As you know, day by day cost of every commodity is sky rocketing. It has become difficult for a common man to survive unless he or she takes certain measures.
I have suggested 21 quick and simple tips to save money living in India. You could do few simple things in your everyday life and save a lot of money for your future.
You don’t need to have a great mind for doing this as you will get opportunities every day, in every walk of life.
** I have already written an article where you can see 17 ways to save money.
And here I am going to show you 21 quick & simple but effective tips:
The first step to save money is to make budget for you daily, weekly and monthly expenditure.
You could decide in advance, how much you are going to spend for groceries and other stuffs.
It will help you to spend money cautiously because you are less likely to surpass your fixed daily budget.
Therefore, daily budgeting is a great habit and you could do it on paper or use various online applications like Excel spreadsheet, Google docs for daily budget etc.
2. Leave the credit card at home
Well! If you have become addicted to credit card while you are on shopping spree then it is better to leave it in your home.
If a credit card is in your pocket then you tend to shop every other thing that you see in the store. You would like to buy this one and that one.
Hence, if you leave your credit card at home then you are restricted from buying all those unnecessary stuffs that you might have bought.
3. Electricity bills
You have to pay bills whether you like it or not. But you can save a lot of money while paying your electricity bills.
I am not suggesting to evade paying your bills. But you could use electricity wisely that would reduce your electricity bill substantially.
For example, switch off the AC if you are in other room, likewise do not use drier of your washing machine and prefer to dry your clothes under the sun.
Like this you could save a lot of money. Here are 10 tips for you.
4. Cook twice a day
You could cook twice a day rather 3 or 4 times. It means you could combine your breakfast and lunch and make it a brunch.
You could do it on daily basis. In evening you could have tea or coffee and finally, in night ending your day with a dinner.
Thus you cook only twice and save your money by buying less food items.
5. Take Your Lunch do not buy it
If you are working somewhere then it is wise to carry your lunch box. You should avoid taking your lunch in your cafeteria or buying it from somewhere.
There are two reasons for it. First is you save a lot of money because a meal outside could cost you heavily and secondly it is unhygienic to consume food that is from a canteen or a restaurant.
6. Don’t buy bottled water use aqua guard
This is yet another simple but effective tip to save money. If you prefer to drink safe water then you should install aqua guard in your house.
Instead paying money every time for bottled water of 1 liter or even 20 liters, you could buy an aqua guard and pay for once.
The water is as pure as of bottled water and at the same time you save a lot of money yearly.
7. DTH instead of cable
In India, all cities are using set top box instead of cable connection. I recommend you to shift your connection to DTH or dish tv as soon as possible.
You could save money because you will only pay for the channel that you want to see. If you do not want to see a channel like some English channels then you could avoid that channel and you pay only for those channels that you want to see.
This is not possible in cable connection because you have to pay for channels that you would not like to see.
8. Don’t pay for anything online
If you love to shop online then never pay for digital products that you buy. These products are mainly software and other downloadable stuffs.
Never pay anything using your credit or debit card because most of the items you could get for free if you spend some time online doing research.
You will always get items for free online on certain websites like pirate bay, filestube, torrents etc.
9. Grandma tips for beauty and medicines – no doctor
If you are conscious about your beauty and other health related issues then never consult a doctor.
Consulting a doctor could cost you heavy amount of money. Instead of consulting a doctor you could get tips from your grandma and other elderly people in your house.
They have some effective tips and secrets that you can learn and implement in your life.
10. Grow Vegetables in Gardens do not buy
People have started to realize that the cost of green vegetables is going to increase in coming days.
If they want to feed their children with fresh and green vegetables daily then it would be too costly for them.
Hence, the other alternative is to grow vegetables in your backyard. It is healthy to use and at the same time very cost effective.
You could certainly grow vegetables which take less water and sunlight to grow.
11. Mobile Plan
Using mobile is a daily necessity. We can’t imagine our lives without a mobile phone. So we cannot avoid using it in order to save money.
However, we choose certain plans where you get to talk maximum and pay minimum.
You need to aware all the plans offered by all the companies. Choose the plan which is best according to your need.
You could save a lot of money monthly if your mobile plan is right.
12. Use public transportation rather your car or bike
Petrol is already Rs 100/- for one liter and its cost is increasing day by day. Hence, you could use public transport like bus or metro instead of your car or motorbike.
If you are using public transport then it is very cheap because you have to monthly especially if you are a student.
Using your private vehicle would cost fuel which is very costly and add your expenditure.
13. Keep a piggy bank
Children do that and even you can do it. You can have a small piggy bank and keep filling it with lose money like coins of one, two and five.
Whenever you return from shopping, you always have change in your pocket. Instead of spending that spare cash in other things you could always put it into your piggy bank.
Once the bank is full, you can break it up and take all that money.
14. Always Ask your friends help
We all have friends; it is very smart to make use of them. If you are in great need of something or you are in some trouble then you could ask for help from your friend.
Suppose, your friends stays in a city that is very far away and you have some work in that particular city then instead of travelling to that city and paying money you could ask your friend to get your job done.
Similarly, there are small things in our lives that a friend of yours could help.
15. Buy everything in festival season
This is another smart way to save money. Your wife could do all of her shopping in a festival season.
You get a lot of discount if you shop in Diwali and other festive season.
Things like apparel, gadgets and other accessories could be bought in cheap rates at a wholesale price.
You could shop for entire year in a particular festive and in India there is always festive season.
So you will get an opportunity every now and then to shop in discount and save enough money.
16. Quit Habits like Smoking, Chewing tobacco etc
You could quit bad habits like chewing paan, smoking and even drinking alcohol.
A paan or even a cigarette could cost you more than Rs 100 to Rs 200 daily. There are people who smoke two packets of cigarette daily.
Moreover, alcohol is even more costly and bad for you health. Hence, you could get rid of these habits and save an amount of money that could buy you a house in next 20 years.
In addition to this, all these habits are injurious to your health. Check this article here to quit your bad habits to save money.
17. Buy your railway or air ticket online
You could buy your railway and airline ticket online. I personally book all my tickets for railways online.
If I have to travel next day then I would book it online using by credit card.
It saves you money because you do not have to pay for the travel agent.
You could do same thing when you buy an air ticket also.
18. Pay Your Bills on Time
You have to pay all your bills on due date. If you don’t then you have to pay heavy fine.
Same applies with paying EMI, if you miss payment for one month then you have to pay a heavy fine and if you repeat the same mistake again then amount could be double.
So avoid delaying your bills.
19. See a movie in home rather in a multiplex
Now a day, watching a movie in a theatre is like spending Rs 599 for a person. Besides paying for ticket you need to pay for popcorn, beverages etc.
Instead of spending some Rs 2000 for a family every week you could watch same movie with popcorn in your house.
A home theatre is better than watching movie in a multiplex every time.
And if you want to take this habit further then you can wait for 1 month & watch the movie on your idiot box.
20. Buy only those Products Which comes with money back guarantee
If bought a product and feel that it is not good enough then you should return the product back to the company and get your money back.
It is of no use buying a product which does not come with a money back guarantee.
You could get back the money and buy another product which you like hence you do not have to spend money twice.
21. Live in a smaller city
Finally, the best way to save a lot of money just in a year is by living in smaller city.
If your job allows you then you could move to a smaller city because expenditure is very less.
Cost of every commodity is less and you could save on everything you buy. Whether it is property or daily supply.
In conclusion, I would say that these were 21 quick tips to save money. You might notice that these tips could be implemented in your day to day life.
It does not need any science as a housewife can do it.