How to save money ? | True learning |

Hello friends, my name is Pradeep and I warmly welcome all of you to our blog channel True Learning, where together you and we will increase the knowledge of financial knowledge even more and try to learn something new. This time we have brought some tips related to saving money and money for you.

 

Friends, the biggest problem that comes with saving money is that we never start it, if you think we will save money next month or next week, it will never come, so it is best to start saving money. It's good. Today is the right time

 

There are many other such problems related to saving money, whose solution we have brought for you, so let's start.

 

Best money-saving tips for everyone:-

1.    Spend money wisely:- Yes friends there is a big difference between spending money and spending wisely when we spend money wisely where we don't need for example- buying a new phone every 4 to 5 months or shopping again and again without need On the other hand when you spend money wisely, then you spend money only on the things that you really need, for example- house rent, home loan, etc.

2.    Make grocery budget:- Yes friends, if you make a month-long grocery budget and shop together, then you can save a lot of money which you can use in other important places, by doing this you will cross the second stage of saving money.

3.    Try to get a discount - By this method, you will not save much but there will be some savings, you can save 1% to 2% of your salary by buying everything.

4.    Avoid debit cards or credit cards use cash- Friends, whenever we go shopping or go somewhere or a new phone comes in the market, we all spend more than our budget, for which we often use a debit card or credit card, due to which we are in debt. becomes too much. We are not saying that you should not use or borrow credit cards, but we are saying that you can take all this for medical emergencies and starting a business. and try to use them sparingly

5.    Follow the 30,30,30,10% financial rule- Friends, this rule can change for every person because every person's need and situation is different, this rule is for those people who have debt, which they can divide their salary into those four categories, for example - 

·         With the first 30%, you can cover your household expenses

·         With the other 30%, you can settle your debts like phone EMI, etc.

·         30% you can do your personal expenses like buying clothes for yourself, going to a restaurant, going for a walk, etc.

·         For the remaining 10%, you can save somewhere, for this, we would advise you to make safe investments like FDs and mutual funds as they will save you from inflation.

(Once again we are telling you that this rule can be changed for everyone, for some, it can also be a 40, 40, and 20 rule and it can also change according to your need.)

6.            Track your expense- Friends, when our salary comes, we think about spending it before it comes, which we sometimes include unnecessary expenses, shopping, so you should first check how much and where you are spending every month. are. Is it that you are buying things you don't need?

7.            Save money automatically- This means that your money should be saved automatically i.e. as soon as some part of your salary is automatically deducted on a certain date of the month, you can start SIP by going to your bank. First, you should pay yourself in simple language. can you say

8.            Invest money- Friends, if you are able to save money after following all these rules, then you should also invest it in some good places so that your money is big with savings because as your expenses are increasing, so is inflation. And you cannot escape from this inflation, so it is better that you increase your money more than inflation. This work can be done easily by your FD, mutual funds, and stocks.

9.            Set investment goal -  Yes, friends, while saving, you must make sure why you are saving because if you save it without a goal, then you might not be able to do it because without a goal you do not reach anywhere. Your savings goal can be anything like buying a car, buying a house, starting a business, old age pension, etc.

10.          Increase your income- If you want to save money even better and want to do the above tips in a better way, then you must increase your income sources and your income, for this, you can also do any side business.

 

(Hope you liked our blog How To Save Money?. And we will try to keep bringing more such blogs for you.

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