With rising inflation, increasing responsibilities and increasing expenses, it has become very difficult to save money in daily life, but the income does not change as fast as inflation is increasing, so everyone thinks this. how to save money, but if you plan your expenses by working a little wisely, then you can save to a great extent by controlling them. Here we will tell about 5 ways to save money in daily life.
5 ways to save money in daily life :-
1) Make a budget: - First of all make a budget according to your income. In this, decide how much money you will spend on your clothes, travel, ration and entertainment and follow that envelope method was used in old times. Every month, electricity bills, children's fees, ration, marriage and emergency expenses were written by keeping the amount in different envelopes. Emergency expenses were used for medicines , unexpected objections or relatives and domestic marriages . If you want, you can also use this method. Maintain a diary for household expenses, in which every small expense should also be written. This will reveal the wasteful expenses, which can be rectified in the next month.
2) Expenditure - Income = Saving: - Often the economic formula of people is income - expenditure savings, whereas income-saving expenses should be. That is, out of one month's income, keep as much savings as possible for you, and keep all the expenses from the remaining amount. If your salary comes in the bank, then bring it home after taking it out of the expenses, let it remain in the savings bank. Many times, after completing all the household expenses, there is no money left and the dream of saving remains unfulfilled, there is also a solution - a recurring deposit account in a bank or post office or a mutual fund systemic investment plan. Open an account Get an electronic validation system done by opening an account in another bank. As soon as your salary comes, the bank deposits the amount mentioned by you in these accounts every month. Your savings should be deposited in such accounts where it cannot be easily withdrawn. That is why every month in companies and offices, a certain amount from the salary of the employee is deposited in the PF account. This amount keeps on increasing over time and gets it when the person retires. In extreme circumstances, one-third of this amount is allowed to be withdrawn before retirement.
3) Learn to differentiate between need and desire: - Nowadays people often go to the shopping mall to spend time. Many things are liked by kissing. You have to buy that thing as soon as you like it. do not think so . Wait till the end of the month, then you will come to know whether that thing is necessary for you or not or similarly you are buying on seeing or wish of others. For example , you are looking to buy a sandwich maker because your friend has it . But if you do not like sandwiches in your house then buying is useless. Sometimes sandwiches can also be made on the griddle. It's not your need, Sparva's desire from your friend is forcing you to buy a sandwich maker.
4) Do not spend to be stress free: - Many people have a habit that when they are under a lot of stress, they go out for shopping or to visit the mall / market. They claim that this makes them stress free. In this affair, they spend more than they need and later regret it, so put a stop to this habit. Whenever there is tension, it is better to go to the park or to the chalk instead of going to the mall / market. The atmosphere and pleasant air of the park will make you stress free. Do yoga or exercise if you want. This will result in stretching of the muscles. Due to which endorphin hormone will be released and your stress will go away, because this hormone makes you feel good by removing nervousness, frustration and stress
5) Start with a small amount :- Salary is less in the beginning of the career. Due to high expenses, only a small amount is left, which we feel is not enough for saving. Don't be discouraged Whether the amount is 500 or 1000 drops fills the pitcher, remember this proverb. Invest this amount for long term. Also, invest in such a place, where the interest is paid properly. The amount on maturity will also be higher due to interest. Keep making such investments in between. Invest in a recurring deposit or mutual fund, the amount with which you will open the account, the amount you have to put in every month. If there is more money left in a month, then put it in the bank's fixed deposit, get it renewed, because after the passage of time, you will have attractive savings in your hands.
As we told you in our article about how you can save money in daily life. But to save money, you also have to set a goal of yours. Because unless you keep a goal of your savings, you will not be able to work for it. It is for you to decide why and for what purpose you are saving money. These objectives can be goals like your home, your foreign travel, marriage, car etc. Once you determine your future goal, you will see that your money will start saving.
Hope you liked this article of 5 ways to save money in daily life, as well as it will also inspire you to save. Because saving means not only to achieve future goals, but the main purpose of saving is also to face the troubles in bad times.
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