In the ever growing materialistic world we live today, money is definitely one of the very important things (if not the most) for living. As our needs getting bigger and higher, no amount of money can be termed as ‘enough’ to meet out expenses and we are always short of it when we need it most. As practically every worldly incident today involves money, it will always be very wise for us to save money from our everyday life expenses. Here are the five most useful ideas.
1. Budget or Planning: It is by far the most important step that we should take. It involves a plan for our expenses and a budget to meet them. We have to monitor our expenses for different categories like Food & Beverages, Transportation, Home rent/maintenance etc. We can only control things that we can measure. It will give us a clear view about our expenses and the potential areas of saving.
2. Electricity Bill: It is a highly overspent area. We consume electricity everywhere. Almost all of our home appliances like TV, Refrigerator, Air Conditioner, Lights etc. consume electrical energy. If we are not in a room, we can switch-off the lights, fan, AC, TV in that room. It will need a change in our daily habits which has the potential to save quite a sizable amount of money. We can also use some smart devices or home automation products to do that job for us.
3. Clear Debts: Debts are silent killer in terms of money. The interest we pay for it regularly are designed in such a way that does not alert our senses but if we accumulate the interest paid over a certain period, it can give us a shock. Therefore, clearing all the debts we have, we can save a lot in the long run.
4. Online shopping: It can save us money. Really. Today, almost all the items we need in daily life are available at online marketplace. From clothes to electronic goods, from home tools sports gears, almost everything. It does not require us to go to a brick and mortar shop, thereby saving transportation cost. Besides, these online shopping platforms also provide some great deals at mind-blowing prices and a bunch of other facilities including easy return. A few of them are…www.fingerhut.com – Best brands for cloths, home and electronic products. They have a low monthly payment system which is extremely cool. www.jane.com – A wonderful collection of women and child’s cloths and personalized items. They have got a Weekly Boutique Giveaway program where we refer our friends and get a chance to earn a gift card of $1000 each for us and our friends. Mamma.com is a coupon based site where you can get coupons for Jane.com& fingerhut and many more stores.
5. Carpooling or Public Transport: Carpooling is real fun in some ways where we share our journey with people. But what comes as an extra is that we can save reasonable amount of money with it. It directly reduces our fuel cost and also prolongs the lifetime of our private automobiles. Using public transport system instead of personal cars in well connected urban areas can also save us money in transportation cost.