therefore, whenever possible, make ATM transactions only with your local bank.
16 Try to buy airline tickets on the company website:
Whenever we travel on flights, we make a comparison through the Internet by reading rates and services. There are many online travel sites that give you the freedom to compare flights from different companies on the same platform. But I would suggest that instead of buying the tickets on their sites, it is advisable to go to the native company’s sites. The charges would certainly be lower than the previous one.
17. Save at home:
Make a piggy bank at home and save as much as possible on a daily basis. Even ask your children to do the same with your pocket income. It instills the habit of saving in you and your children and creates a fund over time, useful at the time of your emergency.
18. Find a roommate:
If you live in a rented home and are single, this would be the best way to save money. If you have a roommate, you can save not only your share of the room rent, but other household expenses as well. In addition, you and your partner can share the daily housework, to make life less stressful.
19. Keep your home clean:
This is one of the good money saving ideas, I think it works very well. When we keep our house clean, it directly affects our health. In addition to that, when the house is clean, it indicates that our staff inside the house is also willing. This will help us find our necessary items at arm’s length. Loss and unattended staff left us with no choice but to find a new one, which is generally avoidable.
20. Buy above or below eye level:
Marketers are smart. They place high-value items at our eye level. So try to buy products below or above eye level. In this way, you can save a lot of money while shopping.
21. Take out medical insurance or mediclaim:
Whenever you feel with your financial budgets, you should include health insurance in it. Medical bills are capable enough to shake your financial stature. It would be really foolish to take a chance and not buy health insurance or a doctor. By paying a small amount of premium, you and your family will save yourself from financial risk.
22. Make your own beauty treatment:
Beauty salons and salons are getting more and more expensive. For women, performing basic beauty treatments such as manicures, pedicures, facials in salons is very expensive. Rather they can try things at home. There are many good video instructions available on the Internet to help a person do self-care. In the case of men, it is advisable to save at home with your own savings kit.
23. Use phone protectors:
This is a small but effective money saving tip. Since we all use cell phones, we know how often it falls out of our hand. By incurring a small expense on phone bodyguards and tempered glass, we can save hundreds of dollars.
24. Use low steam for cooking:
This is one of the ways to save money at home. Instead of using large flame burners, be careful to use small burners. Additionally, simmering and cooking in covered utensils saves a considerable amount of fuel in the long run and therefore saves money as well.
25. Don’t look for brands:
If you have an obsession with brands, these money saving tips are certainly not for you. Believe it or not, if you’re looking for value for money, there are a number of unbranded products that offer the same quality of service minus the cost for brand equity. This is quite visible, when a reputable company pays a large amount on TV commercials, billboards, etc., isn’t it to recoup the cost from somewhere?
conclusion
When looking for ways to save money, you may come up with a lot of money saving tips. But things will be effective when you apply them properly in your daily life. Remember, the suggestion works for others, it may or may not work for you. You must choose the best way to save money with the wealth of money saving tips.