Everyone thinks of saving money fast because none wants to have an uncertain future. Money is the only thing that can keep you from most uncertainty. However, if you see naked eyes, you will never find a way of saving money quickly. But if you follow some structured rules, you can save a large amount of money. Here I will discuss the easy ways to save money in this article.
Saving money is saving an amount from your total and growing it. To have an increased amount of money, firstly you have to change some of your habits, and then deposit or invest it into different sectors.
How to Save Money Following Some Easy ways?
What is the life of the easy ways to save money? Are there any big secrets? No, but there is some unique financial structure which you should be following thoroughly. Here is the first step.
- From your total income, spend on the most needed things. Keep the other portion aside.
- Maybe you are leading a very joyful life, and you spend much of your money on entertainment such as watching movies, buying DVDs, etc. It would help if you now pay less, or in other words, spend when needed.
- Leave all bad habits like smoking, taking drugs, or alcohol.
- Save your automotive costs. Buy secondhand cars, and also take those fuel efficiency cars. It will save you money.
- Less personal expenses will give you a great way to gather money.
We are done with the first step. Now the second and final step comes. I would name this step the investment step. At first, I mentioned that saving money does not have any value if you do not grow it. Money has depreciation. So, over time the saved money will lose its weight. So, what to do now?
Every month, a portion of the money was left after spending on essential things.
- Invest in the capital market instruments for the long term. Let’s say for ten years.
- Do part-time trading in the Forex.
You also can invest in gold which will help grow the money
At last, I would say if you want to save a significant amount of money for your future, follow the steps of “easy ways to save money.”
6 Easy Ways To Save Money Fast
Transportation: Use public transportation as it allows you to travel at a cheap rate. Check all the updates available on public transportation websites to know the recent changes. Use the roots, which is a shorter one; by that, you will save both money and time.
I will not recommend using a bicycle because it will kill your time, which is essential in life.
If you have care, use the cheapest gas available for your car.
Foods: Do not eat foods here and there. Make a schedule of taking foods at three different times in a day. Firstly it’s a money-saving way, and second, it’s good for your health.
Buy foods at a bulk quantity, allowing you to take advantage of lower costs. Cook your food by yourself. It will save you extra costs.
Shopping: By shopping online, you will firstly save your transportation cost and save your time. You can also sell your old clothes and make some extra bucks to allow you to bear the future costs of your clothes.
Buy bulk when shopping from malls. Shop with all of your friends together that will allow you to buy bulk quantities at a lower price.
Buy deodorant instead of perfume.
Conduct a Research: Before buying anything, research your desirable product. It will allow you to gain extra knowledge about the product, and the possible prices. Compare prices of the same product with different brand names. Choose the correct one.
The same things apply to everything needed in your life.
Household expenses: Minimize all unwanted phone calls and SMS. Do not spend a significant amount of time talking about unnecessary subjects. By avoiding this, you can be more productive as well.
Do the household works on your own: Be more efficient in using your household resources such as printers, gas, electricity, water, air-conditioner, etc.
Finally, I will recommend you deposit. For that, open a bank account to deposit your money. It will grow gradually in time.
How to Save Money by Cutting Your Monthly Expenses?
Leave expensive habits like alcohol, cigars: Not only will this help you get good health, but it will also help save a considerable amount of money. These are the kinds of habits to which people become addicted mentally. You will save a tremendous amount of money if you leave those bad habits.
Save Electricity: It is an excellent habit to switch off the lights, fans, etc. after your works are done. Make it a good practice; you will have your money saved. Use those bulbs, fans that consume less electricity.
Keep Your Credit Card In A Secret Place: Keep it in a secret place. Please do not make it available for everyone to use. By that, you will save a sum of money which could have been spent without any reason.
Compare Prices While Buying: Compare prices in different grocery shops. By doing this, you will know the exact costs of goods.
Eliminate Membership Of Clubs In Which You Are Not Regular: By doing this, you can save your money.
Make Habit Eating At Home: Do not go for fast foods or reach food often. If you already have this habit, try to change it. And try cooking foods at home.
Choose Term Life Insurance: Another way of saving money. Insurance is not a proper investment. So, choose the term insurance, and invest the rest of the capital.
Check Fuel Efficiency while buying a car Or Bike: Check the mileage of the car or bike of a liter of oil.
Forget About Market: Do not go to the market for shopping frequently. If you buy things you do not need now, you will not buy something you will need in the future.
Keep A Note Book: Always keep a notebook with you. Make a budget for your potential spending, and note all you have to spend. By practicing this, soon, you will prioritize your most needed things.
Try A Shot To The Broken Things: If anything is broken, do not buy a new one in the first place. Try to repair it instead.
Use Pressure Cooker For Cooking: You can use a pressure cooker. It takes less time and, as a result, saves your electricity or gas.
Switch Your Bank: Finally, you can go to a bank that takes low service fees but provides the same service qualities.
Keep the air filter Of Your Car Clean: If you have a car, you will notice your air filter blocked with dust. Could you keep it clean? It will save you gas mileage.
These easy tips will help you to save money in such a way that their lifestyle will be not be changed enormously.
Sheikh Faizul Haque is an internet entrepreneur and the founder of The Strategy Watch; Graduated from North South University with a double major in Accounting & Finance in Bangladesh.
With a strong interest in developing and improving Business Strategy and to Conduct Business Analysis.