How to save money?

How to save money? Top 5 Savings Option

How to save money?

How to save money? was the biggest issue of life As a child, I used to save every piece of money that I would get my hands on in this ghullak, means Piggy Bank and write on it what am I saving it for. It usually used to be for some good work,  How to save money ?. Because of this, I was called in my family as the Ultimate Saving ‘BABA’.

But When adulthood came and I realised that I need to save a lot more money for things that are far more expensive than the latest mobile phone! I wouldn’t say I am reckless but as an adult, every time I’d get the money I would have this itch of spending it somewhere because I did not know how to handle that money, especially when everybody around me was trying to sell me something.

So I read a lot of books, spoke to some financial experts and I discovered that I can save a lot only by making a few changes to my lifestyle and thanks to those changes today, I have a house and I am also saving for the future of my family and today I am going to tell you exactly how!

So it doesn’t matter if you are a student or a businessman or a Salaried Employee the sooner you start, the better. So in today’s article, we are going to tell you about 5 unique ways to save money, things that you must do on the 1st of every month. But most importantly, towards the end, I’ll give you a Bonus Tip to ensure that the money you save grows automatically so that you and your family have a comfortable present and future ahead.

Let’s begin. Don’t take salary loans, avoid taking credit cards, I trust that you are smarter than those people who are spending lots of money on just buying the latest phone or latest dress. So let’s go and discuss the 5 real methods to save money.

1: Don’t use money as a distraction: Let me explain. There was a time when I was not going through the best phase of my life. On one of those bad days, I went window shopping and on a well-decorated Mobile Phone, I saw that phone with a price tag that said…..8,000 INR. I know that was too much at that time and I borrowed money to buy that, I hesitated but I needed something to make me feel better and I was hoping that my mobile phone would do it.

The problem is, these days we are spending money to distract ourselves temporarily from the stress or the pain that’s there in our lives. That’s why junk food, cigarettes, impulsive shopping or that expensive cup of coffee so that we feel a little bit better on a crappy day. Isn’t that correct?

Now, I don’t want to listen to “Miser”. now, let’s do some Calculations here.

Suppose you spend Rs. 200 on a distraction every day. If you save it instead, then 200 X 30 will give you Rs. 6,000 per month. If you invest this money somewhere, let’s say Mutual Funds, recurring deposit or Insurance Policy then after 5 years, it will give you 3.6 Lakhs and some of Intrest added also And imagine the financial security that you can feel with this money! yes, I am nobody to advise you but it’s upon you to get an idea.

2: Pay Less: Look, I am not asking you to bargain. In fact, I find it heartless that people bargain with local vendors for Rs. 20/- holding an Rs. 50,000/- phone. But there are some smart ways to reduce your monthly expenses.

          a. Car-Pooling: Whenever you are travelling, use Uber-Pool, Ola-Share or find somebody in your building who goes to your office. You will save money, you will save the environment but most importantly, you will receive all of the common people’s blessings… because you are reducing traffic from roads.

            b. Cook your food at home: I know I am asking to do a difficult task but, I have listened many times that you are spending Rs. 100 for Breakfast, Rs. 250 for Lunch, Rs. 50 on tea and Snacks, Rs. 300 on Dinner amounts,… it’s too much and I am being lenient with the prices here. I have despised cooking for 5 years of my life until recently and you can’t believe the amount of money it was saving me. Plus, it is easy, healthy and believe it or not a great stress-reliever.

           c. Cancel unnecessary subscriptions that you don’t need. Like any magazines, Netflix, rents, etc.. I recently got my cable removed because

a) the news is boring and

b) the serials are fooling my intelligence I mean…what’s happening here?! *Maybe you won’t understand but what they are showing nagins, tricks, how to fight with relatives etc……..

I am sure you know of other ways of saving money like carrying your bottle, buying in bulk or squeezing every last bit of that tooth-paste. So comment and let me know what are your ways of saving money so that all of us can follow you.

How to save money?

3: Maintain Records:  Suppose you buy a Washing Machine and it stops working after 1 month. Now, if you don’t have the bill and the warranty card won’t you be wasting money on the repair? In fact, just last week I returned a trimmer bought a few months ago and thank god the Bill and warranty card was safe with me.

Anything money related should be saved and organised. Not just bank and investment details but also Bills and Warranty Cards which is why I maintain separate files for Bills, Bank Stuff and Warranty Cards so that I don’t pay for the manufacturer’s mistakes.

4: Invest in your Health: Everybody, You and I are getting old. And no hospital or medicine can get back a perfectly functional heart, brain, bones, muscles, digestive system, eyesight. But do you know what can? Eating right and Exercising. Don’t lift 80 Kgs. Just go for a walk, do yoga, play games, try to do cycling. Find a workout that you enjoy and that’s all it takes. It will help you in 2 ways…

        #1. It will save lakhs on hospital bills and

        #2. You will be more productive and eventually, earn more.

5: Invest in Yourself:  The best use of money is to invest in Self-Development. But what is Self-Development? Self-Development is solving what’s causing you pain, it’s what stressing you out.

For example, If you are stressed about your job then instead of spending money on cigarettes or expensive shopping use that money to take courses or attend classes that will help you to get your dream job. If you are stressed about gaining weight then instead of eating more to forget about it, you should invest it in a workout that you love to do? I was stressed at my old job because I just didn’t like it.

So I invested my money in making web sites like (, attending online classes, buying software to learn to code and I updated my skills so that I shift my career. And I am much happier now at least doing my favourite things.

Maybe the passion or the hobby that you developed, might become your new source of income. If you want me to write a  separate article about how to follow your passion then comment below and let me know. The best and the worst financial decisions are made on the 1st of every month when we got our salaries.

So if you want to save money, then these are the things that you must do on the 1st of every  month

1. Pay your Bills because at the end of the month you may have to pay extra money as of late fee or as fine.

2. Withdraw and keep at the side the amount that you want to save. If you want to develop financial discipline then this is something you must do on every 1st of the month.

Now calculate your ‘Everyday Spending’ number. Let’s suppose you get Rs. 30,000 per month. Subtract your expense like food, rent, transportation, etc. Let’s suppose now you are left with Rs. 15,000. Now subtract the amount you want to save every month. Say it’s Rs. 9,000. Now you are left with Rs. 6000. Divide that by 30 days, which means that you can spend Rs. 200 per day. So the ‘Everyday spend’ number is a benchmark for how much you can spend.

FREE TIP: Impose a Luxury Tax on yourself. Suppose on a stressful day, you went ahead to the bar or a club and spent Rs. 1000 on special foods or alcohol or whatever.. then as a self-imposed Luxury Tax, add 50%of that amount into the next month’s savings. So next month, Rs. 9,000 + Rs. 5,00 should go into your savings. This Luxury Tax will keep a tab on your over expenditure until you form a habit.

Now coming to the Bonus Tip.

Now do some things to make sure that your money grow.

There is a huge list of investment options available but before you do any of that, create an Emergency Fund which is 6 months of your monthly salary and have it accessible, like in a Liquid Fund or FD.

Do not touch this money unless it’s an Emergency. Now after you have created your Emergency Fund if you want to know what other investment options are available, their risks, their returns.. then keep reading us. It has everything you need to know about getting started on growing your money.

Conclusion of How to save money?

As a kid, many of us have seen many families cut corners to make ends meet.  It’s okay. I am also not ashamed of it. we were lucky that we had food, clothing and shelter. Back then, saving money was the only option available.

But now, everybody is trying to sell us something all times.. food is super delicious, the dress is so cool, the watch is attractive, the phone is luxury, etc and swiping a card is so easy. So we are spending a lot more than what we should spend, hoping that it’ll make us happy. But from what I have experienced, true happiness is found in our favourite work, hobby, passion, in family, even at the end of a workout in the gym.

So, invest in that. 

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