4 Simple Habits on How to Save Money in 2020

4 Simple Habits on How to Save Money in 2020

 

Money is the most important thing in the world if you are very materialistic. It is hard truth that we all re materialist. Anybody cannot deny the importance of money. We can do anything to save money. 

And remember, savings is the most essential thing in our life. Here I am telling you 4 most important tips to save money. Read carefully, till the end.

1. Do a survey:

Always do surveys before buying whether it's online or offline. You should spend time to do this but it would not be a waste of time. You can save dollars and lakhs of money by doing this. 

In your local markets or shops ask the price of your product. You can get a range by doing this. Now, go to another market and do this. Ask your friend who brought this earlier.

Next, you can compare online and offline price.  You can find many online markets which give you less price. 

Read the product review, warranty, shipping charge, etc to know the genuineness. Find some coupon for online markets. 

You can find a coupon for everything from recharge to hotel and air tickets or you can get cashback offers. Thus, you can save a lot of money. Moreover, you do this very easily, by sitting at your drawing-room.

You can use your online transaction method through debit cards. But remember, you need to have a phone number for your bank account and another for your regular use.

2. Save in the bank account and share markets:    

Save your extra money in a bank account. You have to make sure about the authority of the bank. Save as low as possible in the first few months but make a habit of it. 

You can use your preferred online banking mobile application and websites.   You can save it in cash in your home but that will not pay you interest.

Secondly, it was an old custom to save cash in our home.  Surely, you should have cash in your home but not for savings. 

Learn to earn extra by doing nothing through interest rates and share markets, mutual funds. For, share market and mutual funds you need an expert and he will demand his charge.

Nonetheless, you can earn extra money by doing nothing on your own. It is a very simple trick that most people fear to face because of market risks.  If you think you can do it alone. 

I suggest, ask an expert first. Don’t do that alone. We have experts on this. You can contact us through our email id for any advice and suggestions. We can definitely help you without any service charges.   

3. Pay all the debts

Pay all the debts you have otherwise you have to pay the interest rate and it will be a headache for you. Pay your loans and debts as quick as possible. You can read our article on how to handle the pressure of bank loans. 

But one the thing, you have to keep in mind that having debt is a very bad habit. Do not do it for your expenditure.  

Better, earn more by engaging yourself in extra work; request your family members to engage themselves in earning money. 

4. Control extra expenditure

You have to think before you pay. Thus, you can control extra expenditure. Through the online transaction, you can’t analyze properly how much amount you are spending. 

Actually to spend any amount you just need 3-4 clicks or steps. That’s it. But you have to analyze it properly in excel or in a paper sheet.

Cut extra expenditure for next month. Try to save as much as possible. Avoid any surprise party, gifts, movies with popcorn and that entire entertaining media to save money.   

Maintain a budget for you and your family. You can analyze how much you are spending and how much you are saving. Make a graph of that.

Thus, you can save money very easily for your house, college or office. Moreover, you don’t need to change a lot from it. Just need planning to do this. If you have any query or other tips, suggestions on how to save money; you can comments below.

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