Top 9 Ways to Save Money. Very Effective Money Saving Tips that you must know.

We waste a lot of money on the useless thing, To save money you don’t have to change your lifestyle by just slightly changing the way you do certain things right now can save a lot of money.

Moreover, if you stop wasting your money, you will eventually start making extra money.

Note- 1. These top 10 ways are not going to help save huge bucks but surely it’s going to improve your current financial situation a lot.

2. Some of the tips are not going to change your current financial situation instantly but for the long-term, you will definitely save a lot of money.

3. Even though this is a general guide but still everyone’s financial situation is different so adjust it according to your current situation.

So here are the Top 10 ways to save money.

Save money

Stop saving all your money in your saving bank account.

Now, this doesn’t happen every time but if it does then you will lose money without even realizing. You might think that I get interest on my money which means that we are making money then how am I losing money?

If you go through the whole story then you will realize that you are actually losing money every year. If the number (amount saved in your bank account) increases every year doesn’t mean that the actual value of that money to buy things has also increased. Every year things are getting more expensive.

what is inflation

If your current saving account interest rates are lower than your countries current inflation rate (a sustained increase in the general level of prices for goods and services in a county, and is measured as an annual percentage change) than you are actually losing money because inflation is reducing the actual value oh the money even if Inflation rate and Interest rate are equal still you are losing easy money.

If you can put your money in any safe investments then you are surely going to get better returns and that is surely going to be more than your bank’s interest rate (to know more click here).

Save money

Make a budget.

It is an insanely good habit of making a budget, but just making a budget is not all make sure you stick to it.

Budget is all about managing money and prioritizing things it not about sacrificing important things.

If you know what are your fixed expenses from beforehand then you will be alert and more sensible with the money that you have right now.

If you can smartly save a little today and make this a habit its definitely going to make your future more and more stable and secure. Always make sure to cut expenses from your budget whenever you can don’t add money to it.

Save money

Try to avoid credit cards.

Credit cards have some amazing advantages and if can use it properly then you can but I am not really a big fan of using a credit card for everything especially if my financial situation is not that great.

I don’t recommend you to use a credit card, the reason is that this can put you in a major interest trap and once you are into it, then it becomes very hard to come out of the trap. The credit card interest rates are very high as compared to normal personal loans.

Save money

Now, for instance, if you want to use your credit card anyway then make sure to call your credit card providing company and ask for lower interest rates in your credit card company charges you.

The second thing to keep in mind is that make sure to look for cashback whenever possible.

The third and the most important thing is that make sure to pay back the money within the due date this will increase your civil score and your credit score which will, in turn, help you to get loans easily in future.

If you cannot control yourself from spending money blindly then tell your credit card company to reduce your maximum limit.

Save money

Buy products in bulk.

There are some products that you need every day mostly FMCG (Fast Moving Consumer Goods). No matter what you are going to use it every day, these products never get wasted even if you don’t need for some reason you can easily sell them.

For instance, you cannot live without a toothpaste or a shampoo or even detergents.

Make sure you buy them in bulk whenever you have money to do so, If you buy them in bulk you are likely going to get some discounts. Whenever there is an offer on these kinds of products (which often does) buy them in bulk, this is going to save a lot of money very easily.

Save money

Look for quality.

Sometimes spending a little bit more can actually save you money.

Good quality clothing is the best example for this if you are buying the best quality of clothes than they are likely to last for a long time. Whereas buying a shirt which is going to cost you less but at the same, the quality of the shirt is very bad then you might have to buy a new shirt very soon.

Save money

Branded clothing is not the only solution for this you can buy clothes that will cost you less as compared to the branded clothes but at the same time, the quality is also going to be good.

Save money

Stay away from a sale (if you don’t need).

A sale is just a marketing strategy to attract customers, in fact for me a SALE!!! logo is the best way to increase your sales. You might think that you are getting stuff for less than what it should be but it’s not always true.

Make sure you shop around to compare prices before buying anything both offline and online. Don’t buy things that you don’t need, unnecessarily purchasing products is going to cost you for both short term and long term.

Save money

However, a sale is not always bad. If you really need something then you must look for a sale and for discounts, this way you can save a lot of money.


Use public transport or carpool.

Using public transport is going to cost you way less money that your car or bike. Using public transport has other benefits too, you don’t have to maintain your car, you don,t have to service it, no tax nothing.

Now it’s not always possible to use a public transport especially in overpopulated countries like INDIA. For this, you can share your car with your colleagues and you can charge them a minimum fee every month which will easily cover all your cost. If no one is having a car then rent a car and share all the charges equally. Carpooling is a simple but a very effective way to save money and you are also reducing the pollution that is caused by vehicles.

Save money

Go for renewable resources and recycle your products.

Using renewable is the best thing that you can do to save your money as well as the earth. It becomes completely free once you install the electronics. It might cost you now but for the rest of the time, you are going to get electricity completely for free.

You can also start recycling your old products this will reduce the everyday cost that you would spend in buy new things. Plastics water bottles, glass jars can be used for a long term.

Save money

Use the public library.

If you have a public library around your house then definitely use it. You can read books and research for your work and you can even use the internet for free, which means that you can watch hundreds and hundreds of movies, show absolutely for free and if you are lucky the library might have subscribed to paid services which you can access for free. This is also a great place to interact and communicate with new people.

Save money

Cook your own food.

Cooking your own food is a very healthy habit. Make sure you don’t buy food for your lunch instead carry you cooked food it’s going to save money and also better your health.

Save money

Cook food in low flame this will also help you in saving more money.

Some bonus tips – Look for your biggest expenses and try to cut all the useless spendings

Make a goal that you want to achieve with the saved money. This will make the whole process a lot easier.

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